September 2008 NOD filings down 61.8% over August 2008#'s & CA State Senate Bill 1137

My friend Susan Piazza (and co-worker here at First Team Estates) forwarded this fantastic article to me. It gives both sides of the coin about what to make of the plung in foreclosure activity that is occuring. It utilizes some great charts & graphs for all of the "numbers" people out there.

Here is a brief synopsis of what you will find in this article...

• Why the significant drop in NOD & NOT filings?
• Is CA State Senate Bill 1137 going to slow down or speed up the housing market recovery?
• Foreclosure sales fell 12.4 percent
• What is the intent of CA State Senate Bill 1137
• Can this push towards loan modification actually increase the foreclosure activity?
• What are the average discounts offered by lenders compared to the outstanding loan balances?
• What has changed at the county level?
• California Foreclosure Activity Graph
• September Foreclosure Report by County
• California Foreclosure Report Methodology

Click here to read the article in it's entirety...

After reading the article, what are your thoughts?

Where do you think the real estate market is headed?

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For more information about real estate market activity in your neighborhood, contact Sandra Carlisle at (949) 278-4807.

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