Weitere ähnliche Inhalte Ähnlich wie 2013 Short Sale Trends (20) Mehr von ATTOM Data Solutions (13) Kürzlich hochgeladen (20) 2013 Short Sale Trends1. 2013 SHORT SALE TRENDS
With Practical Steps to Finding Short Sale Listings
2. What we’ll cover today
• What is RealtyTrac?
• Where & Why Foreclosure Starts are Surging
– Bonus: Best Short Sale Markets
• How Short Sales Are Moving Further Upstream
– Bonus: listed and unlisted foreclosure inventory
– Bonus: zombie foreclosures
• Practical Steps to Finding Short Sale Listings
• Practical resources
©RealtyTrac Inc. 2012, Not for Distribution 2
4. WHAT REALTYTRAC IS
• RealtyTrac publishes the country’s largest database of
foreclosure and bank-owned properties
– Data from over 2,200 counties, covering over 92% of U.S.
housing units
• #1 Foreclosure site – 1.5 million foreclosure and bank-owned
properties nationwide
– More coverage, more detailed information than any
other national provider
• Unmatched property evaluation and transactional tools
– HomeScore, Equity & Loan Info, Comp Sales, Online
Offers, Foreclosure-MLS Match, and much more
©RealtyTrac Inc. 2012, Not for Distribution 4
5. WHAT REALTYTRAC IS NOT
• The RealtyTrac foreclosure database is not an “MLS for
foreclosure records”
• Most of the properties in the RealtyTrac database are NOT
on the MLS anywhere
– Less than 20% of the homes in foreclosure are listed
– Only 15% of REOs are listed
– Many MLS organizations prohibit including any REO or
foreclosure information in the property listings
– RealtyTrac gives you advanced notice that it will likely be
‘For Sale’ in the near future.
©RealtyTrac Inc. 2012, Not for Distribution 5
6. WHO RELIES ON REALTYTRAC DATA
©RealtyTrac Inc. 2012, Not for Distribution 6
7. WHO RELIES ON REALTYTRAC DATA
©RealtyTrac Inc. 2012, Not for Distribution 7
10. NATIONAL TRENDS
More than 10 million
More than 10 million
starts and nearly 55
starts and nearly
million completions
million completions
(REO) since January
(REO) since January
2006
2006
©RealtyTrac Inc. 2013, Not for Distribution 10
11. NATIONAL TRENDS
66Percent Bump in Q2
Percent Bump in Q2
2012 corresponding
2012 corresponding
with National
with National
Robo-signing controversy came
Robo-signing controversy came Mortgage Settlement
Mortgage Settlement
to light in late 2010,
to light in late 2010,
accelerating downward trend
accelerating downward trend
©RealtyTrac Inc. 2013, Not for Distribution 11
12. STATES WITH BIG INCREASES
©RealtyTrac Inc. 2013, Not for Distribution 12
16. WHY THE INCREASE
• Many states coming off artificial lows from last year
thanks to foreclosure processing delays.
• Those delays were caused by a variety of issues that
impacted some states more than others
• Fallout from robo-signing (paperwork and documentation)
• Intervention by the courts
• Lack of court resources to handle foreclosure volume
• Attorneys general investigation into five major lenders, with a
settlement finally reached in April
• Wave of recent legislation in non-judicial states
©RealtyTrac Inc. 2013, Not for Distribution 16
17. Longer Foreclosure Timelines N.Y.
N.Y.
timeline
timeline
longest in
longest in
country
country
Texas is
Texas is
shortest in
shortest in
country
country
©RealtyTrac Inc. 2013, Not for Distribution 17
18. A Tale of Two Foreclosure Markets
©RealtyTrac Inc. 2013, Not for Distribution 18
19. IMPLICATIONS
• Home prices in some of these markets may break
through a false bottom as these foreclosures are listed
and sold in 2013.
• More properties foreclosed (REO) in the next six to 12
months and more REO listed for sale in the next 12 to
18 months.
• More distressed homeowners interested in listing their
homes as short sales in the next six to 12 months in
these markets.
©RealtyTrac Inc. 2013, Not for Distribution 19
20. PRE-FORECLOSURE SALES ACTIVITY
Increased 19 percent
Increased 19 percent
in Q3 2012 to highest
in Q3 2012 to highest
level since Q2 2010
level since Q2 2010
©RealtyTrac Inc. 2013, Not for Distribution 20
21. PRE-FORECLOSURE SALES PRICES
Average prices
Average prices
increase on annual
increase on annual
basis after 88
basis after
consecutive quarters
consecutive quarters
of decreases
of decreases
©RealtyTrac Inc. 2013, Not for Distribution 21
22. OUTNUMBERING REO SALES
Both hardest-hit sates
Both hardest-hit sates
like California, Florida
like California, Florida
and Arizona
and Arizona
And states with
And states with
longest foreclosure
longest foreclosure
processes like NY & NJ
processes like NY & NJ
©RealtyTrac Inc. 2013, Not for Distribution 22
24. THE BIGGEST SHORTS
Banks are more willing
Banks are more willing
to take big losses with
to take big losses with
aashort sale
short sale
©RealtyTrac Inc. 2013, Not for Distribution 24
25. BEST MARKETS FOR SHORT SALES
All markets had at least
All markets had at least
200 short sales in
200 short sales in
fourth quarter and
fourth quarter and
average time from
average time from
foreclosure start to sale
foreclosure start to sale
of less than one year.
of less than one year.
©RealtyTrac Inc. 2013, Not for Distribution 25
28. STATE TRENDS
26 states posted annual
26 states posted annual
increases in non-
increases in non-
foreclosure short sales
foreclosure short sales
in 2012
in 2012
©RealtyTrac Inc. 2012, Not for Distribution 28
29. METRO TRENDS
Legislation forcing
Legislation forcing
lenders’ hands in
lenders’ hands in
metros like Las Vegas,
metros like Las Vegas,
Seattle and Portland
Seattle and Portland
©RealtyTrac Inc. 2013, Not for Distribution 29
31. BUT A SHRINKING POOL
Nationwide 1.6 million
Nationwide 1.6 million
fewer underwater than
fewer underwater than
aayear ago
year ago
©RealtyTrac Inc. 2013, Not for Distribution 31
32. LISTED PRE-FORECLOSURES DOWN
With some notable
With some notable
exceptions mostly in
exceptions mostly in
judicial states
judicial states
©RealtyTrac Inc. 2013, Not for Distribution 32
36. KNOW YOUR LOCAL MARKET TRENDS
©RealtyTrac Inc. 2013, Not for Distribution 36
37. KNOW YOUR LOCAL MARKET TRENDS
©RealtyTrac Inc. 2013, Not for Distribution 37
38. KNOW YOUR LOCAL MARKET TRENDS
©RealtyTrac Inc. 2013, Not for Distribution 38
39. TARGET POTENTIAL SHORT SALES
Filter by property
Filter by property Filter by equity/LTV
Filter by equity/LTV
Filter by property
Filter by property
value and
value and type
type
characteristics
characteristics
Filter by lender name
Filter by lender name Filter by listing status
Filter by listing status
and auction date
and auction date and bankruptcy status
and bankruptcy status
©RealtyTrac Inc. 2013, Not for Distribution 39
41. FILTER OUT REO AND FOR SALE
©RealtyTrac Inc. 2013, Not for Distribution 41
43. See Foreclosure
See Foreclosure
Details
Details
LTV and Equity
LTV and Equity
Outstanding loans
Outstanding loans
and position
and position
Owner contact info
Owner contact info
(including current
(including current
mailing address) and
mailing address) and
trustee and lender info
trustee and lender info
©RealtyTrac Inc. 2013, Not for Distribution 43
46. REALTYTRAC RESOURCES
• Local Stats & Trends (free and embeddable)
• http://www.realtytrac.com/trendcenter/
• Real Estate News & Reports (free)
• http://www.realtytrac.com/content
• Professional subscription (address-level access)
• http://www.realtytrac.com/professionals
• Buyer leads (exclusive territories)
• Call 800.306.5930
©RealtyTrac Inc. 2012, Not for Distribution 46
Hinweis der Redaktion OK, to get us warmed up I’d like to do a quick poll of the room. How many of you have heard of RealtyTrac? Now, how many of you have subscribed to RealtyTrac? Good to know. We also provide foreclosure data to myriad government agencies at the local, state and federal level. And when I say federal level I’m talking about the highest level possible, used in briefings provided to the president by his council of economic advisors. OK, enough name dropping. Although it’s fun the point of the last two slides is simply to show you that RealtyTrac data is trusted and credible. Now let’s move on to the meat of this presentation!