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Several federal and state programs meant to provide assistance in foreclosure have been launched in the past couple of years. However, these programs were unable to stop the flood of distressed properties all over the U.S. which are now causing housing prices to tumble. In New Jersey, a number of local markets are experiencing plummeting prices as foreclosures continue to increase.
Continue Reading: Distressed Homes Still High Despite Assistance in Foreclosure Effort
Residential property sales in Birmingham, Alabama declined in March 2011 compared with one year ago, while distressed listings continue to account for a considerable part of total housing sales. Nearly 40% of houses sold in the metro area during the month were foreclosed or distressed. Meanwhile, average prices were up, but median selling rates have declined.
Continue Reading: Distressed Listings Account for Huge Percentage of Home Sales
Realtors in Sacramento County, California reported that home prices continue to decline in the area as investors took advantage of the low prices of distressed properties and snatch them in huge numbers from the market. Housing sales though, showed some improvements in February 2011 compared with one year ago.
Continue Reading: Distressed Properties Weigh Down Median Home Prices in Sacramento
According to housing market analysts, the rise in the number of properties falling into foreclosed and distressed listings has escalated demand for apartments and other forms of rental housing in the U.S. The trend is highly evident in metro areas like Seattle, Washington.
Continue Reading: Foreclosures and Distressed Listings Drive Demand for Rentals
Distressed properties are quite big among investors in real property because these homes are easy to repair and resell for a huge price mark up translating to handsome profits.
Continue Reading: Sitting on the Distressed Properties Goldmine
One can find distressed listings and foreclosed houses by the thousands in California. Some people think that only the unemployed and low-income households fall victim to foreclosures, but this is not the case anymore, particularly in California. Recently, a famous baseball player felt the impact of the housing market crisis.
Continue Reading: Famous Homeowners Find Distressed Listings Do Not Discriminate
Beazer Homes, a housing developer in Charlotte, North Carolina, has agreed to pay a settlement fund worth $50 million after it was accused of using sales tactics that contributed to the high number of foreclosed properties and distressed homes for sale in its starter housing developments.
Continue Reading: Developer’s Tactics Led to Higher Distressed Homes for Sale Numbers
It is likely that no properties will be added to distressed house listing for at least a few weeks in some areas of Pennsylvania as some local banks join Bank of America and other major lenders in the U.S. in putting foreclosures on hold while they review documents.
Continue Reading: Distressed House Listing in Standstill As Banks Halt Foreclosures
The housing market of Chicago, Illinois is on the verge of recovery, with problems related to distressed properties listings and foreclosures expected to ease soon, according to Mack Industries Inc. founder Jim McClelland. Mack is a residential development firm that specializes in bank owned homes.
Continue Reading: Distressed Properties Listings in Chicago Expected to Improve Soon
With the number of properties under distressed property listings continuing to increase in Pennsylvania, the state is facing further problems when it comes to housing. A report by the Housing Alliance of Pennsylvania reveals that the state has a shortage of affordable for rent homes and this is affecting low income families in the state.
Continue Reading: Distressed Property Listings Expanded in Low Income Areas
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