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Residential News » Irvine Edition | By Miho Favela | December 11, 2015 9:30 AM ET –
Scheduled Foreclosure Auctions Reach Lowest Level since December 2005
According to Irvine, Ca-based RealtyTrac’s U.S. Foreclosure Market Report for November 2015, foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 104,111 U.S. properties in November, a decrease of nearly 10 percent from the previous month and down more than 7 percent from a year ago. The report also shows one in every 1,268 U.S. housing units with a foreclosure filing during the month.
The 10 percent monthly decrease in overall foreclosure activity was caused largely by a 15 percent monthly drop in foreclosure starts, with 41,208 properties starting the foreclosure process for the first time in November, the lowest monthly total since May 2005. Foreclosure starts have decreased on a monthly basis for seven of the last eight months — with the exception of a monthly increase in October — and November was the fifth consecutive month where national foreclosure starts decreased on a year-over year basis.
“Banks are continuing to work through the backlog of lingering foreclosures, pushing bank repossession numbers higher in the short term even as foreclosure starts drop to new lows,” said Daren Blomquist. “This also means the share of active foreclosures tied to bubble-era loans is shrinking, with 59 percent of all loans in foreclosure originated between 2004 and 2008. While that is still a disproportionate share of active foreclosures, it continues to decrease from 61 percent earlier this year and 75 percent two years ago.”
Bucking the national trend, there were nine states where foreclosure starts increased from a year ago, including Oklahoma (up 246 percent), Arkansas (up 180 percent), Virginia (up 39 percent), Maine (up 5 percent), and Massachusetts (up 14 percent).
Bank repossessions up 35 percent year-to-date –
See more at: http://www.worldpropertyjournal.com/real-estate-news/united-states/irvine/foreclosure-market-report-november-2015-foreclosure-filings-default-notices-scheduled-auctions-bank-repossessions-realtytrac-9556.php#sthash.gFc70s28.dpuf
Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Commercial Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and Residential Land in Phoenix / Tucson / Arizona. Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties in Phoenix / Tucson / Arizona, and Commercial Land or Residential Land in Phoenix / Tucson / Arizona.
WHY PHOENIX ARIZONA : ???
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 Properties in Phoenix.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. If you have any questions 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 with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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Walter Unger CCIM
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Kasten Long Commercial Group
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Phoenix , AZ 85016
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