?Foreclosures ? Real Estate Louisville KY
Foreclosure filings in April fell for the third straight month to the lowest level since July 2007.
Total foreclosure activity for April, including default notices, scheduled auctions and bank repossession?s, was down 5% from March, according to RealtyTrac.
Considering all the hype of excess shadow inventory, this is a little bit of a surprise. Foreclosures on Real Estate in Louisville seem very low. The homes for sale in Louisville are not being effected at all.
Bank repossession?s declined considerably nationwide. There had been 51,415 repossession?s last month, down 26% from a year ago, and about half the 102,000 monthly repossession?s from the peak in September 2010.
I always try to report the WHY as well as the WHAT so..a lot of the improvement, however, can be attributed to declines in only a handful of states, particularly those that had been hardest hit by the housing crisis and which didn?t need judicial evaluation of foreclosures.
In Arizona and Nevada, for instance, bank repossession?s were down roughly 70%. In California, they were more than 50% lower.
States that do need judicial evaluation, like Kentucky and Indiana nevertheless, are only now catching up to foreclosure filings that had been delayed in the wake of the robo-signing scandal in 2010.
Stay tuned for the next report, but, no one can disagree this is not a positive trend for our country.
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