Who can be sure if the real estate market is actually recovering with so many different versions of what” is” or some “think” is happening.  Depending on the day of the week or the week of the month the stories fluctuate. In a recent article in on line edition of Realtor Magazine.

A decline in recent foreclosure filings doesn’t necessarily mean that it is over. It could there is a backlog already in the pipeline that banks want to dispose of before they take any more into the process.  Below is an excerpt from the article:

The number of home owners who were put on notice for defaulting on their mortgage payments dropped last month to the lowest level since 2006, RealtyTrac reports. Meanwhile, foreclosure filings for the eighth straight month also were down as filings fell 33 percent in May compared to a year earlier and 2 percent month-over-month. Also, lenders took back fewer homes in May, the second straight month of declines. And bank repossessions were down in May too down nearly 30 percent over the last 12 months. Overall, banks hold 2 million homes in some stage of foreclosure. Banks are on track to repossess about 200,000 fewer homes this year than in 2010; the projection is 800,000 this year compared to 1 million last year.”  To read the article in its entirety follow this link Signs of a Real Estate Recovery.

San Ramon Valley Distressed Property Overview

The overall picture for the country is different by region, state and city. Even within cities there are pockets of real estate that have not declined as much as other areas. Here is a recap of what is happening in San Ramon Valley real estate this year:

From January thru May Short Sale Listings are down 68%——-REO’s up 7%

City

January

February

March

April

May


SS

REO

SS

REO

SS

REO

SS

REO

SS

REO

Alamo

2

2

3

6

4

2

2

4

2

Blackhawk

1

3

1

3

1

Danville

21

8

20

11

25

14

20

10

21

6

Dublin

32

7

31

9

37

14

34

7

17

12

San Ramon

57

18

42

13

36

28

33

21

27

19

Walnut Creek

26

19

26

21

32

23

25

22

26

18

Total

138

53

124

58

138

83

115

62

95

57

SS = Short Sales       REO = Bank Foreclosures

About Linda Urbick Linda

has written 258 articles on this blog.


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