Home Ownership Rate on the Decline - 07/19/10 12:32 PM


Home Ownership Rate on the Decline
As the recession drags on it appears that the U.S. home ownership rate continues to slip. A drastic reduction in home values has created a situation where many homewoners owe more than the value of their home. Many people end up surrendering their homes even if they can afford to pay the mortgage. These Strategic Defaults have been a big topic in the media lately. With no sign of positive recovery in sight this trend will likely continue. Homeowners are strapped and unemployment is still high.
An estimated 6.2 million homeowners owe more than their home is worth. The official … (2 comments)

Colorado Short Sale Statistics - 07/12/10 11:16 PM
Colorado Short Sale Statistics

There were 4,843 foreclosure properties in Colorado for the month of May. This equates to 1 in every 444 housing units according to Realty Trac. Unemployment in Colorado was 8.0% in May.
The top five states for Foreclosure activity are:
                                                                            Unemployment (%)
California - 72,030                           1 in 185                    12.4
Florida - 50,685                               1 in 173                    11.7
Michigan - 20,322                            1 in 223                    13.6
Arizona - 16,097                              1 in 169                    9.6
Illinois - 15,061                               1 in 350                    10.8
Compared to the five bottom states for Foreclosure
Vermont - 19                                   1 in 16453                6.2
North … (1 comments)

Boulder County Home Sales for Week July 11 - 07/11/10 10:49 PM
Boulder County Home Sales for Week July 11

(Week July 4 to July 11)

 
Information provided by IRES
… (0 comments)

Distressed Housing Market and the Growing Role of Short Sales - 07/09/10 06:55 PM
Distressed Housing Market and the Grwoing Role of Short Sales

June 28, 2010 Freddie Mac CEO Ed Halderman issued a press release on the state of the distressed housing market and how short sales are increasingly an important part of the solution. Some quotes from the press release that stood out;
Approximately three million borrowers have lost their homes to foreclosure since the start of the recession and at least five million more are at risk of losing their home. Sometimes it's just not financially feasible for the borrower to remain in the home. This is more likely to happen … (1 comments)

 
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E. Christopher Lattimer

Louisville, CO

More about me…

Keller Williams Front Range Properties

Address: 3005 Center Green Dr., Ste 100, Boulder, CO, 80301

Office Phone: (303) 440-8080

Cell Phone: (720) 530-7291

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Residential and Commercial sales, Green Home


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