According to a report from Foreclosure-Response.org, the serious delinquency rate, which includes loans 90 or more days past due plus foreclosures, increased for the first time after a downward trend between December 2009 and June 2011.
Serious delinquencies rose from 9.2 percent in June 2011 to 9.7 percent in December 2011 for the nation’s 100 largest metropolitan areas. While the 90-plus delinquencies component of the percentage is flat at 3.8 percent and has remained largely unchanged for the past four quarters, foreclosure rates continue to rise and now stand at 5.9 percent. In June 2011, the foreclosure rate was 5.5 percent.
Analysis with the data suggested the build-up of foreclosed homes in judicial states is the main reason behind the rising foreclosure rate.
Metros located in judicial states had foreclosure rates averaging 7.2 percent in December 2011 compared with 4.7 percent for metros in non-judicial states.
Also, when separating metro trends in judicial states from non-judicial, the foreclosure rate in judicial areas has actually increased since March 2009, when Foreclosure-Response.org began tracking the data, while the rate has been roughly flat in non-judicial metros for the last five quarters.
Nearly half, or 46, of the 100 largest U.S. metro areas are located in judicial states.
http://www2.realtoractioncenter.com/site/R?i=iEo9QuAEyhY-KJ1Sje-0vA
CNNMoney
The S&P/Case-Shiller home price index of 20 cities recorded a decline of 3.5 percent in February compared with the year before.
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http://money.cnn.com/2012/04/24/real_estate/home-prices/index.htm?iid=HP_LN
Asking prices on for-sale homes rose 0.5 percent in April compared with March on seasonally adjusted basis, according to the latest report by Trulia’s Price Monitor. Together with increases in March and February, asking prices in April rose nationally 1.9 percent quarter over quarter, seasonally adjusted.
Within the largest metro areas, asking prices rose year on year in some neighborhoods, but fell in others. Rents, however, rose in nearly all parts of these major metropolitan areas.
In Los Angeles, asking prices increased only in the downtown area. Prices fell elsewhere throughout the region, most of all in Long Beach, where rents also fell.
In the San Francisco Bay Area, prices rose most in San Francisco and fell furthest in Alameda County.
http://www2.realtoractioncenter.com/site/R?i=F10BM-OoTom4wqVohXwzHA
Los Angeles Times
A year ago, 1 out of 10 REALTORS® surveyed said houses were receiving low-ball offers. In the latest survey, there were hardly any. Instead, the focus ha shifted to declining inventory levels.
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http://www.latimes.com/business/realestate/la-fi-harney-20120422,0,7259627.story
With the recent landmark National Mortgage Settlement between the nation’s five largest real estate loan servicers and state attorneys general over faulty foreclosure practices, troubled homeowners are at risk of falling victim to scam artists offering mortgage modification and other foreclosure prevention services.
C.A.R. wants to help consumers from being defrauded and has launched a special section on car.org with information about forclosure-prevention, short sale, and other types of mortgage-related fraud, along with information on where to get help and where to report suspected cases of fraud.
