CoreLogic® Reports Almost 65,000 Completed Foreclosures Nationally in February - 03/29/12 08:39 AM
CoreLogic® Reports Almost 65,000 Completed Foreclosures Nationally in February: Lower Foreclosure Rates than a Year Ago For Sixty-One of the Top 100 CBSAs
Source: PRNewswire
SANTA ANA, Calif., March 29, 2012 /PRNewswire/ — CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its National Foreclosure Report for February, which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates. There were approximately 65,000 completed foreclosures in February 2012, compared to 66,000 in February 2011, and 71,000 in January 2012. The number of completed foreclosures for the 12 months ending in February was 862,000. From the start of the … (0 comments)

UPDATE: 3-Signs of recovery grow in U.S. housing market - 03/27/12 11:15 AM

* New home sales fall 1.6 percent in Feb to four-month low* Median price surges 8.3 percent to eight-month high* Prices up 6.2 percent from year-ago
By Lucia MutikaniSource: Reuters
The battered U.S. housing market looks to be on the mend as buyers make a tentative return and house prices stabilize.
Sales of new homes in February fell from January but jumped more than 11 percent compared with the same month last year and prices rose, according to data released on Friday that was in line with other recent signs of a slow recovery.
Big challenges lie ahead, most notably in … (0 comments)

Georgia’s share of foreclosure settlement estimated at $815M - 03/26/12 01:33 PM

Source: Atlanta Business Chronicle
By Randy Southerland
Some of Georgia’s hard-hit homeowners will soon be getting some relief in the form of a landmark $26 billion federal-state settlement with the nation’s five largest mortgage servicers over alleged fraudulent mortgage servicing practices related to foreclosures.
The state’s share of the settlement is almost $815 million, reflecting the near collapse of the real estate market.
“We’re hopeful it will help continue to stabilize the housing market here,” said David Oliver, vice president with the Georgia Bankers Association. “The market in Georgia has continued to search for a bottom for some time now and this [settlement] … (0 comments)

Confidence without guts - 03/22/12 06:20 AM

More brilliant advice from Seth… We all need more GUTS! Too many MBAs are sent into the world with bravado and enthusiasm and confidence.
The problem is that they also lack guts.
Guts is the willingness to lose. To be proven wrong, or to fail.
No one taught them guts in school. So much money at stake, so much focus on the numbers and on moving up the ladder, it never occurs to anyone to talk about the value of failure, of smart risk, of taking a leap when there are no guarantees.
It's easy to be confident when you have … (0 comments)

Insight: The Wall Street gold rush in foreclosed homes - 03/21/12 06:29 AM

By Matthew Goldstein and Jennifer Ablan
(Reuters) - Dan Magder recently gave up a top job with private equity firm Lone Star Funds to strike out on his own and become a landlord. He's joining a growing list of big and small investors who see fat profits to be made in renting out foreclosed homes, especially now the U.S. government is moving ahead with a trial project to sell big pools of single-family homes that Fannie Mae currently owns in some of the hardest-hit housing markets.
Investors seeking higher yields are drawn to foreclosures because the rental market is red hot. But the … (0 comments)

Warren Buffett on CNBC: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could - 03/20/12 07:01 AM
By: Alex CrippenSource: CNBC
Warren Buffett says along with equities, single-family homes are a very attractive investment right now.
Appearing live on CNBC's Squawk Box, Buffett tells Becky Quick  he'd buy up "a couple hundred thousand" single family homes if it were practical to do so.
If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks.  He advises buyers to take out a 30-year mortgage and refinance if rates go down. (Visit this link for full video.)
Buffett revealed that he put 175 million euros into each of eight European stocks on behalf of Berkshire Hathaway at … (0 comments)

Report: foreclosure backlog beginning to ease - 03/19/12 07:58 AM

Source: AGBeat
The foreclosure log jam is loosening in some parts of the nation, depending on the foreclosure process in each state. Judicial states are seeing longer foreclosure processing times while non-judicial states are shrinking delays.
Foreclosure scene shifting The number of Americans that received a delinquency notice in February rose from January by 1.0 percent, down 7.0 percent over the year, according to a new Realty Trac report. The backlog of homes in foreclosure that has plagued data reporting looks to be easing after months of processing issues.
Fully 58,886 homeowners received default notices for the first time in February. … (0 comments)

Renters should consider buying now! - 03/16/12 07:41 AM
Why renters should consider buying now?! Rents averaged 14.9 percent more than home-loan payments during the last three months of 2011 Renters were more costly than owning for the 5th cosecutive quarter U.S households with home loans are benefiting from the biggest cost savings relative to rents in at least two decades, based on an analysis by Deutsche Bank AG and reported by Bloomberg. This chart depicts the difference between after-tax mortgage payments and rents as a percentage of disposable income, according to data that Deutsche Bank complied from the National Association of Realtors and REIS Inc. information service. The chart … (0 comments)

ABR Market Brief: February 2012 - 03/14/12 11:09 AM
How do you read these statistics?  Let us know your thoughts and we will share ours tomorrow. Single family residential sales in Metro Atlanta totaled 2,680 in February 2012.
This is an increase of 15% compared to the 2,487 total sales for the month of February 2011 and a 6.9% increase in sales compared to 2,676 in January 2012. The Median sales price for February 2012 was $110,000.
This is an annual decrease of 9.1% from the median sales price of $121,000 in February 2011. While Median prices continue to decline from 2011 levels, they reversed the trend slightly in February … (0 comments)

The latest in bulk buying? Houses - 03/07/12 07:39 AM

 
By Michelle ConlinSource: Reuters.com
(Reuters) - When Vena Jones-Cox entered the foyer of the once-grand Colonial-style home in downtown Columbus, Ohio, she stepped onto a wood floor that was so moldy and mushy that it actually wiggled. As Cox proceeded down the basement stairs, they disappeared from underneath her.
"I found myself lying on the floor," says Jones-Cox, 45. "Staring at a dead rat, by the way."
The house tour from hell didn't stop her from making an offer on the place. While she was at it, she bid on some other houses, too. Forty nine houses, actually.
She's paying … (0 comments)

REO to Rental: Fannie Mae Dips Further Into Foreclosure Pool - 03/06/12 07:29 AM

 
By Stefanos Chen
Source: AOL Real Estate
Fannie Mae waded further into the foreclosure pool on Monday as it released new details on its plan to sell its repossessed homes as rental properties.
The pilot program, first announced in August as an effort to clear the mortgage giant's backlog of foreclosures,is launching with an initial offering of 2,490 residential properties in some of the hardest-hit markets. The largest percentage of homes (23 percent) is located in Atlanta, with Los Angeles/Riverside and WestFlorida rounding out the top three. (View a breakdown of the properties below.)
Buyers can include corporations, investment trusts and even individuals, so long as they meet eligibility … (0 comments)

Are You a Default Risk? - 03/05/12 12:47 PM

 
By KAREN BLUMENTHAL
Source: The Wall Street Journal
Being underwater on your home is bad enough. But owning a home that is worth less than what you owe on your mortgage also may mean that your lender is keeping a wary eye on you.
Roughly one in five foreclosures is believed to be "strategic"—that is, the homeowner has the ability to pay the mortgage but walks away anyway—rather than as a result of economic hardship. The threat of additional strategic defaults has spread as home prices continue to fall.
Average U.S. home prices slipped again in November, back to about … (0 comments)

In a depressed housing market, renters abound - 03/05/12 06:37 AM

By Motoko Rich, New York Times News Service
Source: The Boston Globe
The housing market remains a potent drag on the economy as home prices continue to slip, foreclosed homes fill some neighborhoods, and millions of construction workers scramble for jobs.
But one group is sitting pretty: landlords.
Unlike home prices, rents have been rising, up 2.4 percent in January from a year earlier, according to recent data, not adjusted for inflation, released by the Labor Department.
With few rental buildings erected over the past few years, available units are going fast. Nationwide, the apartment vacancy rate is down to 5.2 … (0 comments)

Good school districts lead metro area in sales - 03/01/12 08:28 AM

By: Joe Rauch
Source: Atlanta Business Chronicle
For the hottest neighborhoods when it comes to Atlanta real estate, look no further than the places with the best schools.
Real estate agents, builders and industry analysts said homes in the highest demand in 2011 were in the metro area’s best school districts.
Parents are looking to take advantage of depressed prices to move into better school districts before the excess supply of homes in these areas dries up.
“It used to be call white flight, but now I’d call it educational flight,” said Dan Forsman, CEO of Prudential Georgia Realty. “[Parents] want to put … (0 comments)

 
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Jude Rasmus

Atlanta, GA

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Rasmus Real Estate Group

Address: 1296 Gresham Road, Marietta, GA, 30062

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