Monday, May 28, 2012

Many Home Owners still way underwater


Here is the complete list of metropolitan areas and their underwater mortgage rates from Zillow’s report:

  • Las Vegas: 71%
  • Phoenix: 55.5%
  • Atlanta: 55.2%
  • Orlando: 53.9%
  • Riverside, Calif.: 53.4%
  • Sacramento, Calif.: 51.2%
  • Detroit: 49.8%
  • Tampa, Fla.: 48.3%
  • Miami - Fort Lauderdale, Fla.: 46.4%
  • Chicago: 41.1%
  • Minneapolis - St. Paul, Minn.: 39.9%
  • Seattle: 39.6%
  • Charlotte, N.C.: 36.6%
  • San Diego: 35.6%
  • Portland: 34.3%
  • Columbus, Ohio: 34.2%
  • Cleveland: 33.9%
  • Virginia Beach, Fla.: 33.2%
  • Washington D.C.: 32.4%
  • Baltimore: 31.4%
  • Dallas - Fort Worth, Texas: 30.7%
  • San Francisco: 30.7%
  • St. Louis: 30.7%
  • Los Angeles: 30%
  • Denver: 29%
  • Philadelphia: 25%
  • San Jose, Calif.: 22.7%
  • Boston: 22%
  • New York: 21.3%
  • Pittsburgh: 16.7%
  • U.S. average: 31.4%
Read the whole article here

Thursday, May 17, 2012

Shadow Inventory: 46 Months to Clear Distressed Housing Supply

It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data.

Read the whole article here

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It is 4 years away to clear all of them. I think the end of bank foreclosure is near. The impact from bank distressed properties will lesson in 1 - 2 years.



Monday, May 14, 2012

LPS: Home Prices Increased, but We've Been Down This Road Before

For the first time since March 2010, data from Lender Processing Services (LPS) showed an increase in home prices. 

“Reasons for caution are clear, as we’ve been here before. Non-seasonally adjusted prices increased for a few months in early 2009, 2010 and 2011 – trends that all ended by summer, after which all the gains – and then some – were lost,” said Raj Dosaj, VP of LPS Applied Analytics.


Read the whole article here