California Foreclosure Activity Drops in February
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 48,422
California properties in February, a 6 percent decrease from January and 14 percent below the level reported for February 2011, according to the latest RealtyTrac® U.S.
Foreclosure Market Report
Here are some of the most recent Investment opportunities in the area.
Q1 2012 Foreclosure Activity Lowest Since Q4 2007
Foreclosure filings were reported on 572,928 properties during the first quarter of 2012, down 2 percent from the previous quarter and down 16 percent from the first quarter of
2011, according to the RealtyTrac U.S. Foreclosure Market Report. The first quarter total was the lowest quarterly total since the fourth quarter of
2007, when 527,740 properties with foreclosure filings were reported. The report shows one in every 230 U.S. housing units with a foreclosure filing during the quarter. Foreclosure filings were reported on 198,853 U.S. properties in March, a 4 percent decrease from February and a 17 percent decrease from March 2011.
Short Sales Outpace Foreclosure Sales in Many Markets
An important shift is occurring in the real estate market: Short sales are outnumbering foreclosure sales in many markets. In Q4 2011, there were 88,303 short sales, also known as pre-foreclosure sales, accounting for 10 percent of all sales during the fourth quarter, according to the latest RealtyTrac U.S. Foreclosure Sales Report. Short sales increase 15 percent from year ago. Meanwhile, bank- owned (REO) sales decrease 12 percent from year ago. While third parties purchased a total of 115,777 REO homes in the fourth quarter, that share was down 10 percent from the previous quarter.
To know more about this please click here.