Home Foreclosures in Indianapolis Failed to Push Up Sales

Home foreclosures in Indianapolis failed to push up total house sales in the metro area in January this year despite their attractive prices, based on a sales report released by the Indiana Association of Realtors. Total residential sales in the eight-county metro area plunged to only 900 units, a sharp plunge of 18.4 percent from 1,103 units in January 2009. All the counties in the metro area posted drops in home sales. Similarly, Indiana home foreclosures failed to drive up total sales despite the availability of affordable homes, but the rate of sales decrease was smaller than in the metro area. A total of 2,735 existing homes were sold statewide, a drop of 1.4 percent from the 2,774 pre-owned units sold in January 2009. Nevertheless, despite the drop in sales, real estate professionals were encouraged by the spike in home prices statewide. According to them, the slowdown in the flow of residential property to foreclosures in January may have pushed up home prices. The sales price…
Source: www.realestateinvestor.com

Home Foreclosures in Fort Lauderdale Up in Part Due to Fraud
Home foreclosures in Fort Lauderdale increased to record levels over the past years in part because of fraudulent mortgage loans, based on reports from government lawyers and from the Financial Crimes Enforcement Network. According to the FinCEN report, the Fort Lauderdale-Miami metro area has the highest number of suspects who carried out mortgage fraud since 2007. Additionally, Florida has the second-highest number of suspicious mortgage activity reports in the country, behind only California. Despite a slowdown in Florida home foreclosures in January this year, the total number of households affected was still high and Florida was still among the four most foreclosure-battered states in the country. Over 47,000 homeowners received distressed notices in January and 6,169 of them have already seen their properties turn into real estate foreclosure homes. Recently, the federal Financial Fraud Enforcement Task Force, which was created by President Barack Obama in November, held a…
Source: www.realestateinvestor.com

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