Completed Foreclosures Rise in March, Foreclosure Inventory Falls

by davesingery May 1, 2013 Latest News

The number of residential properties lost to foreclosure increased from February to March, while foreclosure inventory was down from month and year ago levels, according to data from CoreLogic. In its most recent foreclosure report, the data provider reported 55,000 homes were lost to foreclosure in March, up 6 percent from 52,000 completed foreclosures in […]

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DeMarco Disappoints with New Streamlined Mod Program

by davesingery April 29, 2013 Latest News

Starting July 1, large numbers of non-paying borrowers will have the opportunity to modify existing mortgages through a more streamlined process. This sounds like a good way to reduce foreclosures and prop up home prices, but as we will shortly see, the proposed program is oddly risky and likely to encourage additional defaults. According to […]

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Is the Single-Family Rental Market Set for Decline?

by davesingery April 29, 2013 Latest News

Over the past couple years, rentals of single-family homes have served as a growing segment of the housing market. However, lately, limited supply and rising home prices are leading to rising rents, thus slowing growth in this market, according to a report from CoreLogic. In 2012, more than 1 million new renter households were created. […]

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Over 1M Foreclosure Review Checks Cashed; 3rd Round Sent

by davesingery April 29, 2013 Latest News

A third round of 927,000 foreclosure review checks was sent out Friday, the Office of the Comptroller of the Currency (OCC) announced. The most recent batch of checks is valued at $794 million. As of April 25, 1,150,328 recipients have cashed or deposited $1.1 billion in checks from the foreclosure settlement reached in January with […]

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Moody’s: Home Prices to Increase, Loss Severities to Remain High

by davesingery April 29, 2013 Latest News

Home prices will increase over the next three years as the economy expands and servicers work through their distressed inventories, according to a report from Moody’s Analytics. However, the firm predicts rising prices will not be enough to offset anticipated rising loss severities. Home prices will rise about 4.2 percent between the fourth quarter of […]

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Non-Investor Homebuyers also Driving Market Recovery, Survey Finds

by davesingery April 29, 2013 Latest News

Investors aren’t the only major players driving the housing recovery. According to results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for March, first-time homebuyers and current homeowners are also building a strong presence as they dominate the non-distressed market. When comparing activity among the buyer types for non-distressed properties, non-investors held a significant lead. […]

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Commentary: What’s Up (or Down) With Housing?

by davesingery April 29, 2013 Latest News

Housing is recovering…or is it? The recent numbers and headlines offered mixed signals: existing-home sales dropped month-to-month as the median price increased in March, according to a report released April 22, while another report showed new home sales fell as the median price increased. One week before those reports, the Housing Market Index, a measure […]

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What Does Half A Million Bucks Buy?

by davesingery April 29, 2013 Latest News

Orange County’s median home price has topped $500,000 for the first time in five years. So how much house can you get for half a million dollars? That sum – or darn close to it — paid for a 1916 Craftsman bungalow in Orange, an attached house with a garden and fountain in Irvine’s University […]

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How to START your Short Sale

by davesingery April 24, 2013 Latest News

In order to get a short sale started for you, I first “list your home” using the Standard California Association of Realtor Listing agreement, Short Sale Addendum and Authorization Form which allows me to speak to your lender on your behalf. Once we find a strong buyer for your home, I will need following documents […]

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What are the benefits of doing a short sale?

by davesingery April 24, 2013 Latest News

Most importantly, a short sale will allow many hardship short sale candidates to avoid foreclosure. For many strategic short sale candidates who are significantly “under water” on their mortgage, a short sale is simply the best choice to improve their long term financial health. In comparison to a foreclosure, a shore sale is a more […]

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