Thursday, January 12, 2012

Housing News Digest, January 12

Metrolist Launches Real Estate Website Designed to Make Finding Homes Easier for Coloradans

DENVER, CO, Jan 12, 2012 (MARKETWIRE via COMTEX) -- Metrolist(R) has officially re-launched , a consumer-facing real estate search engine that's similar to search sites Trulia and Zillow but with more accurate and timely housing information, offering Colorado buyers, sellers and brokers an unrivalled ability to search for properties and open houses, find local real estate agents and coordinate home buying searches with a broker.

2011's foreclosure rate lowest since recession began

NEW YORK — About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac.

The firm cautioned that the decline does not necessarily indicate that the housing market is getting better, as many foreclosures have been delayed due to confusion over documentation and legal issues involved in the process.

Grand opening planned for farmworker housing

Community Resources and Housing Development Corporation (CRHDC) will celebrate the opening of a new farmworker housing community in North Delta on Jan. 12. Alta Vista de la Montana will provide agricultural workers in the area with access to safe, decent, and affordable housing in proximity to where they work.

The building will be open for visits and touring from 11 a.m. to 1 p.m. Thursday, Jan. 12, to mark the grand opening. Brief remarks will take place at 11:15 a.m. All festivities will take place at Alta Vista de la Montana, located at 7108 Highway 50. Please RSVP to Robin Wolff at [email protected].

New REO Inventory in 2011 = 804,423 Homes
RealtyTrac’s year-end report released Thursday shows foreclosure filings - including default, auction, and bank repossession notices - were reported on 1,887,777 U.S. properties in 2011. Of that total, 804,423 homes were taken back by lenders as REO

FICO warns mortgage, student loan delinquencies may rise
Bank risk professionals believe Americans who are over leveraged on mortgage, student loan and credit card debt remain a risk to the broader economy, according to a FICO report.

FICO drew that conclusion from a fourth-quarter survey of bank risk professionals conducted by the Professional Risk Managers' International Association.