California’s high desert real estate market (hdrein webinar) july 2013 - final (3)
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The document discusses recent distressed market trends based on data from RealtyTrac. It provides an overview of national, California, and local High Desert region (including Lancaster, Palmdale, Victorville, and Barstow) foreclosure rates and inventory. While foreclosure activity is decreasing nationally and in California, the High Desert region continues to have higher than average foreclosure rates. The presentation leverages RealtyTrac data on defaults, auctions and REO properties to analyze investment opportunities in distressed sales moving further upstream in the foreclosure process.
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California’s high desert real estate market (hdrein webinar) july 2013 - final (3)
- 1. LEVERAGING THE LATEST DISTRESSED MARKET TRENDS HIGH DESERT REAL ESTATE INVESTOR NETWORK © 2013 Renwood RealtyTrac LLC WELCOME
- 2. WHAT WE’LL COVER TODAY • A brief bit on RealtyTrac • RealtyTrac midyear foreclosure report (released today)! – National Overview – California Overview – High Desert Overview • RealtyTrac Tour © 2013 Renwood RealtyTrac LLC
- 3. IS THE FORECLOSURE CRISIS OVER? © 2013 Renwood RealtyTrac LLC
- 4. REALTYTRAC DATA PRIMER Economic Neighborhood & Local MLS Sales & Loan Valuation & Prop Details Foreclosure © 2013 Renwood RealtyTrac LLC
- 5. REALTYTRAC DATA PRIMER County-Level Public Documents • Pre-foreclosure, foreclosure auction and REO • Sales & Loan • Valuation and property characteristics MLS • Listing status, price and other info • Property description and more characteristics Publicly available datasets • Neighborhood features, amenities, red flags • Macro housing and economic metrics © 2013 Renwood RealtyTrac LLC
- 6. A NATIONAL OVERVIEW © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 7. THE BIG PICTURE – FORECLOSURE BY TYPE (2005 -2013) © 2013 Renwood RealtyTrac LLC
- 8. THE BIG PICTURE – FORECLOSURES & UNEMPLOYMENT (2005 -2013) © 2013 Renwood RealtyTrac LLC 0 2 4 6 8 10 12 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 U.S. Foreclosure Activity & Unemployment Rate - (2005 -2013) U.S. Foreclosure Filings U.S. Unemployment Rate
- 9. FORECLOSURES & INTEREST RATE SHOCK! - (2005 -2013) © 2013 Renwood RealtyTrac LLC 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 Total Foreclosure Filings (RealtyTrac) 30-Year Fixed Rate (Freddie Mac) U S Foreclosures and Freddie Mac Interest Rate Data - (2005-2013)
- 10. THE BIG PICTURE – FORECLOSURE STARTS & COMPLETIONS © 2013 Renwood RealtyTrac LLC Nearly 10.5 million starts and 5.2 million completions (REO) since January 2006 - 50,000 100,000 150,000 200,000 250,000 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Foreclosure Starts (Default or Auction) Foreclosure Completions (REO)
- 11. NEW STATE LAWS INCREASE FORECLOSURE TIMELINES © 2013 Renwood RealtyTrac LLC
- 12. AVERAGE DAYS TO FORECLOSE © 2013 Renwood RealtyTrac LLC
- 13. WHERE FORECLOSURE STARTS ARE REBOUNDING - UPDATE © 2013 Renwood RealtyTrac LLC
- 14. POTENTIAL REOS DRAINED BY SINGLE FAMILY BUYING SPREE © 2013 Renwood RealtyTrac LLC
- 15. POTENTIAL REOS DRAINED BY SINGLE FAMILY BUYING SPREE © 2013 Renwood RealtyTrac LLC
- 16. RENTAL ROI STILL GOOD IN MANY MARKETS © 2013 Renwood RealtyTrac LLC
- 17. MARKETS WITH BEST RATES OF RETURN ON SF RENTALS © 2013 Renwood RealtyTrac LLC
- 18. DISTRESSED SALES MOVING FURTHER UPSTREAM © 2013 Renwood RealtyTrac LLC
- 19. Default Jun-13 597,030 45% Auction Jun-13 227,262 17% REO Jun-13 511,802 38% U.S. FORECLOSURE INVENTORY – REO OPPORTUNITIES - JUNE 2013 © 2013 Renwood RealtyTrac LLC 85% of REOs are NOT Listed for Sale 80% of Defaults and Auctions not yet listed for sale
- 20. UNDERWATER BORROWERS – 26% OF ALL LOANS © 2013 Renwood RealtyTrac LLC
- 21. UNDERWATER LOANS BY STATE © 2013 Renwood RealtyTrac LLC
- 22. UNDERWATER UNIVERSE SHRINKING © 2013 Renwood RealtyTrac LLC 1.5 million fewer underwater in last year
- 23. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
- 24. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
- 25. A CALIFORNIA OVERVIEW © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 26. CALIFORNIA FORECLOSURE TREND GRAPH – (2005 – 2013) © 2013 Renwood RealtyTrac LLC
- 27. CALIFORNIA FORECLOSURE TREND GRAPH – (MAY 2012 – MAY 2013) © 2013 Renwood RealtyTrac LLC
- 28. INSTITUTIONAL INVESTORS RETREAT FROM CALIFORNIA © 2013 Renwood RealtyTrac LLC
- 29. WHERE THE APPETITE IS THE BIGGEST © 2013 Renwood RealtyTrac LLC
- 30. HIGH DESERT OVERVIEW - LANCASTER © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 31. LANCASTER – FORECLOSURE TRENDS – MARKET SUMMARY © 2013 Renwood RealtyTrac LLC
- 32. LANCASTER – FORECLOSURE RATE © 2013 Renwood RealtyTrac LLC
- 33. LANCASTER – FORECLOSURE STATUS DISTRIBUTION © 2013 Renwood RealtyTrac LLC
- 34. LANCASTER – FORECLOSURE FILINGS © 2013 Renwood RealtyTrac LLC
- 35. LANCASTER – FORECLOSURE ACTIVITY – (AUG. 2012 – JUNE 2013) © 2013 Renwood RealtyTrac LLC
- 36. LANCASTER – GEOGRAPHICAL COMPARISON © 2013 Renwood RealtyTrac LLC
- 37. HIGH DESERT OVERVIEW - PALMDALE © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 38. PALMDALE – FORECLOSURE TRENDS © 2013 Renwood RealtyTrac LLC
- 39. PALMDALE – FORECLOSURE RATE © 2013 Renwood RealtyTrac LLC
- 40. PALMDALE – FORECLOSURE STATUS DISTRIBUTION © 2013 Renwood RealtyTrac LLC
- 41. PALMDALE – FORECLOSURE FILINGS © 2013 Renwood RealtyTrac LLC
- 42. PALMDALE – FORECLOSURE ACTIVITY – (AUG. 2012 – JUNE 2013) © 2013 Renwood RealtyTrac LLC
- 43. PALMDALE – GEOGRAPHICAL COMPARISON © 2013 Renwood RealtyTrac LLC
- 44. HIGH DESERT OVERVIEW - VICTORVILLE © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 45. VICTORVILLE – FORECLOSURE TRENDS © 2013 Renwood RealtyTrac LLC
- 46. VICTORVILLE – FORECLOSURE RATE © 2013 Renwood RealtyTrac LLC
- 47. VICTORVILLE – FORECLOSURE STATUS DISTRIBUTION © 2013 Renwood RealtyTrac LLC
- 48. VICTORVILLE – FORECLOSURE FILINGS © 2013 Renwood RealtyTrac LLC
- 49. VICTORVILLE – FORECLOSURE ACTIVITY – (AUG. 2012 – JUNE 2013) © 2013 Renwood RealtyTrac LLC
- 50. VICTORVILLE – GEOGRAPHICAL COMPARISON © 2013 Renwood RealtyTrac LLC
- 51. HIGH DESERT OVERVIEW - BARSTOW © 2013 Renwood RealtyTrac LLC Leveraging RealtyTrac Data
- 52. BARSTOW – FORECLOSURE TRENDS © 2013 Renwood RealtyTrac LLC
- 53. BARSTOW – FORECLOSURE RATE © 2013 Renwood RealtyTrac LLC
- 54. BARSTOW – FORECLOSURE STATUS DISTRIBUTION © 2013 Renwood RealtyTrac LLC
- 55. BARSTOW – FORECLOSURE FILINGS © 2013 Renwood RealtyTrac LLC
- 56. INSTITUTIONAL INVESTORS RETREAT FROM THE HIGH DESERT © 2013 Renwood RealtyTrac LLC
- 57. HIGH DESERT MEDIAN HOME PRICES – (2000 – 2013) © 2013 Renwood RealtyTrac LLC
- 58. H.D.R.I.N. - SPECIAL REALTYTRAC DISCOUNTS © 2013 Renwood RealtyTrac LLC
- 59. OCTAVIO NUIRY REALTYTRAC OCTAVIO.NUIRY@REALTYTRAC.COM © 2013 Renwood RealtyTrac LLC THANK YOU!
Editor's Notes
- RealtyTrac started 1996 – 17 years ago.More than 1.5 million active default, foreclosure auction and bank-owned properties.More than 1 million active for-sale listings on our website.Track over 100 million properties nationwide.20 categories of key housing-related facts provided by RealtyTrac’s wholly-owned subsidiary, Homefacts®.
- RealtyTrac started 1996 – 17 years ago.More than 1.5 million active default, foreclosure auction and bank-owned properties.More than 1 million active for-sale listings on our website.Track over 100 million properties nationwide.20 categories of key housing-related facts provided by RealtyTrac’s wholly-owned subsidiary, Homefacts®.
- U.S. & State Foreclosure Starts Apr05-May13
- U.S. & State Foreclosure Starts Apr05-May13
- 3.41 % in January4.29 % in June - highest level since July 2011.
- Foreclosure Starts – Defaults & auctionCompletions - REOs
- Average time to foreclose was 1,033 days in both New York and New Jersey. National average of 526 days.California average is 383 days.
- 597,030 – Default – 45%511,802 – REO – 38%227,262 – Auctions – 17%
- 26% of home mortgage are underwater.
- 52% of Nevada mortgages are underwater41% in Florida36% in Michigan
- 12 Million in 201211 Million in 2013
- NODs and Auctions are trending upward.
- NODs and Auctions are trending upward.Drop in January attributed to CAHomeowner Bill of Right, which went into affect Jan. 1. Artificial low caused by new law.Similar trend in NV. Now NODs are at a 20-month high. AB 284Similar pattern will play out in California. Also, we saw this in New York, New Jersey and Florida (HB 87).
- Institutional buyers increasing activity in Florida and Georgia, especially Atlanta.We define an institutional buyer as someone who buys 10 or more properties in 12-month period.
- 102 – Active185 – Back-up – Pending287 Total homes for sale
- Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
- 90 – Active185 – Back-up – Pending287 Total homes for sale
- 102 – Active243 – Back-up – Pending345 Total homes for sale
- Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
- Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
- 161 – Active293 – Back-up – Pending454 Total homes for sale
- Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
- Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
- 38 – Active21 – Back-up – Pending454 Total homes for sale
- Palmdale has more pre-foreclosures than Lancaster (54.2 % vs. 48.9 %)
- Drop in January attributed to Homeowners Bill of Right, which went into affect then.Gradually rising each month since January.
- High Desert home prices inching up.Trending upward.
- High Desert home prices inching up.Trending upward.