Standard and Poors estimates that this is the principle balance of residential properties in foreclosure but not yet on the market. They categorize the shadow inventory as containing loans at least 90-days delinquent or somewhere in the foreclosure process, and properties taken into REO. At the c
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03/25/2011
My weekly report has been updated and the trends of the past few months continue. The inventory of available subdivision homes in Maricopa AZ continues to decrease. This is mainly driven by strong seasonal buying activity and the continued reluctance of lenders to release their shadow inventory o
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03/22/2011
The Nevada State Assembly introduced a bill that would allow authorities to charge a borrower with a felony if they willfully damage a home during the foreclosure process. This is the first state that I know of that has taken such a stance. I'm sure that you all have had the experience of listing
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03/22/2011
This article details the results of data released by the National Association of Realtors. Not only does it confirm what many of us already know but Standard and Poor's states that it could take over three years to clear this inventory. Florida leads the way with over 441,000 with California a di
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03/21/2011
Inventory continued to decline amid intense buying from seasonal visitors (snowbirds). Coupled with the fact that lenders are still holding back on the release of their foreclosure inventory, single level homes in the more desirable subdivisions are becoming scarce. Because of this, offers are ra
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03/17/2011
In this article, Clear Capital's Home Data Index Marketing Report the "prices in the West dropped 4.5% between December and February while prices in other parts of the nation leveled out. In addition, Clear Capital reported that eight of the 15 lowest performing markets are in the West." Actually
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03/10/2011
This is a great article that dives into the issues surrounding loan modifications nad wht they are not getting done. The media continues to offer homeowners hope that lenders really want to work to find solutions but, if that were the case, why do I only know of one person in Maricopa AZ in three
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03/09/2011
Here is my weekly update on the market for Maricopa Arizona homes. For the first time in six months, the inventory has not declined, it remained stable at 559 subdivision homes for sale. Buying activity from seasonal buyers and investors remain strong. It will be interesting to see if the invento
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03/08/2011
We can debate all day long about the reasons why this program is not successful but this article points out that this is an understatement. According to Katie Jones, analyst of housing policy of the Congressional Research Service, only 3% of the intended funds for this program have been dispursed
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03/02/2011
Read, Taxpayers instead of Treasury. Although I'm "excited" that Fannie has narrowed it's quarterly losses to a little over $2 billion, I'm not for giving them any more money. Between the GSEs, HAFA and HAMP, the government has done a miserable job trying to manage the housing crisis. They need t
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02/25/2011
