Green Real Estate Appraiser

The pace of annual home price appreciation in San Diego County neared a three-year low in May, as the housing market moves into what is traditionally peak homebuying season.

Last month, the median price for a home sold in the county was $459,000, up 3.1 percent from May 2014, real-estate tracker CoreLogic reported Wednesday. That’s the slowest pace since prices rose 1.7 percent annually in June 2012, preceding a run up of fix-and-flip foreclosure resales that pushed appreciation up to 24.1 percent annually in June 2013.

Since then, the supply of foreclosure resales has waned and the market has returned to being paced by traditional factors like wages, employment and supply. Mark Goldman, a loan officer and real-estate lecturer at San Diego State University, said a 3.1 percent rate of appreciation is sustainable.

read more at: http://www.utsandiego.com/news/2015/jun/17/corelogic-real-estate-may-home-sales-mortgage/

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The number of delinquent mortgages continues to fall, but the foreclosure crisis is still taking its toll on hundreds of thousands of borrowers.

Of the approximately 952,000 borrowers who are 90 or more days past due on their monthly payments, but not yet in foreclosure, 62 percent have already been through some form of home retention program, according to Black Knight Financial Services (BKFS). They are, it seems, beyond help. Home retention programs were established by lenders and the government to work with borrowers to enable them to keep their homes.

“The percentages do look significant,” said Ben Graboske, senior vice president of Black Knight’s data and analytics unit. He pointed to trends in the government’s modification program, which has given borrowers less relief of late.

In 2010, homeowners on average could have received a $530 monthly payment reduction. That has dropped to the $450 range today. Graboske said that it is a major reason you are not seeing better performance for these homeowners today.

read more at: http://www.cnbc.com/id/102741611

Disclaimer: for information and entertainment purposes only