Friday, April 20, 2012
Thursday, March 1, 2012
California Foreclosure Activity Down in 2011
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 428,045 California properties in 2011, down 22 percent from a year ago and 32 percent below the level reported in 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
Here are some of the most recent Investment opportunities in the area.
January 2012 U.S. Foreclosure Market Report: Frozen-Up Foreclosure Process Begins to Thaw
Foreclosure filings were reported on 210,941 U.S. properties in January, a 3 percent increase from the previous month but still down 19 percent from January 2011, according to the RealtyTrac U.S. Foreclosure Market Report. “Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac.
The Road to Flipping 1,000 Homes
I have always been a bit of a gambler and come from an entrepreneurial upbringing; a childhood friend in the mortgage business asked me to head down to a local foreclosure auction and meet Mike Baird. I cautiously walked up the courthouse steps for the first time and inquired around for Mike so we could shake hands for the first time. I was not prepared for what I was about to witness; an ordinary and unassuming individual approached, proclaimed “buyer beware”, and start firing off addresses of properties impending sales at the auction. Where was the courtroom, the judge, a sheriff?
For more information please visit at clarinrealty.com
Wednesday, January 25, 2012
Foreclosure Market Trends Report
California Foreclosure Activity Rises in November
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 63,689
California properties in November, a 15 percent increase from October and 11 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S.
Foreclosure Market Report.
Here are some of the most recent Investment opportunities in the area.
2011 Year-End Foreclosure Report: Foreclosures on the Retreat
Foreclosure filings were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total properties from 2010, according to the RealtyTrac Year-End 2011 U.S. Foreclosure Market Report. Foreclosure activity in 2011 was the lowest since 2007. The report also shows that 1.45 percent of U.S. housing units (one in 69) had at least one foreclosure filing during the
year, down from 2.23 percent in
2010, 2.21 percent in 2009, and
1.84 percent in 2008. Total U.S. foreclosure activity and the U.S. foreclosure rate in 2011 were both at their lowest annual level since 2007.
Why Lenders Have Begun To Accept Foreclosure Write- Offs
The term "cramdown" used to be a dirty word in real estate, an expression meaning that a court would change loan terms — and not in a way that lenders liked.
If you want more information then please visit at noreleendemesa.com
California Foreclosure Activity Rises in November
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 63,689 California properties in November, a 15 percent increase from October and 11 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
The Golden State maintained its position as the state with the second highest foreclosure rate, reporting one in every 211 California housing units with a foreclosure filing in November — nearly three times the national average.
California continues to lead the nation in terms of total properties with foreclosure filings by a large margin. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place, tallying 12,327 properties with foreclosure filings.
The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.
San Bernardino County posts top foreclosure rate in the state for November
One in every 119 housing units in San Bernardino County had a foreclosure filing in November — 4.9 times the national average and 1.8 times the state average — the highest foreclosure rate of all California counties for the month. San Joaquin County had the second highest rate of one in every 120 housing units with a foreclosure filing during the month — 4.8 times the national average and 1.8 times the state average. Riverside County had the third highest rate of one in every 130 housing units with a foreclosure filing during the month — 4.5 times the national average and 1.6 times the state average.
Southern California stays atop the foreclosure heap in November
Four Southern California counties topped the list for highest foreclosure totals in the state for November. Los Angeles County continued to lead all counties by a large margin, reporting 13,276 properties with foreclosure filings for the month. Riverside County remained second highest, reporting 5,969 properties with foreclosure filings. San Bernardino County was third once again, reporting 5,770 properties with foreclosure filings. Fourth highest was San Diego County, recording 4,484 properties with foreclosure filings. Sacramento County was fifth highest, tallying 3,797 properties with foreclosure filings for the month.
State the nation’s largest contributor to total foreclosure activity in November
California accounted for 28 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.
“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Arizona and Massachusetts actually posted year-over-year increases in foreclosure activity in November.
For more information: clarinrealty.com
Thursday, December 22, 2011
California Foreclosure Activity Rises in October
Statewide filings up 7 percent from September; Rate second highest
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 55,312 California properties in October, a 7 percent increase from September, but 17 percent below the level reported for October 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
The Golden State maintained its position as the state with the second highest foreclosure rate, reporting one in every 243 California housing units with a foreclosure filing in October.
San Bruno California continues to lead the nation in terms of total properties with foreclosure filings by a large margin. Second ranked Florida reported 33,073 properties with foreclosure filings during the month. Third place was Michigan, where 16,106 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,522 properties with foreclosure filings while Arizona took fifth place, tallying 10,626 properties with foreclosure filings.
The remaining states that make up the nation’s top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the nation’s total foreclosure activity for the month.
San Joaquin County posts top foreclosure rate in the state for October
One in every 143 housing units in San Joaquin County had a foreclosure filing in October — 3.9 times the national average and 1.7 times the state average — the highest foreclosure rate of all California counties for the month. Calaveras and Stanislaus counties had the second highest rate of one in every 148 housing units with a foreclosure filing during the month — 3.8 times the national average and 1.7 times the state average. Yuba and Solano counties had the fourth highest rate of one in every 150 housing units with a foreclosure filing during the month — 3.8 times the national average and 1.6 times the state average.
Southern California stays atop the foreclosure heap in October
Five Southern California counties topped the list for highest foreclosure totals in the state for October. Los Angeles County continued to lead all counties by a large margin, reporting 11,498 properties with foreclosure filings for the month. Riverside County remained second highest, reporting 4,949 properties with foreclosure filings. San Bernardino County was third once again, reporting 4,476 properties with foreclosure filings. Fourth highest was Orange County, recording 3,866 properties with foreclosure filings. San Diego County was fifth highest, tallying 3,790 properties with foreclosure filings for the month.
State the nation’s largest contributor to total foreclosure activity in October
California accounted for 24 percent of the 230,678 properties with foreclosure filings reported nationwide in October. Total U.S. activity increased by more than 7 percent from September, but was down nearly 31 percent from the level reported in October 2010. One in every 563 U.S. housing units received a foreclosure filing during the month.
“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected foreclosure paperwork and processing problems,” said James Saccacio, chief executive officer of RealtyTrac. “However, recent state court rulings and new state laws keep changing the rules of the foreclosure game on the fly, creating more uncertainty in the housing market and threatening to prolong the road to a robust real estate recovery.”
For more information please click here.
Tuesday, November 29, 2011
Take action now to turn it around in 2012
Recent economic upheaval has taken a hefty toll. Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances.
Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.
With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their Ingleside Terrace Home than they could net for it in today’s market, homeownership for many has become a financial liability. Not being able to make payments on a home that you can’t afford to sell feels like an awful trap, but the fact is, there are solutions—and foreclosing on your mortgage is not one of them.
Loan modification is an option for many and banks are increasingly willing to negotiate short sales. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.
As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, it is my mission to give homeowners the gift of a fresh start.
Contact me TODAY and let’s get started.
info@clarinrealty.com
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