Associated Press file photo Nationally, banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.Mortgage default warnings surged in August-->Utah has the nation’s 10th-highest foreclosure rate in the country, with one in every 450 households receiving a foreclosure-related filing last month, a new report shows.
But the Beehive State, which has been in the top 10 for more than two years, has a foreclosure problem that pales in comparison to No. 1 Nevada, where 1 in every 118 households received a filing in July, according to foreclosure-tracking company RealtyTrac.
Nevada was followed by California (1 in 226), Arizona (1 in 248), Georgia (1 in 346), Idaho (1 in 348), Michigan (1 in 349), Florida (1 in 376), Illinois (1 in 424) and Colorado, No. 9 with a rate of 1 in every 439 households receiving a filing.
Nationally the foreclosure rate is 1 in every 570 U.S. households, said RealtyTrac.
In all, about 228,098 U.S. homes received a foreclosure-related notice last month, a 7 percent increase from July, but a nearly 33 percent decline from August last year. In Utah, 2,119 households received a foreclosure-related filing, down 17 percent from July and more than 48 percent from August 2010.
But that trend isn’t expected to hold.
Nationally, banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.
Friday, September 16, 2011
Utah 10th in the Nation - Mortgage default warnings surged in August | The Salt Lake Tribune
Thursday, September 15, 2011
When will home prices spring back?
(MONEY Magazine) -- It was with some trepidation that Stephanie Kim and her husband, Brendan, 40 and 42, put their Chicago townhouse on the market in June. While the place was in great shape, prices in their city were off 8% from 2010 -- and of the 30 similar homes in the area listed the previous year, only nine had sold.
And yet there was an offer on the house almost immediately; the sale closed two months later at just $15,000 under the $650,000 asking price. "We thought it would take a lot longer to sell," says Stephanie.
Nationwide, the U.S. housing market remains deep in the doldrums and economists expect prices to fall another 5% to 10% in many places. And yet some sellers, like the Kims, are seeing signs of a turnaround.
In a few of the hardest-hit areas, such as Detroit, homes have become so cheap that it no longer makes sense to rent.
In other places, like Los Angeles, price drops haven't stopped, but they've slowed, and homes are selling faster. Plus, even if your area is still hurting, your neighborhood might be on its way back.
When the rebound arrives, desirable zip codes will see price jumps first, says David Stiff, chief economist for housing research firm Fiserv Case-Shiller. "Real estate is always local, but these days it's hyperlocal," says Chicago broker Scott Berg.
To estimate where your own house lies on the recovery spectrum, answer the following questions.
CHECK OUT MY WEBSITE FOR YOUR ZIP CODE SEE HOW YOUR AREA IS DOING
Http://www.race2utah.com
How to identify a Meth Lab
"Keep in Mind when your face with this decision ... retired police officer wrote the following:
As a law enforcement officer, I have been approachedby several people lately wanting to know how to identify a Meth Lab
Following are four photos.
I think it's pretty obvious which one is the Meth Lab.
