MARKET TRENDS e-Newsletter
Find the latest issues of the Marekt Trends e-Newsletter, informing you of the most up-to-date foreclosure trends and properties.
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Phone: 810-844-2316 Email: timsova@remax.net | |||||||||||||||||||||||||||||||||||||
September 2010 Vol 4 Issue 18
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| Michigan Foreclosure Activity Speeds up in JulyForeclosure activity in Michigan increased 10 percent in July to 18,833 properties with foreclosure filings, 128 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. “Michigan foreclosures were up in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 36 percent for the month. While declining recently, the state’s unemployment rate is still the second highest in the nation. This needs to change before we see foreclosures really start to come down here.” Complete Story | ||||||||||||||||||||||||||||||||||||
Cash Flow Crazy: A Real Estate Investor StoryBy Daren BlomquistMinneapolis-area resident Mark Kozikowski sold his business three years ago and started investing in real estate full time. He specializes in buying distressed buildings at a discount so he can renovate them and then rent them out for the long-haul with a nice monthly cash flow. Kozikowski uses RealtyTrac as his primary source for finding the distressed properties he purchases. “A lot of people think I’m crazy when I tell them what I do, and I actually think I got into this at a good time,” he said. “Because I’m buying more toward the bottom and finding a lot of good deals on distressed properties.” Complete Story | Here are some of the most recent Investment opportunities in the area.
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Is Mortgage Relief In Your Future?There’s a little voice you might have heard, the one which says it’s great that the government is trying to help people facing foreclosure but what about you and me? In July the typical borrower helped by the Making Home Affordable program was paying $513 less for their mortgage, a 36 percent decline. That’s good, and yet there’s that little voice. As much as I like my fellow citizens, why can’t the government help you and me save some mortgage money each month? In fact, such an idea is now on the table. Complete Story | |||||||||||||||||||||||||||||||||||||
Foreclosure Trends : June, 2010
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Phone: 810-844-2316 Email: timsova@remax.net | |||||||||||||||||||||||||||||||||||||
September 2010 Vol 4 Issue 19 | |||||||||||||||||||||||||||||||||||||
| Foreclosure Activity Increases 4 Percent in AugustForeclosure filings were reported on 338,836 properties in August, a 4 percent increase from the previous month but a 5 percent decrease from August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month. “The trend lines of decreasing default notices and increasing bank repossessions converged in August, with virtually the same number of new default notices and bank repossessions for the month — a clear indication that the clogged foreclosure pipeline is being carefully managed on both ends by lenders and servicers,” said James J. Saccacio, chief executive officer of RealtyTrac. Complete Story | ||||||||||||||||||||||||||||||||||||
Banks Delay Foreclosures and Pray Property Values IncreaseBy Peter G. MillerYou’ve probably heard that the nation’s banks had a $21.6 billion profit during the second quarter, reason enough to celebrate with big executive bonuses for our financial leaders. But before we break out the champagne it might be good to mention that the profits enjoyed by our bankers are no more believable than Bernie Madoff’s sworn testimony. If a sound financial system is crucial to the economy, a few rules must be bent to create the fiction of bank stability. That reality impacts home prices and foreclosure practices nationwide. Complete Story | Here are some of the most recent Investment opportunities in the area.
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Favorable Financing on Fannie, Freddie and FHA ForeclosuresA growing number of delinquencies and foreclosures on government-backed loans —combined with generous incentives for purchasing foreclosed homes owned by Fannie Mae, Freddie Mac and HUD — means buyers and investors will have plenty of opportunities in the coming months to pick up properties at bargain prices with low down payments and preferred financing. The two government sponsored enterprises (GSEs) — Fannie and Freddie — are acquiring real estate owned (REO) properties through foreclosure at a significantly faster pace than overall growth in REO activity based on RealtyTrac data from the second quarter. | |||||||||||||||||||||||||||||||||||||
Foreclosure Trends : July, 2010
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