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Foreclosure Filings Down 19 Percent In One Year
Foreclosure filings fell 19 percent last month versus one year ago, says foreclosure-tracking firm RealtyTrac. It’s yet one more signal that the U.S. housing market may have already climbed off its bottom.
According to RealtyTrac, a ”foreclosure filing” is any one of the following foreclosure-related events : (1) A default notice on a home; (2) A scheduled auction for a home; or, (3) A bank repossession of a home.
In looking at the January 2012 figures :
- Default Notices were down 22% from January 2011
- Scheduled Auctions were down 19% from January 2011
- Bank Repossessions were down 15% from January 2011
On a monthly basis, however, the numbers weren’t so promising.
Default notices and scheduled auctions were mostly unchanged, but bank repossessions rose 8 percent. The rise in bank repossessions is likely because 2010′s robo-signing controversy has been rectified at the state and lender level.
This trend toward more bank-owned homes is expected to continue through 2012.
As in most months, January’s foreclosure activity was geographically concentrated. Nevada led the nation in Foreclosures Per Capita, followed closely by California. 13 states fared worse than the national average of 1 foreclosure per 624 households. 37 fared better.
The difference in foreclosure frequency among the two groupings was stark :
- Top 13 Foreclosure States : 1 foreclosure per 435 households, on average
- Bottom 37 Foreclosure States : 1 foreclosure per 5,101 households, on average
North Dakota had January’s lowest foreclosure rate nationwide. Just 1 in 63,500 homes was in some form of foreclosure in North Dakota last month.
As a first-time or seasoned buyer in Austin , foreclosed homes can be enticing. They’re plentiful and cheap. However, just because a foreclosed home can be bought for a “steal”, that doesn’t mean it’s worth buying. The process of buying a foreclosed homes is different from the process of buying a non-foreclosed home.
The contract-and-negotiation process may be different with a foreclosed property, and foreclosed homes are often sold “as-is”. This means the home you buy at auction could be run-down and defective to the point where it’s uninhabitable.
If you plan to buy a foreclosed home, therefore, have a real estate professional on your side. The internet can teach you much about how the Texas housing market works, but when it comes to writing contracts, you’ll want an experienced agent on your side.
Make Your Own Organic Fruit Wash
How clean are the fruits and vegetables you eat? Unless you pick your food straight from the farm, your food is likely more dirty than you think.
In addition to pesticide treatment made while food is still “on the vine”, fruits and vegetables you buy at a grocery are often coated in wax to preserve their “shelf life”; and you can never know how much dirt your food has rolled in.
Even organic foods are handled multiple times on the way to the grocery store. They may be pesticide-free, but they’re not dirt-free or free from human handling.
This is why we wash fruits and vegetables before consumption — to wash off dirt. But, there are extra precautions you can take to make sure your food is truly “clean”.
One such method is to use a make-it-yourself, organic fruit wash. The recipe is basic and simple. All you need is a large, lidded pitcher for mixing, some everyday foods, and a spray bottle.
- In the large pitcher, pour 1 cup of water, 1 cup of white vinegar, and 1 tablespoon of baking soda.
- Add 25 drops of grapefruit seed extract. If you can’t find this at your local grocery, check with a natural food store or specialty store.
- Mix ingredients in the pitcher, and pour into a spray bottle
That’s it.
Then, when you’re ready to clean fruits and vegetables, use your homemade spray wash and coat the food liberally. Let the food stand for 5 minutes, then rinse the spray wash from the food in the sink.
Expect dirt to roll off fruit and vegetables surfaces and for the spray’s vinegar component to neutralize pesticides. You’ll be left with cleaner, healthier natural foods.
To make the fruit wash should take less than 5 minutes. Each batch should last one month, depending on the amount of fruits and vegetables you consume.
Make Your Own Organic Fruit Wash
How clean are the fruits and vegetables you eat? Unless you pick your food straight from the farm, your food is likely more dirty than you think.
In addition to pesticide treatment made while food is still “on the vine”, fruits and vegetables you buy at a grocery are often coated in wax to preserve their “shelf life”; and you can never know how much dirt your food has rolled in.
Even organic foods are handled multiple times on the way to the grocery store. They may be pesticide-free, but they’re not dirt-free or free from human handling.
This is why we wash fruits and vegetables before consumption — to wash off dirt. But, there are extra precautions you can take to make sure your food is truly “clean”.
One such method is to use a make-it-yourself, organic fruit wash. The recipe is basic and simple. All you need is a large, lidded pitcher for mixing, some everyday foods, and a spray bottle.
- In the large pitcher, pour 1 cup of water, 1 cup of white vinegar, and 1 tablespoon of baking soda.
- Add 25 drops of grapefruit seed extract. If you can’t find this at your local grocery, check with a natural food store or specialty store.
- Mix ingredients in the pitcher, and pour into a spray bottle
That’s it.
Then, when you’re ready to clean fruits and vegetables, use your homemade spray wash and coat the food liberally. Let the food stand for 5 minutes, then rinse the spray wash from the food in the sink.
Expect dirt to roll off fruit and vegetables surfaces and for the spray’s vinegar component to neutralize pesticides. You’ll be left with cleaner, healthier natural foods.
To make the fruit wash should take less than 5 minutes. Each batch should last one month, depending on the amount of fruits and vegetables you consume.
Housing Starts Stay Strong; Building Permits Rise.
The housing market has carried forward its year-end momentum.
According to the Census Bureau, on a seasonally-adjusted, annualized basis, January’s Single-Family Housing Starts crossed the half-million unit marker for the second straight month.
This hasn’t happened in close to 2 years and is the latest in a series of strong data that suggests the beleaguered housing market has turned a corner — both nationally and locally in Austin.
Although single-family starts slipped 1 percent from December, January’s annualized 508,000 figure represents a 16% spike from January 2011 and is the second-highest reading since April 2010 — the last month of 2010′s federal home buyer tax credit program.
A “housing start” is a new home on which construction has started.
The strength of January’s Housing Starts data surprised Wall Street analysts and is partially responsible for Thursday’s unexpected mortgage rate spike.
In hindsight, though, we should have seen this coming.
Earlier in the week, the National Association of Homebuilders announced that homebuilder confidence had climbed to its highest point since 2007 amid builder reports of rising sales volume and the most foot traffic from buyers in more than 4 years.
In addition, builders expect to sell more homes in 2012 than in 2011.
Builders are building and buyers are buying.
Meanwhile, as another sign of housing market strength, the Census Bureau reports that, in January, Building Permits moved to a multi-year high as well. Permits issued for single-family homes in January rose 1 percent from December, a statistic that suggests housing will continue its run through the spring season, at least.
86 percent of homes break ground within one month of permit issuance.
It’s a good time to be a home buyer. Mortgage rates and home prices are low. Housing market momentum, however, is building. If you’re on the fence about whether to buy a home , ask your real estate agent for additional market information.
The cost of home-ownership may never be as low as it is today.
Homebuilder Confidence Returns To Pre-Recession Levels
New construction buyers in Austin , look out. The nation’s home builders are predicting a strong 2012 for new home sales. It may mean higher home prices as the spring buying season approaches.
For the sixth straight month, the National Association of Homebuilders reports that homebuilder confidence is on the rise. The Housing Market Index climbed four points to 29 in February, the index’s highest reading since May 2007.
The Housing Market Index is now up 8 points in 8 weeks. The last time that happened was June 2003, a month during which the U.S. economy was regaining its footing, much like this month. It’s noteworthy that June 2003 marked the start of a 4-year bull run in the stock market that took equities up 54%.
The NAHB’s Housing Market Index itself is actually a composite reading. It’s the end-result of three separate surveys sent to home builders monthly.
The association’s questions are basic :
- How are market conditions for the sale of new homes today?
- How are market conditions for the sale of new homes in 6 months?
- How is prospective buyer foot traffic?
In February, builders reported marked improvement across all three areas. Builders report that current home sales climbed 5 points; that sales expectations for the next 6 months climbed 5 points; and that buyer foot traffic climbed 1 point.
Most notable of all of the statistics, though, is that the nation’s home builders report that there are now twice as many buyers setting foot inside model units as compared to just 6 months ago.
This data is supported by the monthly New Home Sales report which shows rising sales and a shrinking new home inventory.
Because of this, today’s new home buyers throughout Texas should expect fewer concessions from builders at the time of contract including fewer price breaks on a home and fewer free upgrades. Builders are optimistic for the future and, therefore, may be less willing to “make a deal”.
This spring may mark the best time of year to buy a new home. 60 days forward, it may be too late.
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