Oct 15, 2009 | No Comments | Sean Mills
To tell you the truth all is pretty quiet on the CRE end of real estate with a wait and see attitude of everyone holding their breath. The squeaky wheel is residential right now and for at least a while.-Sean
SUDBURY, Mass. — Jon Davis handles 10 percent of the state’s foreclosure auctions. The Marshfield lawyer [...]
To tell you the truth all is pretty quiet on the CRE end of real estate with a wait and see attitude of everyone holding their breath. The squeaky wheel is residential right now and for at least a while.-Sean
SUDBURY, Mass. — Jon Davis handles 10 percent of the state’s foreclosure auctions. The Marshfield lawyer has been watching these auctions migrate from places such as Dorchester and Lowell.
Now you’ll see them in the Sudburys, the Hinghams and the Westons,” Davis said, “where you wouldn’t have in the past expected to see foreclosures.”
The reason for these auctions is not the crazy interest-rate mortgages. It’s the recession. Nowadays, people are losing their homes the way they used to before the sub-prime crisis.
“Historically, Buy Xenical people lost their home when they lost their job, they lost their health or they lost their spouse,” said Nick Retsinas, a housing market economist at Harvard University.
Unemployment is to blame again today. The number of foreclosure proceedings in Massachusetts has jumped an alarming 150 percent.
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Oct 15, 2009 | No Comments | Sean Mills
Our Southern California market is on a standstill in most things as they relate to real on line pharmacy estate. The upper end is feeling the pinch as they are get foreclosed on at an alarmingly high rate, er I should say the process is starting to gain steam as the “postponed” at the [...]
Our Southern California market is on a standstill in most things as they relate to real on line pharmacy estate. The upper end is feeling the pinch as they are get foreclosed on at an alarmingly high rate, er I should say the process is starting to gain steam as the “postponed” at the auctions are daily in the 90% plus rate.-Sean
Yale professor Robert Shiller says the recent upturn in housing prices doesn’t signal that everything is now hunky dory for the home market.
In fact, it’s just typical price volatility in an uncertain market, says the guru who called the massive housing crash years early.
“The sudden rise in home prices suggests that the psychology of the market has shifted substantially,” Shiller wrote in The New York Times.
“But what should we expect in the months ahead? Not necessarily that we’re entering a new housing boom.”
The good news is that the S&P/Case-Shiller home price index for 10 major cities rose 3.6 percent between April and July.
“While that is not a whopping increase, it followed a decline of 4.8 percent in the previous period, between January and April,” Shiller writes.
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Oct 15, 2009 | No Comments | Sean Mills
RealtyTrac® … today released its U.S. Foreclosure Market Report™ for Q3 2009, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008. One in [...]
RealtyTrac® … today released its U.S. Foreclosure Market Report™ for Q3 2009, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter — the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005.
Foreclosure filings were reported on 343,638 properties in September, a 4 percent decrease from the previous month but a 29 percent increase from September 2008. Despite the monthly decrease, September’s total was still the third highest monthly total since the RealtyTrac report began in January 2005, behind only July and August of this year.
“Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters,” said James J. Saccacio, chief executive officer of RealtyTrac. “REO activity increased from the previous quarter in all but two states and the District of Columbia, indicating that lenders may be starting to work through some of the pent-up foreclosure inventory caused by legislative delays, loan modification efforts and high volumes of distressed properties.”
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