Showing posts with label foreclosure. Show all posts
Showing posts with label foreclosure. Show all posts
Friday, April 30, 2010
2:31 PM
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HOT SPOTS!!! Foreclosure

Cities in California, Florida, Nevada and Arizona once again accounted for all top-20 foreclosure rates in the first quarter among metropolitan areas with a population of at least 200,000, even while the majority of those top metros reported decreasing foreclosure activity from the first quarter of 2009, according to  RealtyTrac's Q1 2010 Metropolitan Foreclosure Market Report. The report shows that California accounted for 10 out of the top 20 metro foreclosure rates, followed by Florida with seven, Nevada with two and Arizona with one.

Foreclosure activity declined on a year-over-year basis in 14 of the cities in the top 20 and in eight of the cities in the top 10. In contrast, foreclosure activity in the first quarter increased on an annual basis in 159 of the 206 metro areas tracked in the report, and foreclosure activity nationwide increased 16 percent from the first quarter of 2009.

Tuesday, March 9, 2010
1:32 PM
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Only 10% of realtors think HAMP is reducing foreclosures

In an effort to develop a clear view of the real estate market, Homes & Land, a Tallahassee, Fla.-based provider of real estate media and marketing, recently asked thousands of real estate agents for their opinions about their local real estate market and published the results in its Market Pulse Survey Report.  When asked if the Home Affordable Modification Program "has reduced the rate of foreclosures in your market," only 10 percent of respondents said yes. Of those remaining, 65 percent responded no, and 25 percent were unsure.  Despite the low enthusiasm about HAMP, overall optimism seems to be improving, with most agents reporting an increase in homebuyer interest. Regional responses in states with the highest foreclosure rates showed even higher buyer interest-Arizona, at 71 percent; California, at 64 percent; and Florida, at 67 percent-than the national average of 58 percent.  However, Home & Land said the increase appears to be coming in the form of distressed sales. Only 14 percent of agents reported that the majority of their sales over the last 12 months came from distressed sales, but reports of distressed sales were much higher in Arizona, at 38 percent; California, at 35 percent; and Florida, at 26 percent.  The survey also found that 41 percent of respondents believe real estate prices in their market have bottomed out.

Source: REAL Trends Email update # 1184