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LATEST CORELOGIC ECON TWEETS

Note Sales Build Private Market for Distressed Assets

Fannie Mae Package Brings it to $4 Billion NPLs to Date

Faith Schwartz    |    Housing Policy

Foreclosure For Sale Sign

The foreclosure numbers continue to improve markedly, as the latest CoreLogic report shows (completed foreclosures were down 20 percent for 2015 and have been tracking lower for 50 consecutive months). But that doesn’t mean that there isn’t still a sizable batch of defaulted properties, many in judicial states, which are 20 percent, even 30 percent underwater.

The...

Valuing Retail Buildings for Real Estate Assessment Purposes

Go With the Cost Approach for Best Results

James Siebers    |    Property Valuation

Tax Bill

Recently, several national chain retailers have attempted to get their property assessments and taxes reduced based on the assumption that the buildings out of which they operate should be valued by comparing them to vacant or “dark” buildings, or buildings that are used for a different, less valuable purpose than what they were intended for. The retailers argue they should...

Residential land costs keep rising

Cameron Kusher    |    International

Median Selling Price of Vacant Land

Capital city vacant land prices continued to rise in 2015 however, land sizes have recently bucked their trend towards smaller lots and actually shown an increase which has resulted in a decline in the average rate per square meter of land.

At the end of 2015, the median price of vacant land across the combined capital cities was recorded at $265,000 while the median land price...

One Million Borrowers Regain Mortgage Equity in 2015

Negative Equity Remains Low in Oil-Patch Areas

Molly Boesel    |    Property Valuation

25 States with the Largest YOY Change
  • The negative equity share fell to 8.5 percent in Q4 2015 from 10.7 percent in Q4 2014.
  • Only North Dakota saw an increase in negative equity in 2015, but the increase was minimal.  
  • Negative equity remains low in the oil-patch areas.

The nationwide negative equity share decreased in 2015, falling from 10.7 percent in Q4 2014 to 8.5 percent...

Mortgage demand shrinks in January, will it continue throughout 2016?

Cameron Kusher    |    International

ABS housing finance data for January 2016 shows that the value of housing finance commitments was recorded at $31.9 billion over the month.  Based on this figure, mortgage lending fell by -3.4% over the month.  Even though the data is seasonally adjusted, we often see falls in mortgage lending over January so perhaps we need not read too much into the fall, however, this is the...

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