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Foreclosures: What About the Children? (Part 1)

We were recently troubled by the findings of a research paper authored by Julia Isaacs of the Brookings Institute for the organization First Focus which was titled The Ongoing Impact of Foreclosures on Children. In the report, Ms. Isaacs quantified the number of children that have been impacted: 2.3 million children have already lost their homes […]

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New Foreclosure Wave: What Will Be the Impact?

We reported two months ago that foreclosures will significantly increase this summer as a result of The National Mortgage Settlement. This month, both Reuters (Americans brace for next foreclosure wave) and CNNMoney (Flood of foreclosures to hit the housing market) concurred. However, we believe this increase in distressed properties will have a much different impact […]

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Months’ Supply of Distressed Properties by State [INFOGRAPHIC]

[INFOGRAPHIC]

The months it would take to sell off all homes under distress or 90 days or more delinquent based on the current sales pace.

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2.6M of Shadow Inventory To Be Resolved [INFOGRAPHIC]

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REO to Rental Program: Its Impact on the Housing Market

There has been much talk about the government selling bulk foreclosures which will be converted into rentals. What will this actually mean to the housing market? For the answer to that question, we go directly to the 2/28/2012 Senate testimony of the person making the decisions on this subject: Edward J. DeMarco, Acting Director of […]

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Negative Equity in the U.S. [INFOGRAPHIC]

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Months Shadow Inventory by State [INFOGRAPHIC]

Months Supply Shadow Inventory by State

Attention Readers: At the end of last year, we posted a graphic showing Shadow Inventory levels for each state. This graphic is a much more accurate measure.

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House Prices: Window of Opportunity Beginning to Close

There have been conflicting opinions as to where housing prices are headed. We want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in most parts of the country in which to sell their homes for maximum price. We believe […]

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Foreclosures in Process by State

Methodology as per CoreLogic: The foreclosure inventory represents the number and ratio of homes that have been placed into the process of foreclosure by the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency as dictated by the investor for the mortgage loan … The foreclosure inventory is measured only against homes that have an outstanding mortgage. Homes with no mortgage liens can never be in foreclosure and are therefore excluded from the analysis.

For further information, go to www.corelogic.com

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Will Mortgage Forgiveness Debt Relief Act Be Extended?

Many of our readers have asked whether or not we believe the Mortgage Forgiveness Debt Relief Act of 2007 will be extended past its current expiration scheduled for the end of the year. As a reminder, the legislation ensures that homeowners who received principal reductions or other forms of debt forgiveness on their primary residences […]

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Mortgage Settlement to Drive Increase in Foreclosures

Last week, we explained that the National Mortgage Settlement gave banks a roadmap showing them how to proceed with the backlog of foreclosures (known as shadow inventory) that has been hanging over the housing market for more than a year. We believe that understanding this dynamic is crucial in determining home prices as we go […]

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Foreclosure Roadmap Included in Mortgage Settlement

There has been much written on the recently negotiated National Mortgage Settlement. Most of the reporting has revolved around the $25 billion that will be issued to consumers and states that have been impacted by the robo-signing scandal of 2010. We want to talk about a different issue addressed by the settlement. Foreclosures have been […]

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National Mortgage Settlement: What You Need To Know

Last week, the Federal government and 49 state governments (Oklahoma being the exception) agreed to a $25 billion settlement regarding robo-signing and the challenges it created in the foreclosure process. We want to give a synopsis of the settlement and some perspective on what effect it will have on the housing market in 2012. The […]

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5 Real Estate Trends to Look For in 2012

Predicting trends during the most volatile housing market in American real estate history is no easy task. We strongly believe these are the five real estate items we should keep an eye on in 2012: 1. Buyers Will Return In 2011, a lack of consumer confidence in the overall economy dramatically impacted the housing market. […]

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Best Post of 2011: InfoGraphic

This week we are posting the best blogs of 2011 by category. We hope you enjoy them as much as you did when we first posted them. – The KCM Crew

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Do Subprime Concentrations Lead to Other Foreclosures?

We are again honored to have Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/. – The KCM Crew Does the presence of a cluster of subprime mortgages in a neighborhood lead to a greater likelihood of […]

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Challenges Also Seen in the Larger Mortgages

The Wealthy Are Also Defaulting on Their Mortgages

There are many who believe that mortgage delinquencies in their region are concentrated in the middle-to-lower income neighborhoods. Actually, the research shows the number of delinquencies in the higher priced sections are currently exceeding the percentages in less affluent areas. The most recent Mortgage Monitor issued by LPS reports that the largest increase in both […]

Understanding the Impact of Shadow Inventory

Standard & Poors released their Third Quarter 2011 Shadow Inventory Update yesterday. We want to cover the basic points of the report today. What is shadow inventory? It is an inventory of houses that will come to market as a distressed properties at a discounted price. Each of the data companies define shadow inventory in slightly […]

One Thing That Still Concerns Us

There is no doubt that the housing market is stumbling to a recovery.  This past week Lawrence Yun, NAR’s chief economist, predicted a 4% increase in sales next year. Last month, Celia Chen of Moody’s Analytics projected sales to increase over 20% in 2012.  Any increase in transactions will be welcomed. However, we believe there […]

Uncle Sam Wants You! – To Rent from Him

Today, we are again honored to have Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/. Dr. Johnson will also be speaking at NAR’s Conference and Expo in Anaheim. For more information click here. – The KCM […]

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The Vicious Cycle of Foreclosures [INFOGRAPHIC]

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Selling? Waiting Until the Spring Makes No Sense

Late last year, banks were warned that they needed to guarantee that the paperwork necessary to start a foreclosure process on a family was both accurate and complete. Since then, the banks have slowed down the foreclosure process while they re-examined their procedures. They are now confident that all the required documentation is in order. […]

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Negative Equity: The Percentage of All Homes [INFOGRAPHIC]

What Happened to Modifications?

Monday’s blog post generated many questions as to whether modifications would have a major impact on preventing an increase in future foreclosures. Though modifications are still being done, the onus by the government and the banks has currently shifted to two other initiatives to help the housing recovery: Preventing future delinquencies (people falling behind on […]