Category: Central Florida short sale information
June 24, 2014 - No Comments
IRVINE, Calif. – June 24, 2014 – In RealtyTrac's May 2014 Residential & Foreclosure Sales Report, U.S. residential properties – single family homes, condominiums and townhomes – sold at roughly the same rate as they did one month earlier and less than 1 percent higher year-to-year. However, total sales include a lot more "normal" sales than in recent months, causing, in part, a median sales price ($180,000) rise of 6 percent month-to-month and 13 percent year-to-year. May's year-over-year increase was the second consecutive month with a double-digit annual increase in U.S. home prices, and the biggest annual increase since U.S. home prices bottomed out in March 2012.
June 7, 2014 - No Comments
NEW YORK – June 6, 2014 – Seven in 10 Americans say they believe the nation is still in the middle of the housing crisis or are concerned that the worst is yet to come, according to the MacArthur Foundation's How Housing Matters Survey of more than 1,300 Americans. However, the public is slightly more optimistic than last year, when 77 percent said they feared the same thing. About a quarter of Americans surveyed say they think the housing crisis is "pretty much over."
June 1, 2014 - No Comments
FORT LAUDERDALE, Fla. – May 30, 2014 – Question: We have been trying to get our lender to approve a short sale for several months. The bank just e-mailed a short sale approval letter that was already expired. When we called the bank, we were told that we have to start over from scratch. I thought short sales were getting easier. What happened? – Norman Answer: Sadly, your story is typical. Although you rarely hear about the foreclosure crisis in the news anymore, it's still going on, with many hundreds of thousands of homeowners in distress. It did seem that short sales were becoming less of a hassle after the $25 billion national mortgage settlement was announced in 2012. But it has been my experience that borrowers still are struggling to get the necessary approvals. In some cases, borrowers fail to provide the proper paperwork in a timely manner; in others, the bank negotiators don't have the proper training.
May 29, 2014 - No Comments
IRVINE, Calif. – May 29, 2014 – RealtyTrac's April 2014 Residential & Foreclosure Sales Report finds that U.S. residential properties – single family homes, condominiums and townhomes – sold at an estimated annual pace of 5,213,793 in April, a decrease of less than 1 percent from March but an increase of 4 percent from April 2013. The median sales price of U.S. residential properties – including both distressed and non-distressed sales – was $172,000 in April, an increase of 4 percent from the previous month and an increase of 11 percent from April 2013 – the biggest year-over-year increase since U.S. median prices bottomed out in March 2012. "April home sales numbers are exhibiting the continued effects of low supply and still-strong demand that exist in many markets," says Daren Blomquist, vice president at RealtyTrac. "Annualized sales volume nationwide decreased on a monthly basis for the sixth consecutive month and the 4 percent annual increase in April was the lowest year-over-year increase so far this year."
May 28, 2014 - No Comments
WASHINGTON – May 28, 2014 – One reason for the sluggish housing recovery: homeowners can't sell their homes because they don't have enough equity to do so yet, The Wall Street Journal reports. Nearly 10 million U.S. households – about 18 percent of homeowners with a mortgage – are still underwater, meaning their home is worth less than their mortgage. Home prices are rising, and the number of underwater homeowners is declining, but some still feel stuck. "Most move-up homeowners typically use their home equity to cover broker fees, closing costs, and a down-payment for their next home," The Wall Street Journal reports. "Without those funds, many homeowners can't sell."
May 21, 2014 - No Comments
WASHINGTON (AP) – May 21, 2014 – Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts – an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession. During the first three months of this year, 18.8 percent of homeowners with a mortgage – 9.7 million – owed more on their loans than their properties would sell for, according to online real estate database Zillow. Though that was an improvement from the 25.4 percent figure of a year ago, the share of such "underwater" homeowners is about four times the historic average. An additional 18.1 percent of mortgage holders were "effectively" underwater: They had equity, but the proceeds from selling their home would be too low to recoup the sales costs and also put a down payment on a new property.
May 14, 2014 - No Comments
First-mortgage eligibility requirements • Legal Florida and U.S. resident who lives in the home • Current on the monthly mortgage payment or 60-plus days late on a first mortgage within the past 24 months • Property purchased prior to Jan. 1, 2010 • Unpaid principal balance up to $350,000 • Loan-to-value ratio greater than 125% • Total household income less than 140% of the area median income (AMI) as provided by HUD.
April 18, 2014 - No Comments
Orlando ranked No. 1 in foreclosure activity in March, according to real estate research firm RealtyTrac. Orlando’s ranking was based on a rate of one foreclosure action for every 326 houses — a 13 percent increase in filings compared to February’s activity.
April 17, 2014 - No Comments
RealtyTrac released its U.S. Home Equity & Underwater Report for the first quarter of 2014, and it finds that 9.1 million U.S. residential properties were "seriously underwater," where the combined loan amount secured by the property is at least 25 percent higher than the property's estimated market value. The number represents 17 percent of all properties with a mortgage in the first quarter.
March 30, 2014 - No Comments
IRVINE, Calif. – March 27, 2014 – RealtyTrac released its February 2014 Residential & Foreclosure Sales Report. It finds that U.S. residential properties, including single-family homes, condominiums and townhomes, sold at an estimated annual pace of 5,083,241 in February – a 0.2 percent decrease from January, but up 7 percent year-to-year. February marked the fourth consecutive month where foreclosure sales activity decreased month-to-month.
March 23, 2014 - No Comments
// Let us work together with you to find your Orlando area dream home starting today! Real estate Q&A: Is my home a short sale or a regular sale? FORT LAUDERDALE, Fla. – March 20, 2014 Question: Due to a hardship, we stopped making our mortgage payments. Because values have increased recently, we think the house is worth more than we owe. How ...