Home Worth Less Than Owed?
Is your home worth less than you owe? Are you trying to figure out what to do and what your options are? Visit, http://www.empireteam.com/foreclosure.php to find detailed comprehensive information on your options, all free no registration required. Empire Realty can help you will everything, developing a plan, negotiating with your lenders on a loan modification, short sales and if all else fails, plan your future beyond the home you are in today. We are here to help you, no fees no charges no bull, just straight forward information and services to help you. Don’t wait call right now, Empire Realty 909-579-6611
Here comes the second wave - Inland Empire Foreclosures
OK, we have a trend. It looks like the second wave of foreclosures is starting to come through the door, gotta love those Alt-A failure rates. Both San Bernardino and Riverside counties logged the highest notice of defaults (NOD's) in March. The trend line is really picking up, if this continues for the next couple months the market will be flooded with new inventory.
The numbers of cancelations have increased about three fold from their lows but they are still very low, this is a sign that loan mods and work outs work for a very low number of those losing their homes.
Enjoy!
Empire Realty
| San Bernardino County | |||||||||||||
| NOD's - Notice of Default | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| 2006 | 1,003 | 1,165 | 1,261 | 1,369 | |||||||||
| 2007 | 1,489 | 1,305 | 1,623 | 1,586 | 1,786 | 2,038 | 2,272 | 2,693 | 2,176 | 2,435 | 1,266 | 3210 | 23,879 |
| 2008 | 4,033 | 3,496 | 4,035 | 4,150 | 4,106 | 4,281 | 4,094 | 4,213 | 1,515 | 1,752 | 2,276 | 4016 | 41,967 |
| 2009 | 4,025 | 4,604 | 5,275 | ||||||||||
| 2008 % Change M to M | 25.6% | -13.3% | 15.4% | 2.9% | -1.1% | 4.3% | -4.4% | 2.9% | -64.0% | 15.6% | 29.9% | 76.4% | |
| 2008 % Change Y to Y | 170.9% | 167.9% | 148.6% | 161.7% | 129.9% | 110.1% | 80.2% | 56.4% | -30.4% | -28.0% | 79.8% | 25.1% | |
| 2009 % Change M to M | 0.2% | 14.4% | 14.6% | ||||||||||
| 2009 % Change Y to Y | -0.2% | 31.7% | 30.7% | ||||||||||
| NOS's - Notice of Sale | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| 2006 | 305 | 417 | 458 | 501 | |||||||||
| 2007 | 638 | 760 | 883 | 785 | 1,103 | 1,034 | 1,253 | 1,295 | 1,405 | 1,894 | 1,169 | 2,153 | 14,372 |
| 2008 | 1,981 | 1,352 | 2,615 | 2,982 | 3,359 | 3,451 | 3,650 | 3,570 | 1,936 | 2,427 | 2,901 | 2,455 | 32,679 |
| 2008 | 2,428 | 2,152 | 3,487 | ||||||||||
| 2008 % Change M to M | -8.0% | -31.8% | 93.4% | 14.0% | 12.6% | 2.7% | 5.8% | -2.2% | -45.8% | 25.4% | 19.5% | -15.4% | |
| 2008 % Change Y to Y | 210.5% | 77.9% | 196.1% | 279.9% | 204.5% | 233.8% | 191.3% | 175.7% | 37.8% | 28.1% | 148.2% | 14.0% | |
| 2009 % Change M to M | -1.1% | -11.4% | 62.0% | ||||||||||
| 2009 % Change Y to Y | 22.6% | 59.2% | 33.3% | ||||||||||
| Data Source: foreclosureradar.com - Analysis Empire Realty | |||||||||||||
| Cancelation of Auction | |||||||||||||
Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing or listing your next home in Upland, Rancho Cucamonga, Alta Loma, La Verne, Mira Loma, Riverside, Corona, Chino, Chino hills, Ontario, Claremont or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
$$$ Investors Needed $$$
We are seeking investors to help fund our business model of acquiring 200-1,000 homes in the Inland Empire of California. Within the next 18-30 months the our investment window in Southern California will close, without a solid funding source we will not meet our goals.
We are seeking a credit line that will allow us to purchase residential real estate that meets our strict return qualifications. We are presently purchasing one to two homes a month with our own capital and expect to be fully invested by the end of the year with 15-20 homes in our inventory.
Summary:
- REO and Distressed single family homes in the Inland Empire of California.
- With over 19 years experience in real estate and in the Inland Empire market we are poised to take full advantage of the cyclical Southern California real estate market.
- We are currently purchasing homes that realize cap rates in the teens with cash on cash rates of return in the high teens to 25%.
I know I know, Madoff here we come, these are real returns backed with real property, everything we all want without the Ponzi.
Contact:
Robert Huntsinger
Great Presentation on where the market is headed
Here is a link to a great presentation as to where the real estate market may be headed. Link to Presentation.
As always, it is important to read many sources as opinions are like, well you know the rest of this old saying, everyone has one.
Take care!
RJH
Riverside County Foreclosure Report - May 2008
FORECLOSURERADAR.COM – Riverside County – May 2008
In reviewing the foreclosure statistics for Riverside County we found that we are presently near the peak of the foreclosure activity in this county. Only time will tell if the foreclosure activity will surpass these levels.
Disturbing information, the ratio of the NOS’s to NOD’s with a 90 day lag has increased greatly since the first half of 2007. In the first half of 2007 the ratio was 63% now we are at 104%, a 41% increase in the rate at which NOD’s are turning into NOS’s. There are more NOS’s due to hold overs from previous months. (Why a 90 day lag on the data? NOD’s expire and move into NOS’s at 90 days)
Further, the ratio of cancelations to NOS’s has decreased sharply in the last couple years to just 11% for the first five months of the year. Historically this ratio runs around 60% of the NOS’s in an appreciating market.
The number of NOD’s have decreased 15.8% from their peak in March 2008, let’s home they do not surpass what we have seen so far.
All this data leads me to predict NOS’s will hit approx. 4,100 in July 2008.
Here is the raw data:
|
NOD's - Notice of Default |
|||||
|
Jan |
Feb |
Mar |
Apr |
May | |
|
2006 |
|
|
|
|
|
|
2007 |
1,895 |
2,080 |
2,187 |
2,117 |
2,320 |
|
2008 |
5,384 |
4,449 |
5,384 |
5,221 |
4,534 |
|
2007 % Change M to M |
9.8% |
5.1% |
-3.2% |
9.6% | |
|
2007 % Change Y to Y |
|||||
|
2008 % Change M to M |
19.9% |
-17.4% |
21.0% |
-3.0% |
-13.2% |
|
2008 % Change Y to Y |
184.1% |
113.9% |
146.2% |
146.6% |
95.4% |
|
NOS's - Notice of Sale |
|||||
|
Jan |
Feb |
Mar |
Apr |
May | |
|
2006 |
|
|
|
|
|
|
2007 |
881 |
1,040 |
1,242 |
1,080 |
1,580 |
|
2008 |
2,871 |
1,791 |
3,629 |
4,150 |
3,412 |
|
2007 % Change M to M |
18.0% |
19.4% |
-13.0% |
46.3% | |
|
2007 % Change Y to Y |
|||||
|
2008 % Change M to M |
-0.8% |
-37.6% |
102.6% |
14.4% |
-17.8% |
|
2008 % Change Y to Y |
225.9% |
72.2% |
192.2% |
284.3% |
115.9% |
|
Data Source: foreclosureradar.com - Analysis Empire Realty |
|||||
Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing or listing your next home in Upland, Rancho Cucamonga, Alta Loma, La Verne, Mira Loma, Riverside, Corona, Chino, Chino hills, Ontario, Claremont or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
San Bernardino County Foreclosure Report - May 2008
FORECLOSURERADAR.COM – San Bernardino County – May 2008
In reviewing the foreclosure statistics for San Bernardino County we found that we are presently near the peak of the foreclosure activity in this county. Only time will tell if the foreclosure activity will surpass these levels.
Disturbing information, the ratio of the NOS’s to NOD’s with a 90 day lag has increased greatly since the first half of 2007. In the first half of 2007 the ratio was 64% now we are at 84%, a 20% increase in the rate at which NOD’s are turning into NOS’s. (Why a 90 day lag on the data? NOD’s expire and move into NOS’s at 90 days)
Further, the ratio of cancelations to NOS’s has decreased sharply in the last couple years to just 12% for the first five months of the year. Historically this ratio runs around 60% of the NOS’s in an appreciating market.
The number of NOD’s have decreased 17.8% from their peak in April 2008, let’s home they do not surpass what we have seen so far.
All this data leads me to predict NOS’s will hit approx. 3,100 in July 2008.
Here is the raw data:
|
NOD's - Notice of Default |
|||||
|
Jan |
Feb |
Mar |
Apr |
May | |
|
2006 |
|
|
|
|
|
|
2007 |
1,489 |
1,305 |
1,623 |
1,586 |
1,786 |
|
2008 |
4,033 |
3,496 |
4,035 |
4,150 |
3,412 |
|
2007 % Change M to M |
-12.4% |
24.4% |
-2.3% |
12.6% | |
|
2007 % Change Y to Y |
|||||
|
2008 % Change M to M |
25.6% |
-13.3% |
15.4% |
2.9% |
-17.8% |
|
2008 % Change Y to Y |
170.9% |
167.9% |
148.6% |
161.7% |
91.0% |
|
NOS's - Notice of Sale |
|||||
|
Jan |
Feb |
Mar |
Apr |
May | |
|
2006 |
|
|
|
|
|
|
2007 |
638 |
760 |
883 |
785 |
1,103 |
|
2008 |
1,981 |
1,352 |
2,615 |
2,982 |
2,691 |
|
2007 % Change M to M |
19.1% |
16.2% |
-11.1% |
40.5% | |
|
2007 % Change Y to Y |
|||||
|
2008 % Change M to M |
-8.0% |
-31.8% |
93.4% |
14.0% |
-9.8% |
|
2008 % Change Y to Y |
210.5% |
77.9% |
196.1% |
279.9% |
144.0% |
|
Data Source: foreclosureradar.com - Analysis Empire Realty |
|||||
Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing or listing your next home in Upland, Rancho Cucamonga, Alta Loma, La Verne, Mira Loma, Riverside, Corona, Chino, Chino Hills, Ontario, Claremont or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
Dropping a Brick - Prices dropping faster than in the great depression
As reported in the Economist periodical on May 28th, 2008, home prices are falling quicker than the worst year of the great depression and has the possibility to have a greater year drop than the great depression. The full length of the great depression saw a 26% decrease in prices in five years ending in 1933.
View the complete article at the Economist.
Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing your next home in Upland, Rancho Cucamonga, Ontario, Claremont, La Verne or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
Inland Empire Home Prices Continue to Drop
Since I began watching home statistics in the Inland Empire I have seen that prices in all cities in Riverside and San Bernardino County continue to drop. Most areas are presently dropping at a rate of $12,500 a month.
The number of sales appear to have increased slightly, the summer push, but the numbers are still very low historically and come nowhere near to being able to absorb the foreclosures. Foreclosures continue to increase in numbers, Notice of Defaults are double what they were in January and will continue to weigh on the market.
My opinion is that the real drop in values will occur this fall between September and February.
I ran into a newspaper article that stated about the same.
Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing your next home in Upland, Rancho Cucamonga, Ontario, Claremont, La Verne or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
Short Sale Frustrations
I feel like we are at a point where the banks don’t care about creating a win win situation through a short sale. It feels like the banks are waiting for a bail out by the government. I recently have had countless deals where the banks have stalled and stalled, said they have everything they need, get a good BPO response and then take no action and let the property crash and burn in foreclosure. I think the banks feel that they will not have to discount a property in the Inland Empire once the government comes in and purchases their bad debt. The world is getting more odd every day!
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing your next home in Upland, Rancho Cucamonga, Ontario, Claremont, La Verne or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
Southern California Market Report - February 2008
Here is the Southern California Market report as reported from DataQuick. Note the substantial declines in value across the board. Some cities are dropping like a rock, Fontana, Victorville and Beaumont to name a few.
| All Homes | #Sold Feb-07 | #Sold Feb-08 | Pct. Chng | $Median Feb-07 | $Median Feb-08 | Pct. Chng |
| Los Angeles | 6,300 | 3,468 | -45.0% | $528,000 | $460,000 | -12.90% |
| Orange | 2,449 | 1,471 | -39.9% | $620,000 | $520,000 | -16.10% |
| Riverside | 3,057 | 2,147 | -29.8% | $410,000 | $325,000 | -20.70% |
| San Bernardino | 2,274 | 1,242 | -45.4% | $368,750 | $290,000 | -21.40% |
| San Diego | 2,863 | 1,954 | -31.7% | $480,000 | $415,000 | -13.50% |
| Ventura | 737 | 495 | -32.8% | $584,000 | $445,000 | -23.80% |
| SoCal | 17,680 | 10,777 | -39.0% | $495,000 | $408,000 | -17.60% |
You need informed real estate assistance when purchasing a home, without insights into where the market is headed and detailed area information you are at the mercy of the market.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing your next home in Fontana, Victorville and Moreno Valley or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount