Tag Archives: housing distress

Housing Distress Dropping or Hiding & Could be Scarier than Halloween?

San Diego-based Data Quick said last Tuesday that Foreclosure Starts or properties entering the foreclosure process are at the lowest point since 2006. See the article-(Click here

The question is, how valid is this statement? Or is this just a preliminary report, “hiding” the fact that there is still plenty of underwater property being led to the slaughter by the nation’s lenders, albeit in a timely manner so as not to disrupt the housing recovery?

It does make sense that lower unemployment & Real Estate Inventory causing rising values, then mortgage servicers and lenders bending over backwards to keep homeowners in their homes that these numbers are falling to record lows; however the flood waters being held by the dam do continue to swirl, albeit a lot of nervous homeowners wondering what will happen or do next.

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San Diego foreclosures at 6-year low

San Diego County closed out 2012 with foreclosures at their lowest level in six years, says a report released Wednesday from local real estate information company DataQuick.

foreclosuresThe consistent drop in the number of people losing their homes to bank repossessions appears to be a product of an economy on the mend, increasing home values and government-led deals with major banks that promise borrowers alternatives to foreclosure, DataQuick officials said.

December foreclosures plummeted to 355, the lowest level since December 2006, when 288 were recorded. December’s total is nearly 18 percent lower than November’s and half of December 2011’s.

Default notices, the first official filing in the foreclosure process, totaled 878. That’s up 7.2 percent from November but down nearly 30 percent from the same month a year ago…

Read the rest of this article by U-T San Diego here: “San Diego foreclosures at 6-year low”.