Rate of Foreclosures Rapidly Decreasing in U.S. Markets
For real estate investors who have been chasing foreclosures since 2009 the competition has been fierce in recent years. Foreclosures are disappearing in rapidly in most U.S. markets. RealtyTrac has reported an overall decrease in foreclosure activity by 40.1% over the prior year based on the number of active foreclosure homes in the U.S. as a whole.
(Source: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ ) What has been happening with foreclosures in your particular area of the real estate market? According to stats provided on Century 21’s website, foreclosure inventory has fallen almost 33% since the end of 2012. Also according to this C21 article, “Foreclosure starts were down in the third quarter of 2012 to the lowest level since the second quarter of 2006.” (Source: http://c21jf.us/2014-housing-economy-equity-and-foreclosure-outlook/ )
For the past 24 months, there has been fierce competition among home buyers and real estate investors who have both been trying to purchase available REOs in places like Southern California, San Francisco, and Phoenix. Because we are a real estate lender that finances foreclosures, we are interested to see what’s happening in your area of the market.
How is the competition in your section of the market for foreclosure deals? Have REOs all but disappeared in your corner of the real estate market? ccurwick
For real estate investors who have been chasing foreclosures since 2009 the competition has been fierce in recent years. Foreclosures are disappearing in rapidly in most U.S. markets. RealtyTrac has reported an overall decrease in foreclosure activity by 40.1% over the prior year based on the number of active foreclosure homes in the U.S. as a whole.
(Source: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ ) What has been happening with foreclosures in your particular area of the real estate market? According to stats provided on Century 21’s website, foreclosure inventory has fallen almost 33% since the end of 2012. Also according to this C21 article, “Foreclosure starts were down in the third quarter of 2012 to the lowest level since the second quarter of 2006.” (Source: http://c21jf.us/2014-housing-economy-equity-and-foreclosure-outlook/ )
For the past 24 months, there has been fierce competition among home buyers and real estate investors who have both been trying to purchase available REOs in places like Southern California, San Francisco, and Phoenix. Because we are a real estate lender that finances foreclosures, we are interested to see what’s happening in your area of the market.
How is the competition in your section of the market for foreclosure deals? Have REOs all but disappeared in your corner of the real estate market? ccurwick