...Foreclosures Spike!
"The housing market has seen some positive signs recently, such as stabilizing home prices and increased sales, but foreclosures continue to haunt the market.
In the first three months of 2010 foreclosure filings rose 7%, to more than 930,000, compared with the previous quarter, according to the online foreclosure marketing firm RealtyTrac. That is a 16% jump over the first three months of 2009.
Foreclosures started off the first quarter with modest gains but spiked in March to a record 367,000 filings. Plus, nearly 258,000 of those filings were for bank repossessions, the highest quarterly total RealtyTrac has ever reported.
"It looks like the log jam is finally breaking up," said Rick Sharga, a RealtyTrac spokesman. "A lot of foreclosures had come into the process and then just stopped."
State by state
Nevada continued to dominate the foreclosure rankings, with one in ever 33 homes receding a filing during the quarter. This is the state's 13th consecutive quarters in the top spot.
Arizona had one for every 49 units, Florida one for every 57 and California one for every 62. The Golden State, by far the nation's most populous, had a total of more than 216,000 filings, more than any other state and 23% of the nation's total foreclosure activity.
Other poor performers included Utah, where the foreclosure rate jumped 75%, Michigan and Georgia.
The least affected states included Vermont (one in 8,932), West Virginia (one in 4,010) and North Dakota (one in 2,161)." ~ Source: CNNMoney.com
Get more information on the value of homes for sale in North Carolina from Henderson Properties.
Tuesday, April 27, 2010
Wednesday, April 21, 2010
Home for Sale!
Henderson Properties, a full service real estate company in Charlotte, NC, has a new home for sale!
This 2-story modern home is located at 11319 Baronia Place, Charlotte, NC, 28227, in the middle of the Brittany Oaks subdivision.
This all brick home is nestled on a quiet cul-de-sac. Property features a sideload garage and fenced in back yard. The master bedroom has recently been updated, along with the master bathroom with new fixtures and granite countertops.
The kitchen also recently received a face-lift, with new granite countertops and Maple cabinets. This home features an optional 5th bedroom / TV room on the main floor.
The landscaping on this home is stunning, and the location is ideal. Contact Henderson Properties at 704 - 544 - 0253 to view this home for sale in Charlotte.
This 2-story modern home is located at 11319 Baronia Place, Charlotte, NC, 28227, in the middle of the Brittany Oaks subdivision.
This all brick home is nestled on a quiet cul-de-sac. Property features a sideload garage and fenced in back yard. The master bedroom has recently been updated, along with the master bathroom with new fixtures and granite countertops.
The kitchen also recently received a face-lift, with new granite countertops and Maple cabinets. This home features an optional 5th bedroom / TV room on the main floor.
The landscaping on this home is stunning, and the location is ideal. Contact Henderson Properties at 704 - 544 - 0253 to view this home for sale in Charlotte.
Monday, April 5, 2010
Positive Real Estate Outlook
"When home prices, mortgage applications to buy homes and consumer confidence are ALL pointing upward, even the perpetual doomsayers on Wall Street have to admit: Housing in the U.S. looks like it's on a very positive track.
And that's where we are right now. The latest monthly Standard & Poor's/Case-Shiller home price index came in higher last week. Prices were up in 12 of the 20 major markets that Case Shiller monitors.
On a year-over-year basis, prices gained nine percent in San Francisco, six percent in San Diego, about four percent in metropolitan Dallas, Washington DC and Los Angeles, 2.6 percent in Denver and one and a half percent in Boston.
Even Cleveland, which has struggled with unemployment and distressed home sales, saw prices gain, though by only two tenths of a percent.
Not all markets were up in the Case Shiller index of course; Las Vegas, Detroit and Tampa all continued to lose ground in the past 12 months. The turnarounds there are still sometime down the road.
Consumer confidence also improved significantly in the last month, as measured by the Conference Board. That's hugely important for overall economic growth and for home sales in the months ahead.
The Conference Board's index, which is based on interviews with a representative sample of 5,000 households, jumped by seven points in March from February - pushed by cautious optimism that the jobs situation may be slowly turning around.
The Commerce Department released parallel findings last week - that consumers are finally beginning to loosen up on spending, and are making purchases they deferred during the scary months of 2009.
Personal consumption in February increased at a three percent annualized rate. That was a bit of a surprise since the Commerce Dept. also found that household incomes showed little or no corresponding increase -- consumers were simply more willing to spend more ... and save a little less.
If that rate of expansion in consumption continues, not only will it begin to whittle away at the unemployment rate, but also stimulate the entire US economy, since consumer spending accounts for 70 percent of the national gross domestic product or GDP.
The housing and mortgage sectors could also begin to show some of that confidence and willingness to spend.
Home sales are expected spike upwards in the coming several months as the two federal housing tax credits head for expiration.
And in fact, the Mortgage Bankers Association reported last week that applications for new loans to buy houses - a bellwether indicator - jumped by seven percent and now stand at their highest level in six months." ~ Source: RealtyTimes.com
For more information on real estate in Charlotte, contact Henderson Properties!
And that's where we are right now. The latest monthly Standard & Poor's/Case-Shiller home price index came in higher last week. Prices were up in 12 of the 20 major markets that Case Shiller monitors.
On a year-over-year basis, prices gained nine percent in San Francisco, six percent in San Diego, about four percent in metropolitan Dallas, Washington DC and Los Angeles, 2.6 percent in Denver and one and a half percent in Boston.
Even Cleveland, which has struggled with unemployment and distressed home sales, saw prices gain, though by only two tenths of a percent.
Not all markets were up in the Case Shiller index of course; Las Vegas, Detroit and Tampa all continued to lose ground in the past 12 months. The turnarounds there are still sometime down the road.
Consumer confidence also improved significantly in the last month, as measured by the Conference Board. That's hugely important for overall economic growth and for home sales in the months ahead.
The Conference Board's index, which is based on interviews with a representative sample of 5,000 households, jumped by seven points in March from February - pushed by cautious optimism that the jobs situation may be slowly turning around.
The Commerce Department released parallel findings last week - that consumers are finally beginning to loosen up on spending, and are making purchases they deferred during the scary months of 2009.
Personal consumption in February increased at a three percent annualized rate. That was a bit of a surprise since the Commerce Dept. also found that household incomes showed little or no corresponding increase -- consumers were simply more willing to spend more ... and save a little less.
If that rate of expansion in consumption continues, not only will it begin to whittle away at the unemployment rate, but also stimulate the entire US economy, since consumer spending accounts for 70 percent of the national gross domestic product or GDP.
The housing and mortgage sectors could also begin to show some of that confidence and willingness to spend.
Home sales are expected spike upwards in the coming several months as the two federal housing tax credits head for expiration.
And in fact, the Mortgage Bankers Association reported last week that applications for new loans to buy houses - a bellwether indicator - jumped by seven percent and now stand at their highest level in six months." ~ Source: RealtyTimes.com
For more information on real estate in Charlotte, contact Henderson Properties!
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