Jay McHugh Newsletter
1
Phone: 617-699-7442 | Email: [email protected] Jay McHugh 420 Harvard Street Brookline, MA 02446 I am available to assist you in purchasing a foreclosure property or another property best suited to your needs. Buying or selling, I am here to act as your local real estate specialist. February 2011 Vol. 5, Issue 5 6 month National Foreclosure Trends NOD NTS NFS LIS REO Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006. There are new rumblings in Washington and perhaps a growing consensus regarding how to end the foreclosure mess. The solution? Change the rules. This is big stuff for those with an interest in buying foreclosures. The latest quarterly figures from RealtyTrac show that foreclosed properties represent one in four sales nationwide and that distressed properties are typically selling with a 32 percent discount. But what happens to foreclosure values and local real estate prices if the supply of distressed properties is reduced? With fewer distressed properties local home prices in many areas would likely stabilize if not actually rise. Are New Foreclosure Rules Coming From Washington? Here are some of the most recent Investment opportunities in the area. Property Type Address Amount Default Sq. Ft. Bank-Owned E India Row # PHG, Boston, MA 02110 $544,500 N/A 0 Auction Date: 3/3/11 Auction Ellingwood St, Boston, MA 02120 N/A N/A 1,339 Howland St Boston MA, 02121 Amount N/A Beds/Bath 6/2 Sq. FT 4,606 Pre-Foreclosure FORECLOSURE TRENDS : DECEMBER 2010 NATL MA NORFOLK CTY NODs 36,935 0 0 NTSs 88,483 0 0 NFSs 23,699 635 38 LISs 38,783 532 40 REOs 69,847 472 31 Proposed Foreclosure Protections Could Close Title Gaps If a few Virginia lawmakers have their way, the business of selling mortgage-backed securities worldwide could radically change, property titles would be more certain, foreclosures would always be reviewed by a judge and maybe — just maybe — the cost of mortgage financing would soar. How is it possible for a few state officials to completely tilt the financial system? To answer this question — and to see why Wall Street is beginning to shudder — we have to look at how mortgages are made.
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Transcript of Jay McHugh Newsletter
Phone: 617-699-7442 | Email: [email protected]
Jay McHugh 420 Harvard Street Brookline, MA 02446
I am available to assist you in purchasing a foreclosure property or another property best suited to your needs. Buying or selling, I am here to act as your local real estate specialist.
February 2011 Vol. 5, Issue 5
6 month National Foreclosure Trends
NOD NTS NFS LIS REO
Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.
There are new rumblings in Washington and perhaps a growing consensus regarding how to end the foreclosure mess. The solution? Change the rules. This is big stuff for those with an interest in buying foreclosures. The latest quarterly figures from RealtyTrac show that foreclosed properties represent one in four sales nationwide and that distressed properties are typically selling with a 32 percent discount. But what happens to foreclosure values and local real estate prices if the supply of distressed properties is reduced? With fewer distressed properties local home prices in many areas would likely stabilize if not actually rise.
Are New Foreclosure Rules Coming From Washington?
Here are some of the most recent Investment opportunities in the area.
Property Type Address Amount Default Sq. Ft.
Bank-Owned E India Row # PHG, Boston, MA 02110 $544,500 N/A 0
Auction Date: 3/3/11
Auction Ellingwood St, Boston, MA 02120 N/A N/A 1,339
Howland St Boston MA, 02121
Amount N/A Beds/Bath 6/2 Sq. FT 4,606
Pre-Foreclosure
FORECLOSURE TRENDS : DECEMBER 2010
NATL MA NORFOLK CTY
NODs 36,935 0 0
NTSs 88,483 0 0
NFSs 23,699 635 38
LISs 38,783 532 40
REOs 69,847 472 31
Proposed Foreclosure Protections Could Close Title Gaps If a few Virginia lawmakers have their way, the business of selling mortgage-backed securities worldwide could radically change, property titles would be more certain, foreclosures would always be reviewed by a judge and maybe — just maybe — the cost of mortgage financing would soar. How is it possible for a few state officials to completely tilt the financial system? To answer this question — and to see why Wall Street is beginning to shudder — we have to look at how mortgages are made.
