Archive for the 'cities' Category

Inventories of foreclosed single family homes for sale and other types of residential foreclosures has eased somewhat in Orlando, Florida, as the metro area experienced a drop in nationwide rankings for areas with the highest foreclosure activities. Foreclosure-related filings also dropped from year-ago and month-ago levels.

Sales of residential properties, particularly bank foreclosures short sales, increased in Omaha, Nebraska in 2010 compared with year-ago levels. Housing industry analysts have ranked Omaha as one of the U.S. markets that will gain more strength in 2011, with growth expected to be gradual but steady for the rest of the year.

A number of residential foreclosures were put on hold in Philadelphia, Pennsylvania, as a sheriff's sales moratorium was put in place in the metro area. However, some banks have complained that it also prevented them from foreclosing on a number of developers that have failed to pay their loans.

At the start of this year, the housing market in Las Vegas showed a downward trend in terms of existing and distressed properties sales and an upward trend for new home prices. Based on the Home Builders Research report, there were only 232 new home sales and 3,098 existing home sales, down from 240 and 3,111 respectively.

The number of properties offered at foreclosure auctions and as Sheriff sale houses for the first time dropped in New York City last month compared with year-ago levels. The figure was also lower when compared with the previous month, but with a smaller difference. Year-over-year data showed that four of the five boroughs of the city recorded a drop, while one remained the same as year-ago levels.

Sheriff's foreclosure sale and other foreclosed property sales have become a great source of low-priced properties for investors and homebuyers. In Glendale, Arizona, the city has also taken advantage of these affordable properties, using them to fight neighborhood blight in areas with the highest concentration of foreclosed properties.

The year 2010 is not a very good one for the real estate market of Louisville, Kentucky as the city suffered from huge number of foreclosures, with bank lien homes, foreclosed apartment buildings and major commercial foreclosures weighing the city's real property market down. The area is set to end the year with another major apartment property foreclosure.

The number of home, commercial and apartment foreclosures for sale continues to rise in Cape Coral-Fort Myers, Florida during the 2010 third quarter, with the region posting the second highest rate of foreclosure in the whole U.S. compared with the current year's second quarter.

Chris Koster, Attorney General of Missouri, has recently announced that he will not impose a moratorium on bank foreclosures in Kansas City and the whole state, stating that to do so will cause economic harm to the area.

Housing units located near major employment areas in the city remain unaffordable for most workers despite the decline of housing values caused by the recession and the large number of Boston foreclosures for sale. This finding is part of a research study from the Urban Land Institute Terwillinger Center for Workforce Housing.

The number of foreclosures continues to rise in several areas of Massachusetts. Foreclosed homes in Boston and in other counties and cities of the state recorded higher totals for the month of August 2010 when compared with the previous year and with the preceding month. Halfway through September, foreclosure filings are already reportedly on course to beat August numbers.

Hudson and Marshall is scheduled to auction off over 200 Chicago foreclosed homes at the Westin Lombard Yorktown Center in Chicago, Illinois on October 2-3, 2010. According to the firm, those who are interested in buying one or more properties should prepare a certified check or cash deposit of $2,500 per property.

Economic data for the state of Colorado exhibited improvements for the month of August 2010. The state's foreclosure rates showed improvements, including data for Denver foreclosed homes, when compared with previous year's numbers. Economists have stated that despite recovery signs being minimal, they still signal an economic improvement.

The state of California has been provided with over $149 million by the U.S. federal government through its Neighborhood Stabilization Program (NSP). The money will reportedly be used to purchase and rehabilitate foreclosed residential properties, including Stockton foreclosure homes.

The numerous foreclosed homes for sale in Detroit, Michigan had created a bleak environment for city residents. According to some homeowners, vacant homes near their residences are mostly covered in graffiti, with valuables inside the premises all taken by robbers until there was nothing left.