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The foreclosure process remained relatively flat during 2011, but a report notes it showed signs of a slight revival at the beginning of 2012.

The foreclosure process remained relatively flat during 2011, but a report notes it showed signs of a slight revival at the beginning of 2012.

There was a 3 percent increase in activity among foreclosed houses in January, and while many individuals assume this issue is predominantly impacting the middle- and lower-income brackets, CNNMoney reports that even some of the nation's richest neighborhoods have not been spared from the trend.

According to the news source, Laguna Beach, California, is one such area that has not been exempt from the high foreclosure rate, as a property purchased for $28 million in 2010 fell into foreclosure the same year and is now being put back on the market for approximately $18 million - a 35 percent discount.  

Additionally, Newport, Rhode Island, a housing market known for it mansion estates with waterfront views, has also fallen victim to the foreclosure influx. One particular property built in 1891, but forecloses on in 2011, has recently been put back onto the market with an asking price of 7.9 million.

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Despite a number of economic improvements during January, the housing market continues to be a key factor holding back a faster recovery.

Despite a number of economic improvements during January, the housing market continues to be a key factor holding back a faster recovery.

According to economic and real estate data collected by the Federal Reserve Bank of Chicago, its National Activity Index remained positive during the month. The index is a comparison of inflationary pressures set against economic growth and indicated improvements for the second consecutive month.

Although the index continues to show improvements, it dipped slightly to a reading of 0.22 in January - a drop from 0.54 in December. While this is still in positive territory, the index shows that the rate of improvement slowed during the first month of 2012.

This slow can be largely contributed to data from the consumption and housing portion of the index which remained in negative territory at 0.27 during the month. However, despite still being weak, this was an improvement from December when the index was at negative 0.3 - indicating that the housing market is still a variable holding back the economy.

Meanwhile, the report found that housing and consumption were the only parts of the index to remain negative, as production, income, employment, sales orders and inventory all showed positive growth.

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In the wake of the announced settlement between the nation's largest lenders and homeowners who were wrongfully foreclosed on due to the robosigning scandal, some critics anticipate the settlement will do very little to relieve the mortgage industry, The New York Times reports.

In the wake of the announced settlement between the nation's largest lenders and homeowners who were wrongfully foreclosed on due to the robosigning scandal, some critics anticipate the settlement will do very little to relieve the mortgage industry, The New York Times reports.

The lenders recently came to an agreement with a number of state attorneys general offices for $25 billion in relief - 90 percent of which will go to distressed borrowers, while the remaining 10 percent will go to the states involved in the legal action.

However, despite the sizable settlement, a number of industry experts believe the money is not enough to repair the damage that has already been done.

"The total number of dollars is still small compared to the value of the mortgages that are underwater," Director of the University of Southern California's Lusk Center for Real Estate, Richard Green, told the news source.

According to the Times, the deal will only reduce the amount of debt for a fraction of the borrowers affected by the wrongful foreclosure actions, and many analysts are still pondering how the settlement will actually change the status of struggling borrowers or help households keep their properties. 

Forty-nine states in total were involved in the legal proceedings, and California and Florida - two of the states hit hardest when the housing bubble burst - will receive a majority of the settlement.

Real estate data from RealtyTrac, at the beginning of 2012, nationwide approximately one in every 624 homes were in some stage of the foreclosures process. Specifically, it was reported that Florida had one in every 363 homes in foreclosures, while California had one in every 265 properties.     

Meanwhile, critics told the news source that without changes made to lending regulation, the multibillion-dollar settlement will do little to cut down on the both the foreclosure rate and help troubled homeowners.

Currently, due to the present standards in place, the Times notes that a large number of borrowers who would have been qualified at the housing market's peak are currently being passed from lender to lender, unable to find relief through a loan modification. 

However, in order to curb this trend, lawmakers plan to create a single point-of-contact program for borrowers who will be receiving a portion of settlement - a plan that many hope will give these households relief after years of displacement and hardship.

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In the wake of a report from the National Association of Realtors stating that the housing market may have finally hit its bottom, a number of critics claim this is not the case.

In the wake of a report from the National Association of Realtors stating that the housing market may have finally hit its bottom, a number of critics claim this is not the case.

According to a NAR chief economist Lawrence Yun the thinning inventory could result in stabile home price appreciation in number marketplaces in the near future.

However, Jonathan Miller of real estate firm Miller Samuel argues that the nation's thinning inventory is in fact not good news for the housing market. Although he agrees that a falling inventory could result in price stabilization, he noted that recently, there has yet to be a spike in the sales rate in order for this to happen.

Additionally, Miller applauded NAR for the member services they offer and success found in their monthly publication, but offered a few choice words of criticism.

"[NAR] would be a lot more successful as an organization if they became a trusted, go-to adviser, rather than putting out the predictable spin every single month when these reports come out," he said. "I think it's a disservice to members."

Rather than the fundamental market trend that an increase in home sales will result in a declining inventory, Miller claims that the inventory is decreasing as a result of a slow in the foreclosure process seen in the latter months of 2011 as major lenders worked to come to a settlement over the robosigning debacle.

This pause in foreclosures, is what Miller says led to the thinning inventory. However, he added that since reaching a $26 billion settlement between lenders and homeowners who were wrongfully foreclosed upon, there will be a revival of the process during the course of 2012, adding more housing stock to the inventory. Miller anticipates to see an estimated one million foreclosed houses to hit the market per year in 2012 and 2013.    

Meanwhile, Miller also stated that a decline in seller confidence was another major factor behind the falling inventory. With home prices nearly 30 percent below levels recorded at the housing market's peak, a greater number of current owners are holding off on listing their homes as they wait for a rebound.

Additionally, the Federal Reserve recently announced that mortgage rates will be held near current lows until at least 2014. Since prospective buyers will be able to capitalize on the affordable rates for roughly the next two years, sellers may continue to hold onto their homes.

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A recent report from Interthinx shows that the risk of mortgage fraud has remained elevated in the wake of the housing bubble burst, as it continued to trend higher during the fourth quarter.

A recent report from Interthinx shows that the risk of mortgage fraud has remained elevated in the wake of the housing bubble burst, as it continued to trend higher during the fourth quarter.

Mortgage records from the company's index indicated that the level of fraudulent activity increased by 8 percent during the three-month period form the previous quarter. However, in the first three quarters of 2011, the index had remained relatively flat.

"Valuation fraud continues to be a problem for lenders intent on mitigating overall fraud risk," said Interthinx chief evaluation officer Mark Chapin. "Lenders must take great care with their collateral valuation process in this environment, as many areas around the country are still experiencing home value declines."

Meanwhile, the overall Mortgage Fraud Risk Index was also up 1.4 percent during the fourth quarter from the previous three-month period, while also rising 3.6 percent from a year earlier. The report noted that this was the seventh consecutive quarter that the index was at a level between 140 and 145, indicating an elevated risk of fraudulent mortgage activity.

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A number of new real estate projects scheduled to break ground could soon change the face of the commercial real estate market in Miami, a report indicates.

A number of new real estate projects scheduled to break ground could soon change the face of the commercial real estate market in Miami, a report indicates.

According to a recent report from Jones Lang LaSalle, a return to industry fundamentals in the wake of the real estate bust has seen builders developing new, empty buildings throughout the city.

As a result, the Miami commercial vacancy rate has been robust despite employment and economic hardship in the area during recent years. But with the years 2014 and 2015 just around the corner, the report indicated that there could soon be another major wave of lease expiration resulting is significant property turnovers. Leading up to this wave, real estate data shows that leasing activity is the latter-half of 2010 was nearly record-setting.

"The playing field has been leveled somewhat for the best positioned buildings and strongest credit users," Jones Lang LaSalle managing director Steve Medwin told World Property Channel. "It appears that we have reached the bottom of the market in terms of pricing and concessions for this subset of properties and tenants."

In addition, Medwin noted that Class A buildings in Miami were responsible for most of the city's absorption, as the CBD towers in the downtown area held the city's highest year-to-date occupancy rate.

The current events that have occurred in the Miami commercial real estate market have local industry experts expecting a change in the landscape, as a number of new proposed developments have budded from the recent success in the sector.

"Downtown Miami's Brickell neighborhood is coming alive as new residents and businesses flood the area, and international buyers launch new projects in the district," said Miami Downtown Development Authority executive director Alyce Robertson. "Brickell CitiCentre is just one example of the activity taking place today that will further propel downtown Miami onto the international stage as a major center for commerce and retail."  

The Brichell CitiCentre is due break ground by the middle of 2012 and will cost an estimated $1 billion, creating 4.6 million square feel of new commercial property in the downtown area. In addition, another project that is anticipated to be roughly double the size of the Brichell CitiCentre will be the nation's largest casino, hotel and resort complex just north of Miami.

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For the seventh consecutive month, home sale transactions improved from the year before in January, according to a report, indicating the housing market is slowly making up ground from issues persisting the past few years.

For the seventh consecutive month, home sale transactions improved from the year before in January, according to a report, indicating the housing market is slowly making up ground from issues persisting the past few years.

RE/MAX's National Housing Report shows home sales grew 3.4 percent on a year-over-year basis in the first month of 2012, continuing a trend that began in summer 2011.

According to the real estate firm's property data, 20 of the 53 major markets surveyed for the report experienced double-digit increases in transactions. Additionally, the report shows January marked the 19th month in a row of dropping inventory.

"If sales continue ahead of last year's pace and inventory does not increase significantly, we could start to see increasing home prices this year," Margaret Kelly, CEO of RE/MAX, said in a statement.

The median sales price recorded during the month was a shade under $130,000. In total, 15 metros saw prices jump on an annual basis, including hard-hit markets including Phoenix and Detroit.

To keep the housing market's momentum going, Federal Reserve Chairman Ben Bernanke continues to urge Congress to take additional actions to help homeowners.

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The final three months of 2011 saw the number of delinquent loans and foreclosures throughout the country decrease, according to a Mortgage Bankers Association report.

The final three months of 2011 saw the number of delinquent loans and foreclosures throughout the country decrease, according to a Mortgage Bankers Association report.

The report indicates that the delinquency rate for mortgages of homes with one to four units declined in the fourth quarter from the previous three-month period and a year earlier to a seasonally adjusted rate of 7.48 percent.

Additionally, mortgage records found the percentage of loans going through some form of the foreclosure process was 4.38 percent - lower on an annual and monthly basis.

"Mortgage performance continued to improve in the fourth quarter, reflecting the improvement we saw in the job market and broader economy," said MBA chief economist and senior vice president for research and education Jay Brinkmann. "The total delinquency rate and foreclosure starts rate decreased and are back down to levels from three years ago."

With the nation's employment situation bettering, the delinquency rate should continue to improve as well, Brinkmann added, noting that the rate of outstanding loans has actually been falling at a quicker pace than the country's jobless rate.

Record-low rates for home loans should ease the mortgage crisis facing many Americans, particularly homeowners, who can refinance new affordable terms for their loans.

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The first month of 2012 experienced an increase in building permits for privately owned and single-family homes, according to a report released by the Commerce Department, but construction start data differed between the two types of housing.

The first month of 2012 experienced an increase in building permits for privately owned and single-family homes, according to a report released by the Commerce Department, but construction start data differed between the two types of housing.

According to the report, the seasonally adjusted annual rate of privately owned housing units reached 676,000 - nearly 1 percent higher than December's total and 19 percent ahead of the pace recorded a year earlier.

Similarly, permits for single-family properties reached a rate of 445,000 during January, which marked a 0.9 percent hike from the month before.

However, when it came to housing starts, privately owned units saw a 1.5 percent increase on a monthly basis, as construction of these units reached a pace of 699,000. Single-family starts, conversely, fell from a pace of 513,000 to 508,000 month-to-month.

In a statement following the release of the report, High Frequency Economics chief U.S. economist Ian Shepherdson said the report's findings are in line with property data reported by the federal government since late 2012.

"The upturn in permits and starts in recent months has been consistent with the surge in the ... survey of homebuilders, which has surprised the markets to the upside for five straight months," said Shepherdson.

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Homebuyer affordability remained at the highest level it's ever been during the middle of February, as Freddie Mac reports both short- and long-term mortgage rates stayed at their all-time lows.

Homebuyer affordability remained at the highest level it's ever been during the middle of February, as Freddie Mac reports both short- and long-term mortgage rates stayed at their all-time lows.

The average rate for a 30-year fixed-rate home loan during the week ending February 16 was 3.87 percent, according to mortgage records from Freddie.

Meanwhile 15-year FRMs averaged 3.16 percent during the week. The short-term rate was the same as the week before, while the 30-year FRM rate has been the same for the past three weeks.

Additionally, the GSE's Primary Mortgage Market Survey found the average rates for adjustable-rate mortgages went in different directions. The report shows 5-year ARM rates averaged 2.82 percent - a modest weekly drop - while the average 1-year ARM rate rose from 2.78 to 2.84 percent week-to-week.

It remains unseen as to whether these historic low rates will spur the market and increase sales. One report of dwindling consumer confidence may signal a slow start to 2012 for sales.

The latest Reuters/University of Michigan consumer sentiment index reveals a decline in confidence in the overall economy during February, which could translate to stagnant housing market conditions.