CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire […]
The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report revealing that distressed property sales accounted for 4% of sales in September. This is down from 7% in 2015, and is the lowest figure since NAR began tracking distressed sales in October 2008. Below is a graph that shows just how […]
Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market. CoreLogic, in their most recent National Foreclosure […]
The National Association of Realtors (NAR) just released their Existing Home Sales Report revealing that distressed property sales accounted for 6% of sales in October. This is down from 9% in 2014 and the lowest figure since NAR began tracking distressed sales in October 2008. Below is a graph that shows just how far the […]
According to the latest CoreLogic National Foreclosure Report, “approximately 552,000 homes in the US were in some state of foreclosure as of December 2014”. This figure is down 34.3% from the 840,000 homes in December of 2013. December marked the 38th consecutive month in which there were year-over-year declines. Anand Nallathambl, the President and CEO of CoreLogic, is hopeful for the […]
According to the latest CoreLogic National Foreclosure Report, “approximately 660,000 homes in the US were in some state of foreclosure as of May 2014”. This figure is down 37% from the 1 million homes in May of 2013. May marked the 31st consecutive month in which there were year-over-year declines. Mark Fleming chief economist for […]
Today we are excited to have Joan Erni, as our guest blogger. Joan is the Director of Business Development at Michael Saunders & Company, and wrote today’s post in response to last Wednesday’s blog post re: foreclosures. – The KCM Crew Buying a Foreclosure isn’t as Risky as You May Think, with the Proper Know-How […]
We are pleased to present, Amanda Kostina, as our guest blogger today. Amanda is a writer for Whitefence.com. – The KCM Crew Buying a foreclosed home can seem like a dream. What could be better than getting a home for a fraction of the market value? Some may even say that the deals sound like […]
Today, we are honored to have Jim Sahnger as a guest blogger. Sahnger is a 20 year veteran in the mortgage industry and is widely recognized for his expertise. His thoughts have been noted in Bankrate.com, Wall Street Journal, MarketWatch, Business Week and Investor’s Business Daily. – The KCM Crew HUD recently announced that people […]
One of the key obstacles to a housing recovery over the past five years has been the overhang of distressed properties about to come to market which has come to be known as shadow inventory. Shadow inventory numbers are comprised of three separate categories of properties: properties where the home owner is 90+ days behind […]
RealtyTrac recently released their Q1 2013 U.S. Foreclosure & Short Sales Report™. One of the more interesting revelations in the report was the decrease in the number of short sales being completed. According to the report, properties not in foreclosure that sold as short sales in the first quarter accounted for an estimated 15% of […]
Over the last few years, new words have become part of our real estate vocabulary when discussing distressed properties. Terms such as ‘shadow inventory’, ‘cure rate’ and ‘short sales’ were introduced. Other words like ‘underwater’ and ‘upside down’ took on totally new meanings. Today, we want to add two additional words that we will be […]
Information from The Pew Charitable Trusts report: The Geographic Distribution of the Mortgage Interest Deduction
Number of Loans in Foreclosure Reaches a Three-Year Low Foreclosure Activity Rising in 2013 Both headlines above appeared in the media last week. The amazing part is that both headlines appeared on the same day and from the same media source (HousingWire)!! The first headline commented on the recently released Office of the Comptroller of the […]
With home values falling dramatically from 2006 boom prices, many homeowners have found themselves in what is called a ‘negative equity’ or ‘underwater’ situation. This means the value of their home is currently less than the mortgage amount on that home. Many of these homeowners have been ‘locked’ into their houses because they were unable […]
Last week, RealtyTrac released their Year-End 2012 U.S. Foreclosure Market Report™. The report revealed foreclosure trends over the past few years. Here are a few of the key findings: A total of 2,304,941 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,836,634 U.S. properties in 2012, down 3 percent […]
Many analysts differ on what impact shadow inventory will have on house values in 2013. Some warn that these distressed properties will still play a major role in limiting appreciation. Others believe that the increases in buyer demand will more than offset the increase in supply. The only thing on which everyone agrees is that […]
Recent headlines have created tremendous confusion regarding the foreclosure situation in the country. Let’s give an example. Which of these two headlines are accurate? Foreclosure Starts Plunge to 71-Month Low Foreclosures Increase for the First Time Since 2010 The challenge is that both headlines are 100% accurate. How can foreclosures have increased for the first […]
The Mortgage Forgiveness Debt Relief Act of 2007 is set to expire at the end of the year. The act allows taxpayers to be excluded from paying taxes on forgiven debt in certain situations. As their website explains: “The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of […]
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