NODs (notice of default) were up by 35% in August as compared to the previous year at this time, and up by 76.9% from the previous month. NOS’s (notice of sale) were down in both instances as banks prefer not to add to their inventory. The highest number of NOS’s was issued to properties priced over $1 million.
Although NODs have increased this year the pre-foreclosure, scheduled for sale and bank owned inventory has fallen.
On the positive side, the East Bay had some welcome news on the job front with approximately 3,700 positions added in July and a total of 9,000 in the nine-county Bay Area. Mortgage interest rates remain at record lows. However, the stock market continues to experience wild swings and the European economy continues to cast a shadow on ours. New home sales remain weak due to the bargains in the resale home inventory
For more information, please visit http://www.anju4homes.com/ or contact anju@anju4homes.com
No comments:
Post a Comment