short sales: Nearly Half of Home Purchases Are Distressed Properties - 03/23/10 01:15 PM
The share of home purchase transactions involving distressed properties surged to almost half in February, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.Last month distressed properties – those involving homes acquired as part of a foreclosure or pre-foreclosure sale – accounted for 48.1 percent of the home purchase transactions tracked by the survey.The February numbers were up significantly from the 37.3 percent level recorded as recently as November. It was also the highest distressed property market share seen since last July.Stepped up government efforts, including temporary foreclosure moratoriums and a push to qualify more financially … (0 comments)

short sales: Nearly Half of Home Purchases Are Distressed Properties - 03/23/10 01:15 PM
The share of home purchase transactions involving distressed properties surged to almost half in February, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.Last month distressed properties – those involving homes acquired as part of a foreclosure or pre-foreclosure sale – accounted for 48.1 percent of the home purchase transactions tracked by the survey.The February numbers were up significantly from the 37.3 percent level recorded as recently as November. It was also the highest distressed property market share seen since last July.Stepped up government efforts, including temporary foreclosure moratoriums and a push to qualify more financially … (0 comments)

short sales: Short Sales Popularity Increases - 02/23/10 04:19 AM
According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, short sales accounted for a substantial 15.9 percent of home purchase transactions in January. This was well above the share of other distressed property activity – with damaged REO accounting for 13.4 percent of activity and move-in ready REO making up 13.8 percent.The January figures represent a steady increase in short sale popularity. As recently as November of 2009, short sales accounted for 12.4 percent of the home purchase market, according to the Campbell report, behind move-in ready REO at 12.6 percent and nearly even with damaged … (1 comments)

short sales: Treasury foreclosure-prevention program helps 947,000 households - 02/18/10 04:59 AM
The U.S. Treasury said its foreclosure-prevention program has cut mortgage payments for about 947,000 households, at least temporarily.That was the number of households benefiting from easier loan terms at the end of January through the Obama administration's Home Affordable Modification Program, known as HAMP. The total was up about 11% from a month earlier. The administration estimates that 1.7 million households—about 3% of those with mortgages—are eligible for the program.HAMP, announced a year ago by President Barack Obama, gives lenders incentives to help struggling borrowers avoid foreclosure by shrinking their payments through a reduction in the interest rate to as low … (1 comments)

short sales: Paying Homeowners Not to Walk Away - Is this a Good Idea? - 02/15/10 02:08 AM
With tumbling property values leaving nearly a quarter of borrowers owing more on their mortgage than the home is worth, some may find it tempting to walk away even if they are financially able to keep makingpayments – either to get out from under the debt completely or to force the servicer’s hand for a modification. This idea of “strategic default” has become a universal concern within the industry, but one New Jersey company says it has a plan to counter such calculated flights of exodus.According to the Loan Value Group LLC (LVG), it’s time to pay current borrowers to stay … (0 comments)

short sales: Fewer Home Sellers Cut Asking Prices for Homes in January 2010 - 02/12/10 02:23 PM
Just over 40% of available homes for sale had reduced prices in January 2010, compared with 44% in December 2009, according to a monthly survey of home listings in 27 markets conducted by the national real estate brokerage ZipRealty.With fewer reduced price homes available in January, sellers were able to ask for their original list prices, rather than cut them to attract buyers.“Sellers are taking a realistic look at current market conditions before listing their homes,” said ZipRealty CEO Pat Lashinsky. “We have a lot fewer homes for sale right now than we did last year, and we are seeing more … (0 comments)

short sales: Citi's Foreclosure Alternative Allows Homeowners to Stay for Six Months - 02/12/10 02:54 AM
As one of the nation’s largest mortgage servicers, CitiMortgage is still contending with a deluge of foreclosures that just doesn’t seem to be abating, despitestepped up mitigation efforts and government relief programs. On Thursday, the company announced a new pilot initiative that will allow distressed CitiMortgage borrowers to avoid foreclosure and remain in their homes for six months if they agree to sign over their property deeds to the lender.In addition, Citi will provide relocation assistance to help borrowers transition to another residence at the end of the program. This expanded deed-in-lieu-of-foreclosure program is being piloted in Texas, Florida, Illinois, Michigan, … (0 comments)

 
Paul Roesch CDPE 618-233-1000, Real Estate Auctioneer CAI St Louis MO Auctions (Palatium Auction and Appraisal Service, Real Estate Auctions, Estate, Moving, Downsizing Auctions 618-233-1000 USPAP Appraisals) Rainmaker large

Paul Roesch CDPE 618-233-1000

Real Estate Auctioneer CAI St Louis MO Auctions

Webster Groves, MO

More about me…

Palatium Auction and Appraisal Service, Real Estate Auctions, Estate, Moving, Downsizing Auctions 618-233-1000 USPAP Appraisals

Address: Metropolitan St Louis MO and surrounding Illinois and Missouri Counties, 63124

Office: 618-233-1000

Mobile: (618) 407-8479

Email Me

I sell real estate assets fast and economically. I auction household, estate, real estate and downsizing auctions. Brokers and agents encouraged for referral of sellers and buyers. Paul Roesch cell: 618-407-8479


Listings

Links

Archives

RSS 2.0 Feed for this blog