Home purchases now made primarily by current homeowners

According to an article on DSNews.com, investors are no longer buying as much of the real estate inventory–but instead, current homeowners are. HousePulse attributes this change to the rising home prices and decrease in distressed inventory; home purchases from investors are now at 19.7 percent, down from 23.1 percent. First-time homebuyers had just a slight …

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2.3 million distressed homes have yet to hit market

“Just under 2.3 million U.S. homes made up a “shadow inventory” of distressed properties that are likely to hit the housing market in the future, according to Santa Ana-based data giant CoreLogic. That’s down from July 2011, when the hidden supply of distressed homes that could become a drag on home prices totaled 2.6 million …

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Understanding Foreclosure

Understanding Foreclosure It is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements also are contributing factors. When prices are rapidly accelerating during a real estate “bonanza”, many people go to any lengths available to get into the …

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Home Closing Timelines Increase, Especially in Distressed Market

Refinance applications and appraisal complications are holding up home sale closings, according to the Campbell/Inside Mortgage Finance HousingPulse survey released Monday. According to the report, the normal timeline for a closing is about 30 days. However, the recent HousingPulse survey found the timeline to be between 45 and 60 days. The delay is exacerbated among …

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