Source: RealtyTrac
IRVINE, Calif. – Oct. 15, 2009 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for Q3 2009, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter — the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005.
Foreclosure filings were reported on 343,638 properties in September, a 4 percent decrease from the previous month but a 29 percent increase from September 2008. Despite the monthly decrease, September’s total was still the third highest monthly total since the RealtyTrac report began in January 2005, behind only July and August of this year.
“Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters,” said James J. Saccacio, chief executive officer of RealtyTrac. “REO activity increased from the previous quarter in all but two states and the District of Columbia, indicating that lenders may be starting to work through some of the pent-up foreclosure inventory caused by legislative delays, loan modification efforts and high volumes of distressed properties.”
Report methodology
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month or quarter — broken out by type of filing at the state and national level. Data is also available at the individual county level for both Q1 2009 and March 2009. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month or quarter, only the most recent filing is counted in the report.
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Foreclosure Rate Lookup Chart
Sunday, December 27, 2009
U.S. FORECLOSURE ACTIVITY DECREASES 8 PERCENT IN NOVEMBER
U.S. FORECLOSURE ACTIVITY DECREASES 8 PERCENT IN NOVEMBER
By RealtyTrac Staff
Activity Up 18 Percent From November 2008, But Down 15 Percent From July Peak
More Than 300,000 Properties Receive Foreclosure Filings for Ninth Straight Month
IRVINE, Calif. – Dec. 10, 2009 – RealtyTrac®, the leading online marketplace for foreclosure properties, today released its November 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 306,627 U.S. properties during the month, a decrease of nearly 8 percent from the previous month but still up 18 percent from November 2008. The report also shows one in every 417 U.S. housing units received a foreclosure filing in November.
“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,” said James J. Saccacio, chief executive officer of RealtyTrac. “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.”
Default notices nationwide were down 8 percent from the previous month but still up 22 percent from November 2008, scheduled foreclosure auctions were down 12 percent from the previous month but still up 32 percent from November 2008, and bank repossessions were flat from the previous month and down 2 percent from November 2008.
Nevada, Florida, California post top state foreclosure rates Nevada foreclosure activity decreased by a double-digit percentage for the second straight month, but the state continued to document the nation’s top foreclosure rate with one in every 119 housing units receiving a foreclosure filing in November — 3.5 times the national average. A total of 9,295 Nevada properties received a foreclosure filing during the month, a 33 percent decrease from the previous month and also a 33 percent decrease from November 2008. Nevada’s November total was 52 percent below its July total of 19,535 properties with foreclosure filings.
Florida posted the nation’s second highest state foreclosure rate in November with one in every 165 housing units receiving a foreclosure filing during the month. Florida took the No. 2 spot from California, which posted the nation’s third highest foreclosure rate — one in every 180 housing units received a foreclosure filing during the month.
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By RealtyTrac Staff
Activity Up 18 Percent From November 2008, But Down 15 Percent From July Peak
More Than 300,000 Properties Receive Foreclosure Filings for Ninth Straight Month
IRVINE, Calif. – Dec. 10, 2009 – RealtyTrac®, the leading online marketplace for foreclosure properties, today released its November 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 306,627 U.S. properties during the month, a decrease of nearly 8 percent from the previous month but still up 18 percent from November 2008. The report also shows one in every 417 U.S. housing units received a foreclosure filing in November.
“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,” said James J. Saccacio, chief executive officer of RealtyTrac. “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.”
Default notices nationwide were down 8 percent from the previous month but still up 22 percent from November 2008, scheduled foreclosure auctions were down 12 percent from the previous month but still up 32 percent from November 2008, and bank repossessions were flat from the previous month and down 2 percent from November 2008.
Nevada, Florida, California post top state foreclosure rates Nevada foreclosure activity decreased by a double-digit percentage for the second straight month, but the state continued to document the nation’s top foreclosure rate with one in every 119 housing units receiving a foreclosure filing in November — 3.5 times the national average. A total of 9,295 Nevada properties received a foreclosure filing during the month, a 33 percent decrease from the previous month and also a 33 percent decrease from November 2008. Nevada’s November total was 52 percent below its July total of 19,535 properties with foreclosure filings.
Florida posted the nation’s second highest state foreclosure rate in November with one in every 165 housing units receiving a foreclosure filing during the month. Florida took the No. 2 spot from California, which posted the nation’s third highest foreclosure rate — one in every 180 housing units received a foreclosure filing during the month.
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Wednesday, September 30, 2009
Exotic-loan resets could hit commercial market
Exotic-loan resets could hit commercial market
By Sandra Baker / Star-Telegram
September 27, 2009
An increasing number of commercial property loans may go into default in the coming months, as interest-only loans that were issued in the past several years reset, an industry expert said.
"There’s a massive amount of these loans ready to hit market," said Ben Loughry, managing partner of Integra Realty Resources in Fort Worth and Dallas. "The commercial real estate bubble is continuing to grow."
Loughry spoke at last week’s monthly meeting of the Society of Commercial Realtors.
Moreover, commercial sales are down nationwide by 90 percent and locally by 70 percent, he said.
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By Sandra Baker / Star-Telegram
September 27, 2009
An increasing number of commercial property loans may go into default in the coming months, as interest-only loans that were issued in the past several years reset, an industry expert said.
"There’s a massive amount of these loans ready to hit market," said Ben Loughry, managing partner of Integra Realty Resources in Fort Worth and Dallas. "The commercial real estate bubble is continuing to grow."
Loughry spoke at last week’s monthly meeting of the Society of Commercial Realtors.
Moreover, commercial sales are down nationwide by 90 percent and locally by 70 percent, he said.
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Friday, September 25, 2009
Dallas-Fort Worth home foreclosure filings jump 34%
Dallas-Fort Worth home foreclosure filings jump 34%
By Steve Brown / The Dallas Morning News
September 18, 2009
The number of homes facing foreclosure in Dallas-Fort Worth next month shot up 34 percent from a year ago.
Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months.
Almost 6,000 homes are scheduled to be sold at foreclosure next month, Addison-based Foreclosure Listing Service said Thursday.
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By Steve Brown / The Dallas Morning News
September 18, 2009
The number of homes facing foreclosure in Dallas-Fort Worth next month shot up 34 percent from a year ago.
Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months.
Almost 6,000 homes are scheduled to be sold at foreclosure next month, Addison-based Foreclosure Listing Service said Thursday.
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Friday, September 4, 2009
Foreclosures Rise in Texas
Texans continued to fall behind on their mortgage payments in the second quarter, and more than one in 10 Texas mortgages are late or in foreclosure.
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
Full Story Dallas News
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
Full Story Dallas News
Friday, May 22, 2009
Median home prices up slightly in April
May 22, 2009 Carolyn Said, Chronicle Staff Writer
Bay Area home sales delivered a smidgen of good news in April - but it came laden with the caveat that it's too soon to declare a turn-around in the beleaguered real estate market.
While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick, a San Diego research firm. It was the first time since October 2007 that the median rose compared with the previous month.
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Bay Area home sales delivered a smidgen of good news in April - but it came laden with the caveat that it's too soon to declare a turn-around in the beleaguered real estate market.
While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick, a San Diego research firm. It was the first time since October 2007 that the median rose compared with the previous month.
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Survey: More buyers interested in foreclosed homes
May 21, 2009
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
Tuesday, March 31, 2009
Dramatic increase in prime-loan foreclosures
Dramatic increase in prime-loan foreclosures
Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
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Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
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