Alert: Foreclosure Activity at Lowest Level in Three Years

Data just released by RealtyTrac shows that processing delays have reduced foreclosure activity to its lowest level since the first quarter of 2008. During the first three months of this year, the tracking firm says one in every 191 homes in the United States received a foreclosure filing. Lenders completed foreclosure actions on 215,046 properties in the first quarter, a 17 percent decline from a year ago. Weak demand, declining home prices and the lack of credit availability are weighing heavily on the market, which is still facing the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork.

Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885,
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
Accredited Buyer Representative | Certified Distressed Property Expert | Pre-Foreclosure Specialist Certified

I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.

Get your Instant Home Value…