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Posts tagged ‘REO’

Feb 22

Distressed Properties in 2011

In the areas of North Santa Rosa Beach, South Santa Rosa Beach, South Walton East, and Point Washington from January 1st, 2011 to December 31st 2011 (the year of 2011) there were 692 Total Residential Single Family Homes Sold. Of the total 692 sales in these areas, 153 were Short Sales, meaning 22% of Sales of Residential Single Family Homes were sold at a price less than the owner owed on the mortgage. The total number of foreclosure (REO-Real Estate Owned) properties was 105, meaning 15% of homes sold in our area last year were bank owned.

Nov 11

U.S Foreclosure Activity hit 7-month High in Oct

According to Florida Realtor News, Associated Press:

The U.S. saw a total increase of 10 % in October from September in the properties that received an initial default notice. Florida saw a much higher increase in just a month, seeing a 28% jump from September to October in homes receiving an initial default notice. In the U.S. a total of 230,678 homeowners received a foreclosure-related warning in October. This is up 7 %  from September, but down 31 % from October 2010.  Foreclosure auctions for the U.S. rose 7 % from September but increased by 35 % in Florida.

The article also states “Industry experts say a housing market turnaround isn’t likely to occur as long as there remains a glut of potential foreclosures hovering over the market, so October’s increase in foreclosure activity means a potentially faster revival for housing.”