Here is the Take Away!
1. Active Notices of trustee sale for residential properties as of the end of April’12 were 17,768 units. Up from last month of 16,947. Down from the all-time high of December ’09 of 47,606.
2. Residential Foreclosures were at their all-time high in March 2010 at 5,451. Residential foreclosures were 1647 last month. This was down by 316 units from March.
3. The residential REO properties are sitting at 6,711 vs. last month of 7,408. Down 697 units from last month! April of 2011 there were 19,322 REO properties, down 65%! Listed REO properties are approximately 1345 units and pending are 2120. That tells us that there are approximately 3246 properties that are foreclosed but not yet on the market.
4. Normal Sales are at the highest point in the last 5 years. They represent 56% of total sales!
Business continues to be strong. We have a rare opportunity for buyers! Interest rates are very low and prices are still low….. But not for long. REO (Bank Owned) properties seem to be going away as short sales continue to get approved.
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