Opportunity Fund

As of June 30th 2014, Opportunity Fund VIII closed to further subscriptions. There are no plans at this time to establish another Fund. Bayou City will continue to manage all remaining Funds through liquidation and final distribution. Please contact your Source Capital broker or Bayou City for additional information
July 31, 2014, 8:00 a.m. EDT
CoreLogic Reports 49,000 Completed Foreclosures in June
- Foreclosure inventory down 35 percent nationally from a year ago -
IRVINE, Calif., July 31, 2014 /PRNewswire/ -- CoreLogic® CLGX -0.36% , a leading global property information, analytics and data-enabled services provider, today released its June National Foreclosure Report, which provides data on completed U.S. foreclosures and foreclosure inventory. According to CoreLogic, for the month of June 2014, there were 49,000 completed foreclosures nationally, down from 54,000 in June 2013 , a year-over-year decrease of 9.9 percent. On a month-over-month basis, completed foreclosures were up by 2.7 percent from the 48,000* reported in May 2014 . As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Highlights as of June 2014:
June represents 17 consecutive months of at least a 20-percent year-over-year decline in the national inventory of foreclosed homes.
All but one state posted double-digit declines in foreclosures year over year. The state of Wyoming saw a 5.1-percent increase in foreclosures year over year.
Thirty-six states show declines in year-over-year foreclosure inventory of greater than 30 percent, with Arizona and Utah experiencing declines greater than 50 percent.
The five states with the highest number of completed foreclosures for the 12 months ending in June 2014 were: Florida (123,000), Michigan (43,000), Texas (33,000), California (34,000) and Georgia (31,000).These five states account for almost half of all completed foreclosures nationally.
The five states (including the District of Columbia) with the lowest number of completed foreclosures for the 12 months ending in June 2014 were: the District of Columbia (83), North Dakota (324), West Virginia (543), Wyoming (718) and Hawaii (836).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: New Jersey (5.7 percent), Florida (5.0 percent), New York (4.3 percent), Hawaii (3.1 percent) and Maine (2.7 percent).
The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Alaska (0.4 percent), Nebraska (0.4 percent), North Dakota (0.5 percent), Minnesota (0.5 percent) and Wyoming (0.5 percent).

June 30th 2014
The Opportunity Fund VIII Program is now closed to further subscriptions.


January 07, 2014, Irvine, Calif. –
—Analysis Projects First Month-Over-Month Decline in December—
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its November CoreLogic Home Price Index (HPI®) report. Year over year, home prices nationwide, including distressed sales, increased 11.8 percent in November 2013 compared to November 2012. This change represents the 21st consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 0.1 percent in November 2013 compared to October 2013.*

December 17, 2013, Irvine, Calif. –
––Approximately 6.4 Million Residential Properties with a Mortgage Still in Negative Equity––
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released new analysis showing approximately 791,000 more residential properties returned to a state of positive equity during the third quarter of 2013, and the total number of mortgaged residential properties with equity currently stands at 42.6 million. The analysis indicates that nearly 6.4 million homes, or 13 percent of all residential properties with a mortgage, were still in negative equity at the end of the third quarter of 2013. This figure is down from 7.2 million homes, or 14.7 percent of all residential properties with a mortgage, at the end of the second quarter of 2013*. Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both. The national aggregate value of negative equity was $397 billion at the end of the third quarter compared to $430 billion at the end of the second quarter of 2013, a decrease of $33.7 billion. This decrease was driven in large part by an improvement in home prices. Of the 42.6 million residential properties with positive equity, 10 million have less than 20 percent equity. Borrowers with less than 20 percent equity, referred to as “under-equitied,” may have a more difficult time obtaining new financing for their homes due to underwriting constraints. Under-equitied mortgages accounted for 20.4 percent of all residential properties with a mortgage nationwide in the third quarter of 2013, with more than 1.5 million residential properties at less than 5 percent equity, referred to as near-negative equity. Properties that are near negative equity are considered at risk should home prices fall.