Are home foreclosures really down, or is the Realty Trac report exaggerated?
Realty Trac’s report is saying foreclosure fillings went down 2% in April 2010 from April 2009.
Nevada is still the highest. This is their 40th month. Not surprisingly, Arizona and Florida are next highest for foreclosures.
There could be several reasons for this, is we can really believe this report. One reason for the possible decline is that lenders are being more responsible with loans. They’re not lending to high risk borrowers like they were in 2006.
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Sales of California foreclosures accounted for 38 percent of all home resales in April. A total of 37481 pre-owned housing units and new homes were sold in April, an increase of 0.5 percent from March total sales.
Foreclosures were significantly more popular among buyers than short sales, which isn’t surprising given the uncertainty about how long banks will take to respond to short-sale offers. (The “short” in “short sale” refers to selling for …