Although it is still about foreclosures, interest rates, Robo-Signing settlement, appreciation, or lack of, there were some teeny weeny rainbows in the articles.
1) Rate of Properties Entering Shadows = Rate of Properties Finding Light ~ I think the title sheds the light on the subject matter. The current rate that people are going into foreclosure is matching the number of distressed sales being completed. That's good. Of course, it'd be better in the Santa Clarita and San Fernando Valleys if we had a little heavier weight on the side of sales! Inventory is at a record low.
2) Zillow Survey: Prices Projected to Fall ZERO~POINT~SEVEN %, But Rise Next 4 Years ~ The survey was only responded to by 104, but they were Economists, Real Estate experts, and Investment & Market Strategists. So, I'm holding that one with high hopes!
3) Number of Overdue Mortgages Drops to 5,846,000 ~ Doesn't seem like something to get excited over, but if the number of delinquent homeowners is going down instead of up, that is another good thing. And, these numbers were comparing prior month and the prior year.
4) This one is not so good, or you would think ~ Survey Suggests More Homeowners Are Open To Strategic Default ~ Oh yes, this annoys the heck out of me. So, I'm going to keep going and be gracious about the first three I noted above.
5) And, in the L.A. Times this morning ~ Federal Reserve to Fine Eight More Banks on Foreclosure Violations ~ So, if you were bummed that your home loan wasn't being carried by the first Big Five in the Robo-Signing Settlement, here is another chance that your bank will be making some amends!
Real Estate in the Santa Clarita Valley is changing daily. Mark my website as a favorite so you can check back regularly and keep current on what is happening in our community.