Bay area latest market trends – as reported by DataQuick Information Systems – are as follows: Median price of homes sold fell below the $500,000 mark for the first time in the last 4 years to $485,000 in June 2010 – down by 6.2 percent from $517,000 reported in May this year. The total sales [...]
One of the consequential damages caused by the foreclosure crisis and housing bubble is depleted market value of properties, resulting in loss of revenue to county administration, through reduced Property Tax collection. There seems to be no escaping, to manage the loss other than by slashing budgets towards welfare expenses – especially education of the [...]
Fluctuations in the rate of unemployment causes a flutter in the number of delinquencies in a region – experts say. That follows any reduction in unemployment rate is a welcome news to the real estate sector and ultimately to foreclosure reduction. Santa Clara County, it is reported, posted its lowest unemployment rate during May, but [...]
As we know, Default Notices are the first bell of alarm sounded by the lenders to their borrowers, staying behind mortgage repayments. The foreclosure laws of all States stipulate that a legal notice, appropriately worded and giving full details is to be first sent to the home loan borrower in case the monthly repayment commitment [...]
The incentive for home buyers – first time buyers and repeat buyers – by way of tax credit has expired on 30th April. The federal government tried hard by the foreclosure mitigation programs one by one, to help the housing market recover. The success or failure of these programs has been a point for debate, [...]
The recent survey conducted by Trulia.com and Realtytrac among home buyers and renters to assess the sentiments in their minds, about home buying from the foreclosure pool, revealed that with the changed timings, there is slightly less enthusiasm – coming down from 55 percent in 2009 to 45 percent currently. Despite this, the selling and [...]
Requesting for a break in Property Tax payment is another way of delaying the inevitable, resorted to by the troubled home owners in the foreclosure environment. Property Tax is levied on the assessed value of the concerned property. Arising out of the down-turn economy and consequent housing bubble, home owners in San Francisco and elsewhere [...]
Bargain priced foreclosure homes are being snapped up from lending banks, who consider them non-performing assets, to be disposed off quickly. This trend is reported from various housing markets and market watchers are of the opinion that signs of rebound on home sales are appearing. Realtytrac and Trulia conducted a latest Survey in May 2010, [...]
