Real Estate Headlines - 12 - Worthy of Attention...

Zillow's Forecast for the Case-Shiller Index: Up 1.7%

source: linkedin.com

Zillow's Chief economist, Dr. Stan Humphries, forecasts the Case-Shiller index one week before it's issued. Will he be right? The forecast is for the seasonally adjusted and non-seasonally adjusted numbers to be up 1.7% year-over-year for the 20-city composite number.

62% of Major U.S. market show a drop in foreclosures

source: money.cnn.com

Almost two-thirds of the nation's largest market, 212 of them, showed foreclosure activity dropped in the third quarter. The decline in foreclosure activity has been slow and steady as yet another sign of stability on the way in the housing market.

More than half of the markets showed a decrease below the September 2007 levels. According to RealtyTrac's VP Daren Blomquist, "most of the nation's housing markets are past the worst of the foreclosure problem."

Housing Market Delivers Positive Impact to Economy

source: blogs.wsj.com

Friday's report on U.S. economic growth adds credence for two emerging trends regarding the housing sector: 1) direct contribution to growth from home construction and home improvement business, and 2) support addition consumer spending as homeowner feel their "wealth" return and also enables further tapping into home equity for spending.

Bank of America gets Clobbered with a Lawsuit for Alleged Countrywide Past Lending Practices

source: mortgagenewsdaily.com

The $1 billion lawsuit was filed in Federal Court October 24. It alleges fraud in the sale of loans to Fannie Mae and Freddie Mac largely during the 2007 through 2009 period.