realtytrac: Foreclosure Auction Sales Surged In October 2013
- 12/21/13 05:04 AM
With the 4th quarter of 2013 under way and talk continuing about recovering prices, Foreclosure Auction sales are a category of national housing sales not typically discussed frequently. One fact many may not have noted was, October 2013 picked up the pace on foreclosure auction sales. RealtyTrac, a national foreclosure tracking and data firm recently released its October 2013 Residential and Foreclosure Sale Report. This report includes all transactions of condos, townhomes and single family homes nationally, including bank owned property and foreclosure auctions. According to RealtyTrac, the projected yearly pace is 5,649,965 total residential sales. This is 13% higher … (0 comments)
realtytrac: 41% drop in pre-foreclosures in 2012
- 05/30/13 10:31 PM
The 5 major lenders report their 2012 pre-foreclosure rate has dropped a whopping 41%! The Big Five looked at their combined notice of default, (NOD) and notices of trustee sales, (NTS) and compared them to that of a year ago according to Reality Track. Bank of America reports a 63% reduction from last year. Citi is showing a 40% reduction from last year’s totals. However, when comparing the numbers of pre-foreclosure filings in judicial states vs. non-judicial states there seems to be an increase. Collectively, Bank of America, Citi, Wells Fargo, JP Morgan Chase, and Ally are showing a 26% increase … (0 comments)
realtytrac: Vacant Homes Hurt Neighborhoods Nationwide
- 09/03/12 08:40 PM
In the prior month, the Los Angeles city attorney’s office filed a complaint accusing a major bank for failing to maintain more than 170 foreclosed properties in the city. The attorney’s office claimed that the properties were blighting neighborhoods, decreasing property values and encouraging crimes in the area. This is a scene that has been played out around the country as activists take banks to courts claiming that their communities have deteriorated in the wake of neglected foreclosures.
At the height of foreclosures, there were over 1 million homes owned by financial lenders. According to RealtyTrac, there are now … (3 comments)
realtytrac: Home Ownership Rate Expected To Decline Until 2015
- 07/21/12 04:02 AM
The U.S. Census Bureau reported that home ownership has dropped a full percent this past year. According to an article from dsnews.com, the 65.4 percent rate is the lowest percentage since 1996. Paul Diggle of Capital Economics attributed the continuing fall of home ownership to the foreclosure crisis and the inability of young households to secure credit. The CE report also stated that more foreclosures would cause the number to fall to 64 percent by 2015.
Although Realtytrac.com reports that foreclosure rates are 11% below their rate this time last year, America as a whole still experienced a 2% … (1 comments)
realtytrac: "And, They're Off" Illinois Foreclosures race away
- 06/17/12 12:27 AM
"And....they're off!" A familiar call heard of the announcer as a horse racing event commences. And it seems, this is becoming a familiar call of the foreclosure activity, specifically in Illinois and Chicago. Based on a recent report from RealtyTrac, foreclosure activity rose 29% in May 2012 compared to the April 2012 and is 54% higher than May of 2011. Illinois had 16,318 foreclosure filings last month. Filings include default notices, auction-sale notices and bank repossessions. How does this stack up for the individual homeowner in Illinois? The filings represent one in every 325 housing units in … (1 comments)
realtytrac: Chicago Foreclosures Up
- 04/13/12 11:01 PM
Baseball season may just be getting started, but foreclosure activity is in full swing in the Windy City. Foreclosures are up locally in Chicago. According to RealtyTrac, the 14-county Chicago area, 35,454 homes received foreclosure-related filings in the first quarter, up 16.5 percent from the fourth quarter of 2011 and 17.5 percent from the same period a year earlier, according to RealtyTrac. Says Geoff Smith, executive director of the Institute for Housing Studies at DePaul University: "We're going to be in a mess for a while.” I couldn't have said it better myself. Of course, the fallout of the foreclosure mess … (0 comments)
realtytrac: 21% of 2011 Illinois Housing Sales were Foreclosures
- 03/18/12 10:49 AM
According to RealtyTrac, more than 26 percent of all Illinois home sales in the fourth quarter 2011 were bank-owned or in some stage of foreclosure. Hence, distressed real estate sales were still a noticeable piece of the real estate action. According to data from Irvine, Calif.-based firm, there were 7,537 foreclosure-related sales in Illinois during the fourth quarter. That period was an increase of 15.3% over the prior quarter 2011 and 21.8% increase from the fourth quarter of 2010. Nationwide, sales of homes in some stage of foreclosure or bank-owned accounted for nearly one quarter (approximately 24%) of all fourth-quarter sales. … (0 comments)
realtytrac: Foreclosure Trends Appear To Be Improving
- 01/21/12 08:53 AM
RealtyTrac® (www.realtytrac.com) released the 2011 U.S. Foreclosure Market Report™, showing 2,698,967 foreclosure filings. Filings consist of default notices, scheduled auctions and bank repossessions. This activity was a decrease of 34 percent as measured in total properties from 2010. The activity was a decrease of 33 percent from the 2009 total The activity was a decrease of 19 percent from the 2008 total. So, what does that mean? Well, I am not a math major, but it sure seems like things are improving...or as my niece says, "They're getting less bad". As of the end of 2011, the report indicated that 1.45 … (2 comments)
realtytrac: Finally Some 'Good' Foreclosure News
- 01/16/12 03:18 PM
RealtyTrac released their year-end report on the nationwide housing markets and all-in-all things are some showing signs of improvement. Granted, some of them are artificial (robo-signing) led to a halt in foreclosures which as they resume will push up 2012 rates, but otherwise, there are signs that the high-water marks are receding. For instance, the 2011 total of nearly 1.9 million properties with a foreclosure filing is a huge number BUT, in comparison to the past 4 years, it is the lowest reported total since 2007. Furthermore, it is 34% below 2010, 33% below 2009, and 19% below the 2008 total. … (4 comments)
realtytrac: Cold November Rain Anything But Cold
- 11/11/11 10:03 PM
Location, Location, Location is a mantra repeated over and over and over. And for many parts of the country, the changing of the seasons from Fall to Winter brings a traditional slow down in real estate sales activity. Yet, as the market moves into the 'cold months' in many of America's northern markets, the mantra seems to be Price, Price, Price (with a wink to Location). Earlier this week, I was chatting with Bardan Azari, Cherry Picker Investments, a Chicago-based foreclosure investment advisory firm, and he noted that there has been a significant increase in foreclosure sales in Northern Illinois. Granted, … (3 comments)
realtytrac: WooHoo! Foreclosures Decline, But REOs spike in NY, IL, GA, & VA
- 08/11/11 04:54 AM
Based on the recent foreclosure activity report from RealtyTrac, things are improving...at least for the time being. Given the information that RealtyTrac analyzed and report on, there are fewer foreclosures moving forward through the system, but it is more due to delays and other tactics than it being due to improvements in the housing market. Some good news in the report is that foreclosure filings were down in all categories. Contrasting that good news was information from RealtyTrac that lenders repossessed a total of 67,829 properties (REO) in July. The overall total of repossessions declined, but there was a spike … (0 comments)
realtytrac: Got Too Many Foreclosures, Just Demolish A Couple!
- 08/05/11 11:03 AM
News this past week that Bank of America is preparing to demolish foreclosed properties, should really come as no surprise for those that are well versed in the statistics and implications of highly-concentrated areas where foreclosures are the norm. Yet, when that typical person reads that Citicorp, Wells Fargo and JP Morgan Chase, as well as Fannie Mae, are all considering the same thing, it can be a cause for alarm. Interestingly, the stats offered by RealtyTrac indicate that one of every 77 homes were in some stage of foreclosure as of June 2011. Of course, the number of homes … (1 comments)
realtytrac: Foreclosure Update: Good News Chicago, We Didn't Make The Top 20!
- 08/03/11 07:52 AM
At the end of the second quarter, RealtyTrac released their survey of major metropolitan areas and the respective foreclosure activity. Overall, the data is starting to show some improvement with 84% of US Metro areas posting lower foreclosure activity! Nevada, California and Arizona accounted for all ten of the Top 10 spots on the Foreclosure Market Report. The biggest mover was Floriday who, in the past year, moved from having 9 cities in the top 20 to having just one. Additionally, Seattle had the largest rise in the rankings from 109th to 91st. James J. Saccacio, chief executive officer of … (0 comments)
realtytrac: Foreclosures Decline Nationally
- 07/20/11 02:50 PM
Based on a recent report from RealtyTrac, the foreclosure actions in the U.S. by banks fell in June 2011. The number of homes taken back by banks in June 2011 fell 19.5% compared with June 2010. Specifically, the report noted that investigations into repossession and mortgage servicing practices continue to slow the country's foreclosure machinery. Every day, more and more lawyers are seeing the potential dollar signs associated with foreclosure defense and steering cliens through short sale transactions. Then, when adding in the 24-7 media as well as the internet, the proliferation of information available to citizens and they become more … (2 comments)
With the 4th quarter of 2013 under way and talk continuing about recovering prices, Foreclosure Auction sales are a category of national housing sales not typically discussed frequently. One fact many may not have noted was, October 2013 picked up the pace on foreclosure auction sales. 
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