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Fewer residential properties went into foreclosure in New York City in October 2010. Compared with October 2009, current figures showed that properties entering foreclosure lists of residential homes for the first time went down by 21%, although figures vary from one local area to another.
Continue Reading: Foreclosure Lists of Residential Homes Decline in New York City
A foreclosure notice worth $15.4 million was filed against the shopping complex Erindale Center in Colorado. The Center is the most expensive property under list of commercial foreclosures in the state so far this year, according to real estate market observers. The Center houses retail businesses like Tuesday Morning and Woodley's Fine Furniture.
Continue Reading: Colorado List of Commercial Foreclosures Adds Shopping Center
The month of July saw prices of residential properties, including those under commercial home lists, declining by 0.2% in Charlotte, North Carolina compared with June 2010. The figure was provided by the S&P/Case-Shiller Home Price Index, which also revealed that prices at seven other housing areas also declined, while 12 areas recorded higher prices.
Continue Reading: Prices of Commercial Home Lists and Residential Properties Dip in July
Even with abundant supplies of affordable homes under listings of cheap houses accounting for a large percentage of the Grand Rapids, Michigan residential market, majority of home buyers are still reluctant to venture into property ownership. Most residents prefer to rent dwellings in these difficult times, while others look at condominium units as safer bets than regular housing.
Continue Reading: Lack of Interest in Listings of Cheap Houses Does Not Affect Condo
As foreclosure listings grew in many housing markets nationwide in June, the Wells Fargo/National Association of Home Builders HMI or Housing Market Index fell to 15, a difference of one point from last month. The index, whose maximum level is 100 points, reached its highest peak in December 1998 when it reached 78 and had its lowest level in January, when it had only 8 points.
Continue Reading: NAHB Housing Market Index Fell as Foreclosure Listings Grew
Positive reactions on the foreclosure prevention initiative from mortgage professionals, local realtors and builders were noted a day after US President Barack Obama unveiled his program.
Continue Reading: Support for Obama’s Foreclosure Plan Comes from Various Sectors
One of the questions that most people ask at one point in their life is whether they are ready to buy a home. Of course, once they have decided that they are financially-ready, the next question is if the timing is right. Most buyers do not realize how many benefits they would enjoy if they would only take time to check out the market and find out if conditions are in their favor.
Continue Reading: Best Places to Buy with the Current Market Conditions
According to the Federal Reserve, more banks have decided to tighten their lending standards particularly on home loans including traditional prime housing loans, non-traditional mortgages (subprime and “interest only” mortgages). This decision is not remotely surprising as most of the banks have been losing much money over defaulting mortgages. Their large inventory of foreclosure homes are poised to get even bigger as sales activity remains sluggish.
Continue Reading: Banks Tightening Lending Regulations
At the same time, there will also be an increase in the market for bank foreclosures. Last year witnessed high foreclosure rates in some of the top metropolitans and this has created a database of foreclosed homes for first time home buyers. The availability of unusually high number of foreclosed properties also means that there will be more investors and buyers in this market than in the real estate market where the prices are sky rocketing.
Continue Reading: The Real Estate Market
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