By Kevin Chiu Mortgage defaults, the first step homeowners face in the foreclosure process, surged higher during the month of June demonstrating an increase in future anticipated foreclosures growing at the fastest rate in more than a year, according to Lender Processing Services, a real estate data supplier which tracks defaults. The surge in mortgage defaults shows the expected rise in foreclosures may be just months off as the housing … [Read more...]
Real Estate Crash of the Century
By Kevin Chiu The real estate market is under going the crash of the century and there’s no bottom of the market developing in the hardest hit areas of the U.S. The housing market alone has suffered more than 7-million residential foreclosures since the crisis started, and like a bottomless pit home prices are declining in the majority of the nation. Those regions that are experiencing low unemployment levels that were mainly out of the … [Read more...]
Home Prices Rising in Dakotas, Alaska, Texas
By Mike Colpitts In places where jobs are more plentiful and workers are in demand local economies are doing much better than the majority of the U.S. and many housing markets are beginning to even see home prices rise. North Dakota, which now produces the fourth largest amount of oil in the country, Alaska and some Texas markets are witnessing home prices rising. The move towards higher housing values isn’t an anomaly in these tough … [Read more...]
Sarah Palin’s Daughter Turns Landlord
Former vice presidential candidate Sarah Palin’s daughter Bristol is becoming a landlord in Phoenix. The ex-Dancing with The Stars contestant, whose out of wedlock pregnancy alarmed the Republican religious right wing during Palins run to win the vice presidency, has moved out of her Phoenix area home, and has put it on the market as a rental. The five bedroom, 2 ½ bath two-story home will rent for $1,400 a month. It was built in 2005 and … [Read more...]
Shadow Inventory Falls 200,000 Homes
By Mike Colpitts The inventory of U.S. homes that have not yet been foreclosed but are in financial jeopardy recognized as the shadow inventory has declined by 200,000, according to real estate research firm Core Logic. The current residential shadow inventory is 1.8-million units, which represents a nine months supply of inventory at present sales volume. The company estimates the shadow inventory by calculating the number of distressed … [Read more...]
2011 Alaska Housing Market
The numbers tell the story in Alaska. A mix of low risk mortgages helped to protect housing markets from the foreclosure crisis and other troubled home sales. Half as many homeowners in Alaska purchased subprime and adjustable rate mortgages as buyers bought more conservative mortgages, resulting in fewer foreclosures. The Alaska Department of Labor announced the finding made through a study by the Mortgage Bankers Association as Alaska … [Read more...]
2010 Alaska Housing Market
The recessionary economy slowed housing sales and new home construction in Alaska as the housing market was protected from the bottom falling out. Major national lenders that made newly developed creative mortgages blamed for much of the housing bust weren't made in Alaska. As a result, the state is seeing few foreclosures and is already showing signs of recovering. After nearly 20 years of growth and prosperity Alaska's economy had been so … [Read more...]