U.S. foreclosure filings down 15% from a year ago

September 18, 2012 by · Leave a Comment
Filed under: REO News 

From the trend line it looks like we may have bottomed at this point.   Bank REOs and foreclosure has stabilized a bit in the U.S.  Some of the hardest hit markets like Nevada has seen the largest decreases overall.  You still need to keep in mind we have zero percent interest rates and QE3 in effect that is giving additional support.

I would keep eyes on the labor number most importantly.  When people get back to work and feel confident their job is of a more permanent basis, they will want too look for value in the real estate market compared to renting.  Regardless this is good news and hopefully we have a positive trending continuing so we can clear the market.   New housing starts is another important statistics.

Examiner – Some of the biggest state REO decreases were in Nevada (76 percent), Oregon (57 percent), Virginia (56 percent), Washington (46 percent), Utah (46 percent), Massachusetts (43 percent), Pennsylvania (43 percent), and Colorado (43 percent).

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Foreclosure filings drop to five-year low in U.S. recovery

May 16, 2012 by · Leave a Comment
Filed under: Real Estate News 

Bloomberg – Foreclosure filings in the U.S. fell to a five-year low last month as lenders sought to avoid seizing property and a housing recovery showed signs of taking hold.

The number of default, auction and seizure notices sent to homeowners in April totaled 188,780, down 14 percent from a year earlier and 5 percent from the previous month, according to RealtyTrac Inc. It was the lowest tally since July 2007, before the onset of the biggest housing crash in seven decades, the Irvine, California-based data seller said today in a report.

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U.S. mortgage delinquency rate increases to 9.2% in May

July 8, 2010 by · Leave a Comment
Filed under: REO News 

Home mortgage delinquency rates increasing 2.3% from April and a whopping 7.9% from last year is nothing to dismiss.  With unemployment benefits expiring and the temporary jobs from the census going away, we should expect this to increase from here as well.

With these trends continuing, there is a growing possibility that we will see a double-dip recession starting this fall.  Politicians are aware of this and growing talk of a second stimulus package or a jobs bill to try and prevent this.  This will be futile because we will just be creating more debt and the amount of GDP per dollar continues to decline.

I see the recession as a benefit in disguise if we let it takes its course and lets companies and real estate fail so we can get prices to a point where the average wages can support not just the wealthy portion of the population.  Like I have said, we need to measure the wealth of our society from the base not the peak.

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U.S. foreclosure filings rise in 6% in February

March 12, 2009 by · Leave a Comment
Filed under: Real Estate News 

 

U.S. home foreclosure activity resumed its upturn in February after a brief dip, despite numerous programs meant to quell the record pace of failing mortgages, RealtyTrac reported on Thursday.

 

Filings, which include notice of default, auction sale or bank repossession, rose 6 percent in February after slipping 10 percent in January, and leaped 30 percent from a year ago, the Irvine, California-based real estate data firm said.

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