Ever since the end of 2010, there has been steadily rising demand in the phoenix housing market. There have even been cases of bidding wars in several high-demand neighborhoods in the metro area. This helps to reduce inventory in general, and foreclosure inventories in particular. All of which helps sustain, and even boost, home prices in the area.
As more homeowners realize their equity situation has dramatically improved over the last four years, they will be more likely to put their homes on the market. With the residential real estate sector outperforming a sluggish economy, more home builders will be looking to add new construction inventory to a depleted supply of housing stock.
· Flashback to fall 2008 and you’ll remember the free fall the U.S. economy experienced. At the heart of it was the collapse of the housing market. If you were house hunting before the crash, you.
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Kai Ryssdal: That which the housing market giveth with one hand. But we keep adding to the inventory with the continuing surge in foreclosures. That lingering hangover from the recession helps.
Ocwen shared appreciation program holds redefaults steady NY appellate court scrutinizes the MERS standing issue The state of gender equality in housing The House of Representatives on Friday passed the Equality Act, which would add LGBTQ protections. it will prevent discrimination against members of the LGBTQ community in housing, employment, · Fifth Circuit Court of Appeals Upholds MERS’ Authority to Assign Mortgages. In Ferguson v. Bank of New York Mellon, the Fifth Circuit ultimately held that MERS was a proper beneficiary of the subject deed of trust and, therefore, had the right to assign the deed of trust.National foreclosure inventory drops: LPS That’s the lowest national foreclosure rate in more than 15 years. At the current rate of decline, the U.S. foreclosure inventory rate is on pace to hit the pre-recession average (2000-2005) by the third quarter of this year. The monthly prepayment rate was 0.93%, down.Ocwen Financial Corporation has enacted a unique loan modification program designed to help underwater homeowners and investors without rewarding loan delinquency.. The (SAM) program reduces a delinquent borrower’s principal to 95 percent of the home’s current market value but requires the homeowner to later share 25 percent of the home’s appreciation.Freddie Mac: Mortgage rates once again drop to new yearly lows What Kind of House Can I Afford? Low US Mortgage Rates, Trade Up. – This year's plunge in mortgage rates is giving Americans an incentive to. Average loan size is growing as 30-year rate drops below 4%. One result of falling borrowing costs is that buyers are able to afford bigger mortgages.. week to 3.99%, the lowest since January 2018, Freddie Mac said Thursday.
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Baltimore plagued by zombie foreclosures.. unanimously last week will help put more foreclosed homes on the market. (Thinkstock). market to dispose of lingering foreclosure inventory over.
For the nation as a whole, the 1980s had a strong housing demand, as the baby boomers of the 1950s became the homebuyers of the 1980s. However, many forecasted that the 1990s would be different, as the decline in the birth rate during the 1960s and 1970s was reflected in the declining number of people reaching homeowner age.
"Lenders have been taking advantage of the strong seller’s market to dispose of lingering foreclosure inventory." Bottom Line In most housing markets, don’t wait for this additional competition to hit the market.
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As the depressed housing market continues to hinder the nation’s economic recovery, Sen. Merkley is proposing a six point plan to boost the housing market and stem the tide of foreclosures. Merkley’s plan would do the following: Bolster the market by providing a permanent tax credit to assist first-time homebuyers in making a downpayment;