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Posts Tagged ‘anand nallithambi’

More Underwater Homes are Beginning to Float again

September 26th, 2014 Comments off

housing_recovery__globest.com__creditAccording to housingwire.com, the latest CoreLogic report indicates 946,000 properties regained positive equity in the second quarter of 2014, increasing borrower equity year over year by an estimated $1 trillion. The number of homes that remain in negative equity has fallen from 7.2 million, or 14.9 percent of all homes with a residential mortgage, in Q2 2013, to 5.3 million homes, or 10.7 percent in the second quarter 2014, a drop of nearly two million in one year. In dollars, this equates to negative equity declining $432.9 billion in 12 months. The 44 million residential properties with positive equity include nine million, about 19 percent, that have less than 20 percent equity, while 1.3 million have under five percent equity. Anand Nallathambi, president and CEO of CoreLogic, tells MHProNews, “With more and more borrowers regaining equity, we expect homeownership to become an increasingly attractive option for many who have remained on the sidelines in the aftermath of the great recession. This should provide more opportunities for people to sell their homes, purchase a different home or refinance an existing mortgage.” ##

(Image credit: globest.com–housing recovery)

CoreLogic: Housing Market will Cool in 2014

January 7th, 2014 Comments off

According to CoreLogic, home prices in the U. S. rose 11.8 percent in November, 2013 compared to Nov. 2012, marking the 21st consecutive month of yearly increases. “Our pending HPI (Home Price Index) projects that home prices will grow by 11.5 percent for the full year 2013,” Dr. Mark Fleming, chief economist for CoreLogic, said in the report. “That will make 2013 the best year for home-price appreciation since 2005.” However, compared to the prior month prices rose only 0.1 percent, following an increase of 0.2 percent in October. While it is anticipated December prices will show a decrease from Nov. of 0.1 percent, year-over-year Dec. prices will slow to an 11.5 increase, as MHProNews has learned from worldpropertychannel.com. CoreLogic expects slower appreciation in 2014. Anand Nallathambi, president of CoreLogic, says, “On a year-over-year basis, home prices have appreciated every month in 2013. Twenty-one states and the District of Columbia are now at or within 10 percent of their peaks. The outlook for 2014 looks a bit less robust as regulatory complexities and tight credit can be expected to cool the housing market.”

(Image credit: housingwirecom)