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BUSINESS
March 13, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Seven Philadelphia-area "hipster" zip codes - five in the city, and Ardmore and Upper Darby - are among the top 30 nationally for profitable home flipping, says RealtyTrac, the Irvine, Calif., foreclosure search engine. RealtyTrac analyzed single-family homes and condos flipped (sold twice within a 12-month period) in 2015 in more than 15,000 zip codes nationwide and identified the top 30 so-called "hipster" zip codes for flipping. Flips in most of these local zip codes account for relatively few of the total home sales in 2015 - 3.3 percent in Upper Darby to 12.9 percent in 19146, comprising Southwest Center City and Point Breeze.
BUSINESS
May 21, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
The number of U.S. houses left vacant because of foreclosure was down at the start of the second quarter compared with the same period last year. But New Jersey's share of these "zombies" continues to be tops in the nation, real estate information provider RealtyTrac said Thursday. Zombie homes are defined as houses that mortgage borrowers vacated for which the foreclosure process was never completed. In the United States overall, just 19,187, or 4.7 percent, of residential properties in the foreclosure process were zombies as of May, according to the Irvine, Calif., company, which monitors foreclosures nationwide.
NEWS
April 23, 2013 | By Maddie Hanna, Inquirer Staff Writer
Whenever John Aponik cuts the grass, bits of blue tarp get caught in the blades of his lawn mower. Around Christmas, "it gets in all the wreaths," Aponik said of the tarp that has been shredding off the house next door to his on Glen Lane in Cherry Hill, where a renovation project was abandoned four years ago. No one has lived in the house since then, Aponik said, although it isn't exactly vacant. "Raccoons, possums - cats were breeding out there," Aponik said, who has set traps lent to him by a neighbor.
NEWS
February 11, 2010
Foreclosure filings in January fell almost 10 percent nationally from December, but were still 15 percent higher than January 2009, RealtyTrac of Irvine, Calif., reported today. Nevada, Arizona, California and Florida remained the top foreclosure states; Pennsylvania was 34th of 50, while New Jersey was 16th. "January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January," said James J. Saccacio, RealtyTrac's chief executive officer.
BUSINESS
May 28, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Homeownership is more profitable for men than for women, a study released Thursday by the real estate search engine RealtyTrac maintains. Analyzing 2.1 million single-family homes nationwide, RealtyTrac found that homes owned by single men on average are worth 10 percent more and have appreciated $10,112 (16 percent) more since purchase than those owned by single women. Single male homeowners accounted for 1.14 million of the total, and single women for 1.01 million, based on public record tax assessor data collected by RealtyTrac.
REAL_ESTATE
July 28, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
I thought I would weigh in one more time on "zombie" houses, subject of an article I wrote for the July 6 Inquirer's news pages. According to RealtyTrac, the real estate search engine, in the Philadelphia region there are 6,101 of these so-called zombies - houses on which the foreclosure process was begun but never completed, yet they were vacated by the homeowners early on. RealtyTrac defines the region as the city; the four suburban Pennsylvania...
NEWS
July 7, 2014 | By Alan J. Heavens, Inquirer Real Estate Writer
Residential real estate has its own version of the 1968 cult classic Night of the Living Dead.   Call it Zombie Foreclosures . RealtyTrac, a search engine that collects real estate data nationwide, defines the phenomenon this way: "properties that have started the foreclosure process but have never been foreclosed and the homeowner has vacated. " One in five U.S. homes in foreclosure, or 141,406, are zombies, it says. Andrew Frank, of Long & Foster Real Estate in Blue Bell, said he's been told many zombies rose from the "robo-signing" era of 2008 through 2010, when some mortgage servicers failed to read foreclosure documents before submitting them to courts or other agencies for action.
NEWS
August 26, 2011 | BY ASSOCIATED PRESS
WASHINGTON - Foreclosures made up roughly one-third of all home sales this spring. While that's a smaller share of sales from the previous quarter, it's six times the percentage of foreclosures in a healthy housing market. Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter, foreclosure listing firm RealtyTrac Inc. said yesterday. The share of the market would likely have been larger this spring if not for a state and federal investigation into faulty paperwork by banks and servicers.
NEWS
March 12, 2009 | By Alan J. Heavens, INQUIRER REAL ESTATE WRITER
Foreclosure filings in February rose 6 percent nationally from January and were 30 percent above February 2008, RealtyTrac Inc. reported today. Pennsylvania saw an increase in filings of 73.9 percent from February 2008, but RealtyTrac spokesman Daren Blomquist attributed the increase to better data collection in counties in central and Western Pennsylvania in March and April. Pennsylvania's total filings, 4,192, kept it in 31st place among the 50 states, or one foreclosure for every 1,307 properties.
BUSINESS
March 26, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Houses in the Philadelphia region generally remain affordable for buyers, foreclosure search engine RealtyTrac reported Thursday. In fact, just 43 of 456 U.S. counties analyzed by RealtyTrac exceeded their normal historic affordability levels in the first quarter of 2016. In the same three months of 2015, 10 counties of the 456 exceeded normal affordability levels, the report said. A decade ago, at the peak of the housing bubble in second quarter 2006, 454 of the 456 counties analyzed were less affordable than their historic norms.
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ARTICLES BY DATE
BUSINESS
May 28, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Homeownership is more profitable for men than for women, a study released Thursday by the real estate search engine RealtyTrac maintains. Analyzing 2.1 million single-family homes nationwide, RealtyTrac found that homes owned by single men on average are worth 10 percent more and have appreciated $10,112 (16 percent) more since purchase than those owned by single women. Single male homeowners accounted for 1.14 million of the total, and single women for 1.01 million, based on public record tax assessor data collected by RealtyTrac.
BUSINESS
May 21, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
The number of U.S. houses left vacant because of foreclosure was down at the start of the second quarter compared with the same period last year. But New Jersey's share of these "zombies" continues to be tops in the nation, real estate information provider RealtyTrac said Thursday. Zombie homes are defined as houses that mortgage borrowers vacated for which the foreclosure process was never completed. In the United States overall, just 19,187, or 4.7 percent, of residential properties in the foreclosure process were zombies as of May, according to the Irvine, Calif., company, which monitors foreclosures nationwide.
BUSINESS
March 26, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Houses in the Philadelphia region generally remain affordable for buyers, foreclosure search engine RealtyTrac reported Thursday. In fact, just 43 of 456 U.S. counties analyzed by RealtyTrac exceeded their normal historic affordability levels in the first quarter of 2016. In the same three months of 2015, 10 counties of the 456 exceeded normal affordability levels, the report said. A decade ago, at the peak of the housing bubble in second quarter 2006, 454 of the 456 counties analyzed were less affordable than their historic norms.
REAL_ESTATE
March 20, 2016 | By Alan J. Heavens, Staff Writer
I didn't think it could happen so soon, but I've again reached a point where I have more information than columns in which to put them. First off, almost 46 percent of all homeowners expect their home equity to increase this year. About 85 percent of those homeowners say their equity will increase by 10 percent, LoanDepot L.L.C. reported, even though more than 100 U.S. housing experts forecast that home values will reach an average annual growth rate of 3.65 percent through the end of 2016.
BUSINESS
March 13, 2016 | By Alan J. Heavens, REAL ESTATE WRITER
Seven Philadelphia-area "hipster" zip codes - five in the city, and Ardmore and Upper Darby - are among the top 30 nationally for profitable home flipping, says RealtyTrac, the Irvine, Calif., foreclosure search engine. RealtyTrac analyzed single-family homes and condos flipped (sold twice within a 12-month period) in 2015 in more than 15,000 zip codes nationwide and identified the top 30 so-called "hipster" zip codes for flipping. Flips in most of these local zip codes account for relatively few of the total home sales in 2015 - 3.3 percent in Upper Darby to 12.9 percent in 19146, comprising Southwest Center City and Point Breeze.
REAL_ESTATE
January 25, 2016 | By Alan J. Heavens, Inquirer Real Estate Writer
Can you be a Monday morning quarterback on a Sunday morning? If not, let me say that we are still on cleanup duty for the real estate market of 2016. We'll start with the worst: foreclosures. As of November, the number of started foreclosures reached its lowest level in 10 years. Filings - default notices, scheduled auctions and bank repossessions - were reported on 104,111 U.S. properties in November, a drop of nearly 10 percent from the previous month and down more than 7 percent from 2014.
BUSINESS
October 15, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
The number of U.S. houses left vacant because of foreclosure fell 43 percent in the third quarter compared with the same period last year, yet New Jersey's share of these so-called zombies keeps it at the top of a national list. RealtyTrac, an Irvine, Calif., real estate information company that monitors foreclosures, reports that the number of these zombies - houses vacated by their owners at the start of foreclosures that were never completed - rose 29 percent in New Jersey year-over-year in the third quarter.
BUSINESS
July 31, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
The number of U.S. homes worth less than what is owed on their mortgages dropped in the second quarter, another positive sign that the national housing market is shaking off the effects of the prolonged downturn. RealtyTrac, an Irvine, Calif.-based real estate information company that monitors foreclosures, reported Thursday that the percentage of so-called seriously underwater properties fell to 13.3 percent of all U.S. homes with mortgages in the quarter, or 7.44 million. "Seriously underwater" is defined by RealtyTrac as those houses for which the combined loan amount secured by a property is at least 25 percent higher than the property's estimated market value.
REAL_ESTATE
June 7, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
A couple of studies have crossed my electronic desk, and I thought I'd share them with you, because both relate to topics I have written about in recent weeks. The first is a Cornell University analysis, published in an article in the June issue of the American Sociological Review, contending that foreclosures "fueled racial segregation in the United States. " The paper, co-authored by Kyle Crowder of the University of Washington and Amy Spring of Georgia State University, acknowledges that nine million American families have lost their homes to foreclosure since the real estate downturn started in 2007.
NEWS
January 16, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
Foreclosure filings nationwide last year fell to their lowest level since 2006 and were down by more than a million properties from 2010's recession-aftermath peak of roughly 2.87 million. RealtyTrac, an Irvine, Calif., housing data and analytics provider that tracks filings across the United States, reported Thursday that last year's 1,117,426 total filings, while down considerably from that peak, still represented an increase of 400,000 since the housing boom of the last decade began to go bust.
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