Another Drop in Home Prices in 2011

Home prices in 2011 fell by 4.7 percent, according to CoreLogic–for the fifth straight year.  However, that decrease is due in large part to distressed sales, since once CoreLogic excluded short sales and REOs, prices declined only by 0.9 percent. Year-end data from CoreLogic shows home prices fell by 4.7 percent over 2011. It marks …

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Valuations and Sales Discounts Eat Away at Foreclosure Proceeds

Low property valuations and steep sales discounts reduce the proceeds from liquidated loans by almost a third, according to Moody’s Investors Service. As home prices drop, equity erosion drives most of the losses incurred on defaulted mortgage loans, but the analysts at Moody’s say in today’s environment that’s not the whole story. They maintain that …

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Study Finds Fewer Borrowers Sinking in Negative Equity

The depreciation of home values over the past half-decade has left millions of mortgage borrowers owing more than their home is worth – 10.7 million, according to CoreLogic. The company released its third-quarter update on negative equity within the U.S. housing market Tuesday. It shows that 22.1 percent of all residential properties with a mortgage …

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Industry Insiders Weigh in on Case-Shiller Uptick

In what Standard & Poor’s analysts described as a “welcome shift from recent months,” the closely watched S&P/Case-Shiller index showed its strongest positive movement since June of last year with the release of Tuesday’s report. The 20-city composite reading posted a 0.7 percent increase in April versus March. The 10-city composite was up 0.8 percent. …

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