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Tag Archives: RealtyTrac

Foreclosure Activity Falls to Five-Year Low: RealtyTrac

Foreclosure filings were reported on 180,427 U.S. properties in September, according to RealtyTrac. The total number of filings last month was down 7 percent from August, down 16 percent from September 2011, and was the lowest monthly total recorded by RealtyTrac since July 2007. The foreclosure tracking company says the national decrease in September was driven primarily by sizable declines in non-judicial foreclosure states such as California, Georgia, Texas, Arizona, and Michigan.

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Illinois Takes Lead for Foreclosure Rate, REOs Continue to Fall

A new state took the spotlight in RealtyTrac's Foreclosure Market Report for August. For the first time since January 2005, which is when RealtyTrac began the report, Illinois ranked number one for its foreclosure rate. Bank repossessed fewer properties in August, with REO activity declining 2 percent month-over-month and 19 percent year-over-year, marking the 22 month in a row of yearly declines.

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Ten States with the Biggest Foreclosure Discounts: RealtyTrac

While RealtyTrac found that the average foreclosure discount is 31.74 percent, found that the nationwide average for foreclosure discounts is 31.74 percent, there are some states that are much more generous. Foreclosure discounts include homes in foreclosure or properties that are bank-owned.

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Foreclosure-Related Sales Price Up as Inventory Shrinks: RealtyTrac

Prices went up for foreclosure-related sales on a quarterly and yearly basis, with the annual increase marking the first rise in two years, according to RealtyTrac's Q2 foreclosure sales report. The average price for foreclosure-related sales stood at $170,040, a 6 percent increase from the previous quarter and a 7 percent hike from the second quarter of 2011. The annual increase is the first since the second quarter of 2010 and the biggest yearly increase since the fourth quarter of 2006.

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RealtyTrac Names New CEO

RealtyTrac announced the appointment of president and COO Jamie Moyle as the new CEO. Moyle's appointment follows the leadership of former CEO Brandon Moore, who will serve as consultant to the board. Moore joined the company as CEO in 2011.

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Foreclosure Activity Down with Fewer Bank Repossessions: RealtyTrac

Overall, foreclosure activity declined year-over-year and month-over-month, but foreclosure starts told a different story in July, according to RealtyTrac's foreclosure market report. Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, fell 3 percent month-over-month and decreased 10 percent from July 2011. Fewer homes were lost to the foreclosure process as well, with lenders completing the foreclosure process on 53,654 U.S. properties. The figure is a 1 percent decrease from June and a 21 percent decrease from a year ago.

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Ten Best Metros to Buy Foreclosures: RealtyTrac

With foreclosure starts up in the second quarter of 2012, RealtyTrac listed the top 10 metros to buy or invest in foreclosures for the remainder of 2012. Overall, 132 out of 212 metropolitan areas with a population of 200,000 or more posted increases in foreclosure starts from the previous quarter, according to RealtyTrac. The bump in starts marks a 60 percent gain and means more foreclosure inventory for those markets. RealtyTrac's list includes metros where the average foreclosure sales price is increasing on an annual basis, average foreclosure sale discounts are still 15 percent or higher, and the unsold inventory of REOs represents a supply of 20 months or fewer.

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Q&A with RealtyTrac VP Daren Blomquist on Short Sales

DS News recently caught up with RealtyTrac VP Daren Blomquist to talk to him about short sales. Although data shows the alternative to foreclosure is becoming more widely used, anecdotal evidence points to frustration and difficulty when pursuing a short sale. So, we decided to have a conversation with Daren about the obstacles that get in the way of short sales, what can be done, and what the upcoming trends might be.

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Foreclosure Starts Up for First Time Since 2009: RealtyTrac

In the first half of this year, over 1 million U.S. properties received a foreclosure filing, according to a midyear foreclosure report released by RealtyTrac. The exact figure - 1,045,801 - marks a 2 percent increase from the previous 6-month period and an 11 percent decrease from the first half of 2011. Second quarter foreclosure starts totaled 311,010, a 9 percent increase from the previous quarter and a 6 percent increase from a year ago. The increase is the first yearly rise in quarterly foreclosure starts since the fourth quarter of 2009.

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