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According to the ATTOM Data Solutions 2020 U.S. Residential Property Mortgage Origination Report - The second quarter of 2020 saw 1.69 million refinance mortgages secured by residential properties. The homeowner's refinance loans are at the highest levels for the past seven years. The amount of refinanced also is highest in 17-years. Which are almost 50% more from the prior quarter and over
Residential Foreclosure Rates Drop 20 Percent In 3rd Quarter Across USA
Residential Foreclosure Rates Drop 20 Percent In 3rd Quarter Across USA
Attom Data Solutions Says Residential Foreclosure Rates Dropped 20% On Average.
A new report from Attom Data Solutions indicates residential home foreclosure rates dropped 20% in the third quarter. The report shows the New York metro area, South Florida and Los Angeles all showed double-digit declines.
Attom says 143,105 properties had foreclosure filings from July through September of…
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Foreclosure Starts Increase In 44 Percent Of U.S. Markets In July 2018
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Foreclosure Starts Increase In 44 Percent Of U.S. Markets In July 2018
IRVINE, Calif./ Aug. 21, 2018 (STL.News)– ATTOM Data Solutions, curator of the nation’s premier property database, today released its July 2018 U.S. Foreclosure Market Report, which shows that foreclosure starts increased from a year ago in 96 of the 219 metropolitan statistical areas (44 percent) analyzed in the report.
A total of 30,187 U.S. properties started the foreclosure process for the first time in July, up 1 percent from the previous month and up less than 1 percent from a year ago — the first year-over-year increase in foreclosure starts nationwide following 36 consecutive months of year-over-year decreases.
Twenty-one states posted a year-over-year increase in foreclosure starts in July, including Florida (up 35 percent); California (up 3 percent); Texas (up 7 percent); Illinois (up 7 percent); and Ohio (up 2 percent).
Metro areas posting year-over-year increases in foreclosure starts in July included Los Angeles, California (up 20 percent); Houston, Texas (up 76 percent); Philadelphia, Pennsylvania (up 10 percent); Miami, Florida (up 29 percent); and San Francisco, California (up 10 percent).
“The increase in foreclosure starts is not just a one-month anomaly in many local markets given that July represented the third consecutive month with a year-over-year increase in 33 metro areas, including Los Angeles, Miami, Houston, Detroit, San Diego and Austin,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “Gradually loosening lending standards over the past few years have introduced a modicum of risk back into the housing market, and that additional risk is resulting in rising foreclosure starts in a diverse set of markets across the country. Most susceptible to rising foreclosure starts are affordability-challenged markets where homebuyers are more financially stretched and markets with some type of trigger event such as a natural disaster or large-scale layoffs.”
Summer Foreclosure Heatwave Graphic
Atlantic City, Peoria, Fayetteville, North Carolina post top metro foreclosure rates
Nationwide, one in every 2,086 U.S. housing units had a foreclosure filing in July. States with the highest foreclosure rates in July were New Jersey (one in every 723 housing units with a foreclosure filing); Delaware (one in every 841); Maryland (one in every 1,038); Florida (one in every 1,180); and Illinois (one in every 1,277).
Among the 219 metropolitan statistical areas with at least 200,000 people, those with the highest foreclosure rates in July were Atlantic City, New Jersey (one in every 448 housing units with a foreclosure filing); Peoria, Illinois (one in every 622); Fayetteville, North Carolina (one in every 683); Trenton, New Jersey (one in every 703); and Philadelphia (one in every 851).
Report methodology
The ATTOM Data Solutions U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.
About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.
_____ SOURCE: https://www.prnewswire.com/news-releases/foreclosure-starts-increase-in-44-percent-of-us-markets-in-july-2018-300699900.html
U.S. Median Home Price Appreciation Decelerates In Q2 2018 To Slowest Pace In Two Years
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U.S. Median Home Price Appreciation Decelerates In Q2 2018 To Slowest Pace In Two Years
IRVINE, Calif./ July 26, 2018 (STL.News) — ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q2 2018 U.S. Home Sales Report, which shows that U.S. single family homes and condos sold for a median price of $255,000 in the second quarter, up 6.3 percent from a year ago to a new all-time high but the slowest annual appreciation since Q2 2016. “Annual home price appreciation nationwide has now slowed for five consecutive quarters following a post-election spike to double-digit appreciation in the first quarter of 2017,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Although home sellers are still in the driver’s seat of this housing market, moderating home price appreciation is good news for prospective homebuyers and signals that rising mortgage rates and other housing headwinds are cooling red-hot home price appreciation in some areas.” Historical U.S. Home Prices & Appreciation Annual home price appreciation slows in 66 percent of local markets
Annual home price appreciation in Q2 2018 decelerated from the previous quarter in 80 of the 122 metros (66 percent) analyzed for median home prices, including Los Angeles, Chicago, Dallas-Fort Worth, Houston and Philadelphia. Counter to the national trend, annual home price appreciation accelerated from the previous quarter in 42 of the 122 metros analyzed (34 percent), including New York, Washington, D.C., Boston, San Francisco and Detroit. Price-per-square foot appreciation accelerates for homes selling above $1 million
The median price per square foot for homes that sold for $1 million or more in the second quarter increased 5.4 percent from a year ago, accelerating from 3.2 percent annual appreciation in the previous quarter and from 3.4 percent annual appreciation in Q2 2017. The median price per square foot for homes that sold for under $1 million in the first quarter increased 6.5 percent from a year ago, but that was down from 8.2 percent annual appreciation in the previous quarter and down from 9.0 percent annual appreciation in Q2 2017. In 49 counties with at least 100 single family and condo sales above $1 million in Q2 2018, median price per square foot appreciation accelerated compared to a year ago in the above-$1 million category in 32 of those counties (65 percent), including Santa Clara County (San Jose), California; Orange County, California; King County (Seattle), Washington; Alameda County (San Francisco), California; and San Diego County, California. Median price per square foot appreciation decelerated compared to a year ago in the above-$1 million category in 17 of the 49 counties (35 percent) with at least 100 single family home and condo sales above $1 million in Q2 2018, including Los Angeles County, California; Miami-Dade County, Florida; Marin County (San Francisco area), California; Maricopa County (Phoenix), Arizona; and New York County (Manhattan), New York. $1 Million PPSF Historical Trends Fastest home price appreciation in San Jose, Flint, Seattle, Boise, San Francisco
Among 122 metropolitan statistical areas analyzed in the report, those with the biggest year-over-year increase in median prices were San Jose, California (up 25.0 percent); Flint, Michigan (up 23.7 percent); Seattle, Washington (up 14.3 percent); Boise, Idaho (up 14.3 percent); and San Francisco, California (up 14.2 percent). “Home prices in the greater Seattle region continue to grow at well above long-term averages for several reasons,” said Matthew Gardner, chief economist with Windermere Real Estate, covering the Seattle market. “Firstly, the area’s booming economy continues to add jobs, driving up demand for housing. Compounding this demand is a lack of new construction housing, which puts substantial upward pressure on home prices in the resale market. Housing affordability is unquestionably a major issue in Seattle; however, ironically enough, the many California buyers relocating to the Seattle area actually think our home prices are a bargain!” Q2 2018 Home Price Appreciation Heat Map Median home prices above pre-recession levels in 65 percent of markets
The U.S. median home price of $255,000 in Q2 2018 was 6 percent above the pre-recession peak of $241,648 in Q3 2005. Median home prices in 79 of the 122 metro areas analyzed for median home prices in the report (65 percent) were above their pre-recession peaks in Q2 2018, led by Houston, Texas (79 percent above); Dallas-Fort Worth (78 percent above); Greeley, Colorado (76 percent above); Denver, Colorado (75 percent above); and San Antonio, Texas (68 percent above). Median home prices in Q2 2018 were still below pre-recession peaks in 43 of the 122 metros analyzed for median home prices (35 percent), led by Atlantic City, New Jersey (36 percent below); York, Pennsylvania (34 percent below); Salisbury, Maryland (21 percent below); Naples, Florida (19 percent below); and Trenton, New Jersey (18 percent below). Average homeownership tenure increases to new all-time high of 8.09 years
Homeowners who sold in Q2 2018 had owned their homes for an average of 8.09 years, up from an average homeownership tenure of 7.91 years in Q1 2018 and up from an average homeownership tenure of 7.83 years in Q2 2017. Counter to the national trend, average homeownership tenure declined in 22 of 108 (20 percent) metropolitan statistical areas analyzed for homeownership tenure, including Sacramento, California; Nashville, Tennessee; Salt Lake City, Utah; Honolulu, Hawaii; and New Haven, Connecticut. Historical Average Homeownership Tenure Average home seller gains increase to highest level since Q3 2007
Homeowners who sold in Q2 2018 sold for an average of $58,000 more than their original purchase price, the highest average home seller price gain since Q3 2007. The $58,000 average home seller price gain in Q2 2018 represented an average 30.2 percent return on the original purchase price, up from an average 28.9 percent return in the first quarter but down from a recent peak of 30.8 percent in Q4 2017. Among 147 metropolitan statistical areas analyzed for average home seller gains, those with the highest average percentage gain were San Jose, California (116.6 percent); San Francisco, California (85.0 percent); Seattle, Washington (76.5 percent); Boston, Massachusetts (64.3 percent); and Portland, Oregon (62.1 percent). Distressed sales drop to an 11-year low
Distressed sales — sales of bank-owned homes, short sales, and sales to third-party investors at foreclosure auction — accounted for 11.9 percent of all single family home and condo sales in Q2 2018, down from 14.9 percent in the previous quarter and down from 13.5 percent in Q2 2017 to the lowest level since Q2 2007, an 11-year low. States with the highest share of distressed sales in Q2 2018 were New Jersey (23.9 percent), Delaware (22.5 percent), Rhode Island (18.6 percent), Connecticut (17.6 percent), and Illinois (17.3 percent). Among 148 metropolitan statistical areas analyzed for distressed sales, those with the highest share in Q2 2018 were Atlantic City, New Jersey (42.1 percent); Trenton, New Jersey (26.0 percent); Youngstown, Ohio (25.4 percent); Syracuse, New York (24.8 percent); and Hagerstown, Maryland (22.1 percent). Among 52 metro areas with a population of 1 million or more, those with the highest share of distressed sales in Q2 2018 were Baltimore, Maryland (20.7 percent); Philadelphia, Pennsylvania (20.2 percent); New York-Newark-Jersey City (20.0 percent); Cleveland, Ohio (19.0 percent); and Providence, Rhode Island (18.7 percent). Other report findings Sales to buyers using FHA loans — typically first-time homebuyers — accounted for 10.7 percent of all sales of single family homes and condos in Q2 2018, down from 11.9 percent in the previous quarter and down from 14.0 percent in Q2 2017 to the lowest level since Q1 2008 — a more than 10-year low. All-cash purchases accounted for 27.2 percent of all single family home and condo sales in Q2 2018, down from 28.8 percent in the previous quarter and down from 27.6 percent in Q2 2017 to the lowest level since Q3 2016. Sales to institutional investors (entities buying at least 10 properties in a calendar year) accounted for 2.0 percent of all single family home and condo sales in Q2 2018, up from 1.9 percent in the previous quarter but still down from 2.3 percent in Q2 2017. Report methodology
The ATTOM Data Solutions U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers, at the state and metropolitan statistical area. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available for those previous months. Median sales prices are calculated based on the sales price on the publicly recorded sales deed when available. If no sales price is recorded then the purchase loan amount is used to calculate median price, and if no purchase loan amount is available, the property’s Automated Valuation Model (AVM) at time of sale is used to calculate the median price. Definitions
All-cash purchases: sales where no loan is recorded at the time of sale and where ATTOM has coverage of loan data. Institutional investor purchases: residential property sales to non-lending entities that purchased at least 10 properties in a calendar year. REO sale: a sale of a property that occurs while the property is actively bank owned (REO). Third-party foreclosure auction sale: a sale of a property that occurs at the public foreclosure auction (trustee’s sale or sheriff’s sale) in which the property is sold to a third-party buyer and does not transfer back to the foreclosing bank. Short sale: a sale of a property where the sale price is less than (short) the combined amount of loans secured by the property. About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more. Media Contact:
Christine Stricker
949.748.8428
[email protected] Data and Report Licensing:
949.502.8313
_____ SOURCE: https://www.prnewswire.com/news-releases/us-median-home-price-appreciation-decelerates-in-q2-2018-to-slowest-pace-in-two-years-300686714.html
China's Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad
China’s Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad
The chives growing in one crypto tycoon’s California mansion carry a hidden message.
Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad.
In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot…
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How California Housing Stacks Up Split Into Three States
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How California Housing Stacks Up Split Into Three States
IRVINE, Calif./ July 18, 2018 (STL.News) — ATTOM Data Solutions, curator of the nation’s premier property database, today released an analysis showing what the three California housing markets would look like if the state is split into three new states per a proposal that has qualified for the state’s November ballot. For this analysis, ATTOM looked at home values, price appreciation, sales volume and property taxes along with flood risk and wildfire risk for nearly 7.5 million single family homes statewide, broken down by county into the three new proposed states — Northern California (40 counties); Southern California (12 counties); and California (6 counties). Proposed Northern California state with highest share of property tax revenue
Counties comprising the proposed Northern California state took in 41 percent of the current California’s property tax revenue on single family homes in 2017 while accounting for 38 percent of homes. Counties comprising the proposed California state took in 27 percent of the current California’s property tax revenue on single family homes in 2017 while accounting for 25 percent of the homes. Conversely, counties comprising the proposed Southern California state account for 37 percent of the current California’s single family homes but took in 32 percent of the total property tax revenue on those homes in 2017. View property tax and home value interactive visual Northern California outperforming in home price appreciation
Median home prices in the proposed Northern California state are up 120 percent since the bottom of the market in Q1 2009, while median home prices in the new Southern California are up 106 percent and median home prices in the new California are up 98 percent over the same period. The proposed Northern California state is also outperforming when it comes to home price appreciation over the past year — up 9 percent compared to 8 percent in the proposed California and 7 percent in the proposed Southern California — and the last five years — up 64 percent compared to 59 percent in the proposed California and 57 percent in the proposed Southern California. Southern California outperforming in home sales volume
First quarter 2018 home sales in the proposed Southern California state are up 59 percent compared to 10 years ago, in Q1 2008. That compares to a 52 percent increase in the proposed California state and a 35 percent increase in the proposed Northern California over the same period. Single family home sales in the proposed Southern California state also accounted for a disproportionately high share of home sales in Q1 2018 (42 percent) relative to its share of single family home inventory (37 percent). View home price appreciation and sales volume interactive visual Proposed California state with lowest share of flood and wildfire risk
Less than 1 percent (0.94 percent) of all single family homes in the proposed California state are in high-risk flood zones compared to 2.26 percent in the new Southern California and 3.72 percent in the new Northern California. Additionally, just over 2 percent (2.02 percent) of all single family homes in the proposed California state are in high-risk wildfire zones compared to 7.26 percent in the new Northern California and 9.38 percent in the new Southern California. “The proposed state of Northern California definitely bears a disproportionate share of real estate related flood risk, which makes sense given the terrain and the waterways present there,” said Clifford A. Lipscomb, vice chairman and co-managing director at Greenfield Advisors, a real estate research firm. “In contrast, the data show that the proposed state of Southern California bears the bulk of the risk when it comes to wildfires. The data suggest that Southern California has almost $30 billion more real estate exposure to wildfire risk than the proposed Northern California. California is in a distant third place for both types of risk in terms of real estate.” View flood and wildfire risk interactive visual Methodology
Home value data for this analysis was based on the ATTOMIZED Automated Valuation Model (AVM) developed by ATTOM Data Solutions and AVM Analytics and derived from public record sales deed and mortgage data. Median home prices, price appreciation and sales volume data used in this analysis were also derived from public record sales deed data collected by ATTOM from county recorders’ offices while property tax data was derived from county tax assessor data collected by ATTOM. Wildfire data used in the analysis is from the United States Department of Agriculture Forest Service and Fire Modeling Institute, and for this analysis ATTOM looked at the number and percentage of single family homes in each county located in “Very High” or “High” Wildfire Hazard Potential (WHP) areas. Flood zone data is based on flood zones created by the Federal Emergency Management Agency (FEMA), and for this analysis ATTOM looked at the number and percentage of single family homes in each county located in high-risk flood zones: A, A99, AE, AH, A, V and VE. About ATTOM Data Solutions
ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more. Media Contact:
Christine Stricker
949.748.8428
[email protected] Data and Report Licensing:
949.502.8313
_____ SOURCE: https://www.prnewswire.com/news-releases/how-california-housing-stacks-up-split-into-three-states-300682694.html
Could ‘granny flats’ be the solution to America’s affordable-housing crisis?
Originally published on Marketwatch.com on March 26, 2018 By Jacob Passy
In-law suites, granny flats, accessory dwelling units — whatever you call them, developers and housing economists say these units could be a cure to the inventory shortage in real-estate markets nationwide. That is, if homeowners actually show interest.
Accessory dwelling units are secondary units built on or into…
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Could ‘granny flats’ be the solution to America’s affordable-housing crisis?
Originally published on Marketwatch.com on March 26, 2018 By Jacob Passy
In-law suites, granny flats, accessory dwelling units — whatever you call them, developers and housing economists say these units could be a cure to the inventory shortage in real-estate markets nationwide. That is, if homeowners actually show interest.
Accessory dwelling units are secondary units built on or into…
View On WordPress
