Here is an interesting story I found in my email inbox recently. I hope you enjoy it! Hey Investors! Check out the latest from ForeclosureRadar… Foreclosure Sales Continue to Plummet For the second month in a row we’ve seen a dramatic drop in the number of properties sold at foreclosure, or “trustee sale”, auctions. Foreclosure ... [Read More]
Here is an interesting story I found in my email inbox recently. I hope you enjoy it! Hey Investors! Check out the latest from ForeclosureRadar…
Foreclosure Sales Continue to Plummet
For the second month in a row we’ve seen a dramatic drop in the number of properties sold at foreclosure, or “trustee sale”, auctions. Foreclosure sales in California are down 16.7 percent from February to March 2012 and down 53.1 percent from March a year ago. A total of 86,487 sales were scheduled to occur in California, but of those 80.0 percent postponed, and 10.6 percent were cancelled, leaving just 8,392 that were actually sold. Third parties, typically investors, purchased a record 38.6% of the properties that did sell in California.
Foreclosure starts rose in most states, with the largest increases occurring in Washington, California and Nevada. This, at least temporarily, reverses a downward trend, but even with the increase the volume of new foreclosures remains significantly down year-over-year in all the states we cover.
The increase in foreclosure starts is especially interesting in Nevada. Bank foreclosures came to an almost complete halt there after the passage of Assembly Bill 284, which made significant changes to Nevada’s foreclosure laws. The increase this month is directly attributable to new foreclosure starts by Fannie Mae, which is one of very few lenders to have filed any new foreclosures in Nevada since September 2011. Even with the increase by Fannie Mae it is still homeowner associations that are initiating the vast majority of foreclosures in Nevada.
ForeclosureRadar
Has the Market Stabilized?
Stockton Real Estate – Dave Thurman
Location…Location…Location! Have you ever read or heard those 3 words? The real estate market will vary from state to state, from SoCal to Northern California, from the Bay Area to the San Joaquin Valley. Also, every city has it’s best and worst neighborhoods. Finally, my MLS (MetroList) is working with Top Producer’s Market Snapshots. I ... [Read More]
Location…Location…Location! Have you ever read or heard those 3 words? The real estate market will vary from state to state, from SoCal to Northern California, from the Bay Area to the San Joaquin Valley. Also, every city has it’s best and worst neighborhoods. Finally, my MLS (MetroList) is working with Top Producer’s Market Snapshots. I have been requesting, waiting and hoping for this program for my clients and customers for several years. Get This Week’s Local Market Conditions!
Hey Investors! Check out the latest from ForeclosureRadar… 2011 Foreclosure Activity Ends With a Whimper 01/11/2012 – Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announcements of holiday moratoriums. California and Washington actually ... [Read More]
Hey Investors! Check out the latest from ForeclosureRadar…
2011 Foreclosure Activity Ends With a Whimper
01/11/2012 – Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announcements of holiday moratoriums. California and Washington actually saw modest increases. Also surprising was a drop in the time to foreclose across most states, since foreclosures typically get extended over the holidays. [Read More]
Stockton Real Estate – Dave Thurman
