Short sales are tough enough these days without this latest bit of news.
Just this week, Altera Real Estate’s Steve Thomas reported that the backlog of Orange County short sales is dizzying. About half of O.C. short sales — or sales in which a home is sold for less than is owed on the mortgage — [...]
Study: 1-in-53 short sales is fraudulent is a post from: Mortgage Insider
A waterfront Newport Beach home that reverted to the lender in May at $7,790,000 and went back on the market at $10,900,000 has sold for $9,050,000.
The 5,000-square foot, Cape Cod-style house at 2706 Bayshore Drive has 4 bedrooms and 6 baths and sits on a 7,026-square foot double lot.
The property is behind a guard gate and 2 [...]
Banked-owned Newport home sells for $9 million is a post from: Mortgage Insider
One out of every four homes sold in Orange County in June went for less than the seller owed on the mortgage, according to the latest figures from the Southern California Multiple Listing Service.
SoCal MLS figures show the monthly tally of “short sales” continued its 18-month climb since lenders began easing rules to help underwater [...]
Short sales top 700 in June is a post from: Mortgage Insider
The inventory of homes in foreclosure and short sales that are on the market in Orange County has grown by 29% so far this year, says Steve Thomas of Altera Real Estate in his bi-weekly report of the Orange County housing market.
He writes:
“The active distressed inventory has increased from 2,555 homes at the beginning of [...]
O.C.’s distressed home market grows by 29% is a post from: Mortgage Insider
Almost one out every four Orange County homes sold in May went for less than was owed on the mortgage, new figures from the Southern California Multiple Listing Service show.
Of the 2,778 homes sold through the MLS, 672 or 24.2% of them were so-called “short sales.”
By comparison, homes seized by lenders through foreclosure accounted for [...]
1 in 4 transactions a short sale is a post from: Mortgage Insider
Here’s the latest on Orange County’s foreclosure and short sale market, from Steve Thomas at Altera Real Estate, who does a biweekly analysis.
He says:
“The distressed inventory continued its slow climb this year, adding an additional 89 homes in the prior two weeks and now totaling 3,080, a 3% increase. The inventory has not surpassed the [...]
Distressed homes market grows slowly is a post from: Mortgage Insider
The public has less interest now in buying foreclosed homes than it did a year ago, a new survey shows, prompting concern about who will buy all the respossed homes coming on the market and the effect on a housing recovery.
Consumers who would consider purchasing a foreclosure dropped to 45% this month from 55% last [...]
Fewer would buy repo’d home vs. a year ago is a post from: Mortgage Insider
The share of distressed homes for sale in Orange County is at 29.8% compared to 35.9% a year ago, says Steve Thomas of Altera Real Estate, who does a biweekly analysis of the Orange County real estate market.
He says:
“The number of active distressed homes on the market, all short sales and foreclosures combined, increased by [...]
Share of distressed homes for sale drops is a post from: Mortgage Insider
Homeowners who are in over their heads but have been unsuccessful at getting a loan modification may get some different help from Uncle Sam — $1,500 to move if they sell for less than they paid for the house, reports the New York Times.
Under the Obama Administration program, banks and second mortgage lenders would get [...]
Govt. to pay homeowners $1,500 to move is a post from: Mortgage Insider
Orange County home sales for less than a residence’s total debt increased 33.8% in January from the year before, Southern California Multiple Listing Service figures show.
The listing service reported that 487 of January’s deals were “short sales” — or sales in which the purchase price is less than mortgage balance. That’s nearly 28% of all [...]
O.C. short sales up 34% in January is a post from: Mortgage Insider
