aptos real estate: Santa Cruz Notice of Defaults
- 12/10/09 08:49 AM
One of the leading indicators on how well our local real estate market is doing can be determined by the number of Notice of Defaults. As seen by the graph below, we have continued to hover between 150 and 200 NODs from almost the beginning of the year. Thus the ongoing trend of bank foreclosures, short sales, and REOs has been steady through out the year and we have seen little improvement in the real estate market. Therefore Banks are continuing to build an inventory of bank owned property (REOs). This is good news for Buyers for several reasons. One, we can expect many more … (0 comments)
aptos real estate: Banks Control Santa Cruz Real Estate Market
- 11/18/09 09:57 AM
It was just a few years ago, we rarely saw homes being foreclosed by banks and later sold by banks on the MLS as REOs (Bank Owned Properties). On top of that, Short Sales were unheard of in those markets of yester year. However in today's market, a good percentage of homes are REOs or Short Sales and they all have one thing in common. These properties are bought and sold by banks or the banks have final approval of the property sale. As of last month, banks controlled over 50% of the real estate transactions in Santa Cruz County. For the most part, Bank control of transactions … (1 comments)
One of the leading indicators on how well our local real estate market is doing can be determined by the number of Notice of Defaults. As seen by the graph below, we have continued to hover between 150 and 200 NODs from almost the beginning of the year. Thus the ongoing trend of bank foreclosures, short sales, and REOs has been steady through out the year and we have seen little improvement in the real estate market.;)
;)
