Foreclosures that were previously caused by bad loans and poor payment management have shifted gear and are now driven by unemployment or lost of income.
There has been a lot of excitement and confusion about the new tax credit enacted by the Obama administration for first time home buyers. Here are answers to some of the more commonly asked questions.
Rather than using their home equity to maintain their lifestyle during their retirement, an increasing number of older people are tapping into reverse mortgages to protect them from losing their homes.
As the economic environment continues to deteriorate house prices in the US are expected to continue heading downwards. Within this context, a key question for property investors is how much more house prices will fall before they bottom out. The April 2009 Wall Street Journal survey of experts provides some clues with respect to this question.
Tom Suozzi, county executive of New York's Nassau County, has launched Long Island's Housing Crisis Task Force to stabilize the housing market and help prevent foreclosures.
Detroit has become the target of out-of-state and foreign real estate investors because of its stock of bargain-priced foreclosed homes, putting Michigan sixth on rankings of foreclosures by state in 2008.
In a bid to finally stem the tide of foreclosures, the government released a new modification plan aimed to rework loans handled by Fannie Mae and Freddie Mac.
President Barack Obama has changed his administration’s housing policy by abandoning the ownership program. Instead, the federal government plans to invest in purchasing foreclosure houses to be renovated and rented at affordable rates.
Housing market experts say that the decline of home foreclosures in California is not a positive trend. Experts say that this decline will only slow down the time it takes for the housing market to recover.
Investors looking for fixer uppers laden are grabbing cheap properties away from local governments in Florida. This rendered the federal homebuying program useless as local governments could not compete with cash-rich investors when it comes to purchasing foreclosure properties.
In Miami, Atlanta, Louisville and other cities, squatters have been occupying repo homes through the help of community workers and human rights advocates.
Recent stats indicate that home sales for June in Vancouver have dropped over 30% compared to last year's numbers. Vancouver is not alone as Toronto saw a drop of 23% and Calgary is showing a decrease of close to 40% for the same time frame. In order to combat these figures, prices will have to come down significantly.
Apparently it's not all doom and gloom in the housing market this holiday season. The Mortgage Bankers Association registered a 37 percent increase in applications for house loans and a 39 percent increase in home purchases using FHA mortgages; as reported by Kenneth R.Harney of RealtyTimes.com. Not only were applications for refinancing pouring in, but also applications for new purchases. In a market that has been stagnant for months, this is big news.
President Obama has been encouraging Americans to take advantage of falling mortgage rates and the government foreclosures program which include loan modification and refinancing initiatives.
Due to the materials used to make shipping containers, they can be easily recycled into new containers and other steel items, but using them "as is" to build homes can save energy as well as recycle the materials. There are a number of concerns that some people have about these container homes but there are also many advantages as well.
Housing industry experts are predicting a decline in bank foreclosures totals in the U.S. for 2011. The projection is mainly due to the anticipated drop in delinquency rates.
The UK property market appears to be slowly recovering from the severe drop the sector has experienced in recent times. Although the market does not appear ready to spring back to its former glory, signs of recovery are slowly relieving homeowners of a large burden.
Many bargain-hunting buyers are grabbing Florida foreclosure homes because of the continuous drop of home prices in the state. Home sales in the state rose by 20 percent last month.
Freddie Mac's decision to suspend government foreclosures on at-risk loans that are eligible under any housing initiatives is a sign of its commitment to guarantee the success of the Home Affordable program.
Where are the former occupants of foreclosed homes now? According to Douglas Robinson of nonprofit Neighborworks America, many of them have been going to various homeless shelters or living in cars, parks, tents in out-of-the-way areas or on the streets.
To be a good asset manager in the real estate industry one should have the skills to improve your multifamily property. The main goal of any asset manager is to increase their NOI (Net Operating Income) to generate maximum return on investment on their multifamily apartment building.
A mansion once standing as among the most spectacular mansions in the city of San Diego is now just one of thousands of foreclosed homes in California. Not only that, it was also stripped of about one million dollars worth of fixtures, equipment and appliances.
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