Short Sales in Aventura and Miami Beach are on the DECLINE
Jul 17, 2011

Short Sales in Miami Beach are on the DECLINE

As quoted by Tim Tresslar, Staff Writer of the Dayton Daily News.

Foreclosure activity in the Dayton region remained flat in June compared to a year ago, with Greene and Miami counties reporting the biggest declines, according to a real estate data firm.

Properties in the Dayton metropolitan statistical area that received a foreclosure filing in June totaled 791, according to RealtyTrac based in Irvine, Calif. In the same month last year, 793 properties in Greene, Miami, Montgomery and Preble counties were involved in some phase of foreclosure, RealtyTrac said.

There are multiple stages in a foreclosure case and not all owners lose the property.

In Montgomery County, foreclosure filings — a category that includes default notices, auction sale notices and bank repossessions — reached 674, compared with 567 such filings a year ago, an 18.9 percent gain.

RealtyTrac found that 67 properties in Greene County had filings against them last month, versus 138 a year ago, a 51 percent drop.

In Miami County, foreclosure filings of some kind were made against 31 properties last month, compared with 69 a year ago, a 55 percent decrease, RealtyTrac said.

In Warren County, which sits outside the Dayton MSA, properties affected by foreclosure proceedings reached 150, versus 265 in June 2010, a 43 percent drop.

National rates also declined during the month, with 222,740 properties having filings against them, compared with 313,841 filings a year ago, a drop of 29.3 percent. Properties caught in some stage of foreclosure also dipped during the first half of this year compared to the first six months of 2010, according to RealtyTrac.

James Saccacio, chief executive of RealtyTrac, said the declines don’t stem from an improvement in the economy, but instead were caused by processing and procedural delays by lenders. His company anticipates that 1 million foreclosures that should have taken place last year will happen this year.

“It would be nice to report that foreclosure activity is dropping as a result of improvements in the economy or the housing market,” Saccacio said. “Unfortunately, with unemployment rates inching back up, consumer confidence weak and home sales and prices continuing to languish, this doesn’t appear to be the case.”

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