Foreclosure News: This Is A Good One

Trends are shifting! Foreclosures continue to drop so much so that the number of those not occurring has passed the critical mass of those that are coming on the market. Foreclosure rates have fallen 7% in September reaching their lowest since July of 2007.

“We’ve been waiting for the other foreclosure shoe to drop since late 2010, when questionable foreclosure practices slowed activity to a crawl in many areas, but that other shoe is instead being carefully lowered to the floor and therefore making little noise in the housing market — at least at a national level,” says Daren Blomquist, vice president at RealtyTrac. “Make no mistake, however, the other shoe is dropping quite loudly in certain states, primarily those where foreclosure activity was held back the most last year.”

Court processes are skewing the numbers slightly as each state handles their foreclosure process a little differently, but even with backlogs, slow court-approval, and other details, the trend is speaking loudly. Foreclosures are on the decline!

Source: RealtyTrac

 

Hart Real Estate Solutions

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Comment balloon 3 commentsHart Real Estate Solutions • October 16 2012 08:45AM

Comments

We are seeing the same on foreclosures here in Arizona.  Less inventory and more move in ready homes.

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) about 6 years ago

Sounds like good news. Nice post!

Posted by Connor Southworth about 6 years ago

Thanks for your comments Edward and Celia - good to hear that as I know Arizona was plagued for awhile. 

 

Thanks Connor also.

Tim H.

Posted by Hart Real Estate Solutions, Broker/Owner (Hart Real Estate Solutions) about 6 years ago

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