Foreclosure Data 10/1/12

Here is the Foreclosure Data through the end of September 2012. You can then print, post to your website, save or e-mail this to your clients!

Here is the Take Away:
1. Active Notices of trustee sale for residential properties as of the end of September ’12 were 13,066 units. Down from last month of 14,999. Down from the all time high of December ’09 of 47, 606.
2. Residential Foreclosures were at their all time high in March 2012 at 5, 451. Residential foreclosures were 1756 last month. This was down by 761 units from July.
3. The residential REO properties are sitting at 5, 939 vs. last month of 5, 970. Down slightly by 31 units from last month! September of 2011, there were13, 556 REO properties, down 66%! Listed REO properties are approximately 1493 units and pending are 1332. That tells us that there is approximately 3114 properties that are foreclosed but not yet on the market.
4. Short Sales represent approximately 26% of the total sales and REO’s are down to 12.6%. Normal Sales s at the highest point in the last 5 years. They represent 61% of total sales!
Business continues to be strong. We are in a rare opportunity to buy! Interest rates are very low and prices are still low…but not for long. REO properties seem to be going away as short sales continue to get approved. *Please share this with your potential buyers!