All Posts Tagged With: "2007"
Quarterly Foreclosures Down 33% From 2009
Foreclosure activity in the first quarter was down 33% when compared with a year ago but huge discounts remain with pre-foreclosure (14.77%), foreclosure (26.7%) and lender-owned properties (34.04%), according to RealtyTrac.
The RealtyTrac numbers — which are used by HUD as part of its monthly housing scorecard — show that savvy buyers are purchasing large [...]
HUD Dumps FHA 90-Day Anti-Flipping Rule
Starting February 1st, HUD is suspending the FHA’s 90-day anti-flipping rule for one year. This is a smart idea which should increase local home sales, help investors and create additional real estate demand (because more FHA financing will be available).
The New Rule
HUD says that under the new rule homes sold within the past 90 days [...]
Foreclosure Filings Near 4 Million In 2009, Worst Since Depression
With the worst results in recent history, year-end figures from RealtyTrac.com show that 3,957,643 foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 2,824,674 U.S. properties in 2009. The 2009 total is 21 percent higher than 2008, itself a record year.
The bloated foreclosure numbers are in large measure a [...]
No Predatory Lending In 2008?
The FBI is out with its latest annual mortgage fraud tally and the news is fairly grim: Despite a reduction in loan originations, fraud filings from financial institutions increased 36 percent to 63,713 in fiscal 2008 compared to 46,717 filings a year earlier.
This is an unhappy statistic, but it does not tell the whole story. [...]
Mega Homes Versus Real Estate Sanity
According to the National Association of Home Builders, a home built in 1950 usually had 700 to 1,200 square feet while in 2007, says the association, the typical new home averaged 2,479 square feet.
Bigger homes, of course, require more dollars to buy, finance, refinance, insure, heat, air condition, and carpet. The equation is bigger homes [...]
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