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2016-05-18 13:28:02
Shrinking Foreclosure Inventory

Did you see the KCM post I put up this morning for my Tooele home buyers about the shrinking foreclosure inventory around the country? 

We have sold a lot of distressed property over the years and have put together a long list of investors that look to foreclosed houses & short sales to give them the best housing buys.

In fact we published lists of Tooele homes in foreclosure, HUD Homes & REOs as well as all of the short sale listings each month for those clients and for other home buyers looking for good deals.

I'm publishing one of those lists from a year ago so you can answer the question posed by that post, ' are foreclosures decreasing in your area'.

20160518-Share-STM

Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.

CoreLogic, in their most recent National Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).

Are Foreclosures Increasing or Decreasing? | Simplifying The Market

Other findings in the report:

  • The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is the lowest level since November 2007
  • The Foreclosure Rate is 1.1% which is also the lowest level since November 2007
  • This was the 53rd consecutive month that showed a decline in the Foreclosure Rate

Bottom Line

Though foreclosures do remain in the market, the number is dramatically decreasing. The fact that mortgage delinquency rates are also decreasing means the worst of the foreclosure crisis is in the rearview mirror.

 

 

29 April 2015
Tooele Foreclosures HUD Homes & Short Sales
Here is the Monthly list (April) of Tooele Foreclosed Homes, Short Sales, and HUD Homes for sale in Tooele County. In addition we have included national articles by professional real estate agents about the state of the distressed property business around Read More...

There you have it. 

Compare this list (last years) with what is available in Tooele County today. If you have been depending on this type of listing, the pickings and selection is certainly diminishing.

There are still some places where you find great buys of Tooele real estate. I know where they are, and would be happy to help you find them.

Give me a call; Berna Sloan 435-840-5029, i can help you with the shrinking foreclosure inventory.

 

 
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