Foreclosures fall to pre-housing bust levels

 

 

 

 

 

The pessimist complains about the wind;

the optimist expects it to change;

the realist adjusts the sails.
William Arthur Ward

 

 

 

 

By Les Christie @CNNMoney July 11, 2013: 12:35 AM ET

In June, foreclosure filings dropped to their lowest level since before the housing bust.

NEW YORK (CNNMoney)

The long national foreclosure nightmare is nearing its end, with foreclosure filings hitting their lowest level since before the housing bust.

Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Overall, filings have hit their lowest monthly level since December 2006.

The number of foreclosure filings have plunged so fast — down 14% since May — that the housing market could be back to pre-mortgage meltdown levels before the end of the year, according to Daren Blomquist, a vice president at RealtyTrac.

Related: How smart are you about mortgages?

“Halfway through 2013 it’s becoming increasingly evident that foreclosures are no longer a problem nationally, [although] they continue to be a thorn in the side of several state and local markets,” he said.

The five states with the highest percentage of foreclosure filings last month were Florida, Nevada, Illinois, Ohio, and Georgia. In Florida, Miami, Orlando, Jacksonville, Ocala, and Tampa held the top five spots for filings among the nation’s metro areas.

While initial filings for foreclosures dropped by 45% year-over-year to a seven and a half year low, the number of homes that were further along in the process and were repossessed have not fallen as quickly.

“[At the last stage of foreclosure] they trail other filings,” said Blomquist.

READ MORE

http://money.cnn.com/2013/07/11/real_estate/foreclosures/

 

 

a little about me and my expertise – video

LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA

https://www.youtube.com/watch?v=PPs3kpKR4nY

 

LAND SALES IN PHOENIX from 4-10-2013

http://walter-unger.com/?p=7956

 

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.

 

 

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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial and  Landspecialist in Phoenix and a Landspecialist in Arizona.

1.

WHETHER YOU LEASE OR OWN

NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.

 

In my opinion we are at bottom of the cycle in Commercial Real Estate in Phoenix, so there is only one way and it’s called we are going up again and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.

 

2.

IF YOU OR ANYBODY YOU KNOW IS IN TROUBLE WITH YOUR BUSINESS, AS MANY AMERICANS ARE IN THE MOMENT, AND ARE ABOUT TO LOSE YOUR COMMERCIAL PROPERTY, PLEASE CONTACT ME.  IF YOUR BANK IS BEHAVING BADLY I MAY BE ABLE TO HELP YOU GET OUT OF SOME OR MAYBE A LOT OF FUTURE HEADACHES.

 

3.

WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME

  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.

Since I was a Land Specialist in Arizona and a Land Speciaost in Phoenix many of my clients, Sellers and Buyers remember me and now they are calling me again, so this is the time to get back into land and none of my clients, including future clients, will miss out on getting their best deal.

Also, if you are up-side down on your land, like many Americans, and the lender is giving you a hard time, now is the time to put your land on the market. Lenders are making deals now with short sales.  I have been working with banks for many years – I learned how to work with them.

 

If you have any questions about the 1 to  3 above, about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.

 

Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell)  602-778-5110 (office direct).

 

www.Walter-Unger.com

 

 

 

Thank You

Walter

 

Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

Cell:      520-975-5207

Direct:   602-759-1202

Office :  602-445-4141

Fax:      602-445-4188

walterunger@ccim.net

 

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