Home > Blogs > California > Riverside County > Palm Springs > Foreclosures Continue to Decline

Nancy Hankin's Blog

By Nancy Hankin, REALTOR | Broker in Palm Springs, CA

Foreclosures Continue to Decline

It’s about time we see reports like these instead of all the negative news the media keeps feeding us!

David Blitzer, the Chairman of the Index Committee wrote an article January 26, 2012 in the Housing Matrix about Foreclosures. He states RealtyTrac reports that foreclosure activity across the US in December, and the full year 2011, dropped sharply.

Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008. Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier years were 2.23% in 2010, 2.21 in 2009 and 1.84% in 2008. December foreclosure activity hit a 49 month low, down 9% from November and 20% from December 2010.

On the otherhand…….

Mortgage Rates Are on the Rise Due to Better Housing Reports

Wall Street Journal - Mia Lamar - Rates for fixed mortgages moved higher over the past week amid positive signals from the long-suffering U.S. housing market, according to Freddie Mac’s weekly survey of mortgage rates.


Remodels See Business Improving


Mortgage News Daily - Jann Swanson - Like their home-building counterparts, remodelers who are members of the National Association of Home Builders (NAHB) are displaying more confidence in their industry than they have in years.  The NAHB's Remodeling Market Index (RMI) for the fourth quarter of 2011 which measures remodelers' sentiments about their business climate rose to 46.6 its highest level in five year.  In the third quarter the Index was 41.7.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificate towards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor
Nancy Hankin



Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer