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.
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.
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.
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.
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.
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.
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.
New York bank foreclosures in the housing sector increased in September and in the third quarter. Almost 15,300 foreclosure notices were filed in New York in the August to September quarter.
Finding single and multi family homes in Tucson is still a fairly easy task as foreclosure filings continue to rise. More than 37 percent of total home sales in April were distressed properties.
Colorado Governor Bill Ritter has received a $34 million federal grant under the Housing and Economic Recovery Act of 2008 to help abate the flood of foreclosures in the state.
The first six months of 2010 saw Tennessee foreclosures remaining practically the same as the second half of 2009. However, foreclosures did rise when compared with the first half of 2009.
Analysts predict that commercial properties in Colorado will encounter a huge problem in the next few years. They stated that it is likely to rival the impact of list of repossessed homes for sale.
Home prices in Michigan, particularly in the counties of Macomb and Oakland, have fallen by 12 to 22 percent due to the continuous addition of foreclosed properties to the market.
Fort Lauderdale-based Bank of Florida finally succumbed to foreclosure properties auction on May 28. A combined total of $47.3 million in failed construction and development loans by seven developers knocked down the bank.
There are low-cost ways to stand out when flipping houses in Chicago. Over 9,000 more units entered foreclosure in the first quarter, so sellers need to make their properties stand out to beat the competition.
Several areas of Georgia posted higher numbers of residential foreclosures, including townhouse houses for sale, for the month of October 2010. The increase is minimal in most places.
Foreclosure homes for sale continued to make life difficult for homebuilders in the U.S. last year. For 2011, analysts predict that it will be much the same.
HUD Secretary Shaun Donavan has called on banks to take aggressive actions to ensure that the Obama Administration's foreclosure prevention initiative will succeed.
Print This Article
Add To Favorites