Foreclosure Attorney in West Palm Beach keeping homeowners in homes while Bank Repos on the rise for top Real Estate states like New York, Illinois, and California.
Typically when other states are finding a down turn, investors look to see who has the investable ground. The predictions are pouring in but with recent developments breaking ground in the West Palm Beach Real Estate market, you could say those prediction were coming to fruition.
It’s not uncommon to see the swings in Real Estate though we may never see the SUPER highs like those in 2004/2005. What we are seeing is tough repercussions of those days even still a decade later. The foreclosure rise is mainly attributed to 7 percent month-over-month rise in foreclosure starts and a 6 percent rise in scheduled foreclosure auctions. West Palm Beach has seen it’s own wave of court room foreclosure cases being attended to in much swifter approaches in efforts to reduce the docits of our courtrooms.
State by state you see the effects of our Real Estate past & present:
These are the largest year-over-year increases in bank repossessions:
- New York: +142% year-over-year
- Oregon: +91%
- New Jersey: +58%
- Illinois: +55%
- Indiana: +52%
- Maryland: +45%
- Connecticut: +44%
- California: +27%
- Nevada: +15%
The good news is that court filings for foreclosures were actually down by 1 percent over the last month. Perhaps higher in our West Palm Beach area. Foreclosure Attorney’s have formidable resources for keeping homeowners out of court rooms and in their homes. We’re certain that the decrease in filings is also representedive of soudn representation for hoemowners who were unable to gain any succesful help form their banks and needed alternatives to loosing their homes. Banks do not want to be in the real estate business and they are finding the way out is a long one. Having an advocate negotiate with banks on your behalf is a priceless necessity in today’s market.
“Banks will now be able to devote more resources to dealing with the lingering inventory of nearly half a million already foreclosed homes that still need to be sold,” says Daren Blomquist, RealtyTrac’s vice president. “Our estimates indicate only 10 percent of these bank-owned properties are listed for sale, and more than half are still occupied by the former home owner or tenant.”
One thing is certain for West Palm Beach Real Estate, it’s GOOD to NOT see it on this kind of report! Certainly though their is still a need in the West Palm Beach Real Estate Market to see foreclosures handled correctly and shorts sales being negotiated as opposed to foreclosures. Only a Short Sale & Foreclosure attorney can keep you in your home and help you protect your investment. Let’s keep West Palm Beach Real Estate off of these lists and keep moving in a positive direction for our housing market.