Foreclosure Activity in California and the Nation Slow

DSNews’ article on foreclosure activity pointed out some quality information about distressed properties; here’s a few of the main points:

foreclosureForeclosure activity in both California and the nation has slowed considerably, according to RealtyTrac in an article by DSNews.com. Foreclosure starts have especially slowed, hitting a 79-month low.

Foreclosure filings cover default notices, scheduled auctions, and bank repossessions. Current rates for these fillings are reported at 150,864 properties in the nation. This figure is a monthly drop of 7 percent, and a yearly decrease of 28 percent.

Even with the foreclosure starts and bank repos decreasing, foreclosure auctions have increased in half of the states.

California has a large drop in notices of default (NODs)–the decrease in the state is attributed by DSNews to the new Homeowner Bill of Rights, adopted on January 1, 2013.

DSNews.com’s article can be viewed here: “RealtyTrac: Foreclosure Starts Slow to 79-Month Low”.

Renee West
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Renee West

Broker Associate at Villa Real Estate
I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Villa Real Estate.
Contact me at (714) 914 9060 or rwest@villarealestate.com for all your real estate wants and needs.
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