Crampton Inspection Service

Real Estate Services

  • Home
  • About
    • About Us
    • Privacy Policy
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Pricing 101
  • Blog
  • Visit Our Website
  • Contact

Home Defaults Dropped For The 7th Month In A Row In August

September 16, 2010 by Crampton Inspection Service Leave a Comment

Foreclosures per capita, August 2010

According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings climbed 4 percent in August from the month prior. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession.

Despite the number of filings surpassing 300,000 for the 18th straight month, RealtyTrac’s report shows some bright spots for housing.

  1. The number of default notices served per month fell for the 7th time this year
  2. Foreclosure activity in Nevada, the nation’s leading foreclosure state, is down 25% from last August
  3. Foreclosure activity has not materially increased since early-2009, pointing to a stabilization

In addition, each of the 10 leading metro areas for foreclosures posted year-over-year declines for the second month in a row.

But, perhaps, most important, is that mortgage lenders and servicers appear to be managing their REO more effectively, making properties available for sale at a measured pace as opposed to flooding markets with new homes.  As noted by RealtyTrac, the probable reason is “to prevent further erosion of home prices”.

For home sellers, it’s a welcome development.

Foreclosures have had a hand in falling home values in California and across the country. And, although it’s self-serving for banks to meter the release of homes under ownership, everyday homeowners benefit, too.  Fewer homes on the market helps to provide a floor for Walnut Creek housing values.

If you have an interest in buying foreclosed homes, be sure to talk with a real estate agent first. The process of buying a home from a bank is different from buying from “a person”. Having the help of a professional should work to your benefit.

Filed Under: Foreclosures Tagged With: Foreclosures,RealtyTrac

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Logo

Contact Us


Crampton Inspection Service

P.O. Box 6043
Moraga, CA 94570
Phone: 925-376-7707
Email: john@your-home-inspector.com
CALL (925) 376-7707

How can we help?

  • This field is for validation purposes and should be left unchanged.

Connect with Us



max-width: 80px;

Recent Articles

  • The Cost Of Building A House
  • Curious About Homeowners’ Association (HOA) Fees? Here’s What You Need to Know
  • Should You Sell Or Rent Your Primary Residence
  • What’s Ahead For Mortgage Rates This Week – January 23, 2023
  • House Poor: What It Means And How To Avoid It
Certified with California Real Estate Inspection Association (CREIA) and American Society of Home Inspectors (ASHI)

Looking For Something?

Our Location

P.O. Box 6043
Moraga, CA 94570

Copyright © 2023 · Powered by MySMARTblog