|By Marketwired .||
|August 14, 2014 12:01 AM EDT||
IRVINE, CA -- (Marketwired) -- 08/14/14 -- RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, today released its U.S. Foreclosure Market Report for July 2014, which shows foreclosure filings -- default notices, scheduled auctions and bank repossessions -- were reported on 109,434 U.S. properties in July, an increase of 2 percent from the previous month but still down 16 percent from a year ago. The report also shows one in every 1,203 U.S. housing units with a foreclosure filing during the month.
"July was the 46th consecutive month where U.S. foreclosure activity was down on a year-over-year basis," said Daren Blomquist, vice president at RealtyTrac. "After nearly four years of falling foreclosures, we are starting to see evidence that foreclosure numbers are normalizing at the national level. The 16 percent decrease in July was exactly half the annual decrease we saw a year ago in July 2013, when U.S. foreclosure activity was down 32 percent on a year-over-year basis.
"The number of state and local markets with persistent foreclosure problems is becoming fewer and farther between, although there were some surprise spikes in foreclosure activity in July in markets that had previously been experiencing long-term downward trends in foreclosure activity," Blomquist noted. "For example, Houston foreclosure activity jumped 66 percent in July compared to a year ago following 23 consecutive months of decreases, and Los Angeles foreclosure activity was up 10 percent from a year ago following 31 consecutive months of decreases."
Other high-level findings from the report:
- A total of 49,624 U.S. properties started the foreclosure process for the first time in July, a 5 percent increase from the previous month, but still down 18 percent from a year ago -- the 24th consecutive month with a year-over-year decrease in U.S. foreclosure starts.
- Despite the annual decrease nationally, foreclosure starts increased from a year ago in 14 states, including Nevada (up 128 percent), Texas (up 29 percent), New York (up 17 percent), Massachusetts (up 12 percent), and Michigan (up 6 percent).
- A total of 51,595 U.S. properties were scheduled for foreclosure auction in July, up 10 percent from the previous month but still down 3 percent from a year ago. Non-judicial foreclosure auctions -- those in states not requiring a judge to file a judgment for the foreclosure auction to proceed -- increased 26 percent from June to July, but were still down 7 percent on a year-over-year basis.
- Despite the annual decrease nationally, scheduled foreclosure auctions increased from a year ago in 20 states, including New Jersey (up 105 percent), Oregon (up 50 percent), Louisiana (up 32 percent), Utah (up 30 percent), Connecticut (up 18 percent), and New York (up 16 percent).
- A total of 25,937 U.S. properties were repossessed by lenders via foreclosure (REO) in July, down 4 percent from the previous month and down 30 percent from a year ago to the lowest level since April 2007.
- Despite the decrease nationally, bank repossessions increased from a year ago in seven states, including Maryland (up 77 percent), California (up 22 percent), Oregon (up 13 percent), and New Jersey (up 12 percent).
Rising foreclosure activity bucks national trend in five of 20 largest metro areas
Foreclosure activity increased from a year ago in five of the nation's 20 most populous metropolitan statistical areas, contrary to the national trend.
The Houston metro area posted the biggest annual increase in foreclosure activity from a year ago among the 20 largest metro areas, up 66 percent. The increase in Houston came on the heels of 23 consecutive months of decreasing foreclosure activity on an annual basis and was driven primarily by a 116 percent jump in scheduled foreclosure auctions -- the first public notice starting the foreclosure process in Texas.
Washington, D.C., documented the second highest annual increase in foreclosure activity in July, up 24 percent from a year ago. July marked 14 of the last 17 months where DC metro area foreclosure activity has increased on an annual basis.
Due to rebounding bank repossessions (REOs), Southern California metro areas posted annual increases in foreclosure activity following 31 consecutive months of decreasing activity on a year-over-year basis. San Diego overall foreclosure activity increased 12 percent from a year ago after seeing a 40 percent jump in REOs; Los Angeles overall foreclosure activity increased 10 percent from a year ago thanks to a 58 percent jump in REOs; and Riverside-San Bernardino foreclosure activity increased 3 percent from a year ago because of a 27 percent jump in REOs.
Among all 212 metropolitan statistical areas with a population of 200,000 or more, one-third (69) posted increasing foreclosure activity from a year ago while two-thirds (143) posted decreasing foreclosure activity from a year ago.
"Just a few years ago foreclosures and short sales were a necessary part of the real estate market. Today this is no longer the case," said Greg Smith, owner/broker of RE/MAX Alliance, covering the Denver, Colo. market, where foreclosure activity decreased 15 percent from a year ago and the foreclosure rate ranked 139th out of the 212 metro areas ranked in the report. "Because of strong property appreciation and more conservative lending requirements, we are seeing very few properties go through the foreclosure process and many homeowners are no longer upside down removing the need for a short sale."
"The housing market is coming back slowly," said Sheldon Detrick, CEO of Prudential Detrick/Alliance Realty, covering the Oklahoma City and Tulsa, Okla. markets, which had foreclosure rates ranking No. 76 and 66 respectively in July despite an increase in activity from the previous month. "We do not have distressed properties in the market like we used to and our REO inventory continues to go down."
Florida, Maryland, Nevada, Illinois, Ohio post top state foreclosure rates
Florida foreclosure activity decreased 30 percent on a year-over-year basis in July -- the 12th consecutive month with an annual decrease -- but the state still posted the nation's highest state foreclosure rate for the 10th consecutive month. One in every 469 Florida housing units had a foreclosure filing in July, more than two and a half times the national average.
Maryland foreclosure activity in July increased 5 percent from the previous month and was up 9 percent from a year ago -- continuing a two-year trend in rising foreclosure activity in the state. One in every 553 Maryland housing units had a foreclosure filing during the month, the nation's second highest state foreclosure rate for the sixth consecutive month.
Following nine consecutive months of annual decreases, Nevada foreclosure activity in July increased 15 percent from a year ago and was up 36 percent on a month-over-month basis, boosting the state's foreclosure rate to third highest nationally after ranking sixth highest in June. One in every 639 Nevada housing units had a foreclosure filing during the month.
Illinois foreclosure activity decreased 9 percent from a year ago in July, the 20th consecutive month where the state's foreclosure activity has decreased on an annual basis, but Illinois still posted the nation's fourth highest foreclosure rate: one in every 747 housing units with a foreclosure filing.
Ohio foreclosure activity decreased 24 percent from a year ago in July, the 11th consecutive month where the state's foreclosure activity has decreased on an annual basis, but Ohio still posted the nation's fifth highest foreclosure rate: one in every 839 housing units with a foreclosure filing.
"The Ohio markets have noticed an overall reduction in sales volume since the first of the year as well as reduction in foreclosure sales volume throughout the state," said Michael Mahon, executive Vice President/ broker at HER Realtors, covering the Cincinnati, Columbus and Dayton, Ohio markets. "As prices continue to rise, our anticipation is that foreclosures will continue to decline as home owners experience restored, higher equity levels."
Other states with foreclosure rates among the nation's 10 highest in July were South Carolina at No. 6 (one in every 893 housing units with a foreclosure filing); Indiana at No. 7 (one in every 911 housing units); Delaware at No. 8 (one in every 948 housing units); Utah at No. 9 (one in every 1,010 housing units); and California at No. 10 (one in every 1,032 housing units).
Florida metros account for eight of 10 highest metro foreclosure rates
Florida accounted for the eight highest foreclosure rates among metropolitan statistical areas with a population of 200,000 or more in July, led by Ocala at No. 1, with one in every 296 housing units with a foreclosure filing -- more than four times the national average.
The other Florida cities in the top 10 were Orlando-Kissimmee at No. 2 (one in every 357 housing units with a foreclosure filing); Palm Bay-Melbourne-Titusville at No. 3 (one every 404 housing units); Lakeland at No. 4 (one in every 407 housing units); Miami-Fort Lauderdale-Pompano Beach at No. 5 (one in every 421 housing units); Port St. Lucie at No. 6 (one in every 434 housing units); Tampa-St. Petersburg-Clearwater at No. 7 (one in every 448 housing units); and Cape Coral-Fort Myers at No. 8 (one in every 478 housing units).
The two cities outside of Florida with top 10 foreclosure rates were Columbia, S.C., at No. 9 (one in every 484 housing units with a foreclosure filing); and Akron, Ohio, at No. 10 (one in every 525 housing units).
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month -- broken out by type of filing. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee's Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). The report does not count a property again if it receives the same type of foreclosure filing multiple times within the estimated foreclosure timeframe for the state where the property is located.
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.
Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact RealtyTrac to license bulk foreclosure and neighborhood data or purchase customized reports. For more information please contact our Data Licensing Department at 800.462.5193 or [email protected].
RealtyTrac is a leading supplier of U.S. real estate data, with nationwide parcel-level records for more than 125 million U.S. parcels that include property characteristics, tax assessor data, sales and mortgage deed records, Automated Valuation Models (AVMs) and 20 million active and historical default, foreclosure auction and bank-owned properties. RealtyTrac's housing data and foreclosure reports are relied on by the Federal Reserve, U.S. Treasury Department, HUD, numerous state housing and banking departments, investment funds as well as millions of real estate professionals and consumers, to help evaluate housing trends and make informed decisions about real estate.
Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2657648
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
Apr. 25, 2017 01:45 PM EDT Reads: 277
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 25, 2017 01:45 PM EDT Reads: 344
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Apr. 25, 2017 01:30 PM EDT Reads: 2,241
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
Apr. 25, 2017 01:14 PM EDT Reads: 156
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 25, 2017 12:30 PM EDT Reads: 1,153
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 25, 2017 12:15 PM EDT Reads: 925
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Apr. 25, 2017 12:15 PM EDT Reads: 2,507
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Apr. 25, 2017 12:00 PM EDT Reads: 2,700
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 25, 2017 12:00 PM EDT Reads: 873
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyor belt between the Software Factory and production stages. Artifacts are ...
Apr. 25, 2017 11:30 AM EDT Reads: 1,050
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 25, 2017 11:30 AM EDT Reads: 4,812
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Apr. 25, 2017 11:30 AM EDT Reads: 293
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Apr. 25, 2017 11:30 AM EDT Reads: 1,795
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 25, 2017 11:30 AM EDT Reads: 290
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
Apr. 25, 2017 11:15 AM EDT Reads: 1,625