Foreclosures Drop Two Straight Months

By Mike Colpitts Demonstrating the U.S. largest five banks are following rules agreed to in their $25 billion settlement with 49 state attorney generals, foreclosures saw a drop for two straight months in March as lenders increased efforts with home mortgage holders, according to RealtyTrac. The drop in foreclosure activity showed there were 198,853 filings against U.S. residential properties during the month, a 4% decline from February … [Read more...]

2012 Indiana Housing Market

Higher prices paid for corn and soy beans to farmers are having a major impact on the Indiana economy as it makes strides to improve from its housing downturn. Lower home prices combined with close to record low mortgage rates are driving a reemergence of home buyers in some areas of the state. The decline in inventory of homes listed on the market is aiding Indianapolis in its housing recovery. Job gains in some sectors are contributing … [Read more...]

Foreclosures Rise in October, But Nevada’s Chill

By Mike Colpitts Foreclosure auctions, the final step in the formal bank repossession process increased in October, rising 8% from the prior month as foreclosures in states that require courts to formally approve foreclosures moved higher recovering from bank moratoriums. But Nevada saw a major drop in foreclosures as a result of a new law going into effect. Default notices were filed against 77,722 U.S. residential properties during the … [Read more...]

Mortgage Defaults Edge Up in August

Mortgage defaults were filed for the first time against the largest number of homeowners in more than four years in August as foreclosures surged higher for the month, according to RealtyTrac. Foreclosure auctions and formal lender repossessions were filed against 228,098 homes during the month. The figure represented a 7% surge in lender takeovers for August, with one in every 570 U.S. households receiving a foreclosure notice of some form … [Read more...]

Home Buying Affordability Hovers at Best Level

By Mike Colpitts Home buying affordability hovered near its best level in more than 20 years in the second quarter of the year, according to the National Association of Home Builders-Wells Fargo housing index. The measure indicates that 72.6% of new and existing homes sold during the quarter were affordable for families earning the national median income of $64,200. The home buying affordability level dipped slightly from the record high … [Read more...]

2011 Indiana Housing Market

Pushed by the federal home buyer tax credit, home sales increased in Indiana, but then nearly fell off the charts after the credit expired. A recessionary economy, anchored in high unemployment and debt has turned the housing market into a long lasting depression in Indiana as foreclosures mount and homeowners increasingly walk away from their homes. Joblessness halts many possible homeowners from purchasing homes. In Indianapolis, the … [Read more...]

2010 Indiana Housing Market

Buoyed by federal aid housing sales are picking up in Indiana even as home prices slide. The drop in home values is attributed to a huge volume of foreclosed properties and over supply of homes weighing on the market. High unemployment and rising job losses in construction, retail sales, agriculture and auto related industries are pressuring the Indiana economy, and slowing any sort of real recovery in the housing market. A lift in home sales … [Read more...]