Sep 29, 2009 | No Comments | Sean Mills
I have attached the link to the standard and poors site which references all 2009 charts for Case-Shiller in both the original and seasonally adjusted forms. Good source of information, albeit historic, view of the residential housing market. -Sean
Standard and Poors
I have attached the link to the standard and poors site which references all 2009 charts for Case-Shiller in both the original and seasonally adjusted forms. Good source of information, albeit historic, view of the residential housing market. -Sean
buy online drugs target=”_blank”>Standard and Poors
Sep 29, 2009 | No Comments | Sean Mills
I have been saying this for months that the banks are holding high numbers of non-performing loans. The research confirms it, high NODs and postponed auction properties. -Sean
The ratio of first mortgages 90-days late in Orange County rose for the seventh straight month in July, hitting 6.7% of all loans outstanding. That’s the highest percentage [...]
I have been saying this for months that the banks are holding high numbers of non-performing loans. The research confirms it, high NODs and postponed auction properties. -Sean
The ratio of first mortgages 90-days late in Orange County rose for the seventh straight month in July, hitting 6.7% of all loans outstanding. That’s the highest percentage since at least January 2007, when it was a mere 0.7%, and is up slightly from 6.6% in June, reports First American CoreLogic.
The percentage of mortgages here with some type of foreclosure filing rose to 2.4% in July from 2.3% in June and 1.6% in July’08.
However, the ratio of bank-owned properties (REOs) held steady for the fourth month at 0.4%.
I am guessing banks are delaying foreclosures as they try loan workouts and see who qualifies for the Obama administration’s loan modification plan. Most folks 60-days late nationwide are not getting trial modifications under the plan, data have shown.
Loan mods outside the Obama buying prescription drugs online without a prescription plan have a re-default rate in the range of 50% to 60%.
Note: First American released July’s delinquency figures earlier this month, but I just received their revised historical data. So here’s an updated chart showing 90-day lates, loans with a foreclosure filing (FF) and REOs going back to January 2007:
The chart tells a similar story to the one I published Sunday on outstanding foreclosure auction notices hitting a record.
More from this blog…
FDIC may borrow from banks to avoid taxpayer support
Sep 29, 2009 | No Comments | Sean Mills
S&P/Case-Shiller released their monthly Home Price Indices for July this morning.
This monthly data includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities). This is the Seasonally Adjusted data – others report the NSA data.
Click on graph for larger image in new window.
The first graph shows the nominal seasonally [...]
S&P/Case-Shiller released their monthly Home Price Indices for July this morning.
This monthly data includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities). This is the Seasonally Adjusted data – others report the NSA data.
Click on graph for larger image in new window.
The first graph shows the nominal seasonally adjusted Composite 10 and Composite 20 indices (the Composite 20 was started in January 2000).
The Composite 10 index is off 31.6% from the peak, and up about 1.3% in July.
The Composite 20 index is off 30.6% from the peak, and up 1.2% in July.
The second graph shows the Year over year change in both indices.
The Composite 10 is off 12.8% from July 2008.
The Composite 20 is off 11.5% from last year.
This is still a very strong YoY decline.
The third graph shows the price declines from the peak for each city included in S&P/Case-Shiller indices.
cheap Levitra alt=”Case-Shiller Price Declines” /> Prices increased (SA) in 17 of the 20 Case-Shiller cities in July.
In Las Vegas, house prices have declined 55.2% from the peak. At the other end of the spectrum, prices in Dallas are only off about 4.9% from the peak – and up in 2009. Prices have declined by double digits almost everywhere.
The debate continues – is the price increase because of the seasonal mix (distressed sales vs. non-distressed sales), the impact of the first-time home buyer frenzy on prices, and the slowdown in the foreclosure process (with a huge shadow inventory), or have prices actually bottomed? I think we will see further house price declines in many areas.
I’ll compare house prices to the stress test scenarios soon.
Source Article
Sep 29, 2009 | No Comments | Sean Mills
From the Mortgage Insider, Matt Padilla
First the good news: all three types of foreclosure filings dropped in August in Orange County compared to July and compared to a year ago.
Banks seized 771 houses and condos, filed 1,982 auction notices (notice of trustee’s sale, or NTS), and filed 2,202 notices of default, reports ForeclosureRadar.com. Here’s a [...]
From the Mortgage Insider, Matt Padilla
First the good news: all three types of foreclosure filings dropped in August in Orange County compared to July and compared to a year ago.
Banks seized 771 houses and condos, filed 1,982 auction notices (notice of trustee’s sale, or NTS), and filed 2,202 notices of default, reports ForeclosureRadar.com. Here’s a chart of the filings going back to July 2007.
click to enlarge
However, there is a growing number of potential foreclosures as measured by notices of trustee’s sale not yet acted upon. Outstanding auction notices totaled 8,879 last month, up 6% from July and 90% from a year ago — that’s buying prescription drugs auction notices issued over the past year or so minus those canceled or foreclosed. Here’s a chart of outstanding auction notices:
click to enlarge
Foreclosures are being delayed by the Obama administration’s Making Home Affordable program, or HAMP, and its three-month trial period for loan modifications, said Sean O’Toole, head of ForeclosureRadar.
“If the HAMP trials succeed, foreclosures should begin to cancel at record rates, which has yet to happen,” O’Toole said. “If HAMP trials fail, foreclosure sales should increase, which also has yet to happen.”
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