According to a report from Foreclosure-Response.org, the serious delinquency rate, which includes loans 90 or more days past due plus foreclosures, increased for the first time after a downward trend between December 2009 and June 2011. Serious delinquencies rose from 9.2 percent in June 2011 to 9.7 percent in December 2011 for the nation’s 100 ... [Read More]
According to a report from Foreclosure-Response.org, the serious delinquency rate, which includes loans 90 or more days past due plus foreclosures, increased for the first time after a downward trend between December 2009 and June 2011.
Serious delinquencies rose from 9.2 percent in June 2011 to 9.7 percent in December 2011 for the nation’s 100 largest metropolitan areas. While the 90-plus delinquencies component of the percentage is flat at 3.8 percent and has remained largely unchanged for the past four quarters, foreclosure rates continue to rise and now stand at 5.9 percent. In June 2011, the foreclosure rate was 5.5 percent.
Analysis with the data suggested the build-up of foreclosed homes in judicial states is the main reason behind the rising foreclosure rate.
Metros located in judicial states had foreclosure rates averaging 7.2 percent in December 2011 compared with 4.7 percent for metros in non-judicial states.
Also, when separating metro trends in judicial states from non-judicial, the foreclosure rate in judicial areas has actually increased since March 2009, when Foreclosure-Response.org began tracking the data, while the rate has been roughly flat in non-judicial metros for the last five quarters.
Nearly half, or 46, of the 100 largest U.S. metro areas are located in judicial states.
http://www2.realtoractioncenter.com/site/R?i=iEo9QuAEyhY-KJ1Sje-0vA
According to a report by the Internet Crime Complaint Center (IC3), 2011 marked the third consecutive year that the IC3 received more than 300,000 complaints. The 314,246 complaints represent a 3.4 percent increase over 2010. The reported dollar loss was $485.3 million. As more Internet crimes are reported, IC3 can better assist law enforcement in ... [Read More]
According to a report by the Internet Crime Complaint Center (IC3), 2011 marked the third consecutive year that the IC3 received more than 300,000 complaints. The 314,246 complaints represent a 3.4 percent increase over 2010. The reported dollar loss was $485.3 million. As more Internet crimes are reported, IC3 can better assist law enforcement in the apprehension and prosecution of those responsible for perpetrating Internet crime.
http://www2.realtoractioncenter.com/site/R?i=KRHoRoDTkxtbswvs8RENRw
Despite the fact that Americans overwhelmingly support homeownership, legislative and regulatory proposals now under consideration would greatly harm homeowners, home buyers, the housing market, and the nation’s economy, according to the National Association of Home Builders (NAHB). To that end, NAHB has launched a new website, www.ProtectHomeownership.com, to bring attention to the threats to homeownership ... [Read More]
Despite the fact that Americans overwhelmingly support homeownership, legislative and regulatory proposals now under consideration would greatly harm homeowners, home buyers, the housing market, and the nation’s economy, according to the National Association of Home Builders (NAHB). To that end, NAHB has launched a new website, www.ProtectHomeownership.com, to bring attention to the threats to homeownership and inspire the public to take action to protect it.
Tax, legislative, and regulatory policies currently under consideration would scale back or eliminate the mortgage interest deduction and make mortgages and small business loans unaffordable and even more difficult to obtain.
ProtectHomesownership.com explains some of these threats and documents homeownership’s importance to individual households and to local, state, and national economies through an FAQ, poll data, economic analysis, and reports.
The site also provides multiple ways for the public to take positive action to protect this very important aspect of American life. These include an online petition urging policymakers to keep housing a national priority, information about how to participate in homeownership rallies that are being held in a number of communities in 2012, and links to social media communities on Facebook.com/ProtectHomeownership and Twitter.com/4Homeownership.
http://www2.realtoractioncenter.com/site/R?i=0NnYhybBaVL82sjh-4RSeA
The Sacramento Bee Nearly five years after the housing bust began, government programs to help those who are underwater on their mortgages, unemployed, or unable to make their payments are kicking into gear. Read the full story http://www.sacbee.com/2012/04/22/4430747/aid-for-troubled-mortgages-has.html [Read More]
Los Angeles Times A year ago, 1 out of 10 REALTORS® surveyed said houses were receiving low-ball offers. In the latest survey, there were hardly any. Instead, the focus ha shifted to declining inventory levels. Read the full story http://www.latimes.com/business/realestate/la-fi-harney-20120422,0,7259627.story [Read More]
The Washington Post With home prices at historic lows and rental rates on the rise, a growing number of investors with cash to spare are seeking lucrative returns by gobbling up foreclosures in distressed markets across the country and turning them into rentals. Read the full story http://www.washingtonpost.com/business/economy/housing-downturn-spurs-a-boom-in-foreclosure-to-rental-conversions/2012/04/24/gIQAFWUZeT_story.html?hpid=z2 [Read More]
Bloomberg The Conference Board’s Consumer Confidence Index was at 69.2 in April compared with a revised 69.5 in the prior month. Read the full story http://www.bloomberg.com/news/2012-04-24/consumer-confidence-in-u-s-little-changed-as-expectations-cool.html [Read More]
Los Angeles Times The pace of new home sales in March was up 7.5 percent from a year earlier, the Census Bureau and the Dept. of Housing and Urban Development reported this week. Read the full story http://www.latimes.com/business/money/la-fi-mo-new-home-sales-20120424,0,1201517.story?track=rss [Read More]
The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read the full story http://blogs.wsj.com/developments/2012/04/20/raines-dont-blame-homeowners-government-for-housing-bust/ [Read More]
Calif. median home price: March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.) Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February. Calif. Traditional ... [Read More]
Calif. median home price: March 2012: $291,080 (Source: C.A.R.)
Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.)
Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February.
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 5/3/2012 30-yr. fixed: 3.84% fees/points: 0.8% 15-yr. fixed: 3.07 fees/points: 0.7% 1-yr. adjustable: 2.70% Fees/points: 0.6% (Source: Freddie Mac)
Despite slow job growth, Americans’ attitudes about homeownership, the economy, and personal finances continue to move incrementally in a positive direction, according to results from Fannie Mae’s April 2012 National Housing Survey. The continued stabilization of consumer attitudes coupled with growth in areas such as home price expectations, whether it is a good time to ... [Read More]
Despite slow job growth, Americans’ attitudes about homeownership, the economy, and personal finances continue to move incrementally in a positive direction, according to results from Fannie Mae’s April 2012 National Housing Survey. The continued stabilization of consumer attitudes coupled with growth in areas such as home price expectations, whether it is a good time to sell one’s home, direction of the economy, and the percentage of Americans who saw an increase in their personal income indicate an alignment of factors that may influence Americans’ decision making about purchasing a home.
On average, Americans expect home prices to increase 1.3 percent over the next 12 months (the highest value yet recorded), while the percentage of Americans who say it is a good time to sell their home continued to rise to 15 percent in April (up from low, flat levels during 2011). In turn, confidence in the economy’s direction rose to a survey all-time high in April (hitting 37 percent, an increase of 2 percentage points from last month). Another positive trend is the increased share of those who reported their income as “significantly higher” from twelve months ago, which is now at the highest level recorded over the past year and 7 percentage points higher than those who reported income as “significantly lower” (the largest difference between the two since the survey began).
http://www2.realtoractioncenter.com/site/R?i=OL-Rp9YSsbVK9v08mJ8Qlw
The Washington Post With home prices at historic lows and rental rates on the rise, a growing number of investors with cash to spare are seeking lucrative returns by gobbling up foreclosures in distressed markets across the country and turning them into rentals. Read the full story http://www.washingtonpost.com/business/economy/housing-downturn-spurs-a-boom-in-foreclosure-to-rental-conversions/2012/04/24/gIQAFWUZeT_story.html?hpid=z2 [Read More]
Bloomberg The Conference Board’s Consumer Confidence Index was at 69.2 in April compared with a revised 69.5 in the prior month. Read the full story http://www.bloomberg.com/news/2012-04-24/consumer-confidence-in-u-s-little-changed-as-expectations-cool.html [Read More]
The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read the full story http://blogs.wsj.com/developments/2012/04/20/raines-dont-blame-homeowners-government-for-housing-bust/ [Read More]
Once a primary tool for real estate agents looking to sell a home, experts say the traditional open house has lost its influence in the Internet age. Most buyers today conduct their preliminary research at home – reviewing online photos, virtual tours, and a home’s layout – and arranging for private showings of the properties ... [Read More]
Once a primary tool for real estate agents looking to sell a home, experts say the traditional open house has lost its influence in the Internet age. Most buyers today conduct their preliminary research at home – reviewing online photos, virtual tours, and a home’s layout – and arranging for private showings of the properties they’re interested in.
Many REALTORS® report that open houses rarely attract interested, qualified buyers. During the boom times, it was more common for buyers to make offers at open house because they were worried that another buyer would beat them to it. But with real estate sales slow in most markets, the urgency is no longer there.
Buyers who visit an open house without their REALTOR® could be setting themselves up for problems. Listing agents – the REALTORS® who are representing the seller – have a fiduciary responsibility to represent the sellers’ best interests, which, not surprisingly, are often in conflict with the buyers’ best interest.
