By Carrie Bay | 11/17/2010
The overall financial health of consumers showed incremental improvements in the first half of 2010, but that progress was wiped out during a span of three months due to weaker household budgets, renewed strains on housing costs, and high levels of unemployment, according to the nonprofit credit counseling agency CredAbility.
The average U.S. consumer has been in financial "distress" for nine consecutive quarters, with consumers in some parts of the country headed for financial "crisis."
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By Carrie Bay | 08/24/2010
National Catastrophe Adjusters, Inc. has been selected to administer a special allocation of funds dedicated to pay claims for real estate professionals who have lost business because of the April 20th Deepwater Horizon oil spill. This financial assistance will be administered outside of the recently established Gulf Coast Claims Facility and is earmarked for emergency payments to eligible real estate professionals licensed in Florida, Alabama, Mississippi, Louisiana, and Texas.
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By Carrie Bay | 08/20/2010
One in four real estate professionals polled by Clear Capital said the BP oil spill has brought home sales to a halt and is pushing already depressed property values lower along the Gulf Coast, with the impact even spreading beyond the coastal region to nearby areas that have seen no physical damage from the environmental catastrophe. Areas of Alabama and the Florida Panhandle are reporting an estimated 5-15 percent decline in home values and a drop in sales volume in June ranging from 25 percent to 33 percent.
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By Brittany Dunn | 08/02/2010
The BP Deepwater Horizon oil spill is expected to have a grave--and costly--impact on coastal area real estate. According to a recent report by CoreLogic, the impact of the spill on home values in coastal communities already affected by the spill is expected to range from $648 million over one year to as much as $3 billion over five years. And in the event that the unlikely, worst-case scenario occurs and the spill reaches around the Florida Keys and up the Atlantic coast of Florida, the additional losses could reach up to $28 billion over five years, CoreLogic said.
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