The Most Expensive Homes to Recently Come onto the Market
Sally Kuchar | Curbed SF | December 3, 2013 | link
Every week we comb through the real estate listings to bring you the ten least expensive pieces of residential real estate in a single neighborhood. This week we’re switching it up a bit, and instead showing you the ten most expensive properties to hit the market in the past seven days. This map does not include multi-unit buildings—only single-family homes and condos are shown. Of the 55 properties that hit the market recently, the tenth most expensive is a TIC in Noe Valley that’s asking $1.3M. At $5.5M, the most expensive is a 2-bedroom at Millennium Tower in Yerba Buena.
52 Million Mortgages, Fewer Delinquencies, Higher Credit Scores
Jann Swanson | Mortgage News Daily | Nov 12 2013 | link
The national mortgage delinquency rate was down by nearly a quarter in the June-September period compared to the third quarter of 2012, marking the seventh straight quarter in which mortgage delinquencies declined. TransUnion said today that delinquencies of 60 days or more were down 23.3 percent since the third quarter of 2012 to a national rate of 4.09 percent. The rate in third quarter of 2012 was 5.33 percent and it was 4.32 in the second quarter of 2013.
The improvement was indeed national with every state and the District of Columbia seeing a drop in its rate on an annual basis. Five states — California, Arizona, Nevada, Colorado and Utah — experienced 30%+ declines in their mortgage delinquency rate. Three states — California, Florida and Nevada — had double-digit percentage drops in the last quarter. None-the-less both Florida and Nevada continue to have rates well above the national average at 9.11 percent and 7.28 percent respectively.
“This isn’t a sample data set,” said Tim Martin, group vice president of U.S Housing for TransUnion’s financial services business unit. “We looked at all 52 million installment-based mortgages in the U.S. and the trend is clear — the percentage of borrowers willing and able to make their mortgage payments continues to improve. The overall delinquency rate is still high relative to ‘normal,’ but a 23% year over year improvement is great news for homeowners and their lenders.”
The company expects that the downward trend in delinquencies will continue for the remainder of the year. While the forecast could change if there are unanticipated shocks affecting unemployment, real estate values, income or other economic factors, TransUnion is projecting the delinquency rate will be just under 4 percent by the end of 2013.