Tuesday, April 03, 2012

Home Prices Seen Dropping 10% in U.S. on Foreclosures: Mortgages


As many as 1.25 million of America’s least cared for homes are headed for auction after a year-long probe into foreclosure practices kept them off the market.

Sales of repossessed properties probably will rise 25 percent this year from 1 million in 2011, according to Moody’s Analytics Inc. Prices for the homes could drop as much as 10 percent because they deteriorated as they were held in reserve during investigations by state officials resolved in February, according to RealtyTrac Inc.

Read more in Bloomberg

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Original content Bob DeMarco, All American Investor