The document discusses recent distressed market trends based on data from RealtyTrac. It provides an overview of national, California, and local High Desert region (including Lancaster, Palmdale, Victorville, and Barstow) foreclosure rates and inventory. While foreclosure activity is decreasing nationally and in California, the High Desert region continues to have higher than average foreclosure rates. The presentation leverages RealtyTrac data on defaults, auctions and REO properties to analyze investment opportunities in distressed sales moving further upstream in the foreclosure process.
RealtyTrac started 1996 – 17 years ago.More than 1.5 million active default, foreclosure auction and bank-owned properties.More than 1 million active for-sale listings on our website.Track over 100 million properties nationwide.20 categories of key housing-related facts provided by RealtyTrac’s wholly-owned subsidiary, Homefacts®.
RealtyTrac started 1996 – 17 years ago.More than 1.5 million active default, foreclosure auction and bank-owned properties.More than 1 million active for-sale listings on our website.Track over 100 million properties nationwide.20 categories of key housing-related facts provided by RealtyTrac’s wholly-owned subsidiary, Homefacts®.
U.S. & State Foreclosure Starts Apr05-May13
U.S. & State Foreclosure Starts Apr05-May13
3.41 % in January4.29 % in June - highest level since July 2011.
Foreclosure Starts – Defaults & auctionCompletions - REOs
Average time to foreclose was 1,033 days in both New York and New Jersey. National average of 526 days.California average is 383 days.
52% of Nevada mortgages are underwater41% in Florida36% in Michigan
12 Million in 201211 Million in 2013
NODs and Auctions are trending upward.
NODs and Auctions are trending upward.Drop in January attributed to CAHomeowner Bill of Right, which went into affect Jan. 1. Artificial low caused by new law.Similar trend in NV. Now NODs are at a 20-month high. AB 284Similar pattern will play out in California. Also, we saw this in New York, New Jersey and Florida (HB 87).
Institutional buyers increasing activity in Florida and Georgia, especially Atlanta.We define an institutional buyer as someone who buys 10 or more properties in 12-month period.
102 – Active185 – Back-up – Pending287 Total homes for sale
Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
90 – Active185 – Back-up – Pending287 Total homes for sale
102 – Active243 – Back-up – Pending345 Total homes for sale
Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
161 – Active293 – Back-up – Pending454 Total homes for sale
Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
38 – Active21 – Back-up – Pending454 Total homes for sale
Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
High Desert home prices inching up.Trending upward.
High Desert home prices inching up.Trending upward.