Posts Tagged ‘foreclosures’

NC Home Foreclosures Drop 38%…..Really?

According to the Business Journal article linked below, foreclosure filing rates in NC are down 38% compared to one year ago.  The question is, as the article mentions, whether these numbers are skewed because of continued bank delays in processing foreclosure documents.  I tend to think that’s the case.  Our Clients have indicated there is still plenty more on the way.  Make sure you are registered on the Source Feed to recieve emails on all new bank-owned inventory from our office:



FDIC Quarterly Banking Report

Below is an excerpt from the Q4 2010 FDIC Quarterly Banking Report:

The fourth quarter 2010 FDIC Quarterly Banking Profile (QBP) is now available on line. FDIC-insured institutions reported an aggregate profit of $21.7 billion in the fourth quarter of 2010, a $23.5 billion improvement from the $1.8 billion net loss the industry reported in the fourth quarter of 2009. This is the sixth consecutive quarter that earnings registered a year-over-year increase. Almost two-thirds of all institutions (62 percent) reported improvements in their quarterly net income from a year ago. The average return on assets (ROA) rose to 0.65 percent, from negative 0.06 percent a year ago. Although community banks’ aggregate return on assets lags the ROA for larger institutions, as a group they are recovering, as most community banks reported higher earnings than a year ago.

Link to Full Report Here

New “Property Feed” is LIVE

The New ‘Source Property Feed’ is now LIVE at our website:

This new technology has been in development for the last six months and will allow our investors to customize their search criteria and receive real-time email updates on Pre-Market Foreclosures as soon as they become available.  Click here to register:

IMPORTANT NOTE:   Investors previously registered with us will have to re-register under the new system.