Short sales have been helping trim down lender foreclosures in New York City. The percentage of distressed sales in a number of areas of the city spiked in the first quarter to around 20 to 40 percent of total home sales.
Indianapolis distressed properties are expected to surge as default rate in the area increased to almost eight percent of all homeowners with mortgage loans. About 30 percent of all house sales in the area in 2009 were distressed sales.
Opportunities for real estate agents who specialize in short sales have been rising over the past months. More homeowners are opting for short sales and more lenders are approving short sale proposals.
The number of Orlando foreclosed homes for sale is still rising as unemployment continues to push more defaults and foreclosures. The median price for previously owned homes in February fell by 27 percent to $109,200.
As sales of housing units from Los Angeles foreclosure listings declined in March, home prices in the Los Angeles metro area increased. The sales price median in March in Los Angeles County rose by nearly 10 percent to $329,000 in March.
The recently passed law on mobile homes in Maryland is expected to help investors in mobile foreclosures. Mobile park owners are now required to provide ten months of park rent if they convert their parks for other use.
Chicago home foreclosures comprised 70 percent of all distressed sales in the area in 2009 while distressed sales comprised more than 34 percent of total home sales. Distressed sales also made up 50 percent of all house sales in 66 markets in the Chicago metro area.
Sacramento foreclosure listings are being curbed by short sale transactions and by the federal Home Affordable Modification Program. Almost 3,000 mortgage loans were put into permanent modification as of March.
Distressed property prices are still haunting home builders, based on interviews with economists and builders who participated in the International Builders Show in Las Vegas. Housing starts dropped by 39 percent to 554,000 in 2009 from 906,000 in 2008.
More homeowners in San Francisco avoid foreclosure. In April, the percentage of distressed sales dropped from 46.4 percent to 29.5 percent over the year.
Las Vegas home foreclosures bowed to traditional sales for the first time in 20 months in January this year. Sales of nondistressed homes shot up and accounted for 53 percent of all homes resold in January while sales of foreclosed homes dropped to 47 percent of total sales.
Sales of foreclosure homes in Southern Oregon dropped as a proportion of total home sales in October, but the 42-percent share of foreclosure sales and other distressed sales is still very high.
Jacksonville foreclosures for sale are expected by analysts to keep at bay the recovery hoped for by many residents. The rise in the unemployment rate in September drove further increases in foreclosures in the July to September quarter.
Jacksonville home foreclosures continued their downward pressure on home prices in 2009 and in January this year. The median price for single-family homes dropped to $152,200 in 2009 and further dropped to $133,990 in January this year.
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