zillowcom: Delinquent Under Water Home Mortgages Declines
- 06/17/15 02:38 AM
While more than a quarter of a million homes regained equity during Q1, the percentage of residential properties with negative equity – commonly referred to as being “underwater” or “upside down,” meaning the borrower owes more on the mortgage than the home is worth –Delinquent Under Water Home Mortgages Declines -year-over-year by about 19.4 percent from 6.3 million homes in Q1 2014 down to 5.1 million homes in Q1 2015. The 5.1 million homes with negative equity in Q1 represent about 10.2 percent of all residential mortgages nationwide. “Many homeowners are emerging from the negative equity trap, which bodes well for a … (0 comments)
Banks Increase Foreclosure Auctions on Non Paying Homeowners Banks realize that because of this seller’s market, they can get top dollar, even for the scratch-and-dent properties that foreclosures represent,” said Daren Blomquist, vice president at RealtyTrac. “That gives them more motivation to push through even some of the tough foreclosure cases that had lingered in the process longer.” Meanwhile, more zombie foreclosures in certain states reflect an increase in foreclosures starts in areas where it takes a long time to move through the process. The growing number of zombie foreclosures in certain metro areas contrasts with the strengthening national housing market. Zombie foreclosures throughout … (0 comments)
zillowcom: Todays Foreclosure News California
- 06/12/15 08:35 AM
Los Angeles Foreclosed Homes Zombies still up from a year ago in half of U.S. metrosZombies still increased in 91 of the 183 metropolitan statistical areas analyzed in this report. Major markets where the number of zombies increased from a year ago included New York (up 38 percent), Los Angeles (up 39 percent), Houston (38 percent), Philadelphia (up 19 percent), and Boston (up 14 percent).“We are at the end of a long workout cycle and the distress inventory being processed by banks here are an aggregation of tough foreclosure transactions that have typically evolved with starts and stops to the process but in reality … (0 comments)
The increase in home ownership has been accompanied in many countries by record foreclosure rates, particularly during the recession. Just a couple of missed mortgage payments can start foreclosure proceedings, and before you know it the house you’ve worked so hard to buy can be taken away from you. Worse yet, you may still end up owing money if the sale of the home doesn’t cover your loan balance, and a foreclosure hits your credit like a freight train. If you’re threatened with foreclosure you may be able to prevent this scenario, but you’ve got to act fast. Make … (0 comments)
zillowcom: Bank Owned REO Foreclosure Homes Sold for 87 Percent of Market Value
- 05/21/15 12:20 AM
http://www.lasvegaswinner.org/home The average sale price of REOs sold in the first quarter was 87 percent of the average estimated market value of those same properties at the time of sale. In some markets REOs sold at a much higher price-to-value ratio, including San Diego, California (100 percent), Charlotte, North Carolina (100 percent), San Francisco, California (97 percent), Bakersfield, Carolina (97 percent) and Portland, Oregon (97 percent). “We’ve seen distressed inventory work its way through the auction and REO process at a varying pace depending on local market conditions and price points,” covering the Southern Californiamarket. “The uptick in April is a natural part of … (0 comments)
zillowcom: 5 Income Tax Write Offs That Makes Owning a Home Better Than Renting
- 05/13/15 11:32 PM
Using data collected from the Internal Revenue Service (IRS), we calculated that a homeowner owning a home, who took the average for each of four tax benefits would claim $15,871 in home-related deductions. Those factors are as follows:Homeowners are given access to several tax benefits that renters don’t even know Buy and Hold investments can offer a lot more than monthly rent checks. Critical tax deductions can make huge contributions to your bottom line ever year., do homeowners really save that much more on their taxes than renters? . Interest paid on the mortgage Points paid on the mortgage The total cost of all property … (0 comments)
zillowcom: What Neighborhood Grade Makes Good Real Estate Investment
- 05/12/15 07:56 AM
Low Income (“C” and “D” grade neighborhoods)Low income neighborhoods generally have a large portion of their residents on government assistance (for example Section 8 housing assistance). The ratio of renters to owner-occupied homes is greater than 50% and often as high as 80%.These neighborhoods are almost always the most affordable (lowest-priced) areas within a market and usually have some of the highest rent-to-value ratios. This provides some of the highest cap rates and cash-on-cash returns compared to other neighborhood types.You will find substantial area anchors including schools, churches and shopping in these neighborhoods. The anchors are there to meet the needs … (0 comments)
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