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Search Results for: 159

RealtyTrac Names 10 Best Beach Towns to Buy Foreclosures

...2012, with 530 foreclosure-related sales during that time. Discounts in Charleston averaged 34 percent compared to non-foreclosures. Hilton Head Island, South Carolina was number six on the list. In the first quarter of 2012, 159 foreclosure-related sales took place. The average sales price for foreclosure-related sales was $202,454, a 31 percent discount compared to non-distressed transactions. According to the 2010 Census Bureau numbers, there...

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Altisource Expands With Foreclosure Auction Services

Foreclosure Three BH to five of the top 10 financial institutions and several special servicers across the U.S., more than 2.7 million property inspections performed annually, more than 600,000 valuations provided annually, and more than 159,000 residential properties sold on Hubzu® with properties sold in all 50 states and Washington, D.C. Adding to its suite of servicer solutions, Altisource has announced a comprehensive set of foreclosure auction...

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The Single Refiling Rule Reconsidered

Most mortgage servicers and foreclosure practitioners are familiar with Illinois’ single refiling rule, which has been interpreted as permitting only one refiling of a claim, even if the statute of limitations has not expired. See 735 ILCS 5/13-217 and Flesner v. Youngs Development Co. 145 Ill. 2d 252, 252-54 (1991). In other words, once an action is filed and voluntarily dismissed, plaintiffs are only permitted one more suit on any specific...

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Report: Home Values Recaptured $1.9 Trillion in 2013

Based on early estimates of home values, properties nationwide are expected to gain almost $1.9 trillion in cumulative value in 2013, according to ""Zillow"": By the end of the year, analysts for the real estate marketplace ""predict"": home values will be a cumulative $25.7 trillion, up 7.9 percent from the end of 2012 (which in turn was up 3.9 percent from 2011)....

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Initial Unemployment Claims Slip Again

Initial unemployment insurance claims fell 7,000 for the week ending March 2, closing the week at an advance estimate of 340,000, the ""Labor Department"": ""reported Thursday"": [IMAGE] The decline represents the fourth drop in the last five weeks, indicating a downward trend in layoffs. Economists surveyed by """": had projected...

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Interthinx: Mortgage Fraud Risk Climbs to Highest Level Since 2009

...level since 2009, ""Interthinx"": reported Tuesday. [IMAGE] According to the company's ""Mortgage Fraud Risk Report"":, the mortgage fraud risk index climbed to 159, representing a 16 percent increase from Q3 2012 and 9 percent increase from Q4 2011. Interthinx pinpointed the source of the increase to a surge in property valuation fraud risk, which rose 25 percent from Q3. Property...

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Bank Failure Tally Rises to 10 After Two Weekend Closings

This year's bank failure tally rose to double digits over the weekend with the collapse of two more federally insured institutions. [IMAGE] ""FDIC"": announced the closing of Parkway Bank in Lenoir, North Carolina, and Douglas County Bank in Douglasville, Georgia, bringing the total number of bank closings this year to 10. ""CertusBank, N.A."":, of Easley, South Carolina, will assume all of Parkway's...

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Existing-Home Sales, Prices Jump in May

Existing-home sales rose a solid 4.2 percent in May to an annual sales rate of 5.18 million, the highest level since November 2009, the ""National Association of Realtors"": (NAR) reported Thursday. [IMAGE] Economists had expected existing home sales to hit 5.0 million. The median price of an existing home jumped $16,200 (8.4 percent) for the...

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Survey: Experts Predict 3.1% Price Increase in 2013

Home prices will increase by 3.1 percent in 2013 and top off 2012 with a 4.6 percent gain, according to ""Zillow's"": December Home Price Expectations Survey. [IMAGE] The survey, which was conducted by Pulsenomics LLC, was based on responses from 105 economists and industry experts. In September, survey panelists ""projected"" more modest gains and predicted prices would rise...

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Case-Shiller Indices Show Midwest Price Weakness

...istinct regional pattern, with prices falling in four Midwest cities--the only Midwest cities in the survey. Prices also fell in two of the six Southern cities and in one of the eight Western cities. The 10-city index rose to 159.24, while the 20-city index improved to 146.57--the highest level since September 2010 for both composites. [COLUMN_BREAK] The year-over-year price gains were led by Phoenix, where prices rose 23.0 percent, consistent...

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