Foreclosures in the U.S. were down more than 20 percent in 2015, with Maryland leading the way with a 59 percent decline in foreclosures for the year.
That's according to Irvine, California-based real estate data firm CoreLogic Inc. (NYSE: CLGX) and its chief economist, Frank Nothaft.
In December, the national foreclosure inventory — the number of mortgaged homes that are in the foreclosure process — was down 2.4 percent from November, representing 50 months of consecutive year-over-year declines, CoreLogic reports.
The double-digit drop in foreclosure rates is the lowest level since 2006, before the housing crisis and the Great Recession. The current 1.1 percent foreclosure rate nationally is back to November 2007 levels, says CoreLogic.
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6 comments:
There reports are simply lies. Until the bank takes action it can sit for years and not be counted. There are at least 20 home for sale in a neighborhood on the east side alone, and last I saw more than 1600 home for sale in Ghettobury.
Government and media hocus pocus. Feeling warm and fuzzy now that you know that THEY think we are all doing fine.
The are juking the numbers. They (the banks) are now just releasing some home in OC to be sold.
It is all a sham
They have already foreclosed on most properties in the region in last six years. There is not a whole left out there.
10:40 you may be in denial. It is still going on, much more than you realize. There are 4 in a 2 block radius in my neighborhood. 1 has actively been counted, 3 have not.
Absolutely true. Once a property reverts to the bank, or to HUD, it can sit vacant and decaying for years. They deteriorate rapidly without anyone living in them. They need proper ventilation and conditioned living space to prevent mold, for one thing. And they can get overgrown to the point that saplings start pushing through sidewalks, up against foundations, and so on. Vines climb up and over, destroying siding, fascia and roofs if not removed.
Before you know it, the place looks like a jungle overrunning a dilapidated old house, and that isn't good for anyone's property values.
Salisbury is pretty good about keeping up on code enforcement, compared to other areas. I don't think Pocomoke even bothers, considering some areas. Like off the road near the bridge...houses with vines all over them, badly peeling paint...and that's not just the foreclosures either. A lot of that is rentals, and the landlords don't care as long as that Section 8 check keeps showing up.
The subprime market is still floundering but now it's coupled with the inability to find jobs because Maryland scares businesses away! You voted for this!
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