• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

Hampton Roads sets record with foreclosure filings

The number of local foreclosure-related notices in Hampton Roads VA in December 2009  hit 1,200, up 35 percent from November and 38 percent higher than a year ago, according to RealtyTrac, an online foreclosure-monitoring service based in Irvine, Calif. That tops the earlier high of 1,164 in April 2009. The spike in foreclosure activity came after several months of steady declines through the fall.

It seems that the government programs aimed at foreclosure prevention are having little impact locally and across the country.

Foreclosure activity nationwide also jumped last month, as 349,519 properties received foreclosure notices, up 14 percent from November and 15 percent from a year earlier. The national data include notices of default, the first stage of the foreclosure process after a homeowner has missed mortgage payments.

Nevada, Arizona, Florida post top state foreclosure rates in 2009

More than 10 percent of Nevada housing units received at least one foreclosure filing in 2009, giving it the nation’s highest state foreclosure rate for the third consecutive year.

Arizona registered the nation’s second highest state foreclosure rate in 2009, with more than 6 percent of its housing units receiving at least one foreclosure filing during the year, and Florida registered the nation’s third highest foreclosure rate, with 5.93 percent of its housing units receiving at least one foreclosure filing during the year.

Other states with 2009 foreclosure rates ranking among the nation’s 10 highest were California (4.75 percent), Utah (2.93 percent), Idaho (2.72 percent), Georgia (2.68 percent), Michigan (2.61 percent), Illinois (2.50 percent), and Colorado (2.37 percent).

California, Florida, Arizona, Illinois account for 50 percent of national total

Four states accounted for more than 50 percent of the nation’s 2009 total, with more than 1.4 million properties receiving a foreclosure filing in California, Florida, Arizona and Illinois combined.
Other states with 2009 totals among the 10 highest in the country were Michigan (118,302), Nevada (112,097), Georgia (106,110), Ohio (101,614), Texas (100,045), and New Jersey (63,208). Virginia with 52,127 was ranked 16th in the state.

The easing of foreclosure activity during the fall was "driven primarily by short-term factors: trial loan modifications, state legislation extending the foreclosure process and an overwhelming volume of inventory clogging the foreclosure pipeline," according to RealtyTrac’s CEO  James J. Saccacio.

"In the long term, a massive supply of delinquent loans continues to loom over the housing market, and many of those delinquencies will end up in the foreclosure process in 2010 and beyond as lenders gradually work their way through the backlog," he said.

“As bad as the 2009 numbers are, they probably would have been worse if not for legislative and industry-related delays in processing delinquent loans,” said James J. Saccacio, chief executive officer of RealtyTrac. “After peaking in July with over 361,000 homes receiving a foreclosure notice, we saw four straight monthly decreases driven primarily by short-term factors: trial loan modifications, state legislation extending the foreclosure process and an overwhelming volume of inventory clogging the foreclosure pipeline.

“Despite all the delays, foreclosure activity still hit a record high for our report in 2009, capped off by a substantial increase in December,” Saccacio continued. “In the long term a massive supply of delinquent loans continues to loom over the housing market, and many of those delinquencies will end up in the foreclosure process in 2010 and beyond as lenders gradually work their way through the backlog.”

 

Call or for more detailed property listings.

I have created a free, no-obligation Foreclosure Finder Service for Bank owned properties.

At your request, we will  sift and sort through all of the information, automatically finding and matching the foreclosed properties that meet your exact specifications. The information is then e-mailed to you on a daily basis.

From the privacy of your own home, you can study, compare, and drive by the properties. When you find a bank-owned home you’d like to see, all you need to do is pick up the phone, give me a call, and we’ll make the arrangements with the bank to get you inside the property at your convenience.

Buyers Beware: Don’t pay any subscription fee to get list of foreclosure homes.

My list is available to you free  me just for asking.


Simply send me an email indicating the areas of Hampton Roads or Williamsburg VA you are interested in along with price range and home criteria.

email John@MrWilliamsburg.com

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