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Metro Markets (May 2009 - May 2010)



Las Vegas reported negative yearly price change (-1.3%). The Las Vegas, Nev. Quarterly REO saturation rate remained high (45.9%), despite a slight 1.5 percentage point improvement from last month's report. However, recent improved price movements in Las Vegas have been sufficient enough to improve yearly losses from -7.2 percent in last month's report to its current -1.3 percent mark.

Gotta Move?  Upside Down?  Your Property May Qualify For A Short Sa...
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RealtyTrac® today released its U.S. Foreclosure Market Report™ for April 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 333,837 properties in April, a 9 percent decrease from the previous month and a 2 percent decrease from April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

“There were two important milestones in the April numbers that show foreclosure acti...

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The risk of continued price declines shrunk in most metropolitan areas studied by the PMI Mortgage Insurance Co. — the principal operating subsidiary of The PMI Group.

The report finds that 93%, or 356, of 384 metropolitan statistical areas (MSAs) showed declining risk scores in Q409 compared with the previous quarter, while only one rose and the rest remained unchanged.

“This is a significant change in the outlook for lower house prices, as the past couple of quarters showed a m...

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They are rolling the dice in Las Vegas these days -- on the casino craps tables but also on foreclosure charts, betting how many more homes will go under.

A first-quarter analysis of the housing market released today by Irvine, CA-based RealtyTrac shows Las Vegas continues to post the nation's highest metro foreclosure rate with one in 28 housing units receiving a foreclosure filing (3.51 percent) -- 4.9 times the national average.

A total of 28,480 Las Vegas housing units received a fo...
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The US Treasury Department, as it continues to revamp the Home Affordable Modification Program (HAMP), announced an initiative to encourage principal write-downs.

The principal reduction plan is one of the changes to HAMP, to be implemented in coming months.

The changes will encourage servicers to write-down a portion of mortgage debt as part of a HAMP modification, allow more borrowers to qualify for modification and help borrowers move into more affordable housing when modification is ...

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More than 170,000 troubled homeowners are breathing a lasting sigh of relief now that they've received permanent modifications under the Obama administration's foreclosure prevention program.

Some 15.5% of those who entered the program have gotten long-term adjustments through February, up from 11.5% a month earlier, according to a report from Treasury officials issued Friday.

When you do not qualify for a loan modification, your property may qualify for a Short Sale!

Benefits of a Short Sale -...
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Morning Coffee...The Finest Grounds

US foreclosure filings in February remained 6% above the level in 2009, despite dropping 2% from January, according to Realty Trac.

More than 308,000 homes – or one in every 418 – received a foreclosure filing in February, which includes default notices, scheduled auctions and bank repossessions.

James Saccacio, CEO of RealtyTrac, said the 6% increase from last year was the smallest since January 2006, but it was the 50th consecutive month of yearly incre...
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