Real Estate News

It may seem that the news from California real estate could not be worse. So when encouraging news happens, we get the most out of it. For example, in the second quarter of this year Notices of Default (NOD) decreased by almost 14 percent over the first quarter and 44 percent from the second quarter of 2009.

According to MDA DataQuick’s total second quarter was the lowest in almost three years. “Sellers motivated and capable lenders played a role in what the default number down, especially with short sales,” said John Walsh, DataQuick president. “If prices continue to rise, fewer homeowners are under water, which is a significant factor in selling a house,” he said.

The tendency of the sub-market defaults, the areas / zip codes with median equal to or less than $ 300,000, continues to decline. Homes in neighborhoods of greater value, the median $ 800,000 or more, have been reduced and represent a larger percentage of total violations statewide. Fewer cheap homes are receiving NOD is now the largest number of homes receiving notices value, while relatively stable, is now a large percentage of the total NOD.

Areas with medium 11 will receive nearly $ 300,000 default notices per 1,000 households. In comparison, the Read the rest of this entry »