HousingPulse Distressed Property Index Slips in February
HousingPulse Distressed Property Index Slips in February
HousingPulse Distressed Property Index Slips in February
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March 22, 2011 (Jeff Alan)
mortgage-dipsign-image
Distressed property home purchase transactions dipped in the month of February to 47.3 percent from 49.6 percent in January according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, but it was not likely the result of a healing housing market.

The report blames the dip on a nationwide delay in the listing and sale of distressed properties as mortgage servicers continued to deal with the fallout from title and paperwork issues.

The survey reveals that the number of move-in ready properties declined to 15.4 percent in February compared to 17.5 percent in January.

The number of cash transactions set a survey record as 33.7 percent of purchases in February were cash. The increase in cash transactions parallels the rise in investor activity as investors scooped up 23.5 percent of home purchases in February, up from 19.9 percent in only two months.

“We are seeing investors come back into the market. One investor told me that one house he wanted came on Wednesday PM and had 9 offers by Thursday AM,” stated an agent in New Jersey. “There are a number of investors and businesses buying up the short sale and REO properties and renovating them and then selling them as traditional sales,” reported an agent from Arizona.

The report says that as an indicator that sales may be slipping at a time of the year they should be increasing, they noted that average transactions per real estate agent dropped to 1.7 in February versus 2.1 in January.

Traditionally transactions per real estate agent rise from January to February as the spring selling season begins but the decline may signal a slow start to this year’s spring selling season.

The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey involves more than 3,000 real estate agents nationwide each month and provides up-to-date intelligence on home sales and mortgage usage patterns.

Tags: distressed property, home purchase transactions, mortgage servicers, cash transactions, move-in ready, investors, spring selling season

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March 22, 2011 (Jeff Alan)
mortgage-dipsign-image
Distressed property home purchase transactions dipped in the month of February to 47.3 percent from 49.6 percent in January according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, but it was not likely the result of a healing housing market.

The report blames the dip on a nationwide delay in the listing and sale of distressed properties as mortgage servicers continued to deal with the fallout from title and paperwork issues.

The survey reveals that the number of move-in ready properties declined to 15.4 percent in February compared to 17.5 percent in January.

The number of cash transactions set a survey record as 33.7 percent of purchases in February were cash. The increase in cash transactions parallels the rise in investor activity as investors scooped up 23.5 percent of home purchases in February, up from 19.9 percent in only two months.

“We are seeing investors come back into the market. One investor told me that one house he wanted came on Wednesday PM and had 9 offers by Thursday AM,” stated an agent in New Jersey. “There are a number of investors and businesses buying up the short sale and REO properties and renovating them and then selling them as traditional sales,” reported an agent from Arizona.

The report says that as an indicator that sales may be slipping at a time of the year they should be increasing, they noted that average transactions per real estate agent dropped to 1.7 in February versus 2.1 in January.

Traditionally transactions per real estate agent rise from January to February as the spring selling season begins but the decline may signal a slow start to this year’s spring selling season.

The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey involves more than 3,000 real estate agents nationwide each month and provides up-to-date intelligence on home sales and mortgage usage patterns.

Tags: distressed property, home purchase transactions, mortgage servicers, cash transactions, move-in ready, investors, spring selling season

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

March 22, 2011 (Jeff Alan)
mortgage-dipsign-image
Distressed property home purchase transactions dipped in the month of February to 47.3 percent from 49.6 percent in January according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, but it was not likely the result of a healing housing market.

The report blames the dip on a nationwide delay in the listing and sale of distressed properties as mortgage servicers continued to deal with the fallout from title and paperwork issues.

The survey reveals that the number of move-in ready properties declined to 15.4 percent in February compared to 17.5 percent in January.

The number of cash transactions set a survey record as 33.7 percent of purchases in February were cash. The increase in cash transactions parallels the rise in investor activity as investors scooped up 23.5 percent of home purchases in February, up from 19.9 percent in only two months.

“We are seeing investors come back into the market. One investor told me that one house he wanted came on Wednesday PM and had 9 offers by Thursday AM,” stated an agent in New Jersey. “There are a number of investors and businesses buying up the short sale and REO properties and renovating them and then selling them as traditional sales,” reported an agent from Arizona.

The report says that as an indicator that sales may be slipping at a time of the year they should be increasing, they noted that average transactions per real estate agent dropped to 1.7 in February versus 2.1 in January.

Traditionally transactions per real estate agent rise from January to February as the spring selling season begins but the decline may signal a slow start to this year’s spring selling season.

The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey involves more than 3,000 real estate agents nationwide each month and provides up-to-date intelligence on home sales and mortgage usage patterns.

Tags: distressed property, home purchase transactions, mortgage servicers, cash transactions, move-in ready, investors, spring selling season

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.