Foreclosure Inventory Fell 31 Percent in 2013 | Bedford NY Real Estate

-

There were 620,111 completed foreclosures across the country in 2013 compared to 820,498 in 2012, a decrease of 24 percent. For the month of December, there were 45,000 completed foreclosures, down from 52,000 in December 2012, a year-over-year decrease of 14 percent, according to CoreLogic. 
 
Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.8 million completed foreclosures across the country. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.

As of December 2013, approximately 837,000 homes in the United States were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.2 million in December 2012, a year-over-year decrease of 31 percent. The foreclosure inventory as of December 2013 represented 2.1 percent of all homes with a mortgage compared to 3.0 percent in December 2012. The foreclosure inventory was down 2.7 percent from November 2013 to December 2013.

“The foreclosure inventory fell by more than 30 percent in December on a year-over-year basis, twice the decline from a year ago,” said Mark Fleming, chief economist for CoreLogic. “The decline indicates that the distressed foreclosure inventory is healing at an accelerating rate heading into 2014.”

“Clearly, 2013 was a transitional year for residential property in the United States. Higher home prices and lower shadow inventory levels, together with a slowly improving economy, are hopeful signals that we are turning a long-awaited corner,” said Anand Nallathambi, president and CEO of CoreLogic. “The housing market should continue to heal in 2014, but we expect progress to remain very slow.”


http://www.realestateeconomywatch.com/2014/01/foreclosure-inventory-fell-31-percent-in-2013/

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
Read more

Bedford Corners Real Estate by Robert Paul | 3 Perks of Google+ for Doctors: Spend a Little Time, Make Big Online Marketing Gains

-
Image
For doctors trying to reach their patients online, using Google+ can provide surprising marketing benefits that help them be more “findable” on the web. Consider that 44 percent of all Internet users search online to find information about health professionals, and suddenly the importance for doctors of having a good online presence should be more clear. In this article I’ll discuss three reasons why I think that, if you participate in Google+, the newest social network, you can improve the chances your name will come up when prospective patients search for something you’ve written about. If you’re not a doctor but you do know that many prospective clients use the web as a way to find you and your competitors, this article will also be relevant to you. 1. Rise in the Rankings First, participating in Google+ gives doctors an advantage because content you share on Google+ has an “edge” against other stories. That’s right–Google (the search engine) likes stories that’ve gotten sha...
Read more