This email was sent to you by:
Anonymous |
|
Mortgage News Daily
|
Message: YOUR MESSAGE HERE |
Email alerts, such as this one, are a
free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please
register to join our community.
Register with Mortgage News Daily - Registration is free and offers many benefits.
Manage your Email Alerts - Once you're registered, you can manage all MND email alerts on one page, turning subscriptions on or off with one click.
About MND:
Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.RealtyTrac: Foreclosure Filings Down 8% in November
For the fourth straight month foreclosure activity nationwide has
declined according to information released by RealtyTrac. Despite this promising news, RealtyTrac also
reported that the rate of defaults is still well above that recorded one year
ago.
Foreclosure filings which include default notices, scheduled
foreclosure auctions and bank repossessions were reported on 306,627 properties
during November. This is a decrease of
nearly 8 percent from the October figures and shows that one in every 417 U.S.
households is affected. This number is
18 percent higher than that reported in November, 2008.
James J. Saccacio, chief executive officer of RealtyTrac, an Irvine,
California company that bills itself as the nation's leading online marketplace of foreclosure properties, said,
"November was the fourth straight month that U.S. foreclosure activity
has declined after hitting an all-time high for our report in July, and
November foreclosure activity was at the lowest level we've seen since
February. Loan modifications and other foreclosure prevention efforts, along
with the recently extended and expanded homebuyer tax credit, are keeping a lid
on the most visible symptoms of the nation's ailing housing market - foreclosures
and home value depreciation. This is providing a welcome respite for the real
estate industry, but a full recovery will only come when unemployment recedes
to normal, healthy levels and when availability of credit reaches a more
rational balance between the extremes of the past few years."
Even though foreclosure
activity there declined by 33 percent in one month, Nevada continued to lead
the nation with 9,295 or one in every 119 housing units receiving a foreclosure
filing in November. This is 3.5 times
the national average. Nearly 53,000 Florida
residents (one in every 165 homeowners) received foreclosure notices, an
increase of nearly 2 percent since October while California slipped from second
to third place nationwide with 74,000 notices or one in every 180 households a
decrease of 13.5 percent since October. Arizona was the fourth most active
state, reversing direction after three straight months of declines. Its foreclosure rate increased almost 8
percent in November with one in every 186 housing units receiving a notice or a
total of over 14,000 foreclosure filings.
The lowest
foreclosure rates were recorded in North Dakota, West Virginia, and Vermont.
California,
Florida, Illinois, and Michigan together accounted for more than half of the
total foreclosure activity in the nation for the second straight month although
both Michigan and Illinois saw declines during the month of nearly 3 percent
and 18 percent respectively.
All stages of foreclosure
activity slowed nationwide. Default
notices were down 8 percent from the previous month but still up 22 percent
from November 2008. Scheduled foreclosure auctions declined 12
percent from the previous month but were still up 32 percent from November
2008, and bank repossessions were unchanged from October and down 2 percent
from November 2008.
The RealtyTrac
U.S. Foreclosure Market Report provides a count of the total number of
properties with at least one foreclosure filing entered into the RealtyTrac
database during the month, broken out by type of filing by state, county and
metropolitan statistical area. Some foreclosure filings entered into the database
during the month may have been recorded in previous months. Data is collected
from more than 2,200 counties nationwide, and those counties account for more
than 90 percent of the U.S. population. The report includes all documents filed in the
three phases of foreclosure, default, auction, and real estate owned. If more
than one foreclosure document is received for a property during the month, only
the most recent filing is counted in the report.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.
This email was sent to you by:
|
Mortgage News Daily
|
 |
Anonymous Anonymous |
|
Message:
YOUR MESSAGE HERE
RealtyTrac: Foreclosure Filings Down 8% in November
For the fourth straight month foreclosure activity nationwide has
declined according to information released by RealtyTrac. Despite this promising news, RealtyTrac also
reported that the rate of defaults is still well above that recorded one year
ago.
Foreclosure filings which include default notices, scheduled
foreclosure auctions and bank repossessions were reported on 306,627 properties
during November. This is a decrease of
nearly 8 percent from the October figures and shows that one in every 417 U.S.
households is affected. This number is
18 percent higher than that reported in November, 2008.
James J. Saccacio, chief executive officer of RealtyTrac, an Irvine,
California company that bills itself as the nation's leading online marketplace of foreclosure properties, said,
"November was the fourth straight month that U.S. foreclosure activity
has declined after hitting an all-time high for our report in July, and
November foreclosure activity was at the lowest level we've seen since
February. Loan modifications and other foreclosure prevention efforts, along
with the recently extended and expanded homebuyer tax credit, are keeping a lid
on the most visible symptoms of the nation's ailing housing market - foreclosures
and home value depreciation. This is providing a welcome respite for the real
estate industry, but a full recovery will only come when unemployment recedes
to normal, healthy levels and when availability of credit reaches a more
rational balance between the extremes of the past few years."
Even though foreclosure
activity there declined by 33 percent in one month, Nevada continued to lead
the nation with 9,295 or one in every 119 housing units receiving a foreclosure
filing in November. This is 3.5 times
the national average. Nearly 53,000 Florida
residents (one in every 165 homeowners) received foreclosure notices, an
increase of nearly 2 percent since October while California slipped from second
to third place nationwide with 74,000 notices or one in every 180 households a
decrease of 13.5 percent since October. Arizona was the fourth most active
state, reversing direction after three straight months of declines. Its foreclosure rate increased almost 8
percent in November with one in every 186 housing units receiving a notice or a
total of over 14,000 foreclosure filings.
The lowest
foreclosure rates were recorded in North Dakota, West Virginia, and Vermont.
California,
Florida, Illinois, and Michigan together accounted for more than half of the
total foreclosure activity in the nation for the second straight month although
both Michigan and Illinois saw declines during the month of nearly 3 percent
and 18 percent respectively.
All stages of foreclosure
activity slowed nationwide. Default
notices were down 8 percent from the previous month but still up 22 percent
from November 2008. Scheduled foreclosure auctions declined 12
percent from the previous month but were still up 32 percent from November
2008, and bank repossessions were unchanged from October and down 2 percent
from November 2008.
The RealtyTrac
U.S. Foreclosure Market Report provides a count of the total number of
properties with at least one foreclosure filing entered into the RealtyTrac
database during the month, broken out by type of filing by state, county and
metropolitan statistical area. Some foreclosure filings entered into the database
during the month may have been recorded in previous months. Data is collected
from more than 2,200 counties nationwide, and those counties account for more
than 90 percent of the U.S. population. The report includes all documents filed in the
three phases of foreclosure, default, auction, and real estate owned. If more
than one foreclosure document is received for a property during the month, only
the most recent filing is counted in the report.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.