Bank Foreclosures Sale Articles

Pre foreclosure sale figures as well as residential property sales improved in Portland, Oregon, last month. However, average and median prices of houses sold recorded a decline in January 2011 when compared with the same 2010 month and compared with the previous month. Inventories are also down, but remained higher than normal market levels.

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.

Sales of low-priced residences, including tax lien foreclosure properties, have risen in most parts of the U.S. since the start of the housing industry crisis. This has taken a huge percentage out of more expensive homes' market share. However, the market for million-dollar dwellings seemed to be gaining some ground as sales in this category increased last year in several regions, including Massachusetts.

Empty residential properties, including unoccupied fixer upper homes for sale, have increased in various suburban areas of Illinois in the past decade. According to local officials, these vacant homes are causing local municipalities to lose revenue from real estate taxes and can also mean fewer customers for businesses in the region.

The number of foreclosed commercial property for sale and distressed residential properties remained at high levels in Arizona in the 2010 fourth quarter. The state had the second highest number of foreclosure starts during the period, although it did record a decline in the number of delinquent homeowners.

The approval of the foreclosure tax credit actually gave the industry hope that the housing market can recover. But although foreclosure flings for the month of January declined, the reason is not because of the said incentive. Instead, experts are looking at the banks’ decision to halt foreclosure proceedings due to claims of illegal repossessions. January numbers were supposed to be higher, but since it is not, analysts are expecting [...]

Nevada continues to top the nation in terms of number of foreclosures and repossessed homes for sale. The state launched the Foreclosure Mediation Program in an effort to help troubled borrowers in the state. Although the initiative has been applauded by some government officials, a number of homeowners who enrolled in the program stated that it did not work for them.

In Oakland County, home property values have been falling consistently. Factors being blamed are the loss of jobs and the large inventory of bank and Freddie Mac foreclosures for sale in the market. All homeowners are worried about the loss of equity on their homes and this is evident in the many appeals made every February, when notices of assessment changes usually arrive.

According to the California Association of Realtors, the percentage of Orange County households which can afford to buy a starter home has increased 300 times since 2003, the last year when home affordability levels were at its highest. It leaves one to wonder if the inventory of homes and condo foreclosures has an impact on home affordability.

A registry for empty foreclosed properties, including FHA homes for sale, has been proposed in Georgia. However, the issue of fees and penalties is still under deliberation. The rates have been deemed too low by some of the members of the committee tasked with ironing out the proposal.

Several areas of Pennsylvania are recording a surge in home buying and selling activities, including those related to multi family foreclosures for sale. The increase in activities has led to rising housing unit prices and a stabilizing residential property market.