Archive for November, 2013

Home Prices Increase in the 3rd Quarter

Saturday, November 30th, 2013

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Quicker Foreclosures Mean Quicker Recovery

Friday, November 29th, 2013

In states where foreclosures are processed quickly, the housing recovery also moved quickly compared to those states where foreclosures have languished in the courts, according to a new study.

Pro Teck Valuation Services, a national appraisal firm, found that of the largest 30 U.S. metropolitan areas, the bottom performers were all in so-called judicial states – states where every foreclosure must go before a judge before completion. By contrast all of the top ten performing markets were in non-judicial states, with eight of them in California.

“Two years ago much of the bad news was centered on California, a non-judicial state. Foreclosures were driving down prices and there were high REO discounts,” said Tom O’Grady, CEO of Pro Teck Valuation Services in a . “But banks moved swiftly to cut losses, peak foreclosure activity came and went, and many markets are now on the rebound. In fact, eight of our top ten metros for this month are in California.”

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