Mortgages

Foreclosure Flood Concentrated in Specific Cities & Neighborhoods, Pro Teck Reports

Foreclosure flood is concentrated in specific neighborhoods and cities in the U.S., this according to the September home value forecast report of Pro Teck Valuation Services. Pro Teck, said in a statement, “With regard to this foreclosure inventory, there is a misperception that it is a problem for the entire market. In fact, it is …

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10% of U.S. August Home Sales were Short Sales

Ten percent of the total 4.82 million existing homes sold in August this year were short sales, this according to the latest National Association of Realtors (NAR) report. According to NAR, short sales sold for an average discount of 13% in August 2012. The nationwide median price of existing homes including single-family homes, condominiums, townhomes …

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