7 Articles match "Detroit","Home Prices","Real Estate"

• The Best from RealtyTrac

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• Home Prices Fall Deeper Into the Abyss
  
  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 . Home prices in its original composite 10 metro areas fell to a new record low, down 16.9 In the movie, Brooks’ character nervously sweats every time he even thinks about getting into an elevator. Well, the nation’s homeowners are sweating it out now, being taken on the descending elevator ride of their lives, especially
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• California Tops PMI's Risk Index
  
  Seven out of the 10 riskiest housing markets in the nation for home price deflation over the next two years are located in California, according to the Winter 2007 PMI U.S. percent chance of lower home prices nationwide over the next two years. Of the top 50 metros, 19 face a more than 50 percent chance of declining home prices through the end of 2008. Market Risk Index just released by the PMI Mortgage Insurance Co. Studying the 50 largest Metropolitan Statistical Areas (MSAs) in the nation, scores increased for 34 out of the nation’s top 50 over
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Make Food, Not Foreclosures
  
  Similar to other parts of the nation’s Rust Belt, the county’s real estate market — particularly Detroit — is suffering. Contributing to the downfall are high unemployment, low home sales volume and deflating home prices. The pilot program would start with 20 plots, with the City of Detroit donating the water. A non-profit group has launched a program to turn former foreclosures into farmland. National Public Radio is reporting that the non-profit group Urban Farming requested that Wayne County, Mich.,
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• A Small Silver Lining in Q1 Foreclosure Storm
  
  The notable exceptions included Detroit — a longtime posterchild for the foreclosure meltdown — and Philadelphia, along with a few other Pennsylvania metro areas. Foreclosure activity in Detroit was down nearly 4 percent from the first quarter of 2007, although the citys foreclosure rate still ranked No. Dispatches from Detroit indicate that free-market forces may be the catalyst. While foreclosure activity in the first quarter of 2008 was up on a year-over-year basis in 90 percent of the nations 100 largest metropolitan areas, according to the RealtyTrac Q1 report issued today, there were a few notable exceptions that could prove to be a harbinger of hope for the nations battered housing market.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Economic Indicators: Image Is Everything
  
  When it comes to purchasing real estate — either as a primary residence or as an investment — perception is everything. So it is with real estate. Four real estate industry related reports have already been released this week, and Wall Street has reacted. When reports of telltale economic indicators are released, if Wall Street perceives them as bad, the market takes an immediate tumble. But when the indicators reported come is as expected, the reaction is generally good and we see an uptick in market activity.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Realtors '07 Forecast Looks Promising for Future Foreclosure Activity
  
  If California’s economic indicators stay at their present course, 2007 should be a very good year for investing and purchasing foreclosure properties at bargain prices. At Wednesday’s Opening Session of California Realtor EXPO 2006, Leslie Appleton-Young, Chief Economist for the California Association of Realtors, presented her housing forecast for next year , calling for the state’s median home price to drop for the first time in 10 years and the pace of home sales to continue to decrease. LONG BEACH, Calif. — The CAR forecast also calls for a 2 percent drop in the state’s
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure Filings Soar 90 Percent
  
  Saccacio, chief executive officer of RealtyTrac, said a jump in foreclosures at a time of year that traditionally is the busiest for home sales means the slide in prices probably isn't over. “Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year,” said Saccacio. “Certainly Certainly not every community nationwide is seeing an increase in foreclosures, but foreclosed properties are becoming more commonplace and adding to the downward pressure on home prices in many areas.” A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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