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Posts Tagged Foreclosures

February Foreclosures High

Apr 3

Posted by Real Estate Home Blog in Loans, Real Estate | No Comments

In February, St. George’s rates of foreclosure went up compared to its rates last year.

St. George’s foreclosure rate among existing mortgage loans stands at 4.19% for February, 1.88% higher than last year’s 2.31%. In fact, the overall activity of foreclosure in St. George stands higher compared to the national rate of foreclosure, which stood at 3.17% this February – a difference of 1.02%.

The rate of mortgage delinquency in St. George has also gone up. In the month of February this year, 11.13% of all mortgage loans happened to be at least 90 days delinquent as compared to the 6.11% of last year – a 5.02% increase.

Foreclosures do not appear to be a problem is Rancho Santa Fe as the Rancho Santa Fe real estate market continues to remain strong.

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Rates of Unsold Homes Finally Going Down

Mar 23

Posted by Real Estate Home Blog in Economy | No Comments

It has been said that a small foreclosure surge will not significantly effect the sales of homebuilders this year because home sale inventory and new construction have fallen quite far below average levels in a lot of cities. Although it would be preferable not to have any more supplies come through foreclosures, a bit more will not totally hurt the markets.

After the housing boom collapse, foreclosures ended up soaring, which produced a glut in a lot of markets and sent home prices down. This resulted in homebuilders struggling to entice buyers into their homes instead of the discounted homes owned by banks. However, recent steady sales in a lot of markets ravaged by foreclosures have slowly sent down the amount of these homes in today’s market.
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Short Sale May Get Easier, Good for Everyone

Mar 9

Posted by Real Estate Home Blog in Real Estate | No Comments

Do you remember last year being the year of foreclosures? Well, this year looks like it is about to become the year of short sales.

In Phoenix alone, the amount of finished short sales, in which lenders sold homes for a lower mortgage value, went up by 60% at the end of 2009. Last month, bank-owned home sales went down by 25% compared to a year before, as traditional sales went up by 9% and short sales went up by 16%.
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FHA Flipping Foreclosures

Mar 9

Posted by Real Estate Home Blog in Real Estate | No Comments

It seems that the government is hitting three birds at once with a single far-reaching change in policy. The government wants to help the investors that fix foreclosures, communities troubled with a lot of foreclosed and bank-owned houses, as well as homebuyers with low down payments all at the same time.

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