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2012-03-12 20:18:54
Forclosure inventory is reducing

The real estate companies at Bear Lake have been busy this winter.  During December, January and February we have been signing contracts to sell short sale and forclosure properties.  The inventory is definitely shrinking with these kinds of properties.  We are finding that there are still new ones coming on the market, but more are selling than are being listed.  That is speaking positively about the direction of the market.  We think it is a positive developement.  This article is interesting.

Please leave a comment at the bottom of this page if you have input.  thanks

Paul

Gov't Trims Half of Its Foreclosure Inventory

The government was able to chip away at its foreclosure inventory in 2011, reducing it by nearly half, HousingWire reports in analyzing financial statements from three government enterprises. 

From the end of 2010 to 2011, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development saw a 49 percent reduction in the number of REO properties it owns. The three government enterprises held about 150,700 properties as of Dec. 31, 2011, compared to 296,000 at the end of 2010.

“The GSEs sold REOs at a record pace in 2011,” HousingWire reports. “Combined, both sold more than 353,000 previously foreclosed property for the year.”

Here’s a closer look by how much the government enterprises trimmed their foreclosure inventories: 

  • HUD: Reduced its foreclosure inventory to about 32,000, a 47 percent drop from more than 62,000 it held at the end of 2010.   
  • Fannie: Reduced its foreclosure inventory to more than 118,000, which is down 27 percent from about 162,000 at the end of 2010.
  • Freddie: Reduced its REO inventory to 60,500, down 16 percent from more than 72,000 in 2010.
 
Blog Archive
2013-03-11 16:50:44
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2013-01-29 14:21:11
January 2013 Newsletter - Paul Webb - Recreation R

2013-01-17 11:11:39
Justify the Sale Price of Your Cabin - Recreation

2013-01-17 11:07:02
2013 Housing Predictions - Recreation Realty

2013-01-03 12:04:44
Shadow Inventory Threat Wanes - Bear Lake Real Est

2012-12-14 16:13:21
Credit s for Lenders - Recreation Realty

2012-11-12 12:31:06
Cautious Optimistism in Real Estate - Recreation R

2012-11-07 12:24:41
Obama victory will affect Real Estate at Bear Lake

2012-09-07 11:58:06
Obama will protect the mortgage interest deduction

2012-08-31 13:35:52
Buyers Worried They're Losing Bargaining Power

2012-08-13 14:16:36
4 Reasons To Buy Now

2012-07-18 14:30:58
Inventory numbers are good news

2012-06-14 15:04:18
Another round of increased forclosure and short sa

2012-04-26 17:32:19
Increased activity and sales at Bear Lake

2012-04-24 15:03:41
Are Low Ball offers a thing of the past?

2012-04-02 16:58:37
Is a Forclosure Wave Coming this Summer?

2012-04-02 16:58:37
Is a Forclosure Wave Coming this Summer?

2012-03-23 12:30:56
Home price bottoming?

2012-03-16 13:32:09
Myths about Foreclosed homes

2012-03-12 20:18:54
Forclosure inventory is reducing

2012-03-07 12:15:04
Housing affordability at Record High....Very good

2012-03-06 13:14:58
Short Sale Questions and Answers

2012-02-13 13:17:33
Lender participation in recovery

2012-02-07 10:33:16
More Deals Falling Through

2012-01-13 11:27:18
Record low Mortgage rates

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Penilee 'Peni' Stevens
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