Friday, October 28, 2011

Housing News Digest, October 28

Foreclosure rates decline in Northern Colorado
Foreclosure rates in August for the Fort Collins-Loveland and Greeley markets decreased over the same month a year earlier, according to a report by California-based CoreLogic.

The report said the foreclosure rate for Fort Collins-Loveland was 1.05 percent, down from 1.19 percent in August 2010.

The CoreLogic report noted that the Fort Collins-Loveland mortgage delinquency rate in August was 2.58 percent compared to 3.13 percent a year earlier.

Denver-area brokers, lenders offer ways to improve short sales
Lenders and servicers say they’re frustrated with incomplete loan packets and buyers not being pre-approved.

Both offer explanations, updates and suggestions for improving the process.

“It’s confusing as hell out there right now,” said Ron Woodcock, a short-sale expert with Re/Max Southeast Inc. of Denver. “To get a short sale approved, it ...

Are rich foreigners the answer to America's housing crash?
That half a million dollars, according to Schumer, one of New York's two Democratic Senators, could be part of the answer to the country's housing crash. Schumer and Mike Lee, a Republican Senator from Utah, are trying to drum up support for legislation that will entice foreigners to invest €359,000, C$508,000, 78m yen or 3.1m yuan in US residential real estate. And the sweetener: a visa to live here as long as you own the property. Is it starting to look attractive? It might be to those who don't subscribe to the thesis that America's best days are behind it.

Zillow: Buyers over optimistic on home value appreciation
More than 42% of prospective homebuyers polled by Zillow believe home values will appreciate by 7% annually in the years ahead.

"It's troubling that we're still in the midst of one of the worst housing recessions in history, and yet prospective buyers continue to have such high expectations for home value appreciation," said Stan Humphries, chief economist at Zillow.