housing trends: Kern County End of Year Foreclosures Update - 01/19/09 12:11 PM
As an appraiser in Bakersfield, the rate of foreclosures is an important statistic to watch for our market conditions. Again, for the purposes of this post, foreclosures are considered to be those properties where a Trustee's Deed has been recorded, indicating that the lender has taken possession of the property. In November we posted that the rate of foreclosures in Kern County, CA was on the decline. Well, the decline came to a soft stop. The foreclosure rate inched up in November to 550 from 520 foreclosures in October. Not too bad. Well below the high of 1,000 in August. However, … (1 comments)
housing trends: Foreclosures on the Decline in Kern County - 11/18/08 12:31 PM
First of all, when I say foreclosure, I'm referring only to those properties where a Trustee's Deed has been recorded, or if it is on the market, is listed as an REO. Based on my data compiled from local listing services and the county recorder, the number of foreclosures has been declining for the past two months. That's not a significant amount of time, but it rules out that the first month decline was a fluke. For 23 months the number of foreclosures recorded each month were steadily increasing. September was the first month with fewer foreclosures than the prior month. … (0 comments)
housing trends: Frustrations with underwriters - an appraiser's perspective - 10/29/07 10:38 AM
Okay, this has got to be one of my biggest pet peeves in appraising. I spend time on my reports, I don't churn and burn appraisals. I do my research, look at the sale statistics, find the best comps and put meaningful data into my reports. In the neighborhood section of the report there are some checkboxes for housing trends: Property Values, Demand/Supply, and Marketing Time. All three lines have three checkboxes each to indicate the trends. If I check the box that indicates property values are declining I back up that decision with statistics in one of the paragraphs below. For instance, … (15 comments)
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As an appraiser in Bakersfield, the rate of foreclosures is an important statistic to watch for our market conditions. Again, for the purposes of this post, foreclosures are considered to be those properties where a Trustee's Deed has been recorded, indicating that the lender has taken possession of the property. In November we posted that the rate of foreclosures in Kern County, CA was on the decline. Well, the decline came to a soft stop.
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