Archive for February, 2011

4th Quarter Foreclosure Closings Fall by 72%

Saturday, February 12th, 2011

 

The 2010 full year sales numbers show a dramatic decrease in Foreclosure Closings in the 4th Quarter of 2010.

Foreclosure Closings represent those properties that have been lost by the homeowner after going through the complete foreclosure cycle (Lis Pendens, Judgment of Foreclosure and Auction Sale).

The chart and table below show the figures for the past 5 years.

 

 

As the chart clearly shows, beginning at the end of 2006, Foreclosure Filings began a remarkably consistent rise over seven quarters, raising the quarterly rate by 330%. The count then leveled off for the next 9 quarters, averaging approximately 550 closings per quarter.

The 4th quarter of 2010 has recorded only 157, representing a 72% drop from the average of the past 9 quarters.

Many Foreclosure Closings are filed much later than they actually occur, but it is not likely that the late filings will significantly impact these numbers.

 

For complete information on Long Island Sales and Lis Pendens, visit

The Long Island Real Estate Report Stats/Trends area.

Median Home Sale Prices Nationwide Improve!

Friday, February 11th, 2011

 

National Association of Realtors, (NAR), based in Chicago, reported yesterday…what we in the business have been feeling since December…The housing market is improving!
            Nationwide, median home sale prices rose 0.2%.
            In the New York area median home sale prices jumped 4%, and in the Washington region, an incredible 8.1%!
            Here on Long Island the 4th Quarter median home sale price was a 1.4% increase from the prior year.
            Town & Country Real Estate’s 2010 Year End Hamptons Home Sales Report showed a median home sale price increase of 0.55% year over year, further conforming prices have stabilized and are beginning their next ascend. CLICK HERE to view all Home Sales Reports for the Hamptons, North Fork and Shelter Island.
            Free Market Inc. (FMI), published Feb 9, 2011, Housing Inflation Starting to Accelerate, predicting “prices to improve nicely in 2011-12”.
            Lastly, with interest rates on the rise, one has to question why anyone would wait any longer to pull the trigger. Every indicator is pointing to “BUY NOW!”
            The ship is getting ready to sail, are you on board?

Eve Robin Jarrett’s Mortgage Market Weekly

Tuesday, February 8th, 2011

EVE ROBIN JARRETT’S MORTGAGE

MARKET WEEKLY

MORTGAGE MARKET WEEKLY UPDATE

Tuesday, February 8th, 2011

http://www.mmgweekly.com/w/index.html?SID=1026d8c97a822ee171c6cbf939fe4aca

MORTGAGE MARKET WEEKLY UPDATE LINK

Tuesday, February 8th, 2011

http://www.mmgweekly.com/w/index.html?SID=1026d8c97a822ee171c6cbf939fe4aca

Busiest December and January in years…

Tuesday, February 1st, 2011

All 8 Town & Country Offices are pleased to report the busiest December and January in many years! In December, new business was up a whopping 240% more in Town & Country offices from the prior year.

From cottages to castles, activity in each market has heightened. Call your Town & Country associate to view the best selection of Hamptons and North Fork properties.