Miami Foreclosure Watch: Real Estate Backlog to Last a Decade

Last week, the USA Today reported that it could take nearly a decade to clear out the more than 2 million homes that are in foreclosure or are seriously delinquent.  That’s about twice as long as last year’s estimate – before the government and foreclosure defense attorneys began uncovering fraudulent paperwork and other illegal and ...

Discount Increasing on Distressed Real Estate

According to RealtyTrac, from the first quarter to the second quarter of 2011, the number of homes that are moving through the foreclosure process fell 5%, from 36% to 31%. But the interesting thing is that these properties, on average, are now selling for 40% below the non-foreclosure properties. That's an absolutely huge difference. And it goes ...

Software Glitch Inflates Chicago Real Estate Pricing

Computers are always right, huh? No, not always. Computers are only as good as the people inputting data into them. And in this particular case, a lot of relevant data was omitted from a software program used to calculate historical data for real estate in the Chicago area. Inman News reports this: The program failed to recognize ...