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Western states lag in economic recovery Tuesday, July 19, 2011 @ 6:11PMIn this June 9, 2011 photo, a "bank-owned view price reduced," lot is chained and locked but advertised for sale, in Seattle. Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.
Pinnacle Financial Expands Profitability in Second Quarter 2011 Tuesday, July 19, 2011 @ 6:04PMNASHVILLE, Tenn.--(BUSINESS WIRE)--Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today reported that its net income per fully diluted common share available to common stockholders was $0.14 for the quarter ended June 30, 2011, compared to net loss per fully diluted common share available to common stockholders of $0.85 for the quarter ended June 30, 2010, and net income per fully diluted ...
Deltona makes homeownership possible for needy Tuesday, July 19, 2011 @ 5:33PMFederal-stimulus money is making homeownership possible for city's needy residents DELTONA — The dilapidated house on Sweet Springs Street was abandoned and vacant, one of the scores of foreclosed properties, before city officials used federal-stimulus dollars to buy and fix it.
Business Highlights Tuesday, July 19, 2011 @ 5:32PM___
Las Vegas home sales jump in June, but prices continue fall Tuesday, July 19, 2011 @ 3:41PMExisting home sales in June reached their highest level since August 2005, and the new-home market had its best month since November, according to statistics released today by SalesTraq.
Housing Starts in U.S. Climbed to Five-Month High in June Tuesday, July 19, 2011 @ 8:41AMHousing starts in the U.S. rose more than forecast in June to the fastest pace in five months, led by a surge in work on multifamily dwellings like apartments.
Visionary Apps' Complete Foreclosures App Now Exclusively Powered by RealtyTrac(R) Data Tuesday, July 19, 2011 @ 8:29AMSingle Property Record Purchase Feature Solidifies Complete Foreclosures as the Leading Provider of Quality Foreclosure Data in the App Store
In Tuesday's paper: Gap between foreclosure fillings, sales closing Monday, July 18, 2011 @ 10:19PMForeclosure filings rose last month and so did the number of bank-owned homes and condominiums sold, offering evidence that home sales in the Rock River Valley are still in a slump. HOW TO READ THE FULL STORY
Citigroup investigates charge it ignored servicemembers act Friday, July 15, 2011 @ 11:49PMBanking giant Citigroup is looking into allegations in a federal lawsuit filed by Sewickley-area lawyers that it ignored a law barring most foreclosures on homes owned by active-duty soldiers.
Foreclosures decline in Clark County Thursday, July 14, 2011 @ 8:07PMThe number of homes in foreclosure declined across the state and the nation in June, according to a national report issued Thursday. And the rate of foreclosure dropped even more rapidly in Clark County, which fell to the fifth-highest rate of foreclosure among Washington’s 39 counties last month, down from second-highest in May. National forecasters expect another wave of foreclosures to send ...
Foreclosure Inventory Driving Sales in Portland Real Estate Market According to Local Realtor Thursday, July 14, 2011 @ 7:50PMPortland, Oregon – The high inventory of foreclosures in the Portland market, including pre-foreclosure short sales and bank owned homes, is driving prices and sales according to local REALTOR David Somerville.
Foreclosures, short sales, and normal sales play tug-of-war with Orlandos overall median price Thursday, July 14, 2011 @ 7:47PMOrlando - The median price of Orlando area “normal” sales ($158,000) is now more than 40 percent higher than it was in June 2010 ($112,700), which is helping the area’s overall median price remain steady at $110,000. The median price is 4.35 percent lower than the $115,000 recorded in June 2010.
California's housing market picks up in June Thursday, July 14, 2011 @ 6:32PMSales rose 9.7% from May, DataQuick said, while the Southland saw an 11.6% boost, but purchases were down from a year earlier. Median prices for the state and region were up from the previous month. California's sluggish housing market showed some signs of life in June, with both Southern California and the Bay Area notching sales increases from May to June.
Short sale fraud plagues the housing market Thursday, July 14, 2011 @ 4:17PMJust as the housing market began to collapse near the end of 2007, a real estate agent in Bridgeport, Conn. asked Regions Bank if it would accept a $102,375 bid on a home that was underwater on its mortgage. Under the impression that this was the best offer on the home, Regions agreed to the short sale and released the mortgage it owned on the home.
Foreclosures constant, prices down Thursday, July 14, 2011 @ 4:09PMThe local inventory of foreclosed properties is holding steady, but prices of homes listed for sale, in foreclosure or not, are dropping.
Short sale fraud plagues housing market Thursday, July 14, 2011 @ 3:41PMScammers are ripping off mortgage lenders by tens of thousands of dollars -- sometimes in a matter of hours.
RealtyTrac Powers Popular iPhone Foreclosure App Thursday, July 14, 2011 @ 3:10PMMobile applications company Visionary Apps has partnered with foreclosure data site RealtyTrac to power its popular foreclosure property search mobile application.
Warren’s Summer Grilling Thursday, July 14, 2011 @ 12:34PMObama’s financial-reform expert defends her new agency to a hostile House committee.
BofA Sells $2.5 Billion of Bonds Amid Foreclosure Deal Talks Thursday, July 7, 2011 @ 4:29PMBank of America Corp. sold $2.5 billion of bonds as it nears a settlement on state and federal claims over faulty foreclosures that’s increasing investor confidence in credit of the biggest U.S. bank.
Bank of America Plans Bond Sale Amid Foreclosure Deal Talks Thursday, July 7, 2011 @ 3:17PMBank of America Corp. may sell $2.5 billion of bonds today as it nears a settlement on state and federal claims over faulty foreclosures that’s increasing investor confidence in credit of the biggest U.S. bank.
New Housing Program Is Aimed at the Unemployed Thursday, July 7, 2011 @ 3:09PMAn initiative from the Obama administration is meant to allow eligible homeowners to postpone all or part of their mortgage payments for a year or more.
Defaulted Mortgages Draw Investors Of All Sizes Thursday, July 7, 2011 @ 2:55PMDespite losing billions in mortgage-backed securities in the real estate bust, investors are aiming for profit from defaulted mortgages. They buy these individually or in bundles from lenders and via funds.
Bank of America Plans Bond Offering Amid Foreclosure Deal Talks Thursday, July 7, 2011 @ 1:15PMBank of America Corp. may sell five- year bonds today as it nears a settlement on state and federal claims over faulty foreclosures that’s increasing investor confidence in credit of the biggest U.S. bank.
This year's best tax deductions Thursday, July 7, 2011 @ 10:02AMAnybody who has raised children, supported elderly parents, or even just owned a house knows how costly they can be. But this year the home front is where easy-to-overlook tax breaks can be found.
Are Self-Dealing Parties Settling $242 Billion of Bank of America Liabilities for Way Too Little? Wednesday, July 6, 2011 @ 2:43AMA petition filed by some unhappy investors on Tuesday raises some serious challenges to the so-called Bank of America mortgage settlement. The embattled bank hopes to shed liability for alleged misrepresentations made by Countrywide on loans sold in 530 mortgage trusts with $424 billion in par value. We said it was a bad deal for investors because, among other things, it included a very broad ...
E-mail letters, July 5, 2011 Tuesday, July 5, 2011 @ 3:29PMRegarding the recent writer accusing others of twisting meaning of words July 1, 2011: A person doesn’t have to twist the meaning of the words of writer Arn McConnell.
3 out of 5 mortgages in region underwater Tuesday, July 5, 2011 @ 12:07PMJason and Sheri Whinery stand in front of one of their two homes, one was purchased in Redding, Calif, for a job move and then this home purchased in Sparks after they moved back. Both homes are underwater and the couple hopes prices will return to previous prices.
Downtown housing filling up Sunday, July 3, 2011 @ 4:51PMELGIN — Thanks to a change in marketing strategy, two high-profile downtown housing developments now are close to being fully occupied.At Fountain Square on the River, along South Grove Avenue not far from Chicago Street, property manager Katie Lange said the occupancy rate is 90.3 percent for the 93-unit building.And about two blocks away on South Grove, the occupancy rate is 99 percent for the ...
Fannie Mae silence on Taylor Bean led to US$3B fraud Thursday, June 30, 2011 @ 3:15PMDespite discovering 200 loans acquired from Taylor Bean were bogus, Fannie Mae officials never reported the fraud to law enforcement or anyone outside the company. It led to the 'largest bank fraud schemes' in U.S. history
Home prices increase in U.S. in May, but fall year-over-year locally and nationally Thursday, June 30, 2011 @ 3:02PMEven as home prices nationwide climbed in May for the second straight month, but continued to fall year-over-year, as did Jacksonville area home prices.
Fannie Mae Silence on Taylor Bean Led to $3B Fraud Thursday, June 30, 2011 @ 12:23PMThe first sign of what would ultimately become a $3 billion fraud surfaced in 2000 when a Fannie Mae executive discovered Taylor, Bean & Whitaker sold him a loan owned by someone else
More Canadians showing an interest in Hawaiian properties Thursday, June 30, 2011 @ 7:52AMSnorkelling, swimming, surfing and suntanning aren't the only reasons Canadians visit Hawaii these days.
Equifax Study Reveals Impact of Shadow Inventory and Real Estate Owned Properties on Economic Recovery Thursday, June 30, 2011 @ 7:00AMDespite steady gains in key industry sectors, the nation's housing market continues to exert pressure on the overall rate of economic recovery. While financial conditions across multiple financial sectors suggest economic stabilization and growth, delinquencies still exceed pre-recession levels due to continued turbulence in the mortgage marketplace, according to Equifax national credit trend ...
Real Estate Wonk: Following the fate of struggling homeowners Wednesday, June 29, 2011 @ 11:13AMSt. Ambrose Housing Aid Center in Baltimore saw more than 1,000 homeowners trying to avoid foreclosure in 2007, the first year of the long-running crisis. What has become of them since then, staffers wondered?
Here's Why The US Is An Even Bigger Kleptocracy Than Greece Wednesday, June 29, 2011 @ 10:59AMIf we dare look at the plain facts of the matter, we have to conclude the U.S. is a kleptocracy not unlike Greece, only on a larger and slightly more sophisticated scale.
Home Prices in 20 U.S. Cities Probably Declined in April From Year Earlier Monday, June 27, 2011 @ 11:00PMHome prices probably decreased in April, showing the housing market remains an obstacle for the U.S. recovery, economists said before a report today.
Overgrown properties cost thousands to mow Saturday, June 25, 2011 @ 7:30PMBy Samantha SommerStaff Writer
Foreclosure activity plummets in valley for 2nd consecutive month Saturday, June 25, 2011 @ 10:44AMForeclosure activity in the Coachella Valley plummeted by more than one-third in May compared to the same month a year ago, marking the second straight month with a significant decline, a new report shows.
Volusia cities face more cuts, higher taxes as initial tax rolls show declines Saturday, June 25, 2011 @ 1:09AMVolusia County governments are looking at another year of belt-tightening following the release Friday of preliminary tax roll values that show every city faces a decline -- though some are far steeper than others.
Myrtle Beach area Realtor named one of top in the nation Friday, June 24, 2011 @ 10:27PMLocal Realtor Blake Sloan pretty much knew his career path as he grew up watching family members who worked in real estate, but now Sloan is ready to take the family tradition forward.
Median home price $435,000 in May: With incentives gone, sales volume off from a year ago Friday, June 24, 2011 @ 10:14PMSANTA CRUZ — Typically this is the time of year when home sales pick up. Not this year. In Santa Cruz County, 138 single-family homes sold in May, according to Gary Gangnes of Real Options Realty, who tracks the numbers.
Tampa retiree says he lost belongings in foreclosure blunder Friday, June 24, 2011 @ 7:48PMBy Eric P. Newcomer, Times Staff Writer Friday, June 24, 2011 Benito Santiago Sr. found his home at 4205 W Humphrey St. emptied and locked. He says it was mistaken for a foreclosure. TAMPA — After going out of town, an 82-year-old man returned home to find his house emptied out. Even the trash was gone. He found a padlocked door and a sign for a company that cleans out properties in foreclosure ...
Foreclosures and defaults not as high as expected Friday, June 24, 2011 @ 5:01PMPanelists offer explanations, but some expect more distress to continue. Vote in our poll or leave us a comment about foreclosures.
EconoMeter: Why aren't foreclosures in San Diego higher? Friday, June 24, 2011 @ 5:01PMPanelists offer explanations, but some expect more distress to continue. Vote in our poll or leave us a comment about foreclosures.
San Juan helps homeless become homeowners Friday, June 24, 2011 @ 11:01AMOn a whiteboard was a list that read "career training," "credit counseling" and "parenting classes," but Margaret McClean wanted to add one more."Wouldn't it be fabulous if someday you could own your own home?" the manager of a specially crafted...
Group Releases Report On City Foreclosures Thursday, June 23, 2011 @ 5:29PMA San Diego advocacy group recommended Thursday that local governments fine financial firms that fail to maintain foreclosed properties, and require them to reduce principals on troubled loans.
Sales of U.S. New Homes Fall for First Time in Three Months Thursday, June 23, 2011 @ 9:43AMPurchases of new U.S. houses fell in May for the first time in three months, showing the industry is struggling to gain momentum.
Industry fears second wave of Tampa Bay area foreclosures coming Tuesday, June 21, 2011 @ 8:38PMBy Mark Puente, Times Staff Writer Tuesday, June 21, 2011 Real estate experts have long predicted a second tsunami of foreclosures that would annihilate an already flailing housing market. The wave would hit as lenders reduce the enormous backlog of court cases stalled by sloppy documentation. But the Tampa Bay area so far shows no sign of a second wave. Mortgages with serious delinquencies are ...
South Florida real estate paradox: High volume cuts inventory but prices stay low Tuesday, June 21, 2011 @ 5:31PMThe volume of South Florida home sales rose, continuing a record-setting pace. Prices, however, are still on the decline, although there are signs of stabilization.
Law firm Fisher and Shapiro sued over foreclosure cases Tuesday, June 21, 2011 @ 4:38PMA former Chicago resident whose home is in foreclosure has filed a lawsuit against Fisher and Shapiro LLC, the law firm that admitted to Cook County Circuit Court that some of the mortgage foreclosures it handled contained altered documents.