Tag Archives: RealtyTrac

RealtyTrac recently integrated the property-rating system HomeScore on nearly 2 million foreclosure and for-sale properties on its Web site. Created by SmartZip Analytics, HomeScore is designed to allow users to pinpoint properties with the best potential for appreciation over time. The higher the HomeScore rating, the greater the home's investment potential. While properties scored above 50 are expected to outperform the market, those scored below 50 are expected to underperform.

New data from RealtyTrac shows foreclosure activity in the U.S. has fallen to its lowest level in 40 months. Filings were reported on 219,258 properties in April, down 34 percent from a year earlier. While the numbers may be an attention-grabber, RealtyTrac says they don't necessarily mean we've turned the corner since the slowdown can be traced to two specific areas of delays in processing. The curb in activity wasn't entirely widespread. REOs hit a new record high in Nevada, while defaults spiked in Massachusetts and New Jersey.

Hawaii Gov. Neil Abercrombie has signed into law a measure aimed at stemming foreclosures in the state by bringing homeowners and their lenders together to negotiate an alternative resolution. Based on first-quarter foreclosure activity, RealtyTrac reports that Hawaii had the 11th highest foreclosure rate in the nation, with one in every 201 homes in the state receiving a filing during the first three months of this year.

RealtyTrac says processing delays have reduced foreclosure activity to its lowest level since the first quarter of 2008. New data released by the tracking firm shows that foreclosure filings were reported on 681,153 U.S. properties during the first three months of this year. That represents a 15 percent decline from the previous quarter and a 27 percent drop from a year ago. Declines were steepest in states where a judicial foreclosure process is used, but looking at the nationwide data for March, RealtyTrac's report indicates that activity is already beginning to pick up some.

RealtyTrac on Tuesday unveiled new site features of its online foreclosure marketplace that allow users to see the amount of equity - or negative equity - in a property based on its estimated market value and total outstanding loans. The company says this additional information will help buyers and investors quickly determine which distressed properties represent good purchase opportunities for them, and will help real estate agents and brokers pinpoint potential listing opportunities.

RealtyTrac has announced the hiring of real estate veteran Charlie Engel as its new director of business development--real estate. Engel will lead the online foreclosure marketplace's efforts to drive additional real estate professional partnerships. He brings more than 10 years of sales management and business development experience to RealtyTrac.

Rhode Island may be the smallest state in the country, but its foreclosure rate is keeping pace with the big guys. According to a special report issued by HousingWorks RI, a nonprofit coalition of nearly 140 local organizations, through the fourth quarter of 2010 Rhode Island continued to rank highest in New England in both foreclosure starts and serious delinquencies. Roughly one in every 10 mortgaged homeowners in the state has been affected by the foreclosure crisis over the last two years.

New data from RealtyTrac shows that foreclosure filings nationwide dropped 14 percent between January and February, as overall activity last month sunk to its lowest level since February of 2008. RealtyTrac says total foreclosure filings - including default notices, scheduled auctions, and bank repossessions - were reported on 225,101 properties in February, a 27 percent decrease from a year earlier and the biggest year-over-year decline since the company began issuing its report in 2005.

RealtyTrac, an online marketplace for foreclosure properties, launched a new foreclosure search widget in February for real estate agents and brokers. The widget allows users to INSERT IGNORE a fully functional nationwide foreclosure property search on their Web sites, which delivers real-time foreclosure data from RealtyTrac.

RealtyTrac has released its year-end 2010 foreclosure sales report, which shows that foreclosure homes accounted for nearly 26 percent of all U.S. residential sales last year, down from 29 percent of all sales in 2009 but up from 23 percent in 2008. The report also shows that the average sales price of these foreclosure properties was more than 28 percent below the average sales price of properties not in the foreclosure process - up from a 27 percent average discount in 2009 and 22 percent in 2008.