Read our latest California Foreclosure Report: DOWNLOAD HERE
Highlights from this report:
- Foreclosure filings where up in June after two months of decline
- Foreclosure cancellations reached a record high of 21,962 in June, up 27.09% from May
- The number of properties purchased by 3rd parties dropped by 23.73% since last month, but those properties bought were at the best margins in months
- Fewer properties went back to the bank, down 23.73% from the prior month
- Time-to-Foreclosure was flat month over month, but up 34.93% from June 2009
- Time-to-Resell continued it’s slow ascent, up 5.95% for the banks and up 4.29% for 3rd parties
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Sean,
Great summary! As a short sale specialist team we have been busier than ever and are seeing the $1M+ homeowners that have not been able to modify, throw in the towel and agree to a short sale.
2010 will prove to be an interesting year.
Below is a link to a VERY compelling market update and whats in store for the next 12-24months.
It will definitely help you be ahead of the broader factors that are driving our real estate market and where its headed over the next 24-48months.
Go ahead and fast forward to 5Min into the view the meat of the update
http://www.program3648.org/flash/marketupdate/marketupdate_june.php