According to Default Research, there are substantial signs of pre foreclosure statistics improving all over the research areas including Las Vegas, Miami and Phoenix. A 30% decrease of pre foreclosures is in Miami-Dade County , but it's not the only with the positive changes. This was aided by new laws encouraging mortgage modification plans and short sales. Another good news is, that banks seem to become more cooperative and efficient regarding short sales, which is also easing the foreclosure crunch. Finally, homeowners can modify their mortgages to stay in their home, with the help of continuous education and assistance. The statistics can be seen below with comments from Default Research founder Serdar Bankaci.

Wayne County, Michigan

Wayne County pre foreclosure numbers show a slight, 4.13 % increase in Q2. The number of Trustee Sales published in Q2 was 6,124, higher than the 5,881 published in Q1. Detroit has the title for the hardest city with 2,111 Trustee Sale notices. Detroit is followed by Dearborn with 474, Redford with 272 and Westland with 272.

According to Bankaci...

"The short term housing indicators in Wayne County fair better than the other hard hit regions in the extensive Default Research coverage area. Second quarter median home values remain slightly upward sloping while inventories have remained level. I would be hard pressed to say the worst is over for Detroit, but at least from a real estate prospective, it may be that we see some stability in the rest of 2010."

 Clark County, Nevada

Clark County pre foreclosures dropped by just over 10% in the first quarter of 2010,when Trustee Sale registered 10,841 pre foreclosures.The second quarter dropped to 9,667. The top of the list here is Las Vegas, where we Trustee Sale registered 3,616 pre foreclosures, followed by North Las Vegas with 616 and henderson at 583.

According to Bankaci:

"After two years of steady decline in home prices, forward looking indicators show that median home prices did stabilize in the second quarter of 2010. However, after home prices were at an all time low in the early part of quarter one in 2010, it should be noted that home inventories have started to grow again in the second quarter of 2010." 

Los Angeles County, CA

Los Angeles County pre foreclosure notices show and increase just under 15% from Q1 to Q2. While in Q1 Trustee Sale registered 24,320, Q2 brought 27,881 notices. 40% of these notices were Notice of Default, the initial stage of the foreclosure process and 60% were Notices of Trustee Sales which is the final stage in the foreclosure process. 92% of the foreclosure filings are residential properties in Los Angeles - single family homes and condominiums, 3% are multi-unit and apartment buildings and the rest of 5% are commercial and industrial properties.

According to Bankaci:

"Short term market indicators are showing that median home prices will remain stable in the second quarter of 2010, however home inventories have been increasing in the second quarter of 2010. Default Research also expects to see some decreases in home values through 2010."

Eureka Realty Network is a nationwide network of real estate, financing and legal professionals with a mission to revitalize the real estate market. For further information please visit www.EurekaRealtyNetwork.com