Home > Blogs > Mark Bartikoski's Blog
208 views

Mark Bartikoski's Blog

By Mark Bartikoski | Agent in Wayzata, MN
  • Annual Foreclosure Filings Down for 11th Straight Month

    Posted Under: Foreclosure in Minneapolis  |  September 15, 2011 5:13 PM  |  128 views  |  No comments

    On an annual basis, foreclosure filings fell last month. As compared to August 2010, last month’s foreclosure filings dropped 33 percent. ”Foreclosure filing” is a catch-all term, comprising default notices; scheduled auctions; and bank repossessions.

    The study was published by foreclosure-tracking firm RealtyTrac and this month’s report reveals a slowing rate of foreclosure within each of the Top 10 most foreclosure-heavy states.

    All news is not good, however. 

    On a monthly basis, foreclosure filings spiked, led by a surge in default notices. Default notices made their biggest one-month jump since August 2007 on the way to a 9-month high last month. Default notices are the first step in the foreclosure process so this jump may foreshadow a large number of bank repossessions as foreclosures “make their way through the process“.

    It’s also noteworthy that just 6 states housed half of the nation’s bank repossessions last month.

    • California : 18 percent of bank repossessions
    • Florida : 8 percent of bank repossessions
    • Georgia : 7 percent of bank repossessions
    • Michigan : 6 percent of bank repossessions
    • Texas : 6 percent of bank repossessions
    • Arizona : 6 percent of bank repossessions

    As a home buyer in Sacramento , foreclosures can save you money. The National Association of REALTORS® reports that distressed homes sell with typical discounts of 20 percent versus comparable, non-distressed homes. However, buying a home from a bank is a different process from buying a home from a “person”. Contract negotiations are different and it can take months to finally close on a foreclosed home.

    If you’re buying a foreclosed, therefore, enlist the help of a professional real estate agent. Real estate agents can help you navigate the sometimes-complicated world of foreclosures, and help you come out ahead.

  • Things are looking up!

    Posted Under: Market Conditions in Minneapolis  |  March 24, 2010 9:20 AM  |  128 views  |  No comments
    Forbes just named Mpls/St. Paul #4 in the Top 10 Best Real Estate Markets in the US. This list was compiled by home affordability, percentage of foreclosures and current pricing. Our market seems to be recovering nicely with and an active sring market underway.

    All indications are that our local market has become more stable without the heavy listing inventory we have had the last 2 years. These factors will bring not only a more stable market but a more balanced market between buyers and sellers.

    All in all I think this indicates our market is going to steadily get stronger and begin the recovery we have all been hoping for. Click here to see the entire article.  http://www.forbes.com/2010/02/19/best-housing-prices-personal-finance-real-estate-affordable-homes_slide_8.html
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer