Distressed Dispositions Outpace New Delinquencies as Shadows Shrink

The industry’s shadows are shrinking, according to CoreLogic. The residential shadow inventory of unlisted REOs and soon-to-be REOs stood at 1.6 million units as of July 2011, based on the analytics firm’s calculations. CoreLogic says that tally represents a supply of five months and is down from 1.7 million units in April and 1.9 million …

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Preliminary Plans for 5,000 Homes Around the OC Great Park Okayed

The plan submitted by the Aliso Viejo-based developer has parks, shopping areas, trails, a school, police substation and other aspects. IRVINE — Plans for nearly 5,000 new homes ringing the Orange County Great Park won preliminary approval from a divided City Council last week. Irvine officials voted 3 to 2 on Tuesday night to OK …

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Phoenix Foreclosure Numbers Reveal a City on the Mend

Home sales in the metro Phoenix area are heating up thanks to the popular foreclosure market, according to ForeclosureDeals.com. The site reports that there were more than 10,000 home sales in the Phoenix area in March with nearly 1,500 of those sales foreclosure homes. “Demand is starting to increase in the Phoenix area, and that’s …

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First-time Homebuyer Happiness

The first step in the home-buying process is to find out what you can afford to pay for a house, condo or co-op. This will depend on the amount of cash you have available for a down payment, your credit, income, assets, and overall financial situation. Mortgage qualification is easier for buyers who work as …

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