Category: Foreclosures

Housing outlook is more upbeat

Optimism is building that the housing industry is nearing a bottom — finally. Home sales and home building are forecast to rise this year after sliding steeply the past five years in housing’s worst downturn since the Great Depression. Recovery is expected to be slow, and home prices are widely expected to fall this year. …

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Home price prediction in Puget Sound

The number of foreclosure filings last year fell for the first time in at least five years, but don’t break out the champagne glasses yet says a recent Seattle Times article. Filings fell by 34 percent nationwide, 24 percent in Washington state and 21 percent in the Seattle metro area, according to foreclosure listing firm …

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Foreclosures drop to lowest level since 2007

2011 Foreclosures down 35% from 2010 Banks filed foreclosures on roughly 205,000 homes in December, the lowest monthly total since November 2007, according to RealtyTrac. The 1.8 million foreclosures for 2011 dropped nearly 35% from 2010. Unexpected delays kept 2011 numbers from passing the previous year’s total as was originally expected. Still, one in every 69 homes received …

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Short Sale Vs. Foreclosure: A Short Sale Always Wins

The most prevalent question in the ever changing real estate industry that continues to permeate our times is: “Why should a seller go through the short sale process rather than letting their house be foreclosed upon?” While one cannot speak to every circumstance, one can say one thing with complete conviction:  In almost all instances in which …

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Investors sell foreclosures faster than banks

According to Foreclosure Radar, investors are faster at reselling foreclosures as compared to banks. Those results vary by area, with Oregon banks taking an average 232 days to offload inventory — or 156 days longer than third parties, who take only 76 days. In Washington, however, it took banks only 52 days longer than third parties …

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A short summary on home Short Sales

Good News: The number of short sales has increased 12.6% in the second quarter of 2011, with short sales making up about 8% of all home sales thus far this year. Financial institutions appear to be more open to negotiating sellers’ negative equity… and thus, not going forward with the foreclosure process. Reposted with permission: KCM …

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Short Sales: The Road Is Now Paved

THE KCM CREW on SEPTEMBER 2, 2011  

Selling? Waiting Until the Spring Makes No Sense

Late last year, banks were warned that they needed to guarantee that the paperwork necessary to start a foreclosure process on a family was both accurate and complete. Since then, the banks have slowed down the foreclosure process while they re-examined their procedures. They are now confident that all the required documentation is in order. …

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Homes underwater… how meaningful are the numbers?

I am re-printing this (edited) response to the graphic below… The author brings up a good point. Is it just me that wonders what percentage of the 15.8% means nothing? There are many people who purchased at the height of the market, or refinanced and took out their equity… and, they continue to make their …

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Bank of America shifts West Coast foreclosures into overdrive

Foreclosure starts increased in five West Coast states from the previous month: California, Arizona, Washington, Oregon and Nevada. In California notice of default filings jumped nearly 70% from the previous month. BofA initiated foreclosure procedures at a rate that more than doubled in August, jumping 116% from the previous month. Wells Fargo and U.S. Bank also showed increases …

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