Real Estate Recovery Ormond By The Sea, Florida – foreclosures are down.

 

Volusia County Florida , which includes Ormond Beach and Ormond By The sea, has seen a drop of almost 60% in foreclosures in the first half of 2011 compared to the first halfOld Glory of 2010.  The Daytona Beach News Journal reported that for July, 2011 foreclosures were down 60% in Volusia County as compared to July 2010.  California based RealtyTrac reported July 2011 as the 10th consecutive month of year over year foreclosure declines nationwide. 

While there are a number of possible reasons for the decline, the good news is that many more home owners are able to stay in their homes and avoid foreclosure.  As time goes by the hope is that many of these homeowners will be in a better financial position and possibly stay in their homes,  reducing the number of distressed properties on the market and that is good news for the real estate recovery in Ormond By The Sea Florida. 

Fewer distressed properties on the market means less downward pressure on values and paves the way toward stabilizing the real estate market.

Real Estate Recovery Ormond By The Sea, Florida – foreclosures are down.  Good news.

 

Have a great day

Al Raymondi
Ocean View Realty Group
1350 Ocean Shore Blvd. Suite A
Ormond Beach, FL 32176
Ormond By The Sea Florida sales and rentals of homes and condos www.ovrealty.com 
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386-441-8245
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Serving Ormond Beach and Ormond By The Sea in the Daytona Beach Florida area from the same location since 1991.

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13 Comments on Real Estate Recovery Ormond By The Sea, Florida – foreclosures are down.

AUG
16
2011
1,516,378 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Good morning, Al....that's a great sign of recovery when foreclosures are down....let's hope it continues....
7:42am • #1
1,440,055 Points 26 Featured Posts Outside Blog Called Shot Master

Good to hear that your market is recovering as buyers go for the available bargains and the very low mortgage interest rates.

 Blooming for you!
7:48am • #2
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Thanks for stopping by to read my blog and to comment this morning Barbara and Roy. 

 

Barbara, we are seeing some signs of recovery and yes, we really need it to continue.

 

Roy, interest rates are down and values are down and with fewer foreclosures the inventory is coming down.
8:32am • #3
1,108,786 Points 72 Featured Posts

Good Morning Al, This is "the good news" and fewer foreclosures shows there is a sign of the real estate recovery forthcoming!
10:27am • #4
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Thanks Larry & Sheila let's hope we have continuous good news every month.
10:34am • #5
1,516,501 Points 112 Featured Posts Localism Sponsor Outside Blog Called Shot Master

When foreclosures are down, that's always a good thing.  Seems here in Northern Virginia they've been replaced by the Short Sale.
11:06am • #6
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Thanks Chris Ann, short sales here seem to havefizzled out since many buyers are no longer willing to wait for the unknown bank processing.
11:19am • #7
522,834 Points 10 Featured Posts Outside Blog Called Shot Master

Good to hear!  I also read this week that in Wright County Minnesota (where I live), we are almost double the national average of foreclosures last month close to 600.  The average is around 325 per month per county.  And we are an average-sized mostly rural county with no major cities.
9:36pm • #8
AUG
17
2011
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Thanks for commenting Ron, once all the foreclosures are marketed we may be able to get back to a more stable market.
6:43am • #9
638,717 Points 39 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

☂Al,  it is good news when foreclosures are down...  Are the numbers of filings down or the is there a slowing of banks releasing them into the market.   One thing that's starting to worry me is the 'lack' of foreclosures coming on the market here in our area.  There's something going on that's not evident yet.  As I mentioned in another post, there will always be delinquencies - that is a by product of credit lending - it's when the % gets so out of whack that's the problem... 

Let's hope it's just that the banks are working things out with upside down customers and not foreclosing on them!  That would be great news foreveryone!!
Pamela
10:33am • #10
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Pamela, the filings are way down and there may be some that banks are not releasing into the market but that does not appear to be a significant number.  The filings being down is the best news if it is because homeowners are getting to stay in their homes.
12:35pm • #11
AUG
19
2011
227,249 Points 2 Featured Posts Attended Rain Camp Called Shot Master

Al, It fells good to know that less people are in the Foreclosure situation.
8:58am • #12
685,820 Points 22 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Thanks Anna, we can only hope the trend continues and gets us out of this mess.
8:59am • #13


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Al Raymondi-Ormond By The Sea Florida home and condo sales and rentals

Ormond Beach, FL

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Al Raymondi, Ocean View Realty Group in Ormond Beach Florida

Address: 1350 Ocean Shore Blvd., Suite A, Ormond Beach, Fl, 32176

Office Phone: (386) 441-8245

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