LEVERAGING THE LATEST HOUSING MARKET TRENDS
© 2013 Renwood RealtyTrac LLC
WELCOME
WHAT WE’LL COVER TODAY
• A brief bit on RealtyTrac
• How long will the short sale surge last?
• Home prices buoying underw...
REALTYTRAC DATA PRIMER
Economic
Neighborhood
& Local
MLS
Sales &
Loan
Valuation
& Prop
Details
Foreclosure
© 2013 Renwood ...
REALTYTRAC DATA PRIMER
County-Level Public Documents
• Pre-foreclosure, foreclosure auction and REO
• Sales & Loan
• Valua...
HOW LONG WITH THE SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac
HOW LONG WILL SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
August foreclosure
starts at lowest level
since Decembe...
HOW LONG WILL SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
Seriously
underwater means
mortgage amount is
at least ...
HOW LONG WILL THE SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
1.8 million fewer
underwater in last year
UNDERWATER DATA BY COUNTY
• County-level interactive heat map
• http://www.realtytrac.com/Content/news-and-opinion/serious...
HOME EQUITY PROFILES FOR MAJOR METROS
© 2013 Renwood RealtyTrac LLC
• http://public.tableausoftware.com/shared/HTMMWH5ZG?:...
HOW LONG WILL SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
Average Annual Pct Change YTD in
2013 is 7 percent – wi...
HOW LONG WILL SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
At pace of 700,000 short sales a yea
it would still tak...
HOW LONG WILL SHORT SALE SURGE LAST?
© 2013 Renwood RealtyTrac LLC
HOW LONG WILL SHORT SALE SURGE LAST?
• Other considerations that could slow short sales
– Rising home prices give lenders ...
HOME PRICES BUOYING UNDERWATER INVENTORY
© 2013 Renwood RealtyTrac
HOME PRICES BUOYING UNDERWATER INVENTORY
4.5 million homes nationwide
would transition from short sales to
equity sales wi...
© 2013 Renwood RealtyTrac LLC
Annualized residential sales above
5 million for nine consecutive
months ending in June
LEVERAGING DISTRESSED TRENDS BONUS TIP
© 2013 Renwood RealtyTrac LLC
Establishing a relationship with a distressed
homeown...
WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING
© 2013 Renwood RealtyTrac LLC
WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING
YoY Pct Increases:
• Maryland: 365%
• Connecticut: 47%
• New York: 36%
...
WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING
© 2013 Renwood RealtyTrac LLC
YoY Pct Increases:
• Florida: 100%
• Arka...
WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING
• Why are foreclosure starts and auctions rebounding?
– Pent-up foreclo...
THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES
© 2013 Renwood RealtyTrac LLC
THE PROBLEM AND OPPORTUNITY OF ZOMBIE FORECLOSURES
© 2013 Renwood RealtyTrac LLC
THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES
© 2013 Renwood RealtyTrac LLC
THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES
© 2013 Renwood RealtyTrac LLC
THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES
• The problem
– More than 167,000 vacant homes nationwide, 20
percent of ...
WHEN & WHERE REOS ARE REBOUNDING
© 2013 Renwood RealtyTrac LLC
THE INCREDIBLE DISAPPEARING REOS
U.S. REOs have
gradually risen over
past four months
since hitting 72-
month low in April
WHEN AND WHERE REOS ARE REBOUNDING
© 2013 Renwood RealtyTrac LLC
DEEDS IN LIEU INCREASING BUT NOT IN HUGE NUMBERS
© 2013 Renwood RealtyTrac LLC
Nationwide Deeds in
Lieu of Foreclosure
inc...
THE INCREDIBLE DISAPPEARING REOS
• REOs are down but not out
– Recent rise in foreclosure starts and scheduled
foreclosure...
FLIPPING & INSTITUTIONAL INVESTORS
© 2013 Renwood RealtyTrac LLC
FLIPPING & INSTITUTIONAL INVESTORS
U.S. property flips
increased 17 percent
from a year ago in the
second quarter
FLIPPING & INSTITUTIONAL INVESTORS
© 2013 Renwood RealtyTrac LLC
FLIPPING & INSTITUTIONAL INVESTORS
© 2013 Renwood RealtyTrac LLC
U.S. institutional
investor purchases
increased 16 percen...
FLIPPING & INSTITUTIONAL INVESTORS
© 2013 Renwood RealtyTrac LLC
BOOMERANG BUYERS
© 2013 Renwood RealtyTrac
BOOMERANG BUYERS BOOMERANGING MORE QUICKLY
• The News
– HUD just recently changed its guidelines to allow some
homeowners ...
BOOMERANG BUYERS BOOMERANGING MORE QUICKLY
© 2013 Renwood RealtyTrac LLC
4.6 million completed foreclosures
and short sale...
LEVERAGING LOCAL DATA TO HELP HOMEOWNERS
© 2013 Renwood RealtyTrac LLC
1. Know your market
LEVERAGING LOCAL DATA TO HELP HOMEOWNERS
© 2013 Renwood RealtyTrac LLC
2. Identify individual
homeowners in foreclosure
LEVERAGING DISTRESSED MARKET TRENDS TIP NO. 2
©RealtyTrac Inc. 2013, Not for Distribution
Filter by property
value and
cha...
LEVERAGING LOCAL DATA TO HELP HOMEOWNERS
© 2013 Renwood RealtyTrac LLC
3. Create mailing lists of
distressed homeowners
LEVERAGING DISTRESSED TRENDS TIP NO. 3
© 2013 Renwood RealtyTrac LLC
Identify homeowners who have
vacated their homes and ...
RESOURCES TO LEVERAGE DISTRESSED MARKET TRENDS
• Real Estate News & Reports (free)
• http://www.realtytrac.com/content
• L...
DAREN BLOMQUIST
VICE PRESIDENT, REALTYTRAC
DAREN.BLOMQUIST@REALTYTRAC.COM
© 2013 Renwood RealtyTrac LLC
THANK YOU!
Upcoming SlideShare
Loading in …5
×

U.S. Treasury Making Home Affordable Short Sale Workshop: Washington, D.C.

557 views
508 views

Published on

Presentation on the latest housing market trends, including short sales and underwater homeowners, given at the Short Sale Workshop for agents sponsored by the U.S. Treasury Department's Making Home Affordable program in Landover, Md., on Sept. 17.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
557
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • RealtyTrac started 1996.Track over 100 million properties nationwide.
  • U.S. & State Foreclosure Starts Apr05-May13
  • 12 Million in 201211 Million in 2013
  • U.S. Treasury Making Home Affordable Short Sale Workshop: Washington, D.C.

    1. 1. LEVERAGING THE LATEST HOUSING MARKET TRENDS © 2013 Renwood RealtyTrac LLC WELCOME
    2. 2. WHAT WE’LL COVER TODAY • A brief bit on RealtyTrac • How long will the short sale surge last? • Home prices buoying underwater inventory • Where foreclosure starts are surging • The problem and opportunity of zombie foreclosures • When and where REOs are rebounding • Flipping and institutional investors • Boomerang buyers boomeranging more quickly © 2013 Renwood RealtyTrac LLC
    3. 3. REALTYTRAC DATA PRIMER Economic Neighborhood & Local MLS Sales & Loan Valuation & Prop Details Foreclosure © 2013 Renwood RealtyTrac LLC
    4. 4. 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
    5. 5. HOW LONG WITH THE SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac
    6. 6. HOW LONG WILL SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC August foreclosure starts at lowest level since December 2005
    7. 7. HOW LONG WILL SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC Seriously underwater means mortgage amount is at least 25 percent higher than estimated market value
    8. 8. HOW LONG WILL THE SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC 1.8 million fewer underwater in last year
    9. 9. UNDERWATER DATA BY COUNTY • County-level interactive heat map • http://www.realtytrac.com/Content/news-and-opinion/seriously-underwater- homeowners-county-heat-map-7856 © 2013 Renwood RealtyTrac LLC
    10. 10. HOME EQUITY PROFILES FOR MAJOR METROS © 2013 Renwood RealtyTrac LLC • http://public.tableausoftware.com/shared/HTMMWH5ZG?:display_count=yes
    11. 11. HOW LONG WILL SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC Average Annual Pct Change YTD in 2013 is 7 percent – will take 3.5 more years at minimum to get all seriously underwater borrowers back with positive equity
    12. 12. HOW LONG WILL SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC At pace of 700,000 short sales a yea it would still take more than 15 yea to sell off all of the 11.3 million seriously underwater homes Up 60 percent compared to year ago YTD
    13. 13. HOW LONG WILL SHORT SALE SURGE LAST? © 2013 Renwood RealtyTrac LLC
    14. 14. HOW LONG WILL SHORT SALE SURGE LAST? • Other considerations that could slow short sales – Rising home prices give lenders hope to hold out for REO – Rising home prices give homeowners hope to hold on • But these homeowners could be future equity sales – Top 5 lenders less motivated to do short sales as they fulfill requirements under the national mortgage settlement – Expiration of Mortgage Forgiveness Debt Relief Act © 2013 Renwood RealtyTrac LLC
    15. 15. HOME PRICES BUOYING UNDERWATER INVENTORY © 2013 Renwood RealtyTrac
    16. 16. HOME PRICES BUOYING UNDERWATER INVENTORY 4.5 million homes nationwide would transition from short sales to equity sales with 10 percent increase in home prices; 8.3 million with a 20 percent rise
    17. 17. © 2013 Renwood RealtyTrac LLC Annualized residential sales above 5 million for nine consecutive months ending in June
    18. 18. LEVERAGING DISTRESSED TRENDS BONUS TIP © 2013 Renwood RealtyTrac LLC Establishing a relationship with a distressed homeowner may not always lead to a distressed sale today; in today’s market it could very likely lead to a non-distressed sale tomorrow.
    19. 19. WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING © 2013 Renwood RealtyTrac LLC
    20. 20. WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING YoY Pct Increases: • Maryland: 365% • Connecticut: 47% • New York: 36% • New Jersey: 27% • Oregon: 59,200%
    21. 21. WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING © 2013 Renwood RealtyTrac LLC YoY Pct Increases: • Florida: 100% • Arkansas: 71% • Illinois: 65% • Wisconsin: 45% • Washington: 21%
    22. 22. WHERE FORECLOSURE STARTS & AUCTIONS ARE REBOUNDING • Why are foreclosure starts and auctions rebounding? – Pent-up foreclosure activity from robo-signing, national mortgage settlement and state legislation/court rulings – Rising prices may be helping to motivate foreclosure • What are implications for real estate agents? – Clock is now ticking on delinquent homeowners – Auctions another source of finding distressed buyers/sellers in the form of investors © 2013 Renwood RealtyTrac LLC
    23. 23. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
    24. 24. THE PROBLEM AND OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
    25. 25. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
    26. 26. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES © 2013 Renwood RealtyTrac LLC
    27. 27. THE PROBLEM & OPPORTUNITY OF ZOMBIE FORECLOSURES • The problem – More than 167,000 vacant homes nationwide, 20 percent of all homes in the foreclosure process – Homeowners often don’t realize they still own the property and are responsible for taxes etc. • The opportunity – Homeowners who have exhibited a desire to let go of the property – Lenders who don’t want to foreclose © 2013 Renwood RealtyTrac LLC
    28. 28. WHEN & WHERE REOS ARE REBOUNDING © 2013 Renwood RealtyTrac LLC
    29. 29. THE INCREDIBLE DISAPPEARING REOS U.S. REOs have gradually risen over past four months since hitting 72- month low in April
    30. 30. WHEN AND WHERE REOS ARE REBOUNDING © 2013 Renwood RealtyTrac LLC
    31. 31. DEEDS IN LIEU INCREASING BUT NOT IN HUGE NUMBERS © 2013 Renwood RealtyTrac LLC Nationwide Deeds in Lieu of Foreclosure increased 39 percent in 2012 from 2011
    32. 32. THE INCREDIBLE DISAPPEARING REOS • REOs are down but not out – Recent rise in foreclosure starts and scheduled foreclosure auctions in some markets will translate into bank repossessions in the next 6 to 12 months – Rising home prices mean banks may be willing to tackle the increasingly costly and complex REO process to get a higher price out of a property down the road © 2013 Renwood RealtyTrac LLC
    33. 33. FLIPPING & INSTITUTIONAL INVESTORS © 2013 Renwood RealtyTrac LLC
    34. 34. FLIPPING & INSTITUTIONAL INVESTORS U.S. property flips increased 17 percent from a year ago in the second quarter
    35. 35. FLIPPING & INSTITUTIONAL INVESTORS © 2013 Renwood RealtyTrac LLC
    36. 36. FLIPPING & INSTITUTIONAL INVESTORS © 2013 Renwood RealtyTrac LLC U.S. institutional investor purchases increased 16 percent from year ago in Q2
    37. 37. FLIPPING & INSTITUTIONAL INVESTORS © 2013 Renwood RealtyTrac LLC
    38. 38. BOOMERANG BUYERS © 2013 Renwood RealtyTrac
    39. 39. BOOMERANG BUYERS BOOMERANGING MORE QUICKLY • The News – HUD just recently changed its guidelines to allow some homeowners who have gone through foreclosure, short sale or bankruptcy to qualify for FHA financing. – Now these homeowners can qualify for FHA financing as soon as 12 months after the “last event” – This is down from a minimum of 36 months • The Opportunity – Reach out to your list of homeowners who have sold via short sale in the last year-plus to see if they are interested in buying. – Get lists of homeowners who have lost their home to foreclosure in your area in the last year-plus
    40. 40. BOOMERANG BUYERS BOOMERANGING MORE QUICKLY © 2013 Renwood RealtyTrac LLC 4.6 million completed foreclosures and short sales from 2007 to 2010. Additional 2.4 million completed foreclosures and short sales in 2011 and 2012
    41. 41. LEVERAGING LOCAL DATA TO HELP HOMEOWNERS © 2013 Renwood RealtyTrac LLC 1. Know your market
    42. 42. LEVERAGING LOCAL DATA TO HELP HOMEOWNERS © 2013 Renwood RealtyTrac LLC 2. Identify individual homeowners in foreclosure
    43. 43. LEVERAGING DISTRESSED MARKET TRENDS TIP NO. 2 ©RealtyTrac Inc. 2013, Not for Distribution Filter by property value and characteristics Filter by property type Filter by equity/LTV Filter by lender name and auction date Filter by listing status and bankruptcy status Target potential short sale listings with advanced search filters
    44. 44. LEVERAGING LOCAL DATA TO HELP HOMEOWNERS © 2013 Renwood RealtyTrac LLC 3. Create mailing lists of distressed homeowners
    45. 45. LEVERAGING DISTRESSED TRENDS TIP NO. 3 © 2013 Renwood RealtyTrac LLC Identify homeowners who have vacated their homes and get new mailing addresses
    46. 46. RESOURCES TO LEVERAGE DISTRESSED MARKET TRENDS • Real Estate News & Reports (free) • http://www.realtytrac.com/content • Local Stats & Trends (embeddable) • http://www.realtytrac.com/trendcenter/ • Professional subscription (address-level access) – Call 877-888-8722 or http://www.realtytrac.com/agentproduct • Download data/create lists: http://mega.realtytrac.com © 2013 Renwood RealtyTrac LLC
    47. 47. DAREN BLOMQUIST VICE PRESIDENT, REALTYTRAC DAREN.BLOMQUIST@REALTYTRAC.COM © 2013 Renwood RealtyTrac LLC THANK YOU!

    ×