Real Estate

Housing Prices and Construction Spending down in October

Housing Prices and Construction Spending down in October

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[Best Syndication] New construction projects have dropped by 0.8% this past October. The month before there was a gain by 0.2% which was corrected from previous estimates that were reported at 0.3%. When looking by the year to year comparison the construction spending is lowered by 0.6%.

The S&P/Case-Shiller® Home Price Indices report released this week showed that the home price index were down by 4.5% during the third quarter.

The National Association of Realtors (NAR) report that the housing market are being forecasted to have a modest recovery in 2008. Lawrence Yun, NAR chief economist, explained this at the NAR expo that was held this month in Las Vegas.

Foreclosures are on the Rise – California has most Filings for Metropolitan Areas in Nation

Foreclosures are on the Rise – California has most Filings for Metropolitan Areas in Nation

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[Best Syndication] Foreclosures are continuing to climb. RealtyTrac released their Metropolitan Foreclosure Market Report and ranked Stockton California, Detroit/Livonia/Dearborn, Michigan, and Riverside/San Bernardino, California the top three metropolitan areas that have the most foreclosures.

In Stockton, California there is one foreclosure filing for every 31 households. The Detroit and surrounding areas in Michigan there is one filing for every 33 homes. In Riverside and San Bernardino areas in California there is one foreclosure filing for every 43 households.

The report further says that California, Ohio and Florida are the hardest hit with more than two-thirds of the top 25 metro foreclosure rates.

Foreclosure Crisis Claims Family Pets, Animal Shelters Overflow

Foreclosure Crisis Claims Family Pets, Animal Shelters Overflow

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According to recent news reports, in areas of the nation where the foreclosure crisis is hitting hard, local animal shelters are seeing a sharp increase in the number of owners surrendering family pets, many citing the loss of their home as their reason. One news report quoted an official at the Escondido Humane Society, located in California, a state hard hit by the recent mortgage industry turmoil, as saying that the organization receives between 20 and 30 calls per day from people who are losing their homes to foreclosure and have no place for their pets.

While, for some, losing the family pets may seem like the least of worries in a potential foreclosure situation, that is simply not the case for families with children who've grown up with the pets or for many elderly people, for whom these pets are near constant companions. Facing the loss of pets is akin to the heartbreak of losing family members, which is exactly what their pets are to them.

Florida Foreclosure Proceedings Detailed

Florida Foreclosure Proceedings Detailed

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The following article details the final court proceedings for foreclosure cases in the state of Florida. The article details the different scenarios that can occur to finalize a foreclosure case. It is important for people facing foreclosure in the state of Florida to be aware of their rights so that they can do everyhthing in their power to stop foreclosure through legal remedies.

The right to be heard at the hearing to show cause is waived if the defendant, after being served as provided by law with an order to show cause, engages in conduct that clearly shows that the defendant has relinquished the right to be heard on that order. The defendant's failure to file defenses by a motion or by a sworn or verified answer or to appear at the hearing presumptively constitutes conduct that clearly shows that the defendant has relinquished the right to be heard.

Housing market Still Slow – Lowest rates For New Home Construction since 1995

Housing market Still Slow – Lowest rates For New Home Construction since 1995

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[Best Syndication] Interest rates have dropped by .5 percent, but it will take some time for the housing economy to revamp. The Government released data this Wednesday that shows a slowed economy with controllable inflation levels.

The Commerce Department report showed that there was a decline in housing starts and permits for new construction last month. Housing starts are considered homes that already began construction. It has reached a new low level that was last seen in June 1995. The starts showed a decline of 2.6% this past August. Building permits also lagged behind with a reduction by 5.9% in August. It too is also the lowest it has been since 1995.

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