2013 South Carolina Housing Market

South Carolina’s economy continues to limp along following the Great Recession, but pent-up demand from those seeking property is fueling a gradual real estate market recovery. The real estate markets in Columbia and South Carolina in general have improved consistently over the last 18 months. Sales are up, construction is up, and inventory is down. While the state has struggled with high unemployment for several years, it is seeing some … [Read more...]

Declining Foreclosures Bring Better Times

By Mike Colpitts Foreclosure activity declined 25% in the nation’s most populated state, California from one year ago in July, but the Golden State holds the distinction of having more foreclosures than any other. In fact the two highest foreclosure states, which are California and Arizona, are down in foreclosure filings. Nevada, which had been at the top of the list more than five years until earlier this year when the state imposed a new … [Read more...]

5 Best Beach Vacation Home Bargain Cities

The surf meets the sand in the heat of summer. Whether this is the year to buy that beach vacation home or not is another thing. If you're considering the plunge, these are the best 5 beach home bargain cities to buy a foreclosure home or condo. Foreclosure News Report ranked U.S. metro areas across the nation based on the average discounts on foreclosure purchases, and then examined popular beach cities to determine the top beach towns for … [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...]

60 Minutes Whistleblower Gets $18 Million

By Mike Colpitts A Florida attorney, who was one of the first in the nation to be a whistle blower in the banks robo-signing scandal by exposing her own foreclosure to public ridicule, will be paid $18 million to settle claims over the 2009 botched foreclosure of her condominium unit. West Palm Beach attorney Lynn Szymoniak will get the money from a $95 million fund South Carolina will receive from the nation’s largest five banks agreeing … [Read more...]

2012 South Carolina Housing Market

As home and condo sales rise in South Carolina, the market is encountering a record high number of foreclosure sales, which are sending the home prices to the lowest levels in more than a generation. Severe unemployment and massive underemployment has left tens of thousands of homes vacant. The foreclosure crisis is critical in Columbia, the states largest city, where more than one in six homeowners are in jeopardy of either losing their home … [Read more...]

Home Prices Tumbled Less in 2011

By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm said prices fell 1.4% in October, which marked the fourth straight month home values … [Read more...]

Riskiest Real Estate Bet in 2012

By Kevin Chiu Vacation destination housing markets like Honolulu, posh Hilton Head, South Carolina or beautiful Miami Beach have challenges of their own, and they may be the real estate industry's riskiest bet in 2012. Each hold traditional housing markets with year-round residents, but the condominium and vacation homes that are sought by vacationers and make up their resort markets are a whole other brand of real estate. Vacation … [Read more...]

Homeowners Crisis Builds New Wave

By Matt Weidner I’m a soldier, a street fighter, an attorney battling foreclosures on behalf of homeowners at the ground level, in the trenches, in courtrooms all across Florida. Let me save you the suspense and get right to the point. Things are worse than they've ever been and they are only going to get far, far worse as the foreclosure crisis builds a new wave. Ignore whatever fantasy and misinformation is spewing forth from the … [Read more...]

Best Bargain Real Estate Cities

By Mike Colpitts The best U.S. cities to find a bargain in real estate are made up of some of the hardest hit communities in the nation's housing market downturn. Housing Predictor analysts scoured the nation in efforts to find the best bargains in housing, and set up a rigid set of requirements to meet. Since the 3-bedroom home is the most popular commodity in housing we included it in our criteria along with two bathrooms, a minium of … [Read more...]