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CoreLogic HPI: Home Prices Continue Bumpy Ride
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CoreLogic HPI: Home Prices Continue Bumpy Ride
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CoreLogic HPI: Home Prices Continue Bumpy Ride
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February 9, 2011 (Jeff Alan)
mortgage-bumpy-road-image
CoreLogic released its December Home Price Index (HPI) which shows that home prices continued their bumpy ride, declining for the fifth month in a row. According to the HPI, national home prices, including distressed sales, declined by 5.46 percent in December 2010 compared to December 2009 and declined by 4.39 percent in November 2010 compared to November 2009.

Excluding distressed sales, year-over-year prices declined by 2.31 percent in December 2010 compared to December 2009 and declined by 2.81 percent in November 2010 compared to November 2009. Distressed sales include short sales and real estate-owned (REO) transactions.

With home prices increasing during the first seven months of the year due to the effects of government subsidies and declining the last five, annual data for 2010 shows home prices stabilized with the average annual HPI index showing no change relative to 2009. That compares to a 12.7 percent decline between 2008 and 2009. The stabilization in annual prices follows double-digit declines in 2008 and 2009 and is a sign that the largest declines are over.

“It was a bumpy ride which ended with a net gain/loss of zero. Despite the continued monthly decline in home prices and year-over-year depreciation, we’re encouraged that on an annual basis we’re unchanged relative to a year ago,” said Mark Fleming, chief economist for CoreLogic. “Excess supply continues to drive prices downward, but the silver lining is that the rate of decline is decelerating.”

Highlights of the December 2010 report include:

– Including distressed sales, the five states with the highest appreciation were: North Dakota (+5.53 percent), Hawaii (+3.79 percent), West Virginia (+3.74 percent), New York (+1.66 percent) and Vermont (+.65 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-14.61 percent), Alabama (-13.14 percent), Arizona (-10.94 percent), Oregon (-9.61 percent) and Missouri (-8.82 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Hawaii (+6.15 percent), North Dakota (+6.03 percent), West Virginia (+3.53 percent), New York (+3.27 percent), and District of Columbia (+2.64 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.41 percent), Alabama (-8.72 percent), Arizona (-7.09 percent), Oregon (-6.30 percent) and Washington (-5.75 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2010) was -31.6 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -22.2 percent.

Tags: corelogic, hpi, december housing prices, distressed sales, short sales, reo, excess supply, appreciation, depreciation

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February 9, 2011 (Jeff Alan)
mortgage-bumpy-road-image
CoreLogic released its December Home Price Index (HPI) which shows that home prices continued their bumpy ride, declining for the fifth month in a row. According to the HPI, national home prices, including distressed sales, declined by 5.46 percent in December 2010 compared to December 2009 and declined by 4.39 percent in November 2010 compared to November 2009.

Excluding distressed sales, year-over-year prices declined by 2.31 percent in December 2010 compared to December 2009 and declined by 2.81 percent in November 2010 compared to November 2009. Distressed sales include short sales and real estate-owned (REO) transactions.

With home prices increasing during the first seven months of the year due to the effects of government subsidies and declining the last five, annual data for 2010 shows home prices stabilized with the average annual HPI index showing no change relative to 2009. That compares to a 12.7 percent decline between 2008 and 2009. The stabilization in annual prices follows double-digit declines in 2008 and 2009 and is a sign that the largest declines are over.

“It was a bumpy ride which ended with a net gain/loss of zero. Despite the continued monthly decline in home prices and year-over-year depreciation, we’re encouraged that on an annual basis we’re unchanged relative to a year ago,” said Mark Fleming, chief economist for CoreLogic. “Excess supply continues to drive prices downward, but the silver lining is that the rate of decline is decelerating.”

Highlights of the December 2010 report include:

– Including distressed sales, the five states with the highest appreciation were: North Dakota (+5.53 percent), Hawaii (+3.79 percent), West Virginia (+3.74 percent), New York (+1.66 percent) and Vermont (+.65 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-14.61 percent), Alabama (-13.14 percent), Arizona (-10.94 percent), Oregon (-9.61 percent) and Missouri (-8.82 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Hawaii (+6.15 percent), North Dakota (+6.03 percent), West Virginia (+3.53 percent), New York (+3.27 percent), and District of Columbia (+2.64 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.41 percent), Alabama (-8.72 percent), Arizona (-7.09 percent), Oregon (-6.30 percent) and Washington (-5.75 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2010) was -31.6 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -22.2 percent.

Tags: corelogic, hpi, december housing prices, distressed sales, short sales, reo, excess supply, appreciation, depreciation

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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.

February 9, 2011 (Jeff Alan)
mortgage-bumpy-road-image
CoreLogic released its December Home Price Index (HPI) which shows that home prices continued their bumpy ride, declining for the fifth month in a row. According to the HPI, national home prices, including distressed sales, declined by 5.46 percent in December 2010 compared to December 2009 and declined by 4.39 percent in November 2010 compared to November 2009.

Excluding distressed sales, year-over-year prices declined by 2.31 percent in December 2010 compared to December 2009 and declined by 2.81 percent in November 2010 compared to November 2009. Distressed sales include short sales and real estate-owned (REO) transactions.

With home prices increasing during the first seven months of the year due to the effects of government subsidies and declining the last five, annual data for 2010 shows home prices stabilized with the average annual HPI index showing no change relative to 2009. That compares to a 12.7 percent decline between 2008 and 2009. The stabilization in annual prices follows double-digit declines in 2008 and 2009 and is a sign that the largest declines are over.

“It was a bumpy ride which ended with a net gain/loss of zero. Despite the continued monthly decline in home prices and year-over-year depreciation, we’re encouraged that on an annual basis we’re unchanged relative to a year ago,” said Mark Fleming, chief economist for CoreLogic. “Excess supply continues to drive prices downward, but the silver lining is that the rate of decline is decelerating.”

Highlights of the December 2010 report include:

– Including distressed sales, the five states with the highest appreciation were: North Dakota (+5.53 percent), Hawaii (+3.79 percent), West Virginia (+3.74 percent), New York (+1.66 percent) and Vermont (+.65 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-14.61 percent), Alabama (-13.14 percent), Arizona (-10.94 percent), Oregon (-9.61 percent) and Missouri (-8.82 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Hawaii (+6.15 percent), North Dakota (+6.03 percent), West Virginia (+3.53 percent), New York (+3.27 percent), and District of Columbia (+2.64 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.41 percent), Alabama (-8.72 percent), Arizona (-7.09 percent), Oregon (-6.30 percent) and Washington (-5.75 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2010) was -31.6 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -22.2 percent.

Tags: corelogic, hpi, december housing prices, distressed sales, short sales, reo, excess supply, appreciation, depreciation

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.