September Real Estate Market Trends

Published 08 October 10 07:26 AM
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September 2010 Vol 4 Issue 19
6 month National Foreclosure Trends
NOD
NTS
NFS
LIS
REO
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Foreclosure Activity Increases 4 Percent in August

Foreclosure filings were reported on 338,836 properties in August, a 4 percent increase from the previous month but a 5 percent decrease from August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month. “The trend lines of decreasing default notices and increasing bank repossessions converged in August, with virtually the same number of new default notices and bank repossessions for the month — a clear indication that the clogged foreclosure pipeline is being carefully managed on both ends by lenders and servicers,” said James J. Saccacio, chief executive officer of RealtyTrac. Complete Story

Banks Delay Foreclosures and Pray Property Values Increase

By Peter G. Miller

You've probably heard that the nation's banks had a $21.6 billion profit during the second quarter, reason enough to celebrate with big executive bonuses for our financial leaders. But before we break out the champagne it might be good to mention that the profits enjoyed by our bankers are no more believable than Bernie Madoff's sworn testimony. If a sound financial system is crucial to the economy, a few rules must be bent to create the fiction of bank stability. That reality impacts home prices and foreclosure practices nationwide. Complete Story

Here are some of the most recent Investment opportunities in the area.

Pre-Foreclosure
Northgate Rd
Rochester,
MI 48306
  • Market Value
  • Default Amount
  • N/A
  • N/A
  • Beds/Bath
  • Sq. FT
  • 0/0
  • 0
Property TypeAddressMarket ValueDefaultSq. Ft. 
Bank-Owned
Harrington Rd,
Rochester Hills, MI 48307
$237,127N/A1,722GET DETAILS
Auction
Auction Date: 10/26/10
Salem Dr,
Rochester Hills, MI 48306
$228,155N/A1,630GET DETAILS
View more properties in Oakland County

Favorable Financing on Fannie, Freddie and FHA Foreclosures

A growing number of delinquencies and foreclosures on government-backed loans —combined with generous incentives for purchasing foreclosed homes owned by Fannie Mae, Freddie Mac and HUD — means buyers and investors will have plenty of opportunities in the coming months to pick up properties at bargain prices with low down payments and preferred financing. The two government sponsored enterprises (GSEs) — Fannie and Freddie — are acquiring real estate owned (REO) properties through foreclosure at a significantly faster pace than overall growth in REO activity based on RealtyTrac data from the second quarter.
Complete Story

Foreclosure Trends : July, 2010
NationalMichiganOakland CTY
NODs42,6516,472901
NTSs87,3106,570958
NFSs47,93800
LISs54,47200
REOs92,8585,791842
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Foreclosure Terms
Notice of Default (NOD)
A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD
Lis Penden (LIS)
Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS
Auction / Notice of Trustee's Sale (NTS)
A filing by notice announcing a public auction. More about NTS
Notice (Judgment) of Foreclosure Sale (NFS)
An order signed by a judge directing to sell the property at public auction. More about NFS
Real Estate Owned (REO)
The final step in foreclosure process in which property ownership returns to lender. More about REOs
30 yr fixed mtg 4.32%15 yr fixed mtg 3.75%5/1 ARM 3.52%

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