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