Shaping the Future of Law: Legalweek 2023 recap and analysis
ABA Journal Daily News
ABA Journal Daily News
After years of on-and-off discussions, City Council has enacted requirements on foreclosure bonds for vacant residential and commercial properties. The companion pieces of legislation were passed unanimously on Oct. 3, requiring that $ 15,000 cash bonds be set aside once a property has been vacant for 60 days. Foreclosure News
Active inventory reached a record low for February, dropping 17.9 percent year-over-year. Average days on market dropped from 75 in February 2016 to 68 in February 2017. Foreclosure News
As anniversaries go, it's not much of one to celebrate, but this year the foreclosure crisis marks its tenth year. Since Mid-2007, more than 7.8 million homes have been foreclosed according to a new retrospective, published by CoreLogic, on the ten-year rise and fall of the cycle. Foreclosure News
In the 53 metro areas surveyed, total sales were up 4.5 percent over January 2016, which was previously the January with the most sales. The median sales price of $ 208,500 was up 4.3 percent and marked the 10th consecutive month of year-over-year price increases. Foreclosure News
This is down 14 percent from 2015 to the lowest level since 2006, when there were 717,522 U.S. properties with foreclosure filings. The report also shows that 0.70 percent of all U.S. housing units had at least one foreclosure filing in 2016, the lowest annual foreclosure rate nationwide since 2006. Foreclosure News
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000, 4.7 percent below the revised October rate of 1,260,000 and 6.6 percent below the November 2015 estimate of 1,286,000. Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, 18.7 percent below the […]
The 30-year fixed-rate mortgage averaged 3.47 percent with an average 0.6 point for the week ending October 27, 2016. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.61 percent for loans closed in late September, up 3 basis points from 3.58 percent in August. Foreclosure […]
ABA Journal Daily News
That's 3.5 percent higher than the May 2016 estimate and 25.4 percent above the June 2015 estimate of 472,000. June's first-time foreclosure starts were at 69,300 – the lowest starts reported in 16 years. Foreclosure News