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Dennis Norman A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of June 2010 shows some encouraging news; there are signs that the foreclosure and mortgage delinquency rates are stabilizing, albeit at very elevated levels. Tweet This Post Dennis Norman In a report just issued by Radarlogic there is some good news for the housing industry as in the report Michael Feder, President and CEO of Radar Logic, states “the evidence continues to support the view that housing has stabilized and is in the early stages of recovery.” However, the report also reminds Continue reading… Record Foreclosure Rate Could Hurt Demand For Homes and Slow Recovery It’s not surprising, that according to Zip Realty foreclosures and short sales dominated the U.S. housing market last year and were the driving force for the real estate roller coaster ride of 2009. Zip Realty broke down what they considered were the nine major real estate stories for 2009 and they are: Tweet This Post Dennis Norman Fannie Mae just announced their new “First Look” initiative which is aimed at supporting neighborhood stabilization and promoting home purchases by owner occupants by providing owner occupants an advantage in purchasing Fannie-Mae-owned foreclosed properties. Under the First Look program only offers from owner occupants and buyers using public funds are considered during the first 15 Continue reading… Owner occupants get first shot at Fannie Mae foreclosures under ‘First Look’ initiative Dennis Norman The percent of American home owners with mortgages in a negative equity position fell to 21 percent in the third quarter of this year, down from 23 percent in the second quarter, as home values stabilized in the short term and more underwater homeowners lost their homes to foreclosure, according to the third quarter Continue reading… Fewer home owners are underwater on their homes according to Zillow report Dennis Norman By: Dennis Norman Yesterday the Federal Housing Finance Agency (FHFA) released its foreclosure prevention report for July, 2009 for Freddie Mac and Fannie Mae loans. After reviewing the data in the report I would say if you are an agent that works REO’s and/or short sales, you are going to have a steady stream Continue reading… Short sales up 268 percent from a year ago; Serious mortgage delinquencies up 147 percent for same period By: Dennis Norman I just did a post to a real estate investors blog about a video by Steph Davis, the Tampa-based bartender turned wholesaler, on how investors can use the MLS to locate cash buyers for their “flip” deals. While doing this, I realized many agents may find this information useful as well. With a Continue reading… Using the MLS to find cash buyers for your foreclosures, REO’s and short sales Dennis Norman By: Dennis Norman The foreclosure rate in the U.S. for the month of August, 2009 was 2.86 percent, a 73.3 percent increase from August, 2008 when the rate was 1.65 percent according to a report released yesterday by First American CoreLogic. In addition, the report showed that the number of borrowers that are seriously delinquent Continue reading… Foreclosure rate in U.S. increases 73 percent in August from a year prior Dennis Norman By: Dennis Norman Doing what all normal people do at 4:30 am on a Monday, I was scouring the Internet reading real estate news when I ran across an interesting article by Richard Stoyeck titled “Is Real Estate Coming Back Now?” I’ll cut through the chase and give you Stoyeck’s answer to the question posed Continue reading… Nine out of ten sales distress or forced sales? By: Dennis Norman While there have been positive reports recently about the housing market, specifically existing home sales and, to some extent, a stabilization of prices, unfortunately there is plenty of bad news on the housing market as well. For one, the number of foreclosures in the U.S. remains at near record highs. RealtyTrac(R) released their August Continue reading… Foreclosures remain at near record levels in August By: Dennis Norman There just seems to be no end in site for the sickening numbers of foreclosures we are seeing take place in the housing market. While, it is hard to argue that foreclosures have helped agents by providing a steady supply of homes that need to be sold, regardless of the price, I think Continue reading… Forecast predicts 2.8 million homes in foreclosure by year end Dennis Norman By: Dennis Norman According to a report issued by the Office of the Comptroller of the Currency (OCC) as of June 2009 there were nearly 2 million foreclosed homes. Many of these foreclosed properties are still vacant and in need of repairs. Many buyers are seeing these foreclosed homes as an opportunity to buy a home Continue reading… An FHA 203(k) loan may help your clients purchase foreclosures |
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