“While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up,” James [...]
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“The big increase in new foreclosure actions (from July) may be a signal that lenders are starting to pushthrough some of the foreclosures delayed by robo-signing and other documentation problems,” James [...] “With average prices on distressed real estate trending down and average discounts trending up, this report is clearly good news for well-positioned buyers and investors looking for bargain real estate that will build them wealth in the long term and often cash flow as rental real estate in the short term,” James [...] “Unfortunately, the falloff in foreclosures is not based on a robust recovery in the housing market but on short-term interventions and delays that will extend the current housing market woes into 2012 and beyond,” James [...] “These dramatic decreases indicate the foreclosure pipeline continues to be clogged in many local markets across the country, sometimes by a glut of already-foreclosed properties that are not selling quickly, sometimes by a mountain of improperly filed foreclosures that are blocking the inflow of new foreclosure filings — and sometimes by both,” James [...] “Foreclosure processing delays continue to mask the true face of the foreclosure situation, although there were some clues in the May numbers of what lies behind that mask,” James J. [...] “…there are a lot of ready buyers for distressed properties,” Ryan [...] “This slowdown continues to be largely the result of massive delays in processing foreclosures rather than the result of a housing recovery that is lifting people out of foreclosure,” James J. [...] “Given the larger economic picture, I certainly don’t see any reason why Colorado’s foreclosure picture should necessarily be improving compared to the nation, especially considering January’s employment numbers for Colorado,” Ryan [...] “The Catch-22 for 2011 is that while accelerating foreclosure sales will help clear the oversupply of distressed properties and return balance to the market in the long run, in the short term a high percentage of foreclosure sales will continue to weigh down home prices, ” James J. [...] |
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