U.S. Foreclosure Activity at Lowest Level Since July 2006

U.S. Foreclosure Activity at Lowest Level Since July 2006
RISMEDIA, Friday, March 20, 2015— RealtyTrac® recently released its U.S. Foreclosure Market Report™ for February 2015, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 101,938 U.S. properties in February, a decrease of 4 percent from revised January numbers and down 9 percent from a year ago to the lowest level since July 2006. The report also shows a U.S. foreclosure rate of one in every 1,295 housing units with a foreclosure filing in February.

“Given that August 2006 was the peak of the housing bubble, this eight-and-a-half year low in foreclosure activity is a significant milestone and a sign that nationwide foreclosure activity is on track to return to historic norms this year—and is possibly even headed below historic norms given the skinny-jeans-tight lending standards over the past five years,” says Daren Blomquist, vice president at RealtyTrac. “In markets where foreclosures were processed more efficiently we are seeing foreclosure numbers now below pre-crisis levels in some cases. Conversely, the cleanup of deferred distress is continuing in markets where a logjam of in-limbo foreclosures is still lingering from the housing crisis—as evidenced by rebounding foreclosure activity in those markets.”

Despite the national decrease from a year ago, 24 states posted a year-over-year increase in overall foreclosure activity, including Massachusetts (up 53 percent; fifth consecutive month with an increase) and New York (up 19 percent; sixth consecutive month with an increase).

22 states post annual increase in foreclosure starts
Nationwide, 48,079 properties started the foreclosure process for the first time in February, down 5 percent from revised January numbers and down 7 percent from a year ago.

Despite the national decrease in foreclosure starts, 23 states posted year-over-year increases in foreclosure starts, including Nevada (up 153 percent; fourth consecutive month with an increase), Massachusetts (up 116 percent; 11th consecutive month with an increase), and Texas (up 5 percent; five out of last six months with increase).

25 states post annual increase in scheduled foreclosure auctions
Nationwide, 45,880 properties were scheduled for a future foreclosure auction in February, down 13 percent from revised January numbers and down 4 percent from a year ago to the lowest level since July 2006.

Despite the national decrease in scheduled foreclosure auctions—which can act as the foreclosure start in some states—25 states posted a year-over-year increase in scheduled foreclosure auctions, including New York (up 146 percent; ninth consecutive month with an increase), Massachusetts (up 88 percent; third consecutive month with an increase), New Jersey (up 38 percent; 15th consecutive month with an increase), and Washington (up 17 percent; five out of last seven months with an increase).

15 states post annual increase in REOs
Nationwide, 24,305 properties were repossessed by lenders via foreclosure (REO) in February, up 9 percent from revised January numbers but down 20 percent from a year ago. February was the 27thconsecutive month where REOs nationwide decreased on an annual basis.

Despite the national decrease in REOs compared to a year ago, 15 states posted year-over-year increases in REOs, including Maryland (up 70 percent; fifth consecutive month with an increase), New York (up 24 percent; four out of last five months with an increase), Ohio (up 23 percent; third consecutive month with an increase), and North Carolina (up 18 percent; three out of last four months with an increase).

Maryland, Nevada, Florida post highest state foreclosure rates
Maryland foreclosure activity decreased 1 percent compared to a year ago in February, but the state still posted the nation’s highest foreclosure rate: one in every 564 housing units with a foreclosure filing.

Nevada foreclosure activity in February increased 12 percent from a year ago driven primarily by a spike in foreclosure starts, and the state’s foreclosure rate was second highest in the nation for the second month in a row. One in every 569 Nevada housing units had a foreclosure filing during the month.

Florida posted the nation’s third highest state foreclosure rate—one in every 570 housing units with a foreclosure filing—despite a 35 percent decrease in foreclosure activity from a year ago.

Other states with foreclosure rates among the top 10 highest nationwide in February were Indiana (one in every 871 housing units with a foreclosure filing), Idaho (one in every 877 housing units), New Jersey (one in every 895 housing units), Illinois (one in every 906 housing units), Delaware (one in every 957 housing units), Ohio (one in every 1,000 housing units), and North Carolina (one in every 1,088 housing units).

For more information, visit www.realtytrac.com.

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3 Spring Tips to Boost Curb Appeal

3 Spring Tips to Boost Curb Appeal
By Rhonda Duffy
RISMEDIA, Friday, March 20, 2015— Curb appeal can be the most important aspect when trying to attract buyers. As temperatures rise and spring begins to waltz in, take advantage of the warmth and set yourself and your family to work in the yard to improve your home’s curb appeal. Some ideas:

1. Create an immaculate space – During the winter, things can get out of hand in your yard. Plants and trees can look overgrown or decrepit, so cut them back and prune them to perfection. This will allow your plants and trees to grow beautifully during the warm spring season. Rake up or blow away dead leaves throughout your lawn and flowerbeds, since they can create a cluttered look. Be diligent about general upkeep in your yard. Mow the lawn and put down some fresh pine straw or mulch to clearly mark spaces in your yard, creating a clean and manicured look.

2. Introduce some color – Visit your local nursery to purchase some colorful, healthy-looking flowers, trees, or shrubs. This is where you get to have fun and be creative with the color palette you want to present to your buyers. Some good choices to consider are roses, tulips, daffodils, peonies, hostas, or crepe myrtles. Get several different colors of the same kind of flower to keep it simple, yet vibrant. Overall, you want buyers to drive through your neighborhood and stop in front of your home to ooh and ahh at the beauty of your yard. They will only want to see more of your home.

3. Don’t neglect your backyard – The state of your backyard can be an important selling point of your home. You want to create an illusion of privacy, comfort, and fun all at once. You want your buyers to imagine relaxing in the backyard, or hosting a barbecue for friends. At the same time, you want the backyard to bring your buyers a sense of being at one with nature. Introduce some lush greenery to this space, to really create an atmosphere of health and serenity. Place some lawn or deck furniture in the backyard as well to allow buyers to imagine sitting outside on a warm summer evening with their family and friends. You may even want to designate areas in your backyard for different kinds of gardening. Create a space for a vegetable or herb garden to give it more character and allow buyers to imagine themselves getting creative in the backyard gardening as well.

Overall, you want your yard to help sell your home by creating a healthy and colorful look during the spring and summer seasons.


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Kevin Toll – Top Producer – Team/Satellite Havertown S. Eagle/Devon Offices

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Kevin Toll was honored by Long and Foster Real Estate Inc, Devon for the following areas for the Havertown S. Eagle/Devon Offices:

Top Producer Team/Satellite Settled Units

 

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Top Producer Team/Satellite Selling GCI

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Top Producer Team/Satellite  GCI

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Top Producer Team/Satellite Listing GCI

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Pottstown, Spring City, Honeybrook Real Estate Market Updates, February 2015

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Pottstown Real Estate Updates, February 2015

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City Center, Fairmount & Callowhill Market Updates February 2015

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Kevin Toll named Top Producer 2014

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On March 11, 2015, Kevin Toll was honored at the Long and Foster Real Estate, Inc. awards breakfast.  Kevin Toll and the Kevin Toll Team finished fourth in the Region for Settled Units.

Kevin was also named the Top Producer of the Devon Office for Satellite Office, Listing and Sales.

He was also honored with membership in Long and Foster’s Gold Team, Founder’s Club Level.

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Top Producer of the Devon Office for Satellite Office, Listing and Sales

 

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Founder’s Club

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Havertown February 2015 Market Updates

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Investment Opportunity- 101 Overlook Drive, Media PA

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Looking for an investment opportunity?

Check out 101 Overlook Drive, Media PA 19063

Contact Kevin Toll to schedule a showing or to learn more about this property!

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3 Ways to Green Your Spring Maintenance Routine

By Suzanne De Vita
RISMEDIA, Tuesday, March 17, 2015— Spring has nearly sprung, and the change of season means one thing for homeowners: maintenance. This year,introduce eco-friendliness to your spring maintenance routine. Many of the green fixes below require just one or two more steps in projects likely already on the docket.

1. Aerated Interior
There’s no better sign that spring has arrived than opening your windows to let fresh air sweep through your home. Opening windows removes indoor air pollutants, like radon, secondhand smoke and VOCs (Volatile Organic Compounds), which results in cleaner air both inside and out. If you have HVAC maintenance on the agenda this spring, trim shrubs planted near the A/C unit and hose off debris – any obstructions to your unit may result in higher utility bills come summer and increased energy consumption.

2. Responsible Landscaping
If your lawn is looking worse for wear after winter, repair patches as soon as possible – any erosion can disrupt the surrounding environment. When you begin mowing, do your best to leave grass clippings on your lawn. Even though the blades have been severed from the roots, they still hold nutrients that can be recycled for the remaining grass underneath.

For those who’d rather keep clippings off the lawn, consider composting them into soil. Soil produced from composting retains moisture better than store-bought fertilizer, so you’ll conserve water and save money in the process. When composting, follow the brown/green rule: include a brown element, such as twigs or dead leaves, and a green element, such as the clippings or food scraps.

3. Sustainable Plumbing
Whether you’re planning a small spring spruce-up or cleaning your home top to bottom, swap out any toxic cleaning agents for water-based products. Don’t pour chemical cleaners down the drain – doing so can damage plumbing and harm the environment through contaminated runoff. Most state websites list hazardous waste collection centers. (Keep in mind that some facilities operate on a seasonal schedule.)

Are you planning to have your septic pumped this spring? Take it a step further by inspecting your plumbing for leaks (a leaky toilet can waste 200 gallons of water a day!) and installing inexpensive fixtures that conserve water, like low-flow faucets or shower heads.

For more tips on how to spring green your home, visit EPA.gov.

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