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.…
Read more
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…
Read more
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…
Read more
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…
Read more
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…
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
