Bank Reposessions Top 100,000 In A Month For The First Time Ever
October 14th, 2010 categories: Buyers, Foreclosures, Market Trends, Sellers, Statistics
The number of foreclosure filings rose 3 percent in September, according to foreclosure-tracking firm RealtyTrac. The term “foreclosure filing” is a catch-all word for housing, comprising default notices, scheduled auctions, and bank repossessions.
September marked the 19th straight month that the number of filings topped 300,000, and the first month in which 100,000 repossessions were logged.
As usual, a small number of states dominated the national foreclosure figures, accounting for more than half of all repossessions.
- California : 17% of all repossessions
- Florida : 13% of all repossessions
- Michigan : 7% of all repossessions
- Arizona : 7% of all repossessions
- Texas : 5% of all repossessions
- Georgia : 5% of all repossessions
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How Big Is The Foreclosure Market? It Depends On Where You Live, Of Course.
August 16th, 2010 categories: Foreclosures
Foreclosure filings rose 4 percent nationwide last month versus June, according to foreclosure-tracking firm RealtyTrac.com. For the 17th straight month, total filings topped 300,000.
A foreclosure filing is defined as default notice, scheduled auction, or bank repossession.
As with most months, just a handful of states dominated foreclosure activity nationwide.
- California : 14.9 percent of all activity
- Florida : 11.6 percent of all activity
- Arizona : 6.4 percent of all activity
- Michigan : 6.2 percent of all activity
- Georgia : 6.1 percent of all activity
- Texas : 4.9 percent of all activity
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Foreclosure Activity Slows Again In June 2010
July 19th, 2010 categories: Foreclosures
313,841 foreclosure filings were made in June, according to foreclosure-tracking firm RealtyTrac. The figure represents a 3 percent drop from May and 7 percent drop from June of last year. However, foreclosure filings remain relatively high nationwide.
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Bank Reposessions Reach Record Levels For The Second Straight Month
June 17th, 2010 categories: Foreclosures, Knoxville Short Sales, Market Trends, Sellers
According to foreclosure-tracking firm RealtyTrac.com, bank repossessions reached record levels for the second straight month in May, topping 93,000 properties nationwide.
As compared to May 2009, all 50 states now show an increase in annual REO activity.
Data like that won’t surprise today’s active home buyers in Farragut. Foreclosed homes are prevalent, available and accounted for one-third of all home resales made in April.
Furthermore, total foreclosure actions — the sum of REO, default notices, and foreclosure auctions in May — topped 300,000 for the 15th straight month.
Foreclosures remain a huge influence on the housing market.
However, two interesting trends emerged in the data:
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Foreclosure Activity Slows For The First Time In Several Years..But Is The Worst Over Yet??
May 14th, 2010 categories: Foreclosures, Knoxville Short Sales, Sellers
The national foreclosure rate is finally falling. But there is still a back log of homes where homeowners are behind on their mortgage payments. The shadow inventory is large and still going. These are homes in Knoxville and around the country where the homeowners are behind on their mortgage payments and trying to do a loan modification or considering a short sale. I personally have seen an up tick in my business with area Knoxville homeowners who want to sell their home on a short sale in order to avoid foreclosure
According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010.
2 percent may not seem like much, but it’s the first time in the history of the RealtyTrac report that the annual foreclosure rate has dropped.
To be sure, foreclosure rates remain elevated — more than 300,000 were reported last month, but default notices appear to be approaching a plateau.
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Foreclosures Per Capita | February 2010
March 11th, 2010 categories: Buyers, Foreclosures, Knoxville Short Sales, Market Trends, Real Estate Investing, Statistics
According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing.
It’s a small improvement from January and a just 6 percent increase over February 2009.
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