RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for November 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 224,394 U.S. properties in November, a 3 percent decrease from the previous month and a 14 percent decrease from November 2010. The report also shows one in every 579 U.S. housing units with a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Arizona and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

I have already seen my own inventory grow as a result of the increase in foreclosure actions. What does this mean?

It depends on whether you are a buyer, seller or investor. As a seller, we need to ACT NOW and not wait for the seasonal increase in listings that occurs in the 2nd quarter of each year. AS  buyer, increased inventory means more buying opportunities. As an investor, distressed properties offer opportunities to flip, hold and rent or buy a house for family members.

Call me for a discussion on any of the opportunities that we have in front of us or advice on  your own personal real estate decisions.

You can always reach me at 510 881 1761 or email me at reo@deansouza.com

Bye for now and Merry Christmas!

Warmly,

Dean Souza

Focused on the Success of Your Move

Honesty Between Seller and Agent-The Best Recipe for Success

The relationship between a seller and Realtor is one of the most critical factors affecting the successful sale of home. It’s second only to the marketing effort of the real estate agent.

A Realtor must tell the seller the truth about the local market and the likely sale price of the home. A seller must be willing to accept this information and the recent sales data that supports the opinion of value.

When either is not honest with each other, whether it be the agent telling the potential seller what he/she thinks they want to hear, or, the seller not accepting the market data, then frustration, missed opportunities is the likely result.

Honesty is a two way street and is the natural result of a trusting relationship. Picking an agent you can trust is an important key to realizing the success of your move.

For more information on my approach and philosophy to selling and buying homes, feel free to call me about any of your real estate needs at 510 881 1761 or email me at reo@deansouza.com

Warmly,

Dean Souza

Focused on the Success of Your Move