We are very pleased to introduce our upcoming series on income producing properties both single and multi-family in the Greater Seattle area. This will be a four part series focusing on the positives and negatives of investing in the rental market in the current economic conditions. The series topics will be as follows: Homeownership Rate…
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About: Terry James
Recent Posts by Terry James
September Foreclosure Starts Reach 2007 Levels
In September, the nation’s delinquency rate suddenly spiked 7.7% from August, according to data from Lender Processing Services (LPS). The data provider explained the surge in its recent Mortgage Monitor report for September. For one, first time delinquencies increased by about 200,000 from the month before as more borrowers rolled into 30-day delinquency status. Re-default…
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Completed Foreclosures Down 31% from Year Ago but Remain High
Completed foreclosures continued their descent into September, falling 31% from a year ago, according to data from CoreLogic. The analytics company reported the number of homes lost to foreclosure in September dropped to 57,000. The decline is a steep drop from 83,000 in September 2011, and a decrease from the upwardly revised 59,000 in August.…
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Seattle-Bellevue-Everett Rated #6 Market to Sell Your Home the Fastest in the Country!
Top Ten Markets where homes sell the fastest! Your thoughts or comments? 6. Seattle-Bellevue-Everett, Wash. > Average no. of days on market: 45 > Median home price: $350,000 (17th highest) > Population: 3,439,809 (21st highest) > Unemployment: 7.40% (56th lowest) The Seattle metropolitan area has a population of more than 3.4 million people, yet only…
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Market Strengthening As Shadow Inventory Improves – Down 10.2% from 2011
The shadow inventory that previously darkened industry outlook is beginning to fade. In fact, we may soon begin to see the sunlight on the horizon. In July shadow inventory – unlisted homes that are seriously delinquent, in foreclosure, or held as REOs – declined 10.2% year-over-year, falling to 2.3 million homes, according to CoreLogic’s Shadow Inventory Report…
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Foreclosure-Related Sales Price Up as Inventory Shrinks Dramatically: Prices Up 7% Year-Over-Year
Prices went up for foreclosure-related sales on a quarterly and yearly basis, with the annual increase marking the first rise in two years, according to RealtyTrac’s Q2 foreclosure sales report. The average price for foreclosure-related sales stood at $170,040, a 6% increase from the previous quarter and a 7 percent hike from the second quarter…
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Borrowers in Negative Equity Declines as Home Values Gain
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…
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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…
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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,…
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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…
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