2013 Delaware Housing Market

Experts predict real estate markets in the northeastern United States will perform poorly compared to the rest of the country in 2013. Among these, Delaware, New Jersey, eastern Pennsylvania, Connecticut, and downstate New York are expected to be perform the most weakly. However, many Realtors tout Delaware as an excellent real estate market for prospective primary or second homowners owing in part to its proximity to New York City, … [Read more...]

Worst Housing Markets 2012

Little by little even the worst U.S. housing markets forecast for the year are getting better. The hardest hit 25 cities projected by Housing Predictor in 2012 have had some major changes, including the elimination of Las Vegas, Nevada as Sin City makes its way back from the worst real estate crash in the nation’s history. Home sales have been soaring in Las Vegas for six months and home prices are on their way up in many areas, despite a r … [Read more...]

2011 Delaware Housing Market

Troubled by the banking industry and its former appetite to take excessive risks, Delaware's housing markets are in the midst of one of the nation's toughest real estate crashes even after the federal home buyer tax credit increased home sales for a time. The collapse of the housing market is especially hard hit in the southern half of the state, where foreclosures are climbing amid record mortgage defaults. The scene in southern Delaware … [Read more...]

Home Price Appreciation Jumps 2.5% for Year

By Mike Colpitts For the fourth straight month home values have increased in appreciation across the U.S., according to real estate research firm CoreLogic. Prices increased 2.5% in June compared to a year ago in the 100 largest metro areas the company tracks. On a month-over-month basis, including foreclosure and short sales, home price appreciation rose 1.3% in June compared to May 2012. The company’s forward looking Home Price Index shows … [Read more...]

Housing Index Shows Upward Trend

By Mike Colpitts Home prices declined an average of less than one-percent in the U.S. on a year to year basis through the end of March, according to a heavily watched housing price index indicating an upward trend for the marketplace. The CoreLogic index showed that prices were down 0.6% from one year ago, including distressed properties, which are foreclosures and bank assisted short sales. The index monitors 100 of the nation’s largest m … [Read more...]

2012 Delaware Housing Market

Occupy Wall Street protestors in one Delaware community are so upset with the massive foreclosure crisis that they are disrupting sheriff foreclosure auction sales. The Occupy Delaware protestors stood as the sale was about to start at a New Castle County sheriff’s sale and read a prepared statement demanding a halt to the home sales until banks work with homeowners to resolve their differences. The housing market in Delaware will continue u … [Read more...]

Feds Launch Mortgage Task Force Investigation

By Mike Colpitts More than three years after announcing he would launch a federal task force to investigate the mortgage crisis, President Barack Obama has finally launched a federal probe into the U.S. largest financial institutions. New York Attorney General Eric Schneiderman, who pulled his state out of the 50 state robo-signing investigation, sent subpoenas to the largest banks to start the investigation. The president announced the … [Read more...]

Banks Mortgage Settlement Hangs in Jeopardy

By Kevin Chiu A proposed settlement between big money mortgage giants and U.S. states hangs in jeopardy after Delaware rejected the settlement as an unfair deal for homeowners. State Attorney General Beau Biden broke with fellow AGs rejecting the settlement. The proposed settlement between the attorney generals would dedicate $17-billion from lenders to go towards reducing mortgage principal for struggling homeowners. Another $5 billion … [Read more...]

Homeownership Drops by Largest Amount Since Great Depression

By Jeanne Roberts It’s probably no surprise that the number of individuals owning homes has experienced its biggest drop since the Great Depression, an epoch usually defined as the decade between 1929 and 1939. The figures are from the U.S. Census Bureau, and show that the rate of homeownership fell to 65.1% in April 2010, or 1.1% lower than it was a decade earlier. This is compared to ownership levels of around 70% in 2005, which means a d … [Read more...]

HUD Launches Emergency Home Loans

By Mike Colpitts In a move that has been awaited more than a year, the Housing and Urban Development Department launched the Emergency Homeowners Loan Program to help unemployed homeowners at risk of foreclosure in 27 states. The program is slated to help only a small number of troubled homeowners during its life-span. The White House estimates that 30,000 distressed homeowners will be helped through the plan. Homeowners at risk of … [Read more...]