Foreclosure Listings

released today. Prices in those metro areas were down 19.5 percent from their peak in July 2006.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” said David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, in a press release issued to announce the numbers. “Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.”

Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 percent decline and Los Angeles with a 26.2 percent decline. Charlotte, N.C., home prices were down 1.8 percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 percent annual decline.

Does this make it a good time to buy real estate? June Fletcher of The Wall Street Journal sagely advises that the answer is “For some people, yes. If you …

• have access to credit
• have fat cash reserves
• aren’t already over-exposed in real estate
• have a secure job or income stream
• expect to hold the property for at least two years”

But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists.

“I think this time residential housing is in the 100-year flood, and I think it’s going to take a long time to recover,” said David Shulman, senior economist at the UCLA Anderson Forecast, at the Zelman & Associates Housing Summit in Dallas on Sept. 17.

Shulman said he expects home prices nationwide to go down 25 percent from peak to trough, although he acknowledged that prices could “overshoot to the downside.” And while modest appreciation could resume in late 2009, prices won’t be back to their 2006 peak until at least 2016, possibly as late as 2020 in some markets, according to Shulman.

(More from Shulman and several other leading economists in the October issue of the Foreclosure News Report, scheduled to be available in mid October.)

We’d like to hear from you when and if you plan to step in and start buying. Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices?

foreclosure

Critics are worrying that the new loan modification plan initiated by the Federal Housing Administration and major financial institutions may not be sufficient to help a big number of homeowners in danger of losing their homes to foreclosures. They have pointed out several cases of borrowers in trouble who are … foreclosure

Just as the end of the housing crisis is far from sight, a new crisis begins. Commercial establishments are now beginning to enter the foreclosure situation. Malls in Georgia and Michigan are among the first to experience these foreclosures. Next in line are hotels in California and Arizona. Analysts say that … foreclosure

released today. Prices in those metro areas were down 19.5 percent from their peak in July 2006.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” said David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, in a press release issued to announce the numbers. “Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.”

Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 percent decline and Los Angeles with a 26.2 percent decline. Charlotte, N.C., home prices were down 1.8 percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 percent annual decline.

Does this make it a good time to buy real estate? June Fletcher of The Wall Street Journal sagely advises that the answer is “For some people, yes. If you …

• have access to credit
• have fat cash reserves
• aren’t already over-exposed in real estate
• have a secure job or income stream
• expect to hold the property for at least two years”

But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists.

“I think this time residential housing is in the 100-year flood, and I think it’s going to take a long time to recover,” said David Shulman, senior economist at the UCLA Anderson Forecast, at the Zelman & Associates Housing Summit in Dallas on Sept. 17.

Shulman said he expects home prices nationwide to go down 25 percent from peak to trough, although he acknowledged that prices could “overshoot to the downside.” And while modest appreciation could resume in late 2009, prices won’t be back to their 2006 peak until at least 2016, possibly as late as 2020 in some markets, according to Shulman.

(More from Shulman and several other leading economists in the October issue of the Foreclosure News Report, scheduled to be available in mid October.)

We’d like to hear from you when and if you plan to step in and start buying. Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices?

Source: foreclosurepulse.com

Fed, World s Banks Pull Off Global Rate Reduction
In an unprecedented move aimed at quelling the mounting tidal wave of unrest affecting the world s economies and investors, the Federal Reserve, in partnership with other central banks around the world, pulled off a coordinated reduction of short-term interest rates Wednesday….(read more)
Source: foreclosurepulse.com

released today. Prices in those metro areas were down 19.5 percent from their peak in July 2006.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” said David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, in a press release issued to announce the numbers. “Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.”

Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 percent decline and Los Angeles with a 26.2 percent decline. Charlotte, N.C., home prices were down 1.8 percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 percent annual decline.

Does this make it a good time to buy real estate? June Fletcher of The Wall Street Journal sagely advises that the answer is “For some people, yes. If you …

• have access to credit
• have fat cash reserves
• aren’t already over-exposed in real estate
• have a secure job or income stream
• expect to hold the property for at least two years”

But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists.

“I think this time residential housing is in the 100-year flood, and I think it’s going to take a long time to recover,” said David Shulman, senior economist at the UCLA Anderson Forecast, at the Zelman & Associates Housing Summit in Dallas on Sept. 17.

Shulman said he expects home prices nationwide to go down 25 percent from peak to trough, although he acknowledged that prices could “overshoot to the downside.” And while modest appreciation could resume in late 2009, prices won’t be back to their 2006 peak until at least 2016, possibly as late as 2020 in some markets, according to Shulman.

(More from Shulman and several other leading economists in the October issue of the Foreclosure News Report, scheduled to be available in mid October.)

We’d like to hear from you when and if you plan to step in and start buying. Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices?

Source: foreclosurepulse.com

Fed, World s Banks Pull Off Global Rate Reduction
In an unprecedented move aimed at quelling the mounting tidal wave of unrest affecting the world s economies and investors, the Federal Reserve, in partnership with other central banks around the world, pulled off a coordinated reduction of short-term interest rates Wednesday….(read more)
Source: foreclosurepulse.com

Realtors Optimistic in CA for 2009 so long as
Speaking before a packed house at the California Association of Realtors Expo 2009 in Long Beach, Calif., Wednesday, chief economist Leslie Appleton-Young seemed a bit uneasy as she delivered her 2009 California Housing Market Forecast….(read more)
Source: foreclosurepulse.com

released today. Prices in those metro areas were down 19.5 percent from their peak in July 2006.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” said David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, in a press release issued to announce the numbers. “Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.”

Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 percent decline and Los Angeles with a 26.2 percent decline. Charlotte, N.C., home prices were down 1.8 percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 percent annual decline.

Does this make it a good time to buy real estate? June Fletcher of The Wall Street Journal sagely advises that the answer is “For some people, yes. If you …

• have access to credit
• have fat cash reserves
• aren’t already over-exposed in real estate
• have a secure job or income stream
• expect to hold the property for at least two years”

But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists.

“I think this time residential housing is in the 100-year flood, and I think it’s going to take a long time to recover,” said David Shulman, senior economist at the UCLA Anderson Forecast, at the Zelman & Associates Housing Summit in Dallas on Sept. 17.

Shulman said he expects home prices nationwide to go down 25 percent from peak to trough, although he acknowledged that prices could “overshoot to the downside.” And while modest appreciation could resume in late 2009, prices won’t be back to their 2006 peak until at least 2016, possibly as late as 2020 in some markets, according to Shulman.

(More from Shulman and several other leading economists in the October issue of the Foreclosure News Report, scheduled to be available in mid October.)

We’d like to hear from you when and if you plan to step in and start buying. Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices?

foreclosed homes

Just as the end of the housing crisis is far from sight, a new crisis begins. Commercial establishments are now beginning to enter the foreclosure situation. Malls in Georgia and Michigan are among the first to experience these foreclosures. Next in line are hotels in California and Arizona. Analysts say that … foreclosed homes

Are you from Indiana?

Then go to the web site of the Indiana Housing & Community Development Authority (IHCDA) and comment on IHCDA’s proposal concerning the use of the $84 million given by the federal government to Indiana to help solve foreclosure problems.

foreclosed homes

released today. Prices in those metro areas were down 19.5 percent from their peak in July 2006.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” said David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s, in a press release issued to announce the numbers. “Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.”

Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 percent decline and Los Angeles with a 26.2 percent decline. Charlotte, N.C., home prices were down 1.8 percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 percent annual decline.

Does this make it a good time to buy real estate? June Fletcher of The Wall Street Journal sagely advises that the answer is “For some people, yes. If you …

• have access to credit
• have fat cash reserves
• aren’t already over-exposed in real estate
• have a secure job or income stream
• expect to hold the property for at least two years”

But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists.

“I think this time residential housing is in the 100-year flood, and I think it’s going to take a long time to recover,” said David Shulman, senior economist at the UCLA Anderson Forecast, at the Zelman & Associates Housing Summit in Dallas on Sept. 17.

Shulman said he expects home prices nationwide to go down 25 percent from peak to trough, although he acknowledged that prices could “overshoot to the downside.” And while modest appreciation could resume in late 2009, prices won’t be back to their 2006 peak until at least 2016, possibly as late as 2020 in some markets, according to Shulman.

(More from Shulman and several other leading economists in the October issue of the Foreclosure News Report, scheduled to be available in mid October.)

We’d like to hear from you when and if you plan to step in and start buying. Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices?

Source: foreclosurepulse.com

No Quick Fix for Calif. Housing, Economists Predict

Three prominent California economists painted a rocky road ahead for the California housing market. Speaking at the California Association of Realtors convention in Long Beach, Calif., Nancy Dayton Sidhu, Stuart Gabriel and Richard K. Green said the nation and California are in a recession that could last until the end of 2009.

We have a very severe credit crunch going on, said Sidhu, vice president and senior economist at the Kyser Center for Economic Research. About 85 percent of banks have tightened their lending standards. This is an issue. That s where the problems are in the economy.

Sidhu forecasted that the recession would last through 2009, followed by a moderate recovery thereafter and economic expansion by 2010 or 2011.

Gabriel, a professor of finance and director of the Richard S. Ziman Center for Real Estate at UCLA, predicted that we re not going to have a Great Depression, but we are going to have a recession. The labor market will contract, causing consumer spending to contract.

Gabriel predicted that California will be the first to emerge from the economic downturn. California will see the up turn in housing before any other state, Gabriel said.

The federal government s rescue efforts could ease the financial markets, making it easier for borrowers to find loans, according to Richard K. Green, director of the Lusk Center for Real Estate Development at the University of Southern California.

Banks don t trust each other right now, said Green. They just don t know what s on their balance sheets. But I m still very bullish on California. I m far more optimistic this week than last week.

Will the housing sector lead the nation and California out of the recession? What are your thoughts?

Source: foreclosurepulse.com