All Posts Tagged With: "2008"
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 [...]
2009 Metro Foreclosures Show Spreading Problems
The nation’s metro-area foreclosures continue to be concentrated in California, Florida, Nevada and Arizona — but homeowner losses are spreading to other cities as well. On the good side, a number of metro areas show declining foreclosure rates.
Figures for 2009 by RealtyTrac, the leading online marketplace for foreclosure properties, show that of the 20 metro [...]
2009 Home Sales Up, But Values Down
Real estate sales reached nearly 5.2 million in 2009, up 4.9 percent from 2008 according to the National Association of Realtors. The increase was the first annual rise since 2005.
In terms of prices, NAR says for all of 2009, the median price for a single-family existing home was $173,200, down 11.9 percent from 2008. This [...]
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 [...]
Mortgage Loan Limits — Conventional, FHA, VA
The mortgage loan limits and policies established in 2008 and 2009 will continue through 2010.
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans.
If you borrow at or below the conventional [...]
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
2009 Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
Worst on Record: 2.3 Million Homes Faced Foreclosure In 2008
It was no illusion — 2009 really was as bad as it seemed, the worse year on record for foreclosures since the Depression.
Year-end figures from RealtyTrac.com show that 3,157,806 foreclosure filings — default notices, auction sale notices and bank repossessions — were sent out. Because some properties get multiple notices, and because some owners “re-default,” [...]
How much can I borrow under the VA program for a single-family house?
The Department of Veterans Affairs (VA) will use a locality-based approach in raising ceilings on its no-downpayment home loans from the current $417,000 to as much as $729,000 until December 31, 2008.
The increases are effective immediately under legislation recently enacted under the Housing and Economic Recovery Act of 2008.
That law also improved VA’s Specially Adapted [...]
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