Tag: 上海一块五kb小店

How REO Sales Impact Home Prices

first_img Previous: Barclays Settles RMBS Suit Next: HUD’s Carson: Proud to “Move Others up the Ladder”  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, Journal, Market Studies, News, REO With markets across the country suffering from pronounced inventory shortages, it would seem that anything that puts more homes on the market would be a good thing. A new report by Pro Teck Valuation Services found delved into that thesis, with an influx of foreclosed properties and REO sales causing very different results in two studied markets.The latest installment of Pro Teck’s Home Value Forecast (HVF) examined the state of the market in both Newark and Jersey City, New Jersey. Citing a recent Wall Street Journal piece entitled “Why New Jersey’s Soaring Foreclosures Are Good for the Housing Market,” Pro Teck set out to test the WSJ’s thesis that New Jersey’s skyrocketing foreclosure rate would help offset the Garden State’s housing inventory shortages and generally be good for the state’s housing market.For Newark, Pro Tech’s study found that the local market would not see much benefit from the high foreclosure rates. Foreclosures in Newark are at an all-time high, surpassing the 2010 volume. Pro Teck’s report explains that “In times of a ‘hot’ market, like in 2006 and 2012, the difference in price between REO and Regular sales begins to tighten, as the REO discount shrinks.” However, the REO discount has been on the upswing in recent years in Newark, which is depressing local home sale prices.In contrast, Pro Teck found that Jersey City, while also seeing increases in REO sales in recent years, REO sales have averaged less than 10 percent of total sales, thus having less of an impact on Jersey City’s home sale values. In fact, Pro Teck notes that Jersey City’s home prices surpassed the local pre-crash highs more than three years ago.According to a 2017 CoreLogic report entitled “United States Residential Foreclosure Crisis: Ten Years Later,” foreclosure inventory in New Jersey peaked at 89,000 in September 2012. Between 2007-2016, CoreLogic reported that New Jersey ranked third among the ten states with the highest peak foreclosure rate, coming in behind Florida and Nevada, respectively. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago April 2, 2018 3,766 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img How REO Sales Impact Home Prices Home / Daily Dose / How REO Sales Impact Home Prices Sign up for DS News Daily Share Save Tagged with: Foreclosure Pro Teck Pro Teck Valuation Services REO sales David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Foreclosure Pro Teck Pro Teck Valuation Services REO sales 2018-04-02 David Wharton Subscribelast_img read more