Sheriff auctions and foreclosures hit the commercial property market of New Jersey in 2010. Although filings dropped, foreclosure numbers remained high.
The case of foreclosed homes flooding the market is even worse than what you think. Besides what is listed, ghost inventories or those not listed are even more.
California lost around 250,000 homes to foreclosure last year, breaking 2007’s record. With the continued crisis, how many more homes will be repossessed? How many more records will be broken?
Sacramento's sales rate for foreclosed homes has surpassed the sales rate for new homes as of October, with 18,491 units sold out of a total of 23,572 repossessed properties.
Consumer advocates have criticized the 90-day California foreclosure moratorium arguing that several unclear provisions will only hinder the law from reducing the number of foreclosed homes.
Pre foreclosures in Fort Myers are still contributing to the sharp drop in property values in the area. Over the past 12 months, real estate values in Lee County have fallen by 15 percent.
Contractors in California and in other foreclosure-hit areas in the country are earning from restoring repossessed homes before they are put by lenders into foreclosure listings.
U.S. cities that have high levels of foreclosed properties at house auctions are more vulnerable to market depression in 2011. Analysts stated that values of homes will drop further during the year.
Higher-end homes are now selling in San Francisco Bay Area's real estate market which was once dominated by bank owned homes sale. But experts believed that the second wave of foreclosures will once again allow repossessed homes to dominate the market.
The number of foreclosed properties, including Fannie Mae repos, rose again in Indianapolis for July 2010. The foreclosure rate of the city was above national average for the month.
The number of house auctions for sale and foreclosure activity in general declined in the U.S. for April. Lenders repossessed a big number of properties during the month, but did not start foreclosure action in many of them, resulting in foreclosure activity statistics recording a decline.
A U.S. Army Reserve soldier assigned in Iraq returned to the country to discover how much influence homeowners associations have when it comes to the issue of foreclosure and repossessed homes. Captain Michael Clauer's home was foreclosed by a HOA and was later sold without his knowledge.
Real estate owned foreclosures for sale increased in San Francisco. In the past few years, the area had one of the lowest rates of foreclosure in California.
There are more opportunities to purchase fixer upper homes in Florida, as there were more than 42,000 homes taken back by banks in the first five months of 2010.
Vacation home and federal foreclosures are the ones still in high numbers in Minnesota. The price median shot up by 9 percent to $155,000 in April partly because of second home foreclosures.
Bank owned homes for sale are being sold off to cash buyers across the country, according to members of the National Association of Realtors. In Miami and Las Vegas, cash purchases accounted for 54 percent and 46 percent of all home sales, respectively.
Industry experts noted the increasing number of second houses in Southern New Jersey’s bank foreclosed homes listings. The state of second-home foreclosures has led to the creation of a service for property renters.
A federal judge has issued a ruling that allows Bank of America to sell bank owned foreclosures in Utah. The ruling overturns an order by a state court made on May 22 which disallowed the bank from selling foreclosed properties in the state.
The commercial real estate market of Las Vegas continues to struggle as the retail sector declines. A number of commercial premises remain vacant in the city.
The Florida housing market continues to get battered by high foreclosure rates and increased number of FHA repo homes, while alleged faulty documents create more problems for homeowners.
As foreclosures statistics rise, the rate of homeownership in the U.S. declines. According to analysts, the 2010 third quarter is the lowest period for homeownership for the full 10-year period.
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