Phoenix Area Foreclosures Latest



According to Zillow, there are roughly 3,000 homes which are foreclosed or in pre-foreclosure. This high number, caused by years of financial hardship across markets and specifically in Arizona’s real estate market, give potential buyers a lot of options and a lot of power. Banks need buyers, and that can only work in the favor of future homeowners.

Citibank, Wells Fargo Halt Foreclosure Sales Due To New Rules



Two of America’s biggest banks have announced a temporary halt to foreclosure sales in several US states. Citigroup and Wells fargo said that the move was a precautionary measure after federal regulators made changes to guidance on the minimum standards applied to foreclosure transactions in the affected states.

Experts Speculate on Foreclosure Discounts



The general consensus is that foreclosures will soon pick up again, as lenders look to start getting through the huge backlog of troubled loans they have amassed over the last year and a half. This expectation has led to a number of analysts wondering what the impact on overall home prices will be.

LPS Reports Spike in Foreclosure Starts and Sales



Foreclosure starts and foreclosure saw a significant jump last January, rising by 28% and 29% respectively on the previous month’s totals, according to the Lender Processing Services’ (LPS) latest available data.

Low Appraisals Continue to Hurt Real Estate Sales



Thousands of real estate deals up and down the country continue to called off due to low appraisals which come in lower than the previously agreed-upon sales price, new surveys have revealed.

Government Plans To Rent Out Foreclosed Homes



The government is investigating new plans to try and limit the number of foreclosures going onto the market in an effort to prevent unsold foreclosed homes damaging values even more – by simply renting them all out instead. The Wall Street Journal reported that the Obama administration is currently examining the viability of pulling foreclosed […]

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