This shadow inventory doesn’t even delinquent loan owners that behind on their payments, but not yet into foreclosure.
May Foreclosure Starts Nearly Triple Sales: LPS
07/09/2012 By: Esther Cho
In May, foreclosure starts outnumbered foreclosure sales by a near 3-1 ratio, according to a report from Lender Processing Services (LPS).
Even though foreclosure starts and sales saw similar monthly increases in May, 11.6 percent and 10 percent respectively, the actual number of foreclosure starts was significantly higher than foreclosure sales. Foreclosure starts numbered 202,707 while foreclosure sales totaled 73,439.
Also, foreclosure inventory maintained historically high levels at 4.14 percent.
LPS Applied Analytics SVP Herb Blecher said the situation is more nuanced when looking at the breakdown between states that apply judicial versus non-judicial foreclosure processes.
“There’s a stark contrast in foreclosure inventories between judicial and non-judicial states,” said Blecher. “In the former, 6.5 percent of all loans are in some stage of foreclosure – that’s more than 2.5 times the rate in non-judicial states where only 2.5 percent of loans are currently in the foreclosure pipeline.
Anaheim Overview
| Median home price is $309,000. Based on a rental parity value of $450,000, this market is under valued. |
| Monthly payment affordability has been worsening over the last 5 month(s). Momentum suggests worsening affordability. |
| Resale prices on a $/SF basis declined from $216/SF to $214/SF. |
| Resale prices have been weak for 12 month(s). Price momentum suggests weak prices over the next three months. |
| Median rental rates increased $41 last month from $$1,825 to $$1,866. |
| Rents have been slowly rising for 12 month(s). Price momentum suggests slowly rising rents over the next three months. |
| Market rating = 8 |
Proprietary OC Housing News home purchase analysis 
389 West SUMMERFIELD Cir Anaheim, CA 92802
$269,000 …….. Asking Price
$475,000 ………. Purchase Price
10/25/2005 ………. Purchase Date
($206,000) ………. Gross Gain (Loss)
($38,000) ………… Commissions and Costs at 8%
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($244,000) ………. Net Gain (Loss)
============================================
-43.4% ………. Gross Percent Change
-51.4% ………. Net Percent Change
-8.3% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$269,000 …….. Asking Price
$9,415 ………… 3.5% Down FHA Financing
3.80% …………. Mortgage Interest Rate
30 ……………… Number of Years
$259,585 …….. Mortgage
$79,794 ………. Income Requirement
$1,210 ………… Monthly Mortgage Payment
$233 ………… Property Tax at 1.04%
………… Mello Roos & Special Taxes
$67 ………… Homeowners Insurance at 0.3%
$270 ………… Private Mortgage Insurance
$281 ………… Homeowners Association Fees
============================================
$2,061 ………. Monthly Cash Outlays
($185) ………. Tax Savings
($388) ………. Equity Hidden in Payment
$12 ………….. Lost Income to Down Payment
$54 ………….. Maintenance and Replacement Reserves
============================================
$1,555 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$4,190 ………… Furnishing and Move In at 1% + $1,500
$4,190 ………… Closing Costs at 1% + $1,500
$2,596 ………… Interest Points
$9,415 ………… Down Payment
============================================
$20,391 ………. Total Cash Costs
$23,800 ………. Emergency Cash Reserves
============================================
$44,191 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..
We're sorry, but it seems that we're having some problems loading MLS # S703818 from our database. Please check back soon.
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$236,900 2330 South S. CUTTY Way #93 |
0.14 miles 2 bd / 2 ba 1,200 Sq. Ft. |
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$279,000 12664 CHAPMAN Ave #1202 |
0.28 miles 2 bd / 2 ba 1,200 Sq. Ft. |
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$328,900 12664 CHAPMAN Ave #1004 |
0.28 miles 2 bd / 2.5 ba 1,490 Sq. Ft. |
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$285,000 1003 West ORANGEWOOD Ave |
0.71 miles 3 bd / 1.5 ba 1,253 Sq. Ft. |
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$187,500 12871 FOREST Dr Unit A |
1.1 miles 2 bd / 1.25 ba 1,044 Sq. Ft. |
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$349,990 12834 PALM St #5 |
1.1 miles 3 bd / 3 ba 1,507 Sq. Ft. |
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$150,000 1801 East KATELLA Ave #1036 |
1.46 miles 0 bd / 1 ba 535 Sq. Ft. |
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$229,999 1801 East KATELLA Ave #1153 |
1.46 miles 0 bd / 1 ba 784 Sq. Ft. |
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$235,000 1801 E Katella Ave Apt 3132 |
1.46 miles 1 bd / 1 ba 651 Sq. Ft. |
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$150,000 1801 East KATELLA Ave #1047 |
1.46 miles 1 bd / 1 ba 784 Sq. Ft. |
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California moved to the No. 1 spot on the foreclosure list for the first time since RealtyTrac started issuing foreclosure reports in 2005, thanks to an 18 percent year-over-year increase in foreclosure starts there in June
http://www.housingwire.com/news/realtytrac-2q-foreclosure-activity-rises-some-states-see-reboot