Archive for the 'cities' Category

The issue of Atlanta foreclosures in Georgia might soon be felt among commercial properties in the city. As of July 2010, real property research company Trepp LLC reported that around $1.6 billion worth of commercial loans in the area were delinquent for at least 60 days. The firm also reported that the amount is one of the highest among cities in the region in terms of delinquent commercial loans.

A recent study showed that it is not only rental rates that matter when it comes to deciding which cities are the most tenant friendly. Other factors, including Seattle foreclosures laws, are believed to also play roles in the condition of an area's rental housing market. The report ranked the city considerably lower than its initial ranking based on another research study.

The second quarter of 2010 saw the new housing market of Houston, Texas gaining momentum as home buyers and home builders both take advantage of the federal tax credit. This is good news for the area which is still reeling from the thousands of Houston foreclosures that have caused the decline of property values in the past couple of years.

A number of residential properties, each worth millions of dollars, had fallen into Detroit foreclosures. The latest luxury residence to be auctioned off is a house in the city of Novi that has an estimated worth of $18 million prior to the real estate crisis.

Sacramento foreclosures continue to post record numbers and it seems that another one is a potential addition to these numbers. Recently, a report revealed that a railyards project by developer Thomas Enterprises is facing possible foreclosure and if this problem is not immediately addressed, the whole project could be in a lot of trouble.

The still high percentage of Baltimore foreclosures for sale is making a lot of homes affordable in the area.

Investors and owner occupant buyers are taking advantage of the surge in Seattle foreclosures.

Aside from the availability of affordable Brooklyn foreclosures, there are other great reasons for out-of-state buyers to invest in Brooklyn real estate.

Rap artist Chamillionaire, whose real name is Hakeem Seriki, was not spared by the ongoing problem of foreclosures in Houston. The recording artist, who is best known for the song "Ridin'," has opted to default on the mortgage for a mansion he owns in Houston, Texas. According to the rapper, the decision was prompted by the fact that the house is now worth less than the mortgage he pays.

The surge in foreclosures in Denver and in other cities in Colorado in the first four months of this year reflected the weaknesses of the federal Home Affordable Modification Program, based on reports from the Colorado Department of Local Affairs-Housing Division and the Treasury Department.

Prices of houses are in better shape in Houston compared with national levels for the fifth consecutive months. Some homebuyers and sellers might perceive this as a recovery, but real estate market analysts have warned that current numbers do not portray the real condition of foreclosures in Houston.

A number of complaints from Indiana residents, including people who have lost their properties to Indianapolis foreclosures, led to the state formally filing a lawsuit against Daniel Shrader, an agent who works for several companies that offer help to troubled homeowners through foreclosure-related rescue programs.

Home buying preferences have changed due in part to the economic effects of Los Angeles foreclosures.

Despite the increase in loan modifications and the sharp decline in foreclosure activity in South Florida, the number of Miami foreclosures in April was still relatively high.

Tampa foreclosures continue to drag down home prices in the area. In the first quarter, foreclosures in Greater Tampa, which covers Clearwater and Saint Petersburg, increased by 17 percent compared to foreclosures in the first quarter last year and shot up by 22 percent compared to the final quarter of 2009.