70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value, including Miami, Florida which is seeing unparalleled appreciation in the single family home market and … [Read more...]

2013 New York Housing Market

A dearth of apartments for sale means Manhattan sellers are enjoying a market titled firmly in their favor. According to DNAinfo.com (“Year of the Frustrated Buyer Awaits Manhattan Real Estate Market,” April 2, 2013), “buyers can forget about low-ball offers. There was a 26.8 percent rise in the numbers of homes sold after price increases in the first quarter of 2013 compared to last year. There were 41.3 percent fewer price cuts for the … [Read more...]

U.S. Real Estate Market Rebound

Recovery Forecast Not Until 2011 The U.S. real estate market will take at least three years to recover from its massive slump and it won’t fully rebound from the mortgage mess until at least some time in 2011, Housing Predictor forecasts. Housing Predictor analysts forecast the overall U.S. economy will suffer from a recession as a result of the crisis, which they expect to become evident in the nation’s overall economy by the third or … [Read more...]

Olympics Trigger Huge Boom, But Little in Home Values

By Ryan Jackson Six cities that hosted the Olympics in the last quarter century have experienced huge construction booms with new projects needed to house the games, but the majority found little appreciation in home values or other property inflation following the games. In fact, three of six Olympic cities, including Los Angeles and Atlanta experienced negative impacts on home values following the Olympics. Calgary also saw its housing … [Read more...]

Homeowners Living Free Longer

By Mike Colpitts Homeowners facing foreclosure in default on mortgage payments are living longer in their homes without making loan payments than ever before, according to foreclosure firm RealtyTrac. The lengthy foreclosure process is good news for homeowners in desperate straits able to live in their homes for free, many of whom are unemployed or underemployed. The foreclosure pipeline is so clogged that bank servicing companies are having … [Read more...]

Hardest Hit States Foreclosures Slow

By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation's housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years ago. Nevada experienced a 66% drop in foreclosures in the last year, according to RealtyTrac figures. The drop … [Read more...]

70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value, including Miami, Florida which is seeing unparalleled appreciation in the single family home market and … [Read more...]

Foreclosures Jump Resumes After Robo-Signing Slowdown

By Mike Colpitts Foreclosure starts rose for the first time in more than two years in May, signaling a resumption of formal bank repossessions of homes with mortgages in default after months of slower foreclosures. Initial filings were lodged against 205,990 U.S. residential properties, according to RealtyTrac. The increase accounted for a 9% hike in bank filings for the month after lenders resumed preparations to take back properties … [Read more...]

Four Million US Homes Risk Hurricane Damage

By Mike Colpitts As homeowners move to coastal areas in unprecedented numbers, more than 4 million are at risk of suffering storm damage from hurricanes, a new all-time record high, according to an industry research report. This years CoreLogic report indicates that slightly more than 4 million homes along the Atlantic and Gulf Coast regions are in danger of sustaining damage from hurricane related storm surge. The homes are generally … [Read more...]

‘Psycho Character’ Commits Home Foreclosure Scam

By Mike Colpitts Millions of homeowners are suffering through foreclosures, but this guy takes the CAKE! It’s right out of the classic Alfred Hitchcock horror movie Psycho. In a truth is stranger than fiction tail, a Brooklyn man dressed up as his dead mother and "channeled her" to commit real estate fraud in an effort to fight the foreclosure of his late mother’s home. Authorities say Thomas Parkin, 51, didn’t fool anyone when he … [Read more...]