In Massachusetts 566 foreclosures were completed in August, which is the lowest level recorded in 2012 thus far?according to The Warren Group. August is also the 3rd consecutive month in which we saw a year-over-year decrease in foreclosure deeds. August also boats the lower number of foreclosure completions since February 2011. Between August 2011 and August 2012 foreclosure deeds dropped by 40% from 947 to 566.
Banker & Tradesman Editor, Cory S. Hopkins, said, ?Fewer foreclosures were completed in recent months, which may indicate a greater effort from lenders to find loan alternatives. As banks continue to return to more normal foreclosure procedures and the housing market follows the same path, we are likely to see more good news in coming months.?
On the other hand, petitions increased a bit between August 2011 and August 2012 from 1,397 to 1,456?a 4.2% increase. Each month thus far petitions have increased, with the exception of July in which starts dropped year-over-year by 16.8%. So far in 2012, 12,079 foreclosure petitions have been initiated?an increase of 46% from 2011?s 8,253 filed during this same length of time.
According to The Warren Group, auction announcements also decreased in August by 18%?from 1,329 in August of 2011 to 1,084 in August 2012. Auction announcements from January through August of this year have declined 9.2% when compared with last year?s numbers during the same stretch of time.
What do you think this means for Boston real estate? Do you think foreclosures will continue to decrease?
Source: http://www.firstbostonrealty.com/blog/lower-foreclosure-deeds-in-august-this-year/
revenge revenge once upon a time once upon a time adam shulman adam shulman dexter
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.