If you are a buyer looking or bank repos they are still out there. Did you know that there are 940 bank owned properties on the MLS in Southern California today?
Are you looking for a good deal? Then please ask us for a list of bank repos – we will send them to you immediately.
Remember Bank Repos are not the only good deals out there. Some homes have been on the market for a long time – it’s possible to make a lower offer and get a bargain. Also consider probate properties, trust sales and even investor flips that have not worked out – some investors got caught with homes they bought at the end of 2013 – now they want to get rid of them!
RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, on December 11th released its U.S. Foreclosure Market Report™ for November 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 112,498 U.S. properties in November, a decrease of 9 percent from the previous month and down 1 percent from a year ago — the 50th consecutive month with a year-over-year decrease in overall foreclosure activity. The report also shows one in every 1,170 U.S. housing units with a foreclosure filing during the month.
A total of 55,906 U.S. properties started the foreclosure process in November, a decrease of 1 percent from the previous month but a 6 percent increase from a year ago, the first year-over-year increase following 27 consecutive months of year-over-year decreases.
50,102 U.S. properties were scheduled for foreclosure auction during the month, down 16 percent from an 18-month high in the previous month but up 5 percent from a year ago.
Lenders repossessed 25,249 properties in November, down 10 percent from the previous month and down 17 percent from a yearago, making November the 24th consecutive month with year-over-year decreases.
“The housing market is struggling to find the new normal when it comes to a tolerable level of foreclosure activity in this post-Great Recession economy,” said Daren Blomquist, vice president at RealtyTrac. “Finding that new normal requires striking a balance between too much loan risk, which would result in another housing meltdown, and too little risk, which could result in a stunted recovery.
“Foreclosure rates on 2014-originated loans are actually higher than 2013-originated loans nationwide and in many markets, indicating that lenders are open to a slightly higher level of risk than we’ve seen over the past five years of extremely tight lending standards,” Blomquist continued. “But it’s unlikely that lenders will dial up that risk level too quickly going forward given that many are still dealing with working through a lengthy and messy foreclosure process on risky loans from the last loose lending spree.”
Scheduled foreclosure auctions increased from a year ago in 30 states, including Kentucky (up 163 percent), Tennessee (up 159 percent), North Carolina (up 157 percent), New Jersey (up 117 percent), Oregon (up 114 percent), New York (up 76 percent), Texas (up 34 percent), Pennsylvania (up 13 percent), Georgia (up 8 percent), and Washington (up 7 percent).
For all your buying and selling needs please contact Warburton Properties at 951 326 5568
Ask for Andrew, Annette or Katherine- “We Live Here – We Work Here”