U.S. Distressed Sale Share Drops to Nine-Year Low in 2016

/EINPresswire.com/ — IRVINE, CA–(Marketwired – February 02, 2017) – ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its Year-End 2016 U.S. Home Sales Report, which shows 16.2 percent of single family home and condo sales in 2016 were distressed sales — bank-owned sales, short sales or foreclosure auctions sold to third-party buyers — down from 18.8 percent of all sales in 2015 to the lowest level since 2007, a nine-year low.

Among 193 metropolitan statistical areas with a population of 200,000 or more and at least 100 distressed sales in 2016, those with the highest share of total distressed sales were Atlantic City, New Jersey (43.8 percent); Hagerstown-Martinsburg, Maryland-West Virginia (33.2 percent); Rockford, Illinois (29.2 percent); Montgomery, Alabama (29.2 percent); and Baltimore, Maryland (28.0 percent).

Bank-owned (REO) sales accounted for 8.0 percent of all sales in 2016, down from 10.0 percent in

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Distressed sales drop to nine-year low in 2016

ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its Year-End 2016 U.S. Home Sales Report, which shows 16.2 percent of single family home and condo sales in 2016 were distressed sales — bank-owned sales, short sales or foreclosure auctions sold to third-party buyers — down from 18.8 percent of all sales in 2015 to the lowest level since 2007, a nine-year low.

Among 193 metropolitan statistical areas with a population of 200,000 or more and at least 100 distressed sales in 2016, those with the highest share of total distressed sales were Atlantic City, New Jersey (43.8 percent); Hagerstown-Martinsburg, Maryland-West Virginia (33.2 percent); Rockford, Illinois (29.2 percent); Montgomery, Alabama (29.2 percent); and Baltimore, Maryland (28.0 percent).

Bank-owned (REO) sales accounted for 8.0 percent of all sales in 2016, down from 10.0 percent in 2015 to the lowest level since 2006 — a 10-year low.

Short sales — homes

... read more at: http://www.buckscountycouriertimes.com/blogs/real-time/distressed-sales-drop-to-nine-year-low-in/article_1472f266-e88b-11e6-ae71-db7d6f119cf0.html

U.S. Distressed Sale Share Drops to Nine-Year Low in 2016

“The greater Seattle area saw the fifth highest average home price percent gain since purchase in 2016 in the country — a quite remarkable data point — and one which demonstrates the strength of the area’s economy,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market. “However, despite this rampant price growth, very few home owners are cashing in on these gains, as listing inventory remains at levels not seen since the late 1990s. Those who are taking advantage of the market are primarily banking their gains and buying another home locally rather than moving to less expensive areas. As long as the Seattle economy continues to outperform the nation, the region will continue to remain high on the list of bullish markets.”

Double-digit home price increases in Tampa, Denver, Portland
Nationwide the

... read more at: http://finance.yahoo.com/news/u-distressed-sale-share-drops-050100305.html

What Is a Penthouse? It’s a Deluxe Apartment in the Sky, Usually

What is a penthouse? If you’re lucky enough to live in one, it means you have arrived. The very word “penthouse” denotes luxury and exclusivity. In the words of the famous theme song for “The Jeffersons,” it’s a “deeee-luxe apartment in the sky.”

But if you automatically assume that a penthouse is on the top floor of a building, or the most opulent residence there, you might be surprised by what a penthouse really is in modern-day terms. Allow us to explain.

A peek inside penthouses—then and now

Penthouse apartments were born in the 1920s, when a robust economy sparked a construction boom in New York City, in which luxury apartments with to-die-for views were established on the top floors of many buildings.

One of the earliest penthouses was owned by Condé Montrose Nast, the magazine magnate who inhabited a 5,000-square-foot duplex at 1040 Park Ave. complete with a ballroom, drawing room, library, and salon—the perfect perch for the publisher of

... read more at: http://www.realtor.com/advice/buy/what-is-a-penthouse/