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Foreclosure Filings
Foreclosure Filings—Notice of Default filings are the first step in the foreclosure process. Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowner’s final notice before sale.
Foreclosure Outcomes
Foreclosure Outcomes—After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be Cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements. Alternatively, if the property is taken to sale, the bank will place the opening bid. If a 3rd party, typically an investor, bids more than the bank’s opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that bank’s REO inventory.
Foreclosure Inventories
Foreclosure Inventories—Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.
S&P/Case-Shiller: Home prices continue to strengthen
Home prices continued their upward trajectory, nearing 10%, according to data through February 2013 released Tuesday in the S&P/Case-Shiller Home Price Indices.
The 10- and 20-city composites showed average home prices increased 8.5% and 9.3%, respectively, in the 12 months ending in February 2013.
Meanwhile, from January to February, the 10- and 20-city composites rose 0.4% and 0.3%.
Although eight MSAs posted monthly drops, all 20 cities showed increases when compared to their February 2012 levels. Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, San Diego, San Francisco and Tampa all experienced double-digit year-over-year gains.
“The 10- and 20-City Composites recorded their highest annual growth rates since May 2006; seasonally adjusted monthly data show all 20 cities saw higher prices for two months in a row – the last time that happened was in early 2005,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.
Of the 20 cities covered by the indices, all reported year-over-year increases for at least two consecutive months. Phoenix led the growth with a 23% year-over-year return. San Francisco, Las Vegas and Atlanta took the next three slots with an 18.9%, 17.6% and 16.5% year-over-year return, respectively.
Blitzer noted, “Atlanta recovered from a wave of foreclosures in 2012 while the other three were among the hardest hit in the housing collapse. At the other end of the rankings, three older cities – New York, Boston and Chicago – saw the smallest year-over-year price improvements.”
But with prices appreciating throughout the country and buyers facing multiple offers on homes, many are wondering if we are in another bubble. “The catastrophic bubble that popped five years ago was plagued with faulty loans,” “In contrast, today’s rapidly rising home prices are largely driven by the abundance of all-cash offers and a lack of inventory. And when the home purchases are financed, appraisals and other tight lending practices are keeping home prices more in check.”
Analysts at Econoday agree, noting that this report only further strengthens the notion that housing is headed back to healthy again.
“This report underscores the healthy gains in last week’s FHFA price report and confirms a pivot higher for home prices, a pivot that promises to be a special story for this year’s economy. This report should boost confidence in the housing sector and be a solid plus for today’s session,” Econoday said.
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Mira Mesa Home Traditional Sale! Listed Price $429,750
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Hosting Arnie Levine |
Property Description: Regular sale!!!
Beautifully decorated with tasteful upgrades throughout. Corcoran Countertops, Oak cabinets in kitchen and dining area.
Pergo flooring, Ceiling fans and crown molding. Yard is fully fenced &vimmaculately landscaped. Covered patio.
Elegant home that reflects pride of ownership!
County Properties, 26 years of brokerage experience, trust. If you have equity in your home, we will sell your home and get top dollar in this challenging market with our Internet Marketing and Sales Program or click Want to know what your home is worth? .
If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!
Want to know what your home is worth?
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La Jolla Concours d’ Elegance Apr. 6-7
An elite car show is presented at beautiful La Jolla Cove where guests can gaze upon historic cars and premier collections against a backdrop view of the ocean. 6-9pm. Ellen Browning Scripps Park. (619) 233-5008 / www.lajollaconcours.com |
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After Dark Dash Apr. 6
This 5K is taking place in downtown San Diego under city streetlights. The purpose of the event is to raise money and bring awareness for the Children’s Tumor Foundation. 10-11:30pm. $35. (970) 301-6130 / www.afterdarkdash.com |
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As home prices steadily trend upward while mortgage rates continue to reach record low levels, more sellers want to take advantage of the low borrowing cost and plan to repurchase another home. After six years of decline since 2005, sellers who planned on buying or had already bought another home rose for the second consecutive year in 2012, according to C.A.R. 2012 Annual Housing Market Survey. Two of five (40 percent) home sellers planned to repurchase as the housing market started its slow recovery, an increase from 38 percent in 2011.
Nearly half of those sellers who planned to repurchase said that their new home would be located within the same county, a significant increase from 38 percent reported in 2005 – the peak year of the recent housing market cycle. Meanwhile, about one-fifth of sellers who planned to purchase a new home decided to buy in another state outside of California, a drop from 31 percent in 2005 when the median price was over $500,000.
Higher housing affordability in recent years was probably a big factor in the surge in more sellers wanting to stay within the same county and the steep decline in sellers wanting to move to another state. Since 2005, the statewide median price has declined 39 percent from $522,670 to $319,340 in 2012, while the average 30-year fixed rate mortgage dropped from 5.87 percent to 3.66 percent. The decreases in interest rates and home prices pushed the California housing affordability index up from 15 percent in the third quarter of 2005 to 49 percent in the same quarter of 2012, making homeowners less inclined to move because of affordability.
County Properties, 26 years of brokerage experience, trust.
If you have equity in your home, we will sell your home and get top dollar in this challenging market with our Internet Marketing and Sales Program or click Want to know what your home is worth? .
If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!
Want to know what your home is worth?
- Bidding wars are back, and while not every local real estate market is experiencing bidding wars, some home buyers find themselves competing for houses because there aren’t many for sale in their neighborhood.
- To compete in a bidding war, buyers need to prepare financially for the home purchase. They have to familiarize themselves with property values in their target neighborhoods, and they must know what they want.
- While offering the most money might seem the best way to win a bidding war, sellers don’t always choose the highest offer. Instead, some sellers prefer offers that are the most likely to go through and that meet certain conditions.
- One way to be competitive in today’s real estate market is to select a lender and loan product, complete everything the lender requires, and have a pre-approval letter in-hand before beginning the house hunt.
County Properties, 26 years of brokerage experience, trust.
If you have equity in your home, we will sell your home and get top dollar in this challenging market with our Internet Marketing and Sales Program or click Want to know what your home is worth? .
If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!
Want to know what your home is worth?
February home prices rose 10.2% from year ago levels, the largest annual gain in nearly seven years and the 12th consecutive month of national home price growth, CoreLogic said Wednesday.
The real estate analytics firm attributes the steep rise to rapid price appreciation in several West Coast states—namely California, Phoenix and Las Vegas.
CoreLogic’s [stock CLGX] [stock] Home Price Index report for February includes the impact of distressed sales. However, when subtracting distressed properties from the equation, prices still rose 10.1% from year ago levels. And from January to February, home prices edged up 0.5% nationally with distressed sales included.
Without distressed properties, prices rose 1.5% month-to-month.
Looking forward, the CoreLogic Pending Home Price Index suggests March prices will rise 10.2% over year ago levels and 1.2% from February.
The states with the steepest price appreciation rates with distressed sales accounted for include Nevada, where prices rose 19.3% annually, followed by Arizona (up 18.6%), California (15.3%), Hawaii (14.6%) and Idaho (13.5%).
County Properties, 26 years of brokerage experience, trust.
If you have equity in your home, we will sell your home and get top dollar in this challenging market with our Internet Marketing and Sales Program or click Want to know what your home is worth? .
If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also, go to www.ShortSaleRealtors4U.com
New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!
Want to know what your home is worth?
