16 Articles match "2006","January"

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High-End Foreclosures Rising Among Top Tier Homes
Already, there’s a glut of McMansions in the $500,000 to $1 million range that have been foreclosed by lenders — and many more are falling into foreclosure, according to an analysis of RealtyTrac foreclosure records in 2006 and 2007 (see graphic). That was up 169 percent over 2006. In January, properties entering some stage of foreclosure High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
www.realtytrac.com - Tuesday, February 3, 2009
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Legislating Lower Foreclosure Rates?
One such law is Illinois Senate Bill 2349 , which passed back in June and is scheduled to become effective January 1, 2007. That will leave defaulted homeowners with fewer options to avoid foreclosure, let alone recoup any equity they might have in their home. Chicago Foreclosure Rate Heat Map -- Sept 2006 Posted 11-13-2006 2:08 PM by darenb Filed under: Foreclosure Trends , Real Estate Trend An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Foreclosures Begin 2007 at Two-Year High
New foreclosure activity in January hit its highest level since RealtyTrac began issuing a national foreclosure report two years ago, with 130,511 new foreclosure filings reported during the month. That was up 19 percent from the previous month and up 25 percent from January 2006. After dominating the headlines with the highest state foreclosure rate for much of 2006, Colorado’s foreclosure rate dropped to fourth highest among the states thanks to a slight decrease in foreclosure activity in January. Nevada took the top spot with one new foreclosure filing for every 362 households.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Gentle January Foreclosure Increase
    Although they were up 57 percent from January 2007 and 8 percent from December, the January foreclosure numbers released today by RealtyTrac do not appear to represent the massive wave of foreclosures that is expected to hit sometime soon thanks to the rash of risky loans given to borrowers as late as just last year . Its too early too tell if the relatively meek January numbers mean more distressed homeowners are staving off foreclosure thanks to increasingly pro-active lenders and government intervention , or if they just represent the first few raindrops of what will prove
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • U.S. Foreclosure Activity Dips in February
    foreclosure activity eased down 4 percent from the two-year high achieved in January. Still, the 130,786 foreclosure filings reported in February — one foreclosure filing for every 884 households — represented the second highest total reported since RealtyTrac began issuing the report in January 2005. February foreclosure activity was down 4 percent from January but up 12 percent from February 2006. RealtyTrac released its February U.S. Foreclosure Market Report today, and the report shows that U.S.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Foreclosures Begin 2007 at Two-Year High
    New foreclosure activity in January hit its highest level since RealtyTrac began issuing a national foreclosure report two years ago, with 130,511 new foreclosure filings reported during the month. That was up 19 percent from the previous month and up 25 percent from January 2006. After dominating the headlines with the highest state foreclosure rate for much of 2006, Colorado’s foreclosure rate dropped to fourth highest among the states thanks to a slight decrease in foreclosure activity in January. Nevada took the top spot with one new foreclosure filing for every 362 households.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Short sales rising
    Nationwide, a total of 130,511 new foreclosure filings were reported in January, a 19 percent increase from the previous month and a 25 percent increase from January 2006, according to ReaaltyTrac’s U.S. January’s total was the highest since RealtyTrac began issuing its report in January 2005. Scanning the Southern California Multiple Listing Service (MLS) last week, the one thing that stands out is the growing number of short sales. Last year, you rarely saw the phrase “short sale” in the MLS property description.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Home Price Appreciation Stays Sluggish
    The Office of Federal Housing Enterprise Oversight’s House Price Index for the fourth quarter of 2006 shows home prices were up 1.1 percent year-over-year increase reported in the third quarter of 2006. Not coincidentally, Michigan documented the nation’s second highest foreclosure rate in January 2007, according to RealtyTrac’s U.S An index issued Thursday suggests the nation’s sputtering housing market is running low on the fuel it needs to accelerate — price appreciation. percent from the previous quarter and up 5.9
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Feb. Foreclosure Report: Are We at Bottom Yet?
    The February monthly decrease is more likely a seasonal decrease helped along by a shorter-than-average month and the fact that Januarys numbers are often padded with some pent-up foreclosure activity from the holiday season. foreclosure activity was down 6 percent from January. The more important indicator is the year-over-year increase, which has been between February foreclosure activity was down 4 percent from the previous month but still up 57 percent from February 2007, according to the latest RealtyTrac U.S. Foreclosure Market Report .
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • U.S. Housing Starts Rise, Though Permits Fall
    million units economists had predicted and the largest monthly increase since January 2006. The pace of new home construction jumped in February by the largest amount in more than a year, but building permits continued to decline, indicating future weakness in the housing market, according a new Commerce Department report today. Total housing starts rose 9 percent to a seasonally adjusted annual rate of 1.5
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Home Prices Fall Deeper Into the Abyss
    percent from May 2007 to a level below where home prices stood back in January 2000. Washington, Los Angeles, New York and Miami are highlighted in a S&P press release as the best performing markets overall since January 2000. Since August 2006 there has not been one month where we have seen overall price increases, as measured by the two Composites,” said David M. Homeowners across the country may be feeling a bit like Mel Brooks’ character from his movie “High Anxiety” now that Standard and Poor’s has released its May numbers for the S&P/Case-Shiller Home Price Indices .
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Housing glut gives foreclosure buyers and investors advantage
    Home prices and sales plunge Sales of existing single-family homes declined in 40 states and in half of the nation’s biggest metropolitan areas in the last three months of 2006, according to the National Association of Realtors . Housing starts tumble sharply New residential construction fell sharply in January, plunging 14.3 For real estate Storm clouds are gathering over the nation’s battered housing market. Depending on whom you ask, the forecast calls for either thunderstorms or gale force hurricane winds.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Subprime Market Sinking Further Into the Abyss
    Borrowers began feeling the effects of those resets during the second half of 2006. which just last month was boasting an increase in loan production for January 2007 over numbers reported for the same month a year earlier. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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