After more than a year of dire times in the real estate market, there is some good news: the bottom is in sight. “Good” is, of course, a relative term. Compared to month after month of declining values, foreclosures, and tight credit the prospect of flattening out the steep curve is as good as the news is going to get in the near future. The actual bottom of the real estate crash won’t be clearly defined until it has already passed and we see upward movement. There are signs, however, for those willing to look, that indicate the...

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With real estate markets in a downward spiral and many Americans having upside down mortgages (owing more than their homes are worth), a recent study by Forbes seems appropriate. Forbes studied the 150 largest housing markets in America, and using data from the US Census and the National Association of Realtors, they created a list of the 50 communities with the highest amount of homeowner debt.  For this study, they looked at the median house price, percent the house value changed since 2007,  number of outstanding mortgages, houses that had second mortgages or home equity loans, and houses that had both...

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I was reading a recent report by the Federal Reserve that stated that the total equity for homes in the U.S. was at its lowest point since 1945. As a matter of fact, the equity ratio is actually below 50% for the first time ever (they only have statistics back to 1945). What this means is that the American public for the first time owes more on their houses than the equity that is in their houses. Since 1945 we have been through multiple recessions and economic downturns, but this is a first. A few other stats from...

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The new boom in real estate is the home auction business, which is sweeping the U.S. at an unprecedented pace, according to a new report by Housing Predictor. All time record foreclosures caused by the melt down in the mortgage business have led lenders to make more foreclosures than ever before in U.S. history. Already 1-million homes have been foreclosed in 2007, and Housing Predictor forecasts at least another 2-million homes will be foreclosed through 2009. The forecast may be increased substantially unless Congress steps in to intervene and save home owners. The tsunami of foreclosures initially produced a record setting pace...

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