By Elisa Andreis J.D. of Russ Lyon Sotheby’s International Realty
CoreLogic, a leading residential property information,
analytics and services provider, released its May National Foreclosure Report
with a supplement featuring quarterly shadow inventory data as of April 2013. Foreclosure
inventory shows a 29% decline from a
year ago May 2012.
Similarly in Sedona we see a 20% decline in foreclosures and
short sale year over year. From Jan 2012 to June 2012, 72 foreclosures and
short sales were sold in the Sedona area. From Jan 2013 to June 2013, 58
foreclosures and short sales were sold in the same area.
Here is an example of one of those few left “distressed”
properties for sale in Sedona, this short sale listed for $395,000, 3Bed/2Bath,
2800sqft in Northview area in West Sedona. Click here to see full property details
As of May 2013, approximately 1.0 million homes in the
United States were in some stage of foreclosure, known as the foreclosure
inventory, compared to 1.4 million in May 2012, a year-over-year decrease of 29
percent. Month over month, the foreclosure inventory was down 3.3 percent from
April 2013 to May 2013. The foreclosure inventory as of May 2013 represented
2.6 percent of all homes with a mortgage compared to 3.5 percent in May 2012.
"We continue to see a sharp drop in foreclosures around
the country and with it a decrease in the size of the shadow inventory.
Affordability, despite the rise in home prices over the past year, and consumer
confidence are big contributors to these positive trends," said Anand
Nallathambi, president and CEO of CoreLogic. "We are particularly
encouraged by the broad-based nature of the housing market recovery so far in
2013."
For more
information about Sedona Real Estate and to search for properties, visit www.SedonaFineHome.com or call Elisa Andreis J.D. (928) 274
1521.