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Email not displaying correctly? View it in your browser. Underwater Mortgages Increase to 11.3M: First American Negative equity continues to diminish the severity of foreclosure for many homeowners. Industry studies show that borrowers become more likely to default when they owe more on their home than it is worth. Unfortunately, the underwater number is still growing. First American CoreLogic said Tuesday that more than 11.3 million residential properties were in negative equity at the end of 2009. That equates to 24 percent of all homes in the United States with mortgages. S&P/Case-Shiller Index Shows Seasonal 0.3% Rise in Home Prices The latest home price report from Standard & Poor's indicates that property values may be leveling off. The company's national index, which is produced only once a quarter and covers all nine U.S. census divisions, showed a seasonally-adjusted gain of 0.3 percent between the third and fourth quarters of last year. The movement may seem slight, but it's a significant improvement from the freefall that's pushed home values 32 percent below their 2006 peak. FDIC Labels 702 Banks as "Problem" By the end of last year, 702 banks' names had landed on the FDIC's "problem list." That's up 27 percent from the 552 insured institutions on the list just three months earlier. In a statement, the FDIC called the increase "expected." The total amount of assets held by these problem institutions was $402.8 billion as of the end of Q409. The banks on this list are thought to be at risk of collapse. The 702 that sit there now are the most since the height of the savings & loan crisis. Commercial Real Estate to Begin Recovery in 2011 Despite current reports of stabilization within the economy, commercial real estate sectors continue to be negatively impacted by fallout from the recession, but according to the National Association of Realtors (NAR), there is hope for some improvement by next year. Vacancy rates are expected to stay elevated throughout 2010, but NAR says with the job market anticipated to turn for the better later this year, the industry should see rising demand for office and warehouse space in 2011. You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference. Unsubscribe roballeyrealtor@gmail.com from this list. Corporate Office: DS News 1909 Woodall Rodgers Suite 300 Dallas, TX 75201 Add us to your address book Washington Bureau: 1101 Pennsylvania Avenue NW Suite 600 Washington, D.C. 20004 Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2010 Five Star Conference DARE