About 600,000 borrowers rose above negative equity in the second quarter of 2012, CoreLogic reported Wednesday. According to the company’s analysis, 10.8 million, or 22.3%, of residential properties with a mortgage remained underwater for the second quarter of 2012. The second quarter figure is a decrease from the first quarter of this year, when 11.4…
Read more
REO Saturation Rate Falls for First Time in 2012
While home prices remained little changed, the REO saturation rate fell for the first time this year, according to Clear Capital’s Home Data Index Market report, which included data to the end of August. The REO saturation rate, which calculates the portion of REO sales relative to total sales, slipped 6.4 percentage points from the…
Read more
Existing Home Sales Rise In July But Fall Short of Expectations – Median Home Prices Fall
Existing homes sale rose to an annual rate 4.47 million in July, the National Association of Realtors reported Wednesday. Economists had expected the sale pace to be 4.51 million. The median price of an existing home though fell in July for the first time since January. The median price of an existing home fell $1,500,…
Read more
Foreclosure Activity Down with Fewer Bank Repossessions But Foreclosure Starts Rise For 3rd Straight Month
Overall, foreclosure activity declined year-over-year and month-over-month, but foreclosure starts told a different story in July, according to RealtyTrac’s foreclosure market report. Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, fell 3% month-over-month and decreased 10% from July 2011. In July, 191,925 U.S. properties received a foreclosure filing. Foreclosure starts, which include…
Read more
Foreclosures May Be Back On An Upswing – More Inventory Released in Q4 2012
The number of homes entering foreclosure has picked up after last year's slowdown, when banks were forced to overhaul their foreclosure practices. Foreclosure-data firm RealtyTrac said 311,010 properties started the foreclosure process in the second quarter, a 9% increase from the previous quarter and a 6% increase from the second quarter of 2011 — the…
Read more
Seattle Real Estate Starting to Pop…Home Prices Rise 10.5% and Sales up 24%
This month’s report on real estate sales in Seattle is the most dramatic we’ve seen in at least five years. While home sales have been on the rise for months, the previous gains in homes prices had been minor. May’s real estate statistics have solidified the trend and pushed it into overdrive. Home prices last…
Read more
Ballard Remodel – Before and After Sold in 8 Days!!
Check out our recently remodeled Ballard property. This property was acquired for $310,000.00 and sold for $549,950.00 in 8 days. It was a beautiful project. http://static.animoto.com/swf/w.swf?w=swf/vp1&e=1337966952&f=KWrEiZjP5EqpgBJFeuIX2w&d=178&m=a&r=360p&volume=100&start_res=360p&i=m&options=
Read more
REO Prices Increase, Fair Market Prices Drop, Home Values Stabilizing
According to data from Clear Capital, over the last year, REO prices have increased 5.5%, while fair market prices dropped 2.9%. The real estate data provider explained that demand for REOs is most likely causing the increase in prices and named Carrington Holding Company, Amherst Securities Group, and Waypoint Financial as examples of investors purchasing…
Read more
RE/MAX Survey of 53 Metros Finds Home Prices Up Again
According to a March 2012 housing report released by RE/MAX, home prices have risen for the second month in a row now on a year-over-year basis. The RE/MAX report included 53 metro areas and found the median price in March was $184,525, a 7.3% price increase from February, and a 5.8% increase from a year…
Read more
Federal Reserve Issues Policy Statement on Foreclosures as Rentals
The general policy of the Federal Reserve is that banking organizations should make every effort to dispose of foreclosed properties and get them off their books as quickly as feasibly possible. However, holding onto these properties and renting them out to tenants may be the way to go “in light of the extraordinary market conditions that currently…
Read more