Palm City, Fl, REDUCED 5/5 Plantation Home.. Five Acres: Zoned for Horse Property
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Thursday, March 11, 2010
Wednesday, March 3, 2010
Foreclosure Newsletter
Foreclosure activity decreases 10 percent in January
Overall activity up 15 percent from January 2009, REOs up 31 percent from January 2009
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 315,716 U.S. properties in January, a decrease of nearly 10 percent from the previous month but still 15 percent above the level reported in January 2009, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows one in every 409 U.S. housing units received a foreclosure filing in January.
REO activity nationwide was down 5 percent from the previous month but still up 31 percent from January 2009; default notices were down 12 percent from the previous month but still up 4 percent from January 2009; and scheduled foreclosure auctions were down 11 percent from the previous month but still up 15 percent from January 2009.
“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”
Nevada, Arizona, California, Florida post top state foreclosure rates
Despite a year-over-year decrease in foreclosure activity of nearly 18 percent, Nevada’s foreclosure rate remained highest among the states for the 37th straight month. One in every 95 Nevada housing units received a foreclosure filing during the month — more than four times the national average.
A 4 percent month-over-month increase in foreclosure activity boosted Arizona’s foreclosure rate to second highest among the states in January. One in every 129 Arizona housing units received a foreclosure filing during the month.
Foreclosure activity decreased by double-digit percentages from the previous month in both California and Florida, and the two states registered nearly identical foreclosure rates — one in every 187 housing units receiving a foreclosure filing. California’s foreclosure rate was statistically higher by a slim margin and ranked third highest among the states while Florida’s foreclosure rate ranked fourth highest.
With one in every 231 housing units receiving a foreclosure filing, Utah registered the nation’s fifth highest state foreclosure rate despite a nearly 12 percent month-over-month decrease in foreclosure activity.
Other states with foreclosure rates among the nation’s 10 highest were Idaho, Michigan, Illinois, Oregon and Georgia.
Six states account for nearly 60 percent of national total
California, Florida and Arizona posted the three highest state totals in terms of properties receiving foreclosure filings in January, and together those states accounted for more than 44 percent of the national total.
Illinois posted the nation’s fourth highest total in January, with 18,120 properties receiving a foreclosure filing during the month — a nearly 2 percent increase from the previous month and a 25 percent increase from January 2009.
Michigan posted the nation’s fifth highest total, with 17,574 properties receiving a foreclosure filing, and Texas posted the sixth highest total, with 12,225 properties receiving a foreclosure filing.
Other states with totals among the 10 highest in the country were Nevada (11,854), Georgia (11,274), Ohio (11,105) and New Jersey (6,146).
Phoenix only top 10 metro area to post monthly foreclosure increase
Phoenix foreclosure activity increased nearly 4 percent from the previous month, and one in every 102 Phoenix housing units received a foreclosure filing during the month — the second highest foreclosure rate among metropolitan areas with a population of at least 200,000. Phoenix was the only metro area among the top 10 to post a month-over-month increase in foreclosure activity.
Las Vegas documented the highest metro foreclosure rate, with one in every 82 housing units receiving a foreclosure filing, despite a nearly 2 percent decrease in foreclosure activity from the previous month and a nearly 21 percent decrease in foreclosure activity from January 2009.
Six California cities registered foreclosure rates among the top 10: Modesto at No. 3 (one in every 107 housing units); Stockton at No. 4 (one in 107); Riverside-San Bernardino-Ontario at No. 5 (one in 109); Merced at No. 6 (one in 109); Vallejo-Fairfield at No. 7 (one in 112); and Bakersfield at No. 8 (one in 118).
Two Florida cities rounded out the top 10: Cape Coral-Fort Myers at No. 9 (one in 121); and Orlando-Kissimmee at No. 10 (one in 143).
Overall activity up 15 percent from January 2009, REOs up 31 percent from January 2009
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 315,716 U.S. properties in January, a decrease of nearly 10 percent from the previous month but still 15 percent above the level reported in January 2009, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows one in every 409 U.S. housing units received a foreclosure filing in January.
REO activity nationwide was down 5 percent from the previous month but still up 31 percent from January 2009; default notices were down 12 percent from the previous month but still up 4 percent from January 2009; and scheduled foreclosure auctions were down 11 percent from the previous month but still up 15 percent from January 2009.
“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”
Nevada, Arizona, California, Florida post top state foreclosure rates
Despite a year-over-year decrease in foreclosure activity of nearly 18 percent, Nevada’s foreclosure rate remained highest among the states for the 37th straight month. One in every 95 Nevada housing units received a foreclosure filing during the month — more than four times the national average.
A 4 percent month-over-month increase in foreclosure activity boosted Arizona’s foreclosure rate to second highest among the states in January. One in every 129 Arizona housing units received a foreclosure filing during the month.
Foreclosure activity decreased by double-digit percentages from the previous month in both California and Florida, and the two states registered nearly identical foreclosure rates — one in every 187 housing units receiving a foreclosure filing. California’s foreclosure rate was statistically higher by a slim margin and ranked third highest among the states while Florida’s foreclosure rate ranked fourth highest.
With one in every 231 housing units receiving a foreclosure filing, Utah registered the nation’s fifth highest state foreclosure rate despite a nearly 12 percent month-over-month decrease in foreclosure activity.
Other states with foreclosure rates among the nation’s 10 highest were Idaho, Michigan, Illinois, Oregon and Georgia.
Six states account for nearly 60 percent of national total
California, Florida and Arizona posted the three highest state totals in terms of properties receiving foreclosure filings in January, and together those states accounted for more than 44 percent of the national total.
Illinois posted the nation’s fourth highest total in January, with 18,120 properties receiving a foreclosure filing during the month — a nearly 2 percent increase from the previous month and a 25 percent increase from January 2009.
Michigan posted the nation’s fifth highest total, with 17,574 properties receiving a foreclosure filing, and Texas posted the sixth highest total, with 12,225 properties receiving a foreclosure filing.
Other states with totals among the 10 highest in the country were Nevada (11,854), Georgia (11,274), Ohio (11,105) and New Jersey (6,146).
Phoenix only top 10 metro area to post monthly foreclosure increase
Phoenix foreclosure activity increased nearly 4 percent from the previous month, and one in every 102 Phoenix housing units received a foreclosure filing during the month — the second highest foreclosure rate among metropolitan areas with a population of at least 200,000. Phoenix was the only metro area among the top 10 to post a month-over-month increase in foreclosure activity.
Las Vegas documented the highest metro foreclosure rate, with one in every 82 housing units receiving a foreclosure filing, despite a nearly 2 percent decrease in foreclosure activity from the previous month and a nearly 21 percent decrease in foreclosure activity from January 2009.
Six California cities registered foreclosure rates among the top 10: Modesto at No. 3 (one in every 107 housing units); Stockton at No. 4 (one in 107); Riverside-San Bernardino-Ontario at No. 5 (one in 109); Merced at No. 6 (one in 109); Vallejo-Fairfield at No. 7 (one in 112); and Bakersfield at No. 8 (one in 118).
Two Florida cities rounded out the top 10: Cape Coral-Fort Myers at No. 9 (one in 121); and Orlando-Kissimmee at No. 10 (one in 143).
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News Letter on Foreclsures
Nationwide Agent Network
Carol Cross
Yanick Realty
7004 SW Busch Street, Palm City, FL 34990
“I am available to assist you in purchasing a foreclosure property or another property bestsuited to your needs. I am here to act as your local real estate specialist.”
Phone: 772-283-6582 Email: lilourmare@gmail.com
February 2010 Vol 4 Issue 5
Download PDF File
6 month National Foreclosure Trends
NOD NTS NFS LIS REO
Search for Investment Properties>
U.S. FORECLOSURE ACTIVITY DECREASES 10 PERCENT IN JANUARY
Foreclosure filings were reported on 315,716 U.S. properties during January, a decrease of nearly 10 percent from the previous month but still 15 percent above the level reported in January 2009, according to the RealtyTrac January 2010 U.S. Foreclosure Market Report. REO activity nationwide was down 5 percent from the previous month but still up 31 percent from January 2009; default notices were down 12 percent from the previous month but still up 4 percent from January 2009; and scheduled foreclosure auctions were down 11 percent from the previous month but still up 15 percent from January 2009.
Complete Story
Best to buy before new FHA guidelines take effect
By Octavio Nuiry, RealtyTrac Staff Writer
Starting in early summer, the Federal Housing Administration is tightening lending standards in an effort to bolster its dwindling reserves. The new lending standards will make it tougher for some prospective buyers to purchase a home by requiring a higher down payment than the typical 3.5 percent for some borrowers, higher insurance premiums and reduced seller concessions. Securing FHA-insured mortgages are attractive to borrowers because down payments are only 3.5 percent. Most conventional loans now require 20 percent down, keeping many creditworthy borrowers on the sidelines. Complete Story
Here are some of the most recent Investment opportunities in the area.
300 yds300 yds© 2010 Microsoft Corporation © 2009 NAVTEQ © AND © 2010 Microsoft Corporation © 2009 NAVTEQ © AND 2D3DRoadAerialBird's eyeLabelsSee this location in bird's eye view
Bing Maps 3D has finished updating Pre-Foreclosure
SW Parkgate Blvd
Palm City,
FL 34990
Market ValueDefault Amount$231,349N/ABeds/BathSq. FT3/22,741
Property Type Address Market Value Default Sq. Ft.
Bank-Owned SW Villa Pl,
Palm City, FL 34990 $1,000 N/A 1,346 GET DETAILS
AuctionAuction Date: 2/23/10 SW Murphy Rd,
Palm City, FL 34990 $191,669 N/A 1,414 GET DETAILS
View more properties in Martin County
Why Borrowers Are Welcoming Foreclosure
Which would you rather lose, your home or your credit cards? It's a choice most of us would prefer not to face, but for some the answer is that they would rather hang onto their plastic. In a new study of 27 million credit records, TransUnion says that since 2008 credit card delinquencies have been lower than mortgage payment delinquencies. “This 'flip' is representative of the change in the conventional wisdom around the payment hierarchy, or which debt obligations consumers would choose to pay first,” according to the company. Foreclosure, it seems, is no longer the stain it once was.
Complete Story
Foreclosure Trends : December, 2009
National Florida Martin CTY
NODs 96,765 0 0
NTSs 219,090 2 0
NFSs 79,810 33,504 159
LISs 151,344 66,984 523
REOs 196,460 17,681 84
Notice of Default (NOD)
A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD
Lis Penden (LIS)
Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS
Auction / Notice of Trustee's Sale (NTS)
A filing by notice announcing a public auction. More about NTS
Notice (Judgment) of Foreclosure Sale (NFS)
An order signed by a judge directing to sell the property at public auction. More about NFS
Real Estate Owned (REO)
The final step in foreclosure process in which property ownership returns to lender. More about REOs
30 yr fixed mtg 5.05% 15 yr fixed mtg 4.40% 5/1 ARM 4.16%
Carol Cross
Yanick Realty
7004 SW Busch Street, Palm City, FL 34990
“I am available to assist you in purchasing a foreclosure property or another property bestsuited to your needs. I am here to act as your local real estate specialist.”
Phone: 772-283-6582 Email: lilourmare@gmail.com
February 2010 Vol 4 Issue 5
Download PDF File
6 month National Foreclosure Trends
NOD NTS NFS LIS REO
Search for Investment Properties>
U.S. FORECLOSURE ACTIVITY DECREASES 10 PERCENT IN JANUARY
Foreclosure filings were reported on 315,716 U.S. properties during January, a decrease of nearly 10 percent from the previous month but still 15 percent above the level reported in January 2009, according to the RealtyTrac January 2010 U.S. Foreclosure Market Report. REO activity nationwide was down 5 percent from the previous month but still up 31 percent from January 2009; default notices were down 12 percent from the previous month but still up 4 percent from January 2009; and scheduled foreclosure auctions were down 11 percent from the previous month but still up 15 percent from January 2009.
Complete Story
Best to buy before new FHA guidelines take effect
By Octavio Nuiry, RealtyTrac Staff Writer
Starting in early summer, the Federal Housing Administration is tightening lending standards in an effort to bolster its dwindling reserves. The new lending standards will make it tougher for some prospective buyers to purchase a home by requiring a higher down payment than the typical 3.5 percent for some borrowers, higher insurance premiums and reduced seller concessions. Securing FHA-insured mortgages are attractive to borrowers because down payments are only 3.5 percent. Most conventional loans now require 20 percent down, keeping many creditworthy borrowers on the sidelines. Complete Story
Here are some of the most recent Investment opportunities in the area.
300 yds300 yds© 2010 Microsoft Corporation © 2009 NAVTEQ © AND © 2010 Microsoft Corporation © 2009 NAVTEQ © AND 2D3DRoadAerialBird's eyeLabelsSee this location in bird's eye view
Bing Maps 3D has finished updating Pre-Foreclosure
SW Parkgate Blvd
Palm City,
FL 34990
Market ValueDefault Amount$231,349N/ABeds/BathSq. FT3/22,741
Property Type Address Market Value Default Sq. Ft.
Bank-Owned SW Villa Pl,
Palm City, FL 34990 $1,000 N/A 1,346 GET DETAILS
AuctionAuction Date: 2/23/10 SW Murphy Rd,
Palm City, FL 34990 $191,669 N/A 1,414 GET DETAILS
View more properties in Martin County
Why Borrowers Are Welcoming Foreclosure
Which would you rather lose, your home or your credit cards? It's a choice most of us would prefer not to face, but for some the answer is that they would rather hang onto their plastic. In a new study of 27 million credit records, TransUnion says that since 2008 credit card delinquencies have been lower than mortgage payment delinquencies. “This 'flip' is representative of the change in the conventional wisdom around the payment hierarchy, or which debt obligations consumers would choose to pay first,” according to the company. Foreclosure, it seems, is no longer the stain it once was.
Complete Story
Foreclosure Trends : December, 2009
National Florida Martin CTY
NODs 96,765 0 0
NTSs 219,090 2 0
NFSs 79,810 33,504 159
LISs 151,344 66,984 523
REOs 196,460 17,681 84
Notice of Default (NOD)
A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD
Lis Penden (LIS)
Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS
Auction / Notice of Trustee's Sale (NTS)
A filing by notice announcing a public auction. More about NTS
Notice (Judgment) of Foreclosure Sale (NFS)
An order signed by a judge directing to sell the property at public auction. More about NFS
Real Estate Owned (REO)
The final step in foreclosure process in which property ownership returns to lender. More about REOs
30 yr fixed mtg 5.05% 15 yr fixed mtg 4.40% 5/1 ARM 4.16%
Tuesday, March 2, 2010
Get informed!
Mortgage delinquencies hit new record
NEW YORK – March 2, 2010 – TransUnion said Monday that customers at least 60 days past due on their mortgage payments rose to a new record in the fourth quarter.
The credit data provider said 6.89 percent of mortgage borrowers were at least two months behind on payments during the fourth quarter. It was the 12th straight quarter the delinquency rate rose.
The delinquency rate, which is seen as a precursor to foreclosures, was 6.25 percent during the third quarter and 4.58 percent during the final quarter in 2008.
Mortgage delinquencies and defaults remain a major problem facing the economy. A collapse in home sales and prices, as well as rising defaults, helped push the country into recession. Signs of a recovery in the market have been slow and uneven in recent months.
As customers struggled to repay mortgages, they also fell further behind on paying off credit cards. Customers at least three months late on making a credit card payment rose to 1.21 percent during the final three months of 2009. However, average credit card debt fell to $5,434 from $5,729 during the same quarter a year earlier.
While mortgage and credit card delinquencies continued to worsen, auto delinquencies actually improved. The 60-day delinquency rate on auto loans fell 6 percent in the fourth quarter to 0.81 percent, compared with the same quarter a year earlier. The delinquency rate was unchanged from the third quarter.
Auto loan delinquencies could be improving because of more favorable terms and deals in recent months for new cars, including the government's Cash for Clunkers program, Peter Turek, TransUnion's automotive vice president in its financial services business unit, said in a release.
TransUnion tracks the data by randomly sampling 27 million anonymous consumer records every quarter from its national consumer credit database.
Copyright © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
NEW YORK – March 2, 2010 – TransUnion said Monday that customers at least 60 days past due on their mortgage payments rose to a new record in the fourth quarter.
The credit data provider said 6.89 percent of mortgage borrowers were at least two months behind on payments during the fourth quarter. It was the 12th straight quarter the delinquency rate rose.
The delinquency rate, which is seen as a precursor to foreclosures, was 6.25 percent during the third quarter and 4.58 percent during the final quarter in 2008.
Mortgage delinquencies and defaults remain a major problem facing the economy. A collapse in home sales and prices, as well as rising defaults, helped push the country into recession. Signs of a recovery in the market have been slow and uneven in recent months.
As customers struggled to repay mortgages, they also fell further behind on paying off credit cards. Customers at least three months late on making a credit card payment rose to 1.21 percent during the final three months of 2009. However, average credit card debt fell to $5,434 from $5,729 during the same quarter a year earlier.
While mortgage and credit card delinquencies continued to worsen, auto delinquencies actually improved. The 60-day delinquency rate on auto loans fell 6 percent in the fourth quarter to 0.81 percent, compared with the same quarter a year earlier. The delinquency rate was unchanged from the third quarter.
Auto loan delinquencies could be improving because of more favorable terms and deals in recent months for new cars, including the government's Cash for Clunkers program, Peter Turek, TransUnion's automotive vice president in its financial services business unit, said in a release.
TransUnion tracks the data by randomly sampling 27 million anonymous consumer records every quarter from its national consumer credit database.
Copyright © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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