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BUSINESS
April 26, 2012 | By Tiffany Hsu
Foreclosures increased in the first three months of the year from the previous quarter but are down compared to a year ago, according to RealtyTrac. The Irvine-based foreclosure data firm continued a run of housing data this week, much of which suggests the housing market may be on the recovery track . But this year's landmark settlement over robo-signing at the nation's largest banks have many experts unsure of how to predict future foreclosure trends. "First quarter metro foreclosure trends were a mixed bag," said Brandon Moore, RealtyTrac's chief executive in a statement.
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BUSINESS
December 12, 2013 | By Ricardo Lopez
The number of foreclosure filings in the U.S. fell 15% last month, to a seven-year low of 113,454 properties, according to RealtyTrac. That's the largest over-the-month decline since November 2010 when filings fell 21%. “While some of the decrease in November can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all...
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BUSINESS
June 30, 2010 | By Alejandro Lazo, Los Angeles Times
Fewer bank-owned homes and properties in foreclosure sold in the first three months of 2010, according to a report released Tuesday. But experts said the nation's housing market will remain troubled for years to come. A total of 232,959 U.S. homes that sold in the first quarter were either bank-owned or in some stage of the foreclosure process. That's a 14% decrease from the prior quarter and a 33% decline from a peak in the first quarter of 2009, according to Irvine-based RealtyTrac.
BUSINESS
July 11, 2013 | By Cale Ottens
The number of U.S. properties in some stage of the foreclosure process fell 14% in June from a month earlier, an indication the housing market continues to mend, a new report said. A total of 127,790 properties had either a default notice, were scheduled for auction or had already been repossessed by the bank - a 35% decline from a year earlier and the lowest level since December 2006, according to RealtyTrac , an Irvine real estate data firm. RealtyTrac's midyear foreclosure report, released Thursday, also examined data in six-month chunks.
BUSINESS
June 10, 2010 | By Alejandro Lazo, Los Angeles Times
Foreclosure activity in the U.S. continued to level off in May with the number of homes caught up in some stage of the process falling 3% from April, a real estate firm said. A total of 322,920 properties received some kind of foreclosure filing last month — either default notices, scheduled auctions or bank repossessions — a 3% drop from April and an increase of less than 1% from May 2009, according to RealtyTrac in Irvine. One in every 400 properties in the country received a filing last month.
BUSINESS
November 4, 2009 | DAVID LAZARUS
Maria Casanova, an assistant professor of economics at UCLA, toyed with the idea earlier this year of buying a foreclosed property near the Westwood campus. She signed up for a prominent listing service called RealtyTrac. Casanova, 31, canceled her subscription not long after. Yet a few days ago she discovered that some other real estate company she'd never heard of has been billing her almost $45 a month for the last eight months. Consumer advocates say it's an all-too-common problem: People signing up for one thing online and inadvertently signing up for something else that comes with recurring monthly charges.
BUSINESS
July 11, 2013 | By Cale Ottens
The number of U.S. properties in some stage of the foreclosure process fell 14% in June from a month earlier, an indication the housing market continues to mend, a new report said. A total of 127,790 properties had either a default notice, were scheduled for auction or had already been repossessed by the bank - a 35% decline from a year earlier and the lowest level since December 2006, according to RealtyTrac , an Irvine real estate data firm. RealtyTrac's midyear foreclosure report, released Thursday, also examined data in six-month chunks.
BUSINESS
December 12, 2013 | By Ricardo Lopez
The number of foreclosure filings in the U.S. fell 15% last month, to a seven-year low of 113,454 properties, according to RealtyTrac. That's the largest over-the-month decline since November 2010 when filings fell 21%. “While some of the decrease in November can be attributed to seasonality, the depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all...
BUSINESS
September 16, 2010 | By Alejandro Lazo, Los Angeles Times
Big banks pushed fewer U.S. households into foreclosure for the seventh consecutive month in August, a real estate firm reported, though repossessions of properties already ensnared in the process hit a record. The continued convergence of the two trends — fewer notices of default filed on homes but more properties sold at courthouse steps — indicates that major lenders are meting out foreclosures in a systematic way so as not to flood the housing market with a wave of steeply discounted properties, RealtyTrac said.
BUSINESS
April 15, 2010 | By Alejandro Lazo
The number of U.S. households caught in the foreclosure process during the first quarter jumped 7% from the prior quarter as activity increased sharply in March, a real estate firm will report Thursday. Filings involving the later stages of foreclosure rose compared with the same period last year, according to RealtyTrac of Irvine, indicating that banks were beginning to repossess properties at a faster clip despite the Obama administration's push to help borrowers. "Lenders are starting to make a dent in the backlog of distressed inventory," RealtyTrac Chief Executive James J. Saccacio said.
BUSINESS
June 7, 2013 | By Cale Ottens
Looking for a cheap fixer-upper? You might check the list of the 15 best cities for do-it-yourself housing bargains, published this week by RealtyTrac, the Irvine-based real estate data firm. Shocker: No California cities made the list. The five best cities to find a bargain home are in the Rust Belt: Detroit, Chicago, Cleveland, St. Louis and Cincinnati.  The rankings come from the number of bank-owned homes that were built before 1960 and are valued under $100,000.  There are 3,773 such homes in Detroit, which is more than double Chicago's inventory, which is ranked just below the Michigan city.  Phoenix is the closest city to Southern California that made the list and ranks No. 8 on the list with 763 such homes.
BUSINESS
October 11, 2012 | By Jim Puzzanghera
WASHINGTON -- Foreclosure filings fell in September to their lowest level in more than five years as a housing market rebound showed another sign of taking hold. Substantial decreases in California and some other states hard-hit by the collapse of the housing bubble helped reduce filings to 180,427 last month, down 7% from August and 16% from a year earlier, according to foreclosure listing firm RealtyTrac. The last time filings were that low was in July 2007. Filings for the three-month period ending in September also were the lowest since the fourth quarter of 2007.
BUSINESS
August 10, 2012 | By E. Scott Reckard and Alejandro Lazo, Los Angeles Times
The nation's slowly improving housing market hit another bump last quarter, with more borrowers missing payments amid continued high unemployment, a report from a trade group shows. The Mortgage Bankers Assn., in a quarterly delinquency survey issued Thursday, said home loans with at least one missed payment but not yet in foreclosure increased in the second quarter to 7.58% of all mortgages. That's up slightly from 7.4% in the first quarter. A separate survey from foreclosure listing firm RealtyTrac Inc. said the number of homes going into foreclosure rose 6% in July compared with a year earlier, the third straight month of year-over-year increases.
BUSINESS
May 31, 2012 | By Tiffany Hsu
The number of U.S. homes purchased via short sale hit a three year-high in the first quarter of 2012, up 25% from a year earlier, according to a report on foreclosure-related sales. Owners unloaded 109,521 homes during the first three months of the year for less than what they owed on the mortgage, according to Irvine-based data tracker RealtyTrac. Such transactions help homeowners avoid having their properties repossessed by lenders, which must approve the sales. Short sales made up 12% of all residential sales during the quarter, commanding an average price of $175,461, a record low. “Financial institutions are agressively seeking to move through their inventories of homes in default or scheduled for auction,” said Stuart A. Gabriel, director of the Ziman Center for Real Estate at UCLA.
BUSINESS
May 30, 2012 | By Tiffany Hsu
More than a quarter of U.S. homes sold in the first quarter were bank-owned or in pre-foreclosure, according to a new report from RealtyTrac. That's 233,299 residential properties, 26% of all sales, according to the Irvine-based data tracker. Compared with the fourth quarter, foreclosure-related purchases were up 8% but flat from a year ago. The average sale price of such homes? $161,214, down 2% from the year-earlier quarter and a 27% discount on the value of the average non-foreclosure home.
BUSINESS
April 26, 2012 | By Tiffany Hsu
Foreclosures increased in the first three months of the year from the previous quarter but are down compared to a year ago, according to RealtyTrac. The Irvine-based foreclosure data firm continued a run of housing data this week, much of which suggests the housing market may be on the recovery track . But this year's landmark settlement over robo-signing at the nation's largest banks have many experts unsure of how to predict future foreclosure trends. "First quarter metro foreclosure trends were a mixed bag," said Brandon Moore, RealtyTrac's chief executive in a statement.
NEWS
October 1, 2010
Homes in foreclosure: A chart accompanying an article in some editions of the Sept. 30 Business section contained errors in illustrating the rise in the average price of homes sold during or after foreclosure in Southern California, the state and the nation. The chart listed prices for 2009 and 2010 but failed to note that the time frame was the second quarter of each year. The data, credited to Bloomberg, were compiled by RealtyTrac of Irvine. And the numbers presented for 2009 were incorrectly transcribed from RealtyTrac's original data.
BUSINESS
March 23, 2012
Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners. The "Mortgage to Lease" program, which was launched this week, will be available to fewer than 1,000 BofA customers selected by the bank in test markets in Arizona, Nevada and New York. Participants will transfer their home's title to the bank, which will then forgive the outstanding mortgage debt.
BUSINESS
March 23, 2012 | By Tiffany Hsu
Bank of America: Lenient landlord? The bank is launching a pilot program that would allow customers with underwater mortgages to avoid foreclosure by becoming renters. In its testing stages, the Mortgage to Lease program will involve fewer than 1,000 customers in Arizona, Nevada and New York who are at least 60 days behind on payments for their Bank of America loan. Their homes must be worth less than what is owed on their mortgages Bank of America will forgive the outstanding debt for homeowners who transfer their home's title to the company.
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