A New York e' finita la crisi immobiliare..

[Nemor]

http://video.corriere.it/?vxSiteId=4...&vxBitrate=300

[housecrash]

Non è finita, ma sta finendo .... male

[housecrash]

High-End Homes Frozen Out of Budding Housing Rebound

The bigger they are, the slower they sell

Il pregio ci salverà (cit.)

[dizar]

Confortante vedere che negli Usa si inizia a ripensare al concetto di proprietà !
Una volta erano idee strampalate di figli dei fiori, ora è necessità !
Neosocialismo, decrescita felice, impronta ecologica, banche etiche ! La società cambia sempre, è un continuo divenire, si spera cambi un pò in meglio

[Lou Cypher]

» 2009-08-12 13:53
Usa, mutui settimanali - 3, 5%
L'indice scende da quota 517, 3 a 499, in calo rifinanziamenti

(ANSA) - ROMA, 12 AGO - Le domande di mutui ipotecari negli Usa sono scese la scorsa settimana del 3,5%: l'indice della Mortgage Bankers' Association cala a 499.La settimana precedente segnava infatti quota 517,3.Lo riferisce l'agenzia Bloomberg, precisando che il peggioramento dell'indice e' frutto soprattutto del rallentamento delle richieste di rifinanziamento di mutui gia' esistenti (-7,2%), mentre le domande di nuovi mutui per acquisto di abitazioni hanno registrato un incremento dello 1,1%.

[housecrash]

Usa: record pignoramenti a luglio
In secondo trimestre calo valore case - 15, 6%
(ANSA) - ROMA, 13 AGO -Altri record storici di pignoramenti immobiliari Usa: 360.149 persone sono state dichiarate a luglio insolventi o si son visti pignorare casa.E una famiglia americana su 355 ha ricevuto un'ingiunzione di sfratto. Lo rileva l'apposita agenzia governativa. L'aumento dei pignoramenti trascina al ribasso i prezzi immobiliare. Nel secondo trimestre il prezzo medio di una casa e' crollato del 15,6% a 174.100 dollari, il livello piu' basso dal 1979.

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"Stiamo finalmente vedendo la luce in fondo al tunnel" (cit.)

[housecrash]

Half of US Homeowners Will Be Underwater by 2011

Last week, Deutsche Bank analyst Karen Weaver published a report that shook up the "housing is recovering" crowd. She predicted that, by next year, nearly half of American homeowners with mortgages will be underwater.

Before we go into the details, here's a basic refresher on the US housing market:

* There are approximately 110 million households in the U.S.
* About 75.5 million of these are homeowners. (--> 70% )
* Approximately 68% of the 76 million, or 51.6 million, have mortgages.
* 14 million U.S. homeowners, 27% of those with mortgages, were underwater at the end of Q1 (DB estimates)
* DB estimates that nearly half of the 52 million mortgagors will be underwater by the end of next year.

(Note that this is half of those with mortgages, not half of all households)

DB's estimates are based on city-level projections of where house prices will bottom. DB made these projections before the startlingly good Case Shiller numbers last month. If the Case Shiller numbers herald a recovery, as many bulls suggest, then DB's "underwater" forecasts may be too aggressive.

On the other hand, if the June Case Shiller numbers were just a head-fake, as we and other analysts suspect, then DB's estimates will probably be right on the money.

[housecrash]

Silicon Valley home price declines may spread to higher-end areas



The upscale enclaves of Santa Clara County could be next in a wave of price declines that has lopped 16.6 percent from the value of the region's single-family homes in 12 months.

In its latest snapshot of the housing market, Zillow.com reported Monday that home prices in the second quarter of the year continued to decline in nearly every part of the county, with steeper drops generally at the lower end.

Up to now, affluent areas of Santa Clara County have bucked the extreme price drops that sent home values down steeply in cities like San Jose. But foreclosures are beginning to "move up" to the middle of the market to homeowners with prime or so-called "Alt-A" loans made to creditworthy borrowers.

"Affluent homeowners are able to ride out the downturn better than the less affluent," said Zillow's chief economist, Stan Humphries, "but they are not able to ride out downturns forever. At some point, everything catches up with them."

Several trends are putting more pressure on home prices in the middle- and higher-priced areas, Humphries said: the rising number of foreclosures in loans that were made to people with good credit; the waves of layoffs in the valley as the recession grinds on; and the impact of "negative equity," in which homeowners owe more on their home than it is worth, spreading to the higher end.

For the second quarter, the 16.6 percent decline in home values masked wide variations.

Sunnyvale single-family homes lost 14.1 percent of their value over the past year; Campbell lost 13.4 percent while Mountain View was down 11.4 percent.

But home values in Palo Alto were off only 3.6 percent for the year, and Los Altos Hills showed a slight gain.

Los Altos, Cupertino and Saratoga saw an erosion in home values of about 10 percent, about half San Jose's one-year price decline.

Sally Anderson, an Alain Pinel agent who lives in Los Altos, said she thinks prime properties on the west side of the county will hold their own from now on, neither appreciating nor depreciating. "But who knows? You used to be able to predict — stay in your house another six months and get 10 percent more. Now, you could get 10 percent more or 20 percent less."

Los Gatos is down 16.6 percent for the year, but the town is a mix of less expensive homes that are selling and large, costly homes that aren't.

"Our high-end market has not kicked in yet," said Jeff Barnett, regional manager in Alain Pinel's Los Gatos office. "It skews the median price. Palo Alto and Menlo Park — their high-end markets kicked in about three months ago." Barnett said the more affordable parts of Los Gatos aren't showing steep declines.

But a price drop is in store for the more expensive homes there, Barnett agreed, though he can't predict how much. "The few sales we're seeing the prices come down a bit, but there are not enough sales to get a handle on it," Barnett said.

Zillow relies on publicly available data on home sales and property characteristics and uses a proprietary formula to calculate home values.

Among other findings, it reported that:

# In the past year, the county's total housing stock has lost a staggering $56.8 billion in value and $76.4 billion since the market peaked in 2007, but the pace of decline is slowing. Nevertheless, Zillow said further year-over-year declines are likely.

# More than a fifth of all single-family homes in Santa Clara County are in a condition of negative equity, according to Zillow. And nearly a third of all homes sold in the county in June went for less than the original purchase price.

# Home sales were up for all types of homes, including condos, in June by 12.1 percent compared with a year ago, and were up 20 percent from May to June, Zillow said. But a third of sales were of homes that had been foreclosed on by banks.

[housecrash]

Record number of foreclosures scheduled for sale

The number of properties scheduled for foreclosure sale – new Notices of Trustee Sale minus those sales that have cancelled or sold – rose to a record level of 124,874 in July, nearly double the levels reached during the foreclosure peak last year, according to a report by ForeclosureRadar Inc., a Discovery Bay-based foreclosure information company.

Overall, foreclosure stats were mixed, with Notice of Default filings flat, Notice of Trustee Sale filings rising by 31.6 percent and foreclosure sales dropping 22.7 percent.

Again this month, Merced County leads the state in the rate of foreclosures with 281 sales in July or one for every 908 residents. But Merced’s foreclosure sales total is down by a third from June and down by 53 percent from July of last year.

Half of the state’s Top Ten counties for rates of foreclosure sales are in the Central Valley.

In third place is Yuba County with one foreclosure sale for every 972 residents.

Stanislaus County ranks fourth in the state with one sale for every 1,054 residents.

San Joaquin County, with 619 homes sold at foreclosure auction in July, ranks sixth with one for every 1,108 residents.

Madera County placed tenth in July with one sale for every 1,227 residents.

Statewide high-level findings for July 2009 include:

• Filings of new Notices of Default were little changed from June at 44,996 filings, a 1.5 percent decrease. Year-over-year filings rose by 11.9 percent from July 2008.

• Notice of Trustee Sale filings bounced back after dropping in June to 39,294 -- a 31.6 percent increase over the prior month, and a 0.7 percent increase over the prior year.

The California Foreclosure Prevention Act, which adds 90 days prior to the filing of the Notice of Trustee Sale for lenders that do not have a comprehensive loan modification plan in place, had only a fleeting impact last month with Notice of Trustee Sale filings hitting their second highest level on record in July, just two weeks after the law took affect, says ForeclosureRadar.

• After increasing for three consecutive months, foreclosure auction sales dropped by 22.7 percent to a total of 17,239, with a combined loan value of $8.08 billion dollars. Year-over-year sales dropped a substantial 40.1 percent, with July 2008 having the highest level of foreclosure sales on record at 28,795.

Opening bids set by lenders were an average of 39.1 percent lower than the loan balance, with 45 percent of sales discounted by 50 percent or more.

• Sales to third party bidders were flat from June, with 2,683 foreclosures sold to investors, or in increasingly rare instances, junior lenders. As a percentage of total sales, sales to third parties continued to increase although lenders still took back 84.4 percent of foreclosures at auction, representing 14,555 loans, with a total of $6.93 billion dollars in loan value.

• Foreclosures scheduled for sale rose to 124,874, a 10.4 percent increase from the prior month, and a 93.3 percent increase year-over-year from July 2008. The year-over-year increase is significant given that foreclosure sales in July 2008 set a record that has not again been reached, says ForeclosureRadar.

The increase appears to be primarily due to the fact that lenders are willingly postponing

foreclosure sales.

• The new “Home Affordable” loan modification plans now include a three-month trial. “It is our understanding that foreclosures are not cancelled until the completion of this trial period. As such, we believe monitoring the cancellation of scheduled foreclosures should provide some insight into the effectiveness of this program, as successful trials should result in cancelled foreclosures,” the report says.

“We had a record number of cancellations in July at 10,789, a 24.8 percent increase over the prior month and an 86.3 percent increase year-over-year. It should be noted, however, that as a percentage of the foreclosures actively scheduled for sale, there was little change from prior months. It appears that the significant increase is primarily due to the high number of foreclosures that are scheduled for sale, but postponing rather than selling.”

“Despite the failure of the California Foreclosure Prevention Act to slow Notice of Trustee Sale filings it is clear that lenders and servicers are delaying foreclosure” says Sean O’Toole, founder and CEO of ForeclosureRadar. “More homeowners are now sitting at the brink of foreclosure, just days away from the next scheduled auction date, then ever before, yet we simply aren’t seeing the wave of foreclosures many predicted.”

Political pressure, financial incentives and the postponement of sales awaiting the completion of loan modification trial periods are likely reasons for the delays. The vast majority of foreclosures, 72 percent, are postponing either due to lenders request, or mutual agreement between the lender and borrower.

Only 10 percent are being postponed due to bankruptcy. With few exceptions the remainder have not yet been postponed and are scheduled for their first sale date, the report says.

The average California foreclosure has a total loan balance of $425,134 on a home that is now worth $236,739. While negative equity is a prerequisite for the vast majority of foreclosures in California, the degree of negative equity varies a great deal by location.

Foreclosures in Santa Cruz County had loan balances just 110 percent of the current estimated value, while foreclosures in Merced County had loan balances an average 283 percent higher than the estimated value. The Bay Area counties of Santa Cruz, San Francisco, Marin, San Mateo were among the least underwater.

Inland counties including Merced, San Joaquin, Stanislaus, Solano, Sacramento, San Bernardino, and Riverside were among the most underwater.

[housecrash]

Come potete ben vedere "il peggio è alle spalle".

Sì, proprio alle spalle: non ve ne siete ancora accorti?