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2.5 million homes in foreclosure, shadow inventory rising: John Burns

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That dreaded shadow inventory of homes that has captured headlines and gripped the industry and market analysts with angst is beginning to make its way out of the darkness, according to John Burns.

The Wrap: Appraisal activity continues to pick up in second week of August Foreclosure programs aid 1.6 million homeowners: Obama Scorecard foreclosure mitigation programs continue to provide relief for millions of homeowners as the recovery from the housing crisis continues. Nearly 2.0 million homeowner assistance actions have taken place through the Making Home Affordable Program, including more than 1.3 million permanentAdditionally, we are seeing a strong pick up in EMV sales with mid-tier accounts and single site owners. These improved bookings along with key business wins continue. funnel. To wrap up, our team.

 · Distressed properties – foreclosures and short sales ) – make up just 2% of home sales today, down from a high of 49% in March 2009, according to the National Association of Realtors.

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Jeff Collins, at the O.C. Register, has a Q&A with Wayne Yamano, vice president at John Burns Real Estate Consulting: Loan mods won’t halt foreclosures, study shows Register: Your study says that five million of the 7.7 million delinquent homes will go through foreclosure or a "foreclosure-related procedure."

The shadow inventory continues to fall.. "If you see rates rise, you'll see the mortgage market slow down," Moynihan said at same event.. Almost a million former home owners who underwent a foreclosure, deed-in-lieu of. National housing analyst john burns believes home building will climb, but not jump, this year.

Between August 2016 and 2017, the average list price was nearly $3 million while homes sold on average for around $1.8 million, he said. That’s very powerful,’ he said. There’s a lot of overpriced inventory in Greenwich and weakening in appreciation for old-world estates.'”

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Once again, existing home sales fell, and once again, median home prices declined from a year ago. The specific figures are these: Sales of existing home fell by 2 percent in March to a seasonally adjusted annual rate of 4.93 million units, down 19.3 percent compared with a year ago.

 · John Wieland, CEO of his namesake company, metro Atlanta’s sixth-largest home builder, said he is working with Compass Bank and expects to resolve the issue before the foreclosure.

He has not completely soured on the housing market and estimates that existing home sales will finish 2018 at a pace of 5.345 million-a decrease from the 5.51 in 2017. In 2019, sales are forecasted to increase to 5.4 million, a 1 percent increase, but still below 2017 levels.

5/6/19 Realty news online multigenerational households are on the rise, 10/ 17/10 Housingwire 2.5 million homes in foreclosure, shadow inventory rising.

FHFA: GSEs prevent 129,000 foreclosures in 2Q 2.5 million homes in foreclosure, shadow inventory rising: John Burns CredAbility receives $4 million in grants to prevent foreclosures

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