Here are some interesting Housing Facts that were shared by our paid service, The Mortgage Market Guide on 3/17/11.
We are at a 40-month low in April for foreclosures. 9% decrease from March and 34% decrease from a year ago.
400 days to execute a foreclosre in 2011, up from 330 in 2010 and 150 days in 2007. Ugh...
3.7 Million homeowners are 90+ days delinquent on homes. This isn't good becuase we have another round of homes saturating the market.
900,000 to 1 Million REOs on the bank books, but less than 30% are available for sale. Demand is so weak, it doens't make sense to accelerate foreclosures.
Good News, indications that major banks selling profolios of non-performing assets (mortgages) rather than putting buyers in to foreclosure. Usulaly this type of move is seen at or near the bottom of the market. MMG believes we might see a recovery in the later 2011.
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