Investor purchases soar in January

Real Estate Broker/Owner BRE# 01353757

Investor purchases soar in January
Sales to third parties, typically investors, rose significantly in January, according to a report by ForeclosureRadar.  California saw the most activity, with investors purchasing 3,964 properties for $766.2 million. This is the fourth largest month on record in California, and the busiest since March of 2011.

Despite what appears to be significant percentage increases in foreclosure starts in California, Nevada and Washington, these increases barely offset the declines seen over the holidays. Compared with January one year ago, foreclosure starts are significantly lower.

“January’s numbers should put to rest any notion that we will see a wave of foreclosures in 2012, at least in the western states that we cover,” stated Sean O’Toole, founder and CEO of ForeclosureRadar. “Foreclosure Starts remain near record low levels, significantly lower than a year ago, when many banks still had self-imposed moratoriums in place due to the robo-signing scandal. Add to that a foreclosure timeframe of more than 8 months, and there is little chance of a wave this year even if all the banks started the foreclosure process en masse tomorrow.”

In January, foreclosure starts in California rose 15.5 percent and foreclosure sales increased 14.6 percent.

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Broker, Agent, or/and MLS provider does not guarantee the accuracy of: 1- the reports, charts, articles, and also the information from links to other websites. 2- Square footage, lot size or other information regarding the conditions or features of properties provided by the seller or obtained from Public Records or other sources as presented in this website. Many articles may be time and date sensitive so please always look at the date posted. Consult your tax advisor, financial planner, attorney, or/and appropriate professionals concerning your personal specifics. Interested parties are advised to independently verify the accuracy.                                                            

                                                          Frank Moham  DRE LIC. #01353757




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