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…
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About: Terry James
Recent Posts by Terry James
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…
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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=
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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…
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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…
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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…
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Foreclosure Starts Rise in December and January Signaling Foreclosure Backlog Pipeline Improving
Data through the end of January shows significant movement in both foreclosure starts and sales, and it has some market watchers saying the lull in foreclosure activity seen over the past year-and-a-half may very well be coming to an end. Lender Processing Services’ (LPS) latest market report says foreclosure starts jumped 28% between December and January,…
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Shadow Distressed Inventory Total 1.6 Million – Half of All Inventory Listed Properties
The number of distressed properties not currently listed for sale on multiple listing services (MLSs) stood at 1.6 million as of October 2011, according to CoreLogic. This shadow inventory is approximately half of the industry’s visible inventory of homes available for sale, CoreLogic says. Thus, for every two homes available for sale, there is one home…
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Foreclosure Crisis Isn’t Even Halfway Over: Communities of Color Greatly Impacted by Crisis
The foreclosure crisis has had a long and destructive run – five years and counting, with millions put out of their homes. According to the Center for Responsible Lending(CRL), we’re not even halfway through the devastation. The organization’s analysis of 27 million mortgage loans originated over a five-year period found that 6.4% of mortgages made between 2004 and…
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Past Due Mortgages = 6,298,000 down from 8,118,000 peak in January 2010
There were 6,298,000 mortgages going unpaid in the United States as of the end of October, according to Lender Processing Services (LPS). It’s a daunting number, but the data show that it’s actually been on a fairly steady decline for nearly two years now. At the start of 2011, the total number of non-current mortgages in the…
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