U.S. Foreclosure Increased As Bank Repossessions Rise

Originally posted on Universal Properties Network:

foreclosuresAccording to the U.S. Foreclosure Market Report released by RealtyTrac, bank repossessions rose again last month, driving overall U.S. foreclosure activity to a 19-month high on an annual basis.  The U.S. foreclosure rate in May was one in every 1,041 housing units with a foreclosure filing and a total of 126,868 homes across the country were at some point in the foreclosure process in May, up 1% from April and up 16% from the same time last year.

The increase in May was driven primarily by a jump in bank repossessions (REOs), which at 44,892 were down 1% from the previous month but up 58% from a year ago, and a 5% year-over-year increase in scheduled foreclosure auctions. The foreclosure activity includes foreclosure notices, scheduled auctions and bank repossessions.

Daren Blomquist, RealtyTrac Vice President said “May foreclosure numbers are a classic good news-bad news scenario, with the number of homeowners…

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Good News for ‘Typical’ Home Buyers

Originally posted on :

Investment Purchases

(Above is a map detailing the investment purchases in 2014 by region.)

In a speech delivered earlier this year, Secretary for HUD Julián Castro, called 2015 “A Year of Housing Opportunity”. A recent report by The National Association of Realtors (NAR) revealed that investment home sales decreased 7.4% in 2014 to an estimated 1.02 million.

What does this mean for the ‘typical’ homebuyer?

Lawrence Yun, NAR’s Chief Economist gave some insight:

“Despite strong rental demand in many markets, investment property sales have declined four consecutive years to their lowest share since 2010 as rising home prices and fewer distressed properties coming onto the market have further reduced the number of bargains available to turn into profitable rentals.”

This is great news for the housing market. If fewer properties are being sold to investors, they are instead being sold to American families who are entering the housing market in droves.

Details…

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Officials fear baby boomers banking on confusing mortgage plan

Originally posted on Real Time:

house moneyReverse mortgages are touted on T.V. by The Fonz and a former presidential candidate, but a report released today shows that seniors are increasingly frustrated with a product that can be confusing and end in a foreclosure.

The Consumer Financial Protection Bureau released a 15-page report detailing consumer complaints about reverse mortgages, which can be obtained by homeowners 62-years-old and older. It allows owners to access the equity they have built up in their homes and defer payment of the loan until they pass away, sell, or move out.

Read the bureau consumer advisory here.

But owners are still responsible for taxes and insurance payments on the home. If those payments aren’t made, the bank could repossess the house.

“Consumer complaints tell us that the complex terms of reverse mortgages continue to be misunderstood,” said Richard Cordray, director of the Consumer Financial Protection Bureau. “As more baby boomers choose…

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New Hope for Underwater Borrowers

Originally posted on The Most Revolutionary Act:

freddie mac

One for Our Side

Anti-eviction activists were thrilled with a November 25 ruling by the Federal Housing Finance Administration (FHFA), which seems to reverse the position taken by the Obama administration in federal court. Prior to the new ruling, homeowners foreclosed by Fannie Mae or Freddie Mac (the Enterprises)* found themselves in the painful position of watching their foreclosed homes being sold for much less than they paid for them.

Deadbeat Homeowners vs Deadbeat Banks

As the 2008 economic collapse caused over inflated real estate values to plummet, more than a fifth of all mortgage holders (7.5 million) discovered that – through no fault of their own – they owned more on their mortgage than their property was worth. By December 2013, the percentage of underwater (aka negative equity) mortgages had decreased to 13% (6.4 million)  By December 4, 2014, thanks to an October “rally” in home prices…

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Wall Street landlords: These four companies have spent billions on distressed homes in the US

Originally posted on Ray McMillan Mortgage Team:

housing foreclosure

Photo: Silva/Flickr

Wall Street landlords: These four companies have spent billions on distressed homes in the US
By: Monika Warzecha  January 2, 2015

At the end of third quarter of 2014, the Census Bureau reported that the US home ownership rate hit 64.4 percent, the lowest level for the country since the first quarter of 1995. While individuals might be standing on the sidelines of the housing market, investment firms, real estate trusts and Wall Street institutions have been scooping up distressed houses — those in the foreclosure process or bank-owned — in bulk and renting them out.

More recently, sales of these problem properties are trending downward. According to the latest numbers from RealtyTrac, a real estate information company, distressed home sale and short sales  – where the proceeds from selling the property will fall short of the home’s balance of debts – accounted for 12.6 percent of all residential property sales in November. That…

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Foreclosure Reports for February 14th, 2014 (Oregon)

 

 

 

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Download the complete Notice of Default list for Multnomah County and other counties inOregon or use the Multnomahforeclosures.com search engine to identify distressed properties.

 

 

Clackamas Feb 4th – Feb 11th 2014
Clackamas Feb 4th – Feb 11th 2014
Clackamas Feb 4th – Feb 11th 2014
Multnomah Feb 4th – Feb 11th 2014
Multnomah Feb 4th – Feb 11th 2014
Multnomah Feb 4th – Feb 11th2014
Washington Feb 1st – Feb 10th 2014
Washington Feb 1st – Feb 10th 2014
Washington Feb 1st – Feb 10th 2014
Yamhill Feb 4th – Feb 7th 2014
Yamhill Feb 4th – Feb 7th 2014
Yamhill Feb 4th – Feb 7th 2014

 

 

 

 

 

Multnomah Foreclosureshttp://multnomahforeclosures.com

Fred Stewart
Stewart Group Realty 
http://www.sgrealty.net
503-289-4970

Asking Prices and Inventory for Homes in Portland Oregon, by Deptofnumbers.com

Originally posted on Oregon Real Estate Round Table:

As of March 17 2014 there were about 7,821 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $299,000. Since this time last year, the inventory of homes for sale has decreased by 2.2% and the median price has increased by 10.8%.

March 17, 2014 Month/Month Year/Year
Median Asking Price $299,000 +3.3% +10.8%
Home Listings/Inventory 7,821 -0.7% -2.2%

Recent Asking Price and Inventory History for Portland

Date Single Family & Condo
Inventory
25th Percentile
Asking Price
Median
Asking Price
75th Percentile
Asking Price
03/17/2014 7,821 $215,000 $299,000 $465,000
03/10/2014 7,819 $214,900 $297,565 $460,000
03/03/2014 7,870 $214,900 $294,900 $450,000
02/24/2014 7,818 $214,500 $289,900 $450,000
02/17/2014 7,874 $213,000 $289,500 $449,900

Portland Asking Price History

The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $57,585 (16.2%) lower. From a low of $239,125 in February…

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Foreclosure Reports for February 6th, 2014

 

 

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Download the complete Notice of Default list for Multnomah County and other counties inOregon or use the Multnomahforeclosures.com search engine to identify distressed properties. 

Clackamas Jan 28th – Feb 3rd 2014
Clackamas Jan 28th -Feb 3rd 2014
Clackamas January 28th – Feb 3rd 2014
Linn 1-28-14 linn 1-28-14 Linn 1-28-14
Marion 1-28-14
Marion 1-28-14
Marion 1-28-14
Multnomah January 28th – Feb 3rd 2014
Multnomah Jan 28th – Feb 3rd 2014
Multnomah January 28th – Feb 3rd 2014
Polk 1-28-14 Polk 1-28-14
Polk 1-28-14
Washington Jan 28th – Jan 31st 2014
Washington Jan 28th – Jan 31st 2014
Washington January 28th – January 31st 2014
Yamhill January 28th – Feb 3rd 2014
Yamhill Jan 28th – Feb 3rd 2014
Yamhill January 28 – Feb 3rd 2014

Multnomah Foreclosures http://multnomahforeclosures.com

Fred Stewart
Stewart Group Realty 
http://www.sgrealty.net
503-289-4970

Foreclosure Reports for July 2nd, 2013

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Download the complete Notice of Default list for Multnomah County and other counties inOregon or use the Multnomahforeclosures.com search engine to identify distressed properties. 

Benton 7-01-13
Benton 7-01-13
Benton 7-01-13
Clatsop County Foreclosure List – June 01 – June 30 2013
Columbia County NOD List June 2013
Defaulted & Foreclosed Properties – LANE 07-03-2013
Defaulted Properties LANE-07-03-2013
Description of Foreclosure Data Foreclosed Properties -LANE-07-03-2013
Linn 7-01-13
Linn 7-01-13
Linn 7-01-13
Lis Pendens & Final Judgements – LANE 07-03-2013
Lis Pendens & Final Judgements – LANE 07-03-2013
Marion 7-01-13 Marion 7-01-13
Multnomah County June 28th – July 3rd 2013
Notice of Lis Pendens 7.1.2013-7.5.2013
Polk 7-01-13 Polk 7-01-13 Polk 7-01-13

Multnomah Foreclosures
http://multnomahforeclosures.com

Fred Stewart
Stewart Group Realty 
http://www.sgrealty.net
503-289-4970

Foreclosure Reports for June 19th, 2013

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Download the complete Notice of Default list for Multnomah County and other counties inOregon or use the Multnomahforeclosures.com search engine to identify distressed properties. 

 

 

 

Benton – 6-19-2013
Benton – 6-19-2013
Benton – 6-19-2013
Defaulted & Foreclosed Properties – LANE 06-19-2013
Defaulted Properties LANE-06-19-2013
Deschutes County Foreclosures – June 17, 2013
Description of Foreclosure Data Foreclosed Properties -LANE-06-19-2013
Linn – 6-19-2013
Linn – 6-19-2013
Linn – 6-19-2013 Lis Pendens & Final Judgements – LANE 06-19-2013
Lis Pendens & Final Judgements – LANE 06-19-2013
Marion – 6-19-2013
Marion – 6-19-2013
Marion – 6-19-2013
Polk – 6-19-2013
Polk – 6-19-2013
Polk – 6-19-2013
Washington County May 31st – June 12th 2013
Washington County May 31st – June 12th 2013
Washington County May 31st – June 12th 2013
Yamhill County June 4th – June 12th 2013
Yamhill County June 4th – June 12th 2013
Yamhill County June 4th – June 12th 2013

 

 

 

 

There was no Report for Multnomah County this week.

 

 

 

 

 

Multnomah Foreclosures
http://multnomahforeclosures.com

 

 

 

 

 

Fred Stewart
Stewart Group Realty 
http://www.sgrealty.net
503-289-4970