St Louis Foreclosure activity increased in November to 1 foreclosure activity on 1 of every 1,086 housing units in the St Louis MSA, a decrease of 8.06 percent from the month before but an increase of 62.59 percent from November 2014, according to a report just released by RealtyTrac. Continue Reading →
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Distressed home sales in St Louis during the month of October 2015 accounted for about 11.6 percent of all home sales during the month, a decline of about 50 percent from a year ago when St Louis distressed home sales accounted for 23 percent of the all home sales, according to the latest data just released by RealtyTrac. Continue Reading → According to a report just released by TransUnion, the mortgage delinquency rate for borrowers that are 60 days or more delinquent, declined almost 30 percent during the 3rd quarter of 2015 from a year ago. During the third quarter of this year, the mortgage delinquency rate was 2.40%, down from 3.36% during the third quarter of 2014. Continue Reading → Foreclosure activity, after an extended downward trend, has trended upward lately in the St Louis metro area and October was no exception seeing an increase of over 13 percent (13.17%) in activity from the month before and, on a 12-month rolling average, an increase of almost 30 percent (29.85%) from a year ago, according to the latest data from RealtyTrac. Continue Reading → Distressed Home Sales accounted for just 13 percent of St Louis home sales thus far in 2015, a decline of 37.6 percent from two years ago when over 1 in every 5 (20.83%) St Louis home sales was a short sale or foreclosure. Continue Reading → St Louis Foreclosures spiked during the 3rd quarter of this year with all of the counties in Missouri that are in the St Louis MSA seeing an increase of double digits in foreclosure activity from a year ago, according to a report just released by RealtyTrac. Continue Reading → No, in spite of the fact this is October, this article is not about Halloween nor the zombies associated with it, instead, it’s about vacant homes that have delinquent mortgages but have not yet been foreclosed upon yet, which the industry has applied the term of “zombie” to. Continue Reading → St Louis distressed home sales share of the St Louis real estate market continues to decline minimizing the negative effect on home prices caused by distressed home sales. In August, distressed home sales, primarily consisting of foreclosures and REO’s (bank owned properties) at this point as short sales have fallen to the point to be statistically insignificant, accounted for just 6 percent of the overall home sales in the St Louis metro area, according to a report just released this morning by RealtyTrac. This is a decline of over 50 percent (56.3%) from a year ago when distressed home sales accounted for 13.7 percent of total home sales in St Louis. Continue Reading → St Louis Foreclosures in August decreased slightly from the month before (1.51%) however increased over 140% from August 2014, according to a report released today by RealtyTrac. According to the report, there were 1,176 foreclosure filings in the St Louis metro area in August 2015 which equates to 1 in every 1,043 housing units in the metro area. Continue Reading → There were 123,546 St Louis homeowners with negative equity, or in a seriously underwater condition on their mortgage meaning they owe more than the current value of their home, in the St Louis MSA during the 2nd quarter of 2015 according to the most recent data by RealtyTrac. This works out to 17 percent of all St Louis metro area homeowners with a mortgage being underwater on their mortgage which is an improvement from 21 percent just 2 quarters prior. Continue Reading → St Louis foreclosure activity increased in July 32.23 percent from the month before to 1,194 foreclosures actions in the St Louis metro area, or a rate of one foreclosure activity for every 1,028 homes, according to the latest data from RealtyTrac. As the table below shows, the foreclosure activity in July 2015 was up almost 150 percent from July 2014, however, when we look at the 12-month rolling average, we can see that the activity has risen about 6 percent from a year ago. (We work hard on this and sure would appreciate a “Like”)[iframe http://www.facebook.com/plugins/like.php?href=https%3A%2F%2Fwww.facebook.com%2FStLouisRealEstateNews&send=false&layout=standard&width=50&show_faces=false&font&colorscheme=light&action=like&height=35&appId=537283152977556 100 35 ] Over half of the St Louis Foreclosures (bank and government owned) sold in July were sold for cash, according to the latest data from MORE, REALTORS. In July 2015, there were a total of 323 foreclosure sales in the 5-county core St Louis market with 179 of them, or 55.4%, being cash sales. As the table below shows, the number of foreclosure sales in St Louis in July 2015 was down 12.5% from July 2014 while the median sales price was up 1.8%. There were a total of 3,754 home sales in St Louis in July 2015, an increase of Continue Reading → The Federal Reserve Bank of New York just released it’s Quarterly Report on Household Debt and Credit for the 2nd quarter of 2015 in which some encouraging facts were revealed with regard to the home mortgage market, including: Continue Reading → One year ago today, the small city of Ferguson gained international attention after Ferguson Police Officer Darren Wilson shot and killed Michael Brown, an incident which spurred weeks of violence and property destruction in Ferguson. This delivered a blow to the Ferguson real estate market which was still struggling to recover from the housing bubble burst in 2008 which had severely impacted the area. Continue Reading → St Louis property flipping activity rose during the 2nd quarter of this year 6.2 percent from the first quarter, however was down 44.3 percent from a year ago, according to information just released by RealtyTrac. During the 2nd quarter of this year, 3.2 percent of all home sales were “flips”, meaning they were purchased and then resold in an arms-length sale within 12 months. The average gross profit on the flipped property was $39,181 down for $50,870 a year ago. Continue Reading → For the month of May, 2015, less than 3 percent (2.95%) of St Louis mortgages were seriously delinquent (90+ days) marking a slight decline from the month before and a decline of 13 percent from a year ago, according to data just released by CoreLogic. Continue Reading → Foreclosure Sales In St Louis (the 5-county core market) in June 2015 totaled 374 sales, a decline of 4.3 percent from June 2014 where there were 391 foreclosure sales. The median price of the homes sold in June 2015 was 60,150, and increase of 7.2 percent from a year ago when the median price was $56,100. Continue Reading → St Louis Foreclosures during the first half of 2015 increased in the St Louis metro area 26.52 percent from the second half of 2014 and 25.18 percent from the same period last year, according to a report released today by RealtyTrac. According to the report, there were 5,468 foreclosure filings in the St Louis metro area during the first half of 2015 which equates to 1 in every 224 housing units in the metro area. As the table below shows, with the exception of St Charles County, all of the counties making up the St Louis core market saw an Continue Reading → St Louis bank and government owned home sales are down as banks and government enterprises such as Fannie Mae, FHA, VA and Freddie Mac whittle down their inventory of foreclosed homes while, at the same time, new mortgage delinquencies and foreclosure rates continue to decline. While this is Continue Reading → St Louis foreclosure activity in May 2015 continued the downward trend with a drop of almost 9 percent from the month before for the St Louis MSA as a whole, according to data just released this morning by RealtyTrac. As the table below shows, foreclosure activity in May was up over 55% from May 2014, however, when we look at the 12 month rolling average, which gives a better indication of the trend (blue area in table) we see that for the 12 month period ended in May foreclosure activity is down over 13% from the same time a year ago. Continue Reading → Over two million (2.2 million) boomerang buyers may re-enter the housing market as home buyers over the next five years as their credit recovers to the point where they can obtain a home mortgage again, according to a study just released by Trans Union. According to the study, 700,000 of those buyers will be eligible for mortgages this year alone. Boomerang buyers are described as homeowners who lost their home in foreclosure, did a short sale, deed in lieu or had some other serious negative credit action with regard to their home mortgage, such as becoming 60 days or more Continue Reading → During the 2nd quarter of this year, there was foreclosure activity on one out of every 887 housing units in Jefferson County, giving it the highest foreclosure rate of the main counties making up the St Louis real estate market, according to a report just released by RealtyTrac. Continue Reading → That’s right, Zombies are very real and very present in St Louis…at least Zombie foreclosures that is! That’s right. According to a foreclosure zombie report just released this morning by RealtyTrac, St Louis made the list of “Top 10 Zombie Foreclosure Rates Among Major Markets”, coming in at number 6 on the list with 1 of every 1,627 housing units being a zombie foreclosure. In the number 1 spot on the list was Tampa Florida where 1 of every 217 housing units is a zombie foreclosure (the complete list, and infographic, is below). Continue Reading → St Louis foreclosures increased in April from the month before in the St Louis area counties of St Charles, Jefferson and Franklin, were fairly level in St Louis County and declined almost 12 percent in the city of St Louis. For the 5 counties that make up the core of the St Louis real estate market, the median increase in foreclosure activity in April 2015 from the month before was, as the table below shows, 10.68%, and, compared with foreclosure activity from April 2014, the median increase in foreclosure activity was almost 30 percent, according to data released this morning by RealtyTrac. Continue Reading → Flipping homes accounts for a smaller percentage of home sales today at about 4 percent of total home sales in the U.S., then in the recent past when they accounted for 6 percent of more of the homes being sold (6.8% at the recent peak in 1st quarter 2012), according to a report released today by RealtyTrac. Continue Reading → House flipping in St Louis accounted for just 2.4 percent of the home sales in the St Louis metro area during the first quarter of this year, according to data just obtained from RealtyTrac. Continue Reading → Distressed home sales (foreclosures, REO’s and short sales) made up 13.5 percent of the home sales in the U.S. in February, 2015, a decline of 18% from a year ago when the rate was 16.5 percent and is a decline of 5.6% from January when the rate was 14.3%, according to a report just released by Corelogic. Continue Reading → The Federal Housing Finance Agency (FHFA) issued a release yesterday stating that while that agency acts as conservator for Fannie Mae and Freddie Mac, no “property of the Agency shall be subject to levy, attachment, garnishment, foreclosure, or sale without the consent of the Agency.” The release went on to say that Title 12 United States Code Section 4617(j)(3) “precludes involuntary extinguishment of Fannie Mae or Freddie Mac liens while they are operating in conservatorships and preempts any state law that purports to allow holders of homeownership association (HOA) liens to extinguish a Fannie Mae or Freddie Mac lien, Continue Reading → Between 2006 and 2014 nearly 9.3 million homeowners in the U.S. were either foreclosed on, did a deed of lieu of foreclosures, or did a short sale of their home, according to a recent report by the National Association of REALTORS (NAR). Continue Reading → Foreclosure activity in St Louis was on the rise in March with the foreclosure rate for the St Louis metro area increasing 14 percent from a year ago and over 64 percent from February, according to the latest data from RealtyTrac. As the chart below shows, foreclosure activity for the larger Missouri counties that are included in the St Louis MSA saw foreclosure actions decline from a year ago with the exception of Franklin County which saw a big increase. Continue Reading → |
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