St. Louis Real Estate Search

 

Foreclosure activity in May down 33 percent from a year ago; buyer interest cools

RealtyTrac released their foreclosure report this morning for May 2011 which shows foreclosure filings (default notices, scheduled foreclosures and bank REO’s) were reported on 214,927 homes in May which is a 2 percent decrease from the month before and a 33 percent decrease from May 2010.

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St Louis Homeowners with Negative Equity Increases Slightly in First Quarter of 2011

A report released today by CoreLogic shows that 17.10 percent (97,772) of all St. Louis homeowners with a mortgage were in a negative equity position in the first quarter of 2011, up slightly from 17.0 percent the prior quarter. Negative equity is also referred to as being “underwater” or “upside down” and refers to […]

St. Louis Foreclosure Rates Declines in March; 3rd consecutive monthly decline

Dennis Norman

The St. Louis foreclosure rate in March was 1.73 percent, down slightly from 1.78 percent the prior month, but up over 21 percent from a year ago, according to a report published by CoreLogic. The report shows that the St. Louis Mortgage Delinquency rate (Serious delinquency, 90+ days delinquent) decreased to 4.83 […]

Foreclosures account for 28 percent of all home sales in first quarter 2011; Selling at discount of 27 percent

RealtyTrac released their foreclosure report this morning for the first quarter of 2011 showing that foreclosure homes (sales of bank-owned homes and those in some stage of foreclosure) accounted for 28 percent of all U.S. residential sales during the quarter. This is up slightly from 27 percent the prior quarter and the highest percentage […]

Mortgage Delinquencies Increase in April

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows mortgage delinquencies increased 2.4 percent in April, changing the downward trend we have seen in the prior few months. The good news in this report is that the U.S. foreclosure pre-sale inventory […]

45 Percent of Americans say government not doing enough to stop foreclosures; Other side of coin, over half of Americans want to buy a foreclosed home

According to a survey conducted by Harris Interactive® on behalf of Trulia and RealtyTrac, 45 percent of American adults say the government is not doing enough to prevent foreclosures. Only 17 percent think the government is doing too much and 16 percent say just the right amount is being done.

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Report Shows Little Improvement in Underwater Homeowners

Negative equity is the dominant factor driving the real estate market according to CoreLogic in it’s “U.S. Housing and Market Trends” report that was released today. According to the report, as of the 4th quarter of 2010, over 11 million (23 percent) of U.S. homeowners with a mortgage were in a negative equity position, […]

Freddie Mac Offering Closing Cost Assistance to Home Buyers

HomeSteps, the home-sale division of Freddie Mac, announced today it is launching a nationwide sales promotion on it’s inventory of foreclosed homes starting today. The promotion, titled “The HomeSteps Summer Sales Promotion”, is offering up to pay buyer’s closing costs, up to 3.5 percent of the sales price and a bonus to the selling agent […]

Foreclosure Activity in St. Louis Area Down 23 Percent in April

The St. Louis Foreclosure Rate declined over 23 percent in April from the prior month and was down almost 39 percent from a year ago, according to a report released this morning by RealtyTrac. Granted, some of this decline for April was no doubt due to the severe storms that hit the area April 19th […]

Mortgage Relief and Foreclosure Moratorium for Missouri Homeowners Impacted by Recent Storms

Spring storms in April caused 8 areas of the U.S. to be declared a National Disaster area, and another 9 more so far in May. As a result of tornadoes, severe storms and flooding on April 19th, five counties in Missouri, Butler County, Mississippi County, New Madrid County, Saint Louis County, and Taney County, were […]

St. Louis Foreclosure Rates Decrease Slightly in February; still up 26 percent from year ago

Dennis Norman

The St. Louis foreclosure rate in February was 1.78 percent, an increase of over 26 percent from a year ago, and just a slight decrease from January’s rate of 1.79 percent, according to a report published by CoreLogic. On a positive note, the report shows that the St. Louis Mortgage Delinquency rate […]

Report shows foreclosure inventories on the rise; 8 times higher than normal levels

A report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows that while mortgage delinquencies continue to decline, an enormous backlog of foreclosures still exists and is expected to continue for some time. As of the end of March, foreclosure inventory levels stand at […]

Feds Take Action Against Banks for Misconduct and Negligence Related to Mortgage Loan Servicing and Foreclosure Practices

Over the past year or so there have been dozens, if not hundreds, of stories questioning the manner in which lenders were handling the servicing of their loans, particularly those of underwater borrowers, as well as the foreclosure practices of many including “robo-signing” of foreclosure affidavits. Next came the lawsuits and now, this week, the […]

Foreclosure Activity Decreases 15 Percent during First Quarter of 2011

The 800 pound gorilla in the room has finally lost some weight!

RealtyTrac released their foreclosure report for the first quarter of 2011 which shows foreclosure filings were reported on 681,153 U.S. properties during the quarter, a 15 percent decrease from the previous quarter and a 27 percent decrease from the first quarter of […]

Undercover Investigation Reveals Possible Discriminatory Treatment of REO’s by Lenders

Forty three years ago today, President Lyndon Baines Johnson signed into law the Civil Rights Act of 1968 which included Title VIII, the Fair Housing Act which, as described on HUD’s website, “prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, […]

The Mortgage Forgiveness Debt Relief Act of 2007 – Update

UPDATE Jan, 2013 – Congress approved extending the Mortgage Forgiveness Debt Relief Act of 2007 through the end of 2013.

I first wrote an article on this topic a little over two years ago as the foreclosure rate was rising and borrowers were concerned about where they stood with the IRS with regard to […]

St. Louis Foreclosure Rates Increase for Fourth-Consecutive Month

Dennis Norman

The St. Louis foreclosure rate increased 1.7 percent in January to 1.79 percent, according to a report published by CoreLogic. On a positive note, the report shows that the rate of serious mortgage delinquencies in St. Louis (90+ days delinquent) decreased slightly to 5.14 percent in December from 5.18 percent the month […]

Shadow Inventory Drops Slightly but still at Nine-Month Supply

A report released this morning by CoreLogic shows that the current residential “shadow” inventory as of January 2011 declined to 1.8 million units, down slightly from 2.0 million units a year ago. This current shadow inventory represents a 9 month supply, same as the suply a year ago.

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Report shows enormous backlog of foreclosures

A report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows that while mortgage delinquencies continue to decline, an enormous backlog of foreclosures still exists and is expected to continue for some time. As of the end of February, foreclosure inventory levels stand at […]

St. Louis Foreclosure Rates Increase for Third-Consecutive Month

Dennis Norman

The St. Louis foreclosure rate increased 4.8 percent in December to 1.76 percent, according to a report published by CoreLogic. On a positive note, the report shows that the rate of serious mortgage delinquencies in St. Louis (90+ days delinquent) decreased slightly to 5.14 percent in December from 5.18 percent the month […]

St Louis Foreclosure Rate drops almost 20 percent in February

St. Louis Foreclosure Activity in February declines 40 Percent More in St. Louis than overall U.S.

RealtyTrac just released their foreclosure activity report for February showing foreclosure activity in the St. Louis metro area declined 19.6 percent from the month before and was down 17.86 percent from a year ago. The U.S. foreclosure rate […]

Foreclosure homes account for 26 percent of all 2010 sales

RealtyTrac released their foreclosure report for 2010 showing that foreclosure homes accounted for nearly 26 percent of all U.S. residential sales during the year. This is down from 2009 when 29 percent of all sales were foreclosure homes.

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St. Louis metro foreclosure rate up almost 9 percent in January

St. Louis bucks the national foreclosure trend…in the wrong way..

Earlier today I wrote that the U.S. foreclosure rate for January was up 1 percent from December and down 17 percent from the year before….unfortunately the numbers for St. Louis are not that good at all and in fact much worse. According to data released […]

U.S. Foreclosures up slightly in January; down 17 percent from year before

RealtyTrac released their foreclosure report for January 2011 showing there were foreclosure filings in January on 261,333 U.S. properties, a 1 percent increase from December but a 17 percent decrease from January 2010.

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Real Estate Investor Pleads Guilty to Bid-Rigging at Foreclosure Auctions

Today Richard W. Northcutt, a California real estate investor, pleaded guilty to conspiring with a group of real estate speculators who agreed not to bid against each other at certain public real estate foreclosure auctions in San Joaquin County. According to the court documents the primary purpose of the conspiracy was to suppress and restrain […]

Foreclosures in 2010 up from 2009 in U.S.; down in top ten foreclosure markets

RealtyTrac released their foreclosure report for 2010 which showed some mixed results. During 2010 there were 2,871,891 foreclosure filings in the U.S., an increase of 1.67 percent from 2009. However the metro areas with the 10 highest foreclosure rates all saw decreases in foreclosure filings in 2010 from the year before, in fact six […]

FHA Extends ‘Anti-Flipping Waiver’

The Federal Housing Administration (FHA) announced the temporary waiver of the “anti-flipping” rule has been extended through December 31, 2011. In my opinion the “anti-flipping” rule was a bad idea to start with and in the current housing market the last thing we need is anything to discourage investors from buying homes so this is […]

St. Louis Foreclosures and Delinquencies on the rise in November

Dennis Norman

The St. Louis foreclosure rate shot up 7 percent in November to 1.67 percent, according to a report published by CoreLogic. The report also shows that the rate of serious mortgage delinquencies in St. Louis (90+ days delinquent) increase slightly to 5.18 percent in November from 5.17 percent the month before.

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Foreclosures on the rise in December; Mortgage delinquences decline though

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for December was 8.83 percent which is a decrease of 2.1 percent from November’s rate of 9.02 percent.

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St. Louis Foreclosure Rates Increase for Forth Consecutive Month

A report released by CoreLogic showed that the St. Louis foreclosure rate increased in October marking the fourth-consecutive month of increases. The report shows St. Louis to have a foreclosure rate in October of 1.58 percent, a slight increase from September’s 1.57 percent, however an increase of over 11 percent from a year ago. […]