The influence of the high number of distressed houses and foreclosed homes on residential prices in the U.S. was highly evident in the latest Standard & Poor/Case-Shiller Home Price Indices report, with majority of big-city markets in the U.S. showing declining prices in February 2011. Atlanta joined other cities in posting year-over-year and monthly price declines in February.
Distressed Homes, Foreclosed Commercial Properties Hinder Sellers
May 3rd, 2011Elevated levels of distressed residential properties, short sales and foreclosed commercial properties are preventing traditional sellers of both commercial and residential properties from finding space in the real estate market. This scenario can be seen in most states of the U.S., including Alabama. According to local realtors, now would be the worst time to sell a home or a commercial building.
Tax Lien Foreclosure Homes for Sale Pulled Down Housing Prices in March
May 2nd, 2011The high levels of bank foreclosed properties and tax lien foreclosure homes for sale in Washington State have resulted in further depression of housing prices in the region. In March 2011, various areas of the state posted declines in selling prices when compared with one year ago.
Foreclosure Short Sales and Sales of Regular Homes Down in Louisville
April 29th, 2011Housing sales, including foreclosure short sales and non-distressed dwellings, declined in Louisville, Kentucky in March 2011 compared with the same month a year ago. Sales for the whole first quarter of the year also decreased from year-ago levels, while average prices of houses also went down in the area compared with one year earlier.
Program Aims to Lessen Foreclosed Homes and Condos for Sale Numbers
April 28th, 2011A series of new initiatives aimed at cutting down the number of foreclosed homes and condos for sale in Illinois has been launched, with several counties already signed up while others are already in the preparation stage. According to officials, the mediation programs will help homeowners in the region avoid foreclosure.
Foreclosure Properties Depressed Values of Homes in Des Moines
April 27th, 2011The high level of foreclosure properties in Des Moines, Iowa has been partly blamed by housing market analysts for the historic decline in commercial and residential property values in the city and the whole Polk County. According to them, the drop in property values will also likely result in cutting down the tax revenue of the region.
Process of Foreclosure Questioned by Homeowners
April 26th, 2011The process of foreclosure called dual tracking is heavily criticized by homeowners, housing advocates and even by a number of regulators in the U.S. According to them, this process makes a lot of homeowners believe that they are safe from foreclosure while their lenders continue to pursue actions against their properties.
Foreclosure Assistance Offered to Homeowners in the Form of a Law
April 25th, 2011Homeowners in Arkansas will soon be getting a different kind of foreclosure assistance as a new law focuses on helping troubled borrowers keep their residential properties. The said regulation encourages mortgage modification negotiations and also provides homeowners with the necessary documents that they will need to fight foreclosure actions.
Real Estate Brokers Sold Fewer Homes in Baltimore in March
April 20th, 2011Real estate brokers in Baltimore, Maryland sold fewer houses during the month of March this year compared with the same period of 2010. Average selling rates of residential properties also declined in the region over the same period. Meanwhile, the time that a home for sale stays in the market before getting sold was also extended.
Louisiana Sheriff Auctions Offered More Foreclosures in 1Q
April 19th, 2011The number of foreclosed properties offered at sheriff auctions in Louisiana increased during the first quarter of the current year compared with one year ago. This is in contrast with most U.S. states, where majority posted huge decreases in foreclosure actions during the first three months of 2011.
