Some More Good Foreclosure News

By
Real Estate Appraiser with PahRoo Appraisal & Consultancy
http://actvra.in/xjf

According to the National Foreclosure Report issued by Corelogic indicated that foreclosure activity improved in January 2012 compared to a year ago.

The number of completed foreclosures fell 13% year-over-year in January.  This decline has been seen by many market pundits as an overall drop in default activity.  Specifically, there were 69,000 completed foreclosures in January 2012, up from 65,000 in December and down from 80,000 last year.

Furthermore, our country had 1.4 million homes, or 3.3% of all homes, in foreclosure inventory during January.  According to an article in Housingwire.com, "

States with the highest foreclosure rates included Florida (11.8% rate), New Jersey (6.4%), Illinois (5.3%), Nevada (5%) and New York (4.7%). States with the lowest rates include Wyoming (0.7%); Alaska (0.8%); North Dakota (0.8%); Nebraska (1.1%); and Texas (1.3%).  Since the start of the downturn in September 2008, approximately 3.3 million homes have gone through the foreclosure process."

 

Michael Hobbs, PahRoo Appraisal & Consultancy

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Topic:
ActiveRain Community
Location:
Illinois
Groups:
REO
Realtors®
Investing in Real Estate
Foreclosure Talk
Dedicated Bloggers
Tags:
foreclosure process
foreclosure inventory
illinois foreclosure
pahroo
corelogic
national foreclosure report
foreclosure

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Michael Hobbs

SRA, LEED GA, RAA
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