Kcm 03 12 for Sellers

8/2/2019 Kcm 03 12 for Sellers

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2/23

S&P Case-Shiller Home Price Indices

S&P Case Shiller 1/31/2012


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Supply & Demand


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Financial Times 2/17/2012

Months Supply of Shadow Inventory


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Explaining Shadow Inventory

ShadowInventory

S

ALES


7/23

NationalMortgageSettlement.com


8/23

RealtyTrac 2/16/2012

Impact of Settlement

The settlement sets forth clear guidelines forlenders and servicers to follow when foreclosing,

which should allow them to push through some of

the delayed foreclosures from last year.

Brandon Moore, Chief Executive of RealtyTrac


9/23

The settlement helps the housing market in thelong run because it allows banks to proceed with

millions of foreclosures that have been stalled.

Many lenders have refrained from foreclosing on

homes as they awaited the settlement.Mark Vitner, a senior economist at Wells Fargo Securities

Impact of Settlement

Washington Post 2/08/2012


10/23


11/23

Moodys Analytics 2/17/2012

The latest settlement will hastenthe pace of filings and push up the

distress sale share of total sales

over the next several quarters,

driving national

house prices down

another 3%.Celia Chen, Moodys Analytics

Price Depreciation


12/23

Shadow Inventory

1. Houses 90 Days Delinquent on

the mortgage

2. Houses owned by banks but notyet ready for sale

3. Houses in the foreclosureprocess


13/23


14/23

S&P Case Shiller Pricing Index 10 City

125

135

145

155

165

175

185

195

2006 2006 2006 2006 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011

2006 - 2011

Case Shiller


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S&P Case Shiller Pricing Index 10 City

0

20

40

60

80

100

120

140

160

180

200

1987 2011

Case Shiller


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40%

37%

31%30%

29%31%

30%28%

29%

32%

35%

0%

10%

20%

30%

40%

50%

Percentage of Distressed Property Sales

NAR


17/23

Calculated Risk 2/15/2012

Short Sales Surging

103

274

354

397

0

50

100

150

200

250

300

350

400

450

2008 2009 2010 2011

Short Sales in Thousands


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We continued to see a shift toward pre-foreclosuresales, or short sales, and away from REOs

That trend will likely show up in more local

markets in 2012 as lenders recognizeshort sales as a better option for manyof their non-performing loans.

Short Sales Surging

RealtyTrac 2/28/2012

RealtyTrac


19/23

Type of Sale % of Value

Non-Distressed Sale 100%

Short Sale 79%

Foreclosure Sale 71%

Value by Sale Category

RealtyTrac 02/2012


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DS News 2/15/2012

Mortgage Forgiveness Debt Relief Act

Obamas 2013 budget proposalincludes an extension of theMortgage Forgiveness Debt ReliefAct of 2007.

Without the Mortgage ForgivenessDebt Relief Act, debt reducedthrough mortgage modifications orshort sales qualifies as income tothe borrower and is taxable. Theadministrations extension would

apply to any amounts forgivenbefore January 1, 2015.


21/23

Resources

KEEPINGCURRENTMATTERS.COM

Slide Slide Title Link

2,3,4Existing Home Sales, Pending Home

Sales, Monthly Inventory of Homes for

Sales

http://www.realtor.org

5 Return on Investment www.msnmoney.com

6 Projections for 2012 http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304

7 Projections for 2012 http://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-tap

8 Projections for 2012 http://freddiemac.mediaroom.com/index.php?s=12329&item=122345

9 Projections for 2012 http://www.economy.com

10 Warren Buffet Speaks Out http://www.cnbc.com/id/46541258

11 Warren Buffet Speaks Out http://www.cnbc.com/id/46541258

12 Mortgage Rates http://www.freddiemac.com/pmms

16 House Rents Will Keep Risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-

keep-rising-and-rising

17, 18Housing Cost Over Next 30 Years,

Retirement Fund Created from

Homeowner Equity After 30 Years

http://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-

prices-fall-further

19 S&P Case-Shiller Home Price Indices http://www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdf
http://www.realtor.org/http://www.msnmoney.com/http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://freddiemac.mediaroom.com/index.php?s=12329&item=122345http://www.economy.com/http://www.cnbc.com/id/46541258http://www.cnbc.com/id/46541258http://www.freddiemac.com/pmmshttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdfhttp://www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdfhttp://www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdfhttp://www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdfhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://www.forbes.com/sites/investor/2011/10/12/buy-that-dream-house-now-or-wait-until-prices-fall-furtherhttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://bottomline.msnbc.msn.com/_news/2012/02/06/10332224-office-and-home-rent-will-keep-rising-and-risinghttp://www.freddiemac.com/pmmshttp://www.cnbc.com/id/46541258http://www.cnbc.com/id/46541258http://www.economy.com/http://freddiemac.mediaroom.com/index.php?s=12329&item=122345http://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.housingwire.com/article/monday-morning-cup-coffee-more-good-housing-news-taphttp://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.ihs.com/products/Global-Insight/industry-economic-report.aspx?ID=1065932304http://www.msnmoney.com/http://www.realtor.org/


22/23

Resources

KEEPINGCURRENTMATTERS.COM

Slide Slide Title Link

21 Months Supply of Shadow Inventory http://ftalphaville.ft.com/blog/2012/02/17/881581/the-decline-of-us-housing-inventory

22 Months Supply of Shadow Inventoryhttp://www.realtor.org/wps/wcm/connect/0556a600491cbf9b813bcd2e39654e23/Shadow_Inventory_Annual_2011_for_website.pdf?MOD=AJPERES&CACHEID=0556a600491cbf9b813bcd

2e39654e23

21 S&P Case-Shiller Home Price Indices www.housingviews.com/wp-content/uploads/2012/01/CSHomePrice_Release1.pdf

25 Impact of Settlementhttp://www.realtytrac.com/content/foreclosure-market-report/january-2012-us-foreclosure-

market-report-7022

26 Impact of Settlementhttp://www.washingtonpost.com/business/source-holdout-states-to-sign-mortgage-

settlement-with-banks-over-foreclosure-abuses/2012/02/08/gIQA7uIvzQ_story.html

27 Impact of Settlementhttp://www.businessweek.com/news/2012-02-14/foreclosure-deal-to-spur-u-s-home-seizures-

help-heal-market.html

28 Price Depreciation http://www.economy.com/dismal

30 Foreclosures in Process by State http://www.corelogic.com/about-us/researchtrends/asset_upload_file693_14120.pdf

33 Percentage of Distressed Property Sales http://www.realtor.org

34 Short Sale Surging http://www.calculatedriskblog.com/2012/02/lawler-short-sales-increased.html

35 Short Sale Surginghttp://www.realtytrac.com/content/foreclosure-market-report/q4-and-year-end-2011-us-

foreclosure-sales-report-7060

37 Mortgage Forgiveness Debt Relief Acthttp://www.dsnews.com/articles/obama-proposes-extending-tax-waiver-on-mortgage-debt-

forgiveness-2012-02-15
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