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Archived Foreclosure Newsletters

The Home Stand

Issue #18
August 31, 2008

In This Issue:

  • Arizona is Booming!
  • S. California Foreclosures Decrease in July 2008
  • Phoenix Area Forclosures Decline By Six Percent

Have you ever wondered why we celebrate Labor Day? As I was trapped in my office late one night (working of course), I decided to research the September holiday. Here is what I read on History.com:

"With the long hours and terrible working conditions, American unions became more prominent and voiced their demands for a better way of life. On Tuesday September 5, 1882, 10,000 workers marched from city hall to Union Square in New York City, holding the first-ever Labor Day parade. Participants took an unpaid day off to honor the workers of America, as well as vocalize issues they had with employers. As years passed, more states began to hold these parades, but Congress would not legalize the holiday until 12 years later."

So, there it is. Labor Day was established by hard working Americans to honor the 12-hour work day, lunch pail in hand, never complaining employees in our great country. While I believe we should all take a day to rest and be with our family and friends, the following day is the time to go out and make some serious foreclosure deals. Now that the kids are back in school and the summer vacations are over, grab your Default Research lists and work them!

A good place to start, as you will read in this month's newsletter, is Arizona. That state may have reached the bottom of the foreclosure crisis just in time for our clients to invest using our leads. Major money is going into education at ASU and into tripling the size of the convention center in Phoenix. The state is also funneling money into the major areas to spur construction of offices and hopefully bringing families into the area.

There are other great areas to invest at this time, and the real estate professionals will discover several more by reading this month's newsletter. We are now offering discounts for those real estate professionals, so give us a call on our new phone line at (888) 211-8396.

As Labor Day approaches, we are working even harder for our clients by now having live telephone lines to answer any questions you might have.

But, of course, we will be closed on Labor Day!

Arizona is Booming!

Before the winter birds get back to Arizona, I suggest our savvy investors soar back there first. With foreclosures declining in July, it looks like the state may be finally reaching the bottom of the housing slump. Even during the real estate crisis, Arizona retained its solid financial base anchored by a strong military presence, a solid high-tech industry, and of course the beautiful weather for the soon to retire baby boomers.

That is just the beginning of the good news for Arizona. Local, state, and federal construction spending has dramatically increased to counter the residential housing crisis. There is a new line rail system that has also spurred new construction and that has been a catalyst for new buildings, including offices and apartment space. With new offices and business brought a need for an expansion of the state's convention center. Last but never least was funding for education. The state pumped approximately $600 million into a major expansion of Arizona State University.

Good news and big spending for Arizona can be converted into good deals and solid investments for our clients. Now, fly away!

S. California Foreclosures Decrease in July 2008

Los Angeles County Tops 100,000 Foreclosures in One Year

Default Research, the premier provider of preforeclosure real estate data in Southern California, is reporting that Notice of Defaults and Notice of Trustee Sales are down approximately eight percent from June 2008 to July 2008. The statistics also show that, over the past year, foreclosure filings in that area have jumped 120 percent from July 2007.

"An improvement of over eight percent in Southern California is welcome news and hopefully the start of an upward trend," said Serdar Bankaci, founder of Default Research. "However, Riverside and Los Angeles counties continue to be major contributors to the 120 percent jump from last year."

Ten percent of the households in Riverside County saw Notice of Default or Notice of Trustee sales being recorded in the past 12 months. Last month there were 7,247 unique foreclosure documents recorded in Riverside. The nation's largest county, Los Angeles, had 12,609 unique recording in July 2008. The 12 month total for that county topped 100,000 for the first time.

"The housing market indicators show a declining inventory of homes for sale, but the median home values also continue to decline," said Bankaci. "Many areas have seen home values fall over 30 percent since the middle of 2006 during the housing boom. Without a short sale or a few other options, it is nearly impossible to sell a home that was overly leveraged."

Below is a unique and accurate local look at how the Default Research foreclosure statistics affect your area:

Los Angeles Foreclosures—Hardest hit cities are Los Angeles (2433), Lancaster (951), Palmdale (934), Long Beach (591), Santa Clarita (334), Pomona (306) and Whittier (263)

Orange County Foreclosures—Hardest hit cities are Santa Ana (552), Anaheim (441), Garden Grove (215), Orange (163), Fullerton (143)

Riverside Foreclosures—Hardest hit cities are Riverside (1031), Moreno Valley (856), Corona (804), Murrieta (507), Perris (465) and Hemet (368)

San Bernardino Foreclosures—Hardest hit cities are Fontana (775), San Bernardino (692), Victorville (610), Hesperia (437), and Rialto (335)

San Diego Foreclosures—Hardest hit cities San Diego (1504), Chula Vista (626), Oceanside (390), Escondido (379) and Vista (213)

Default Research is California's leader in foreclosure research, reporting Notices of Default and Trustee Sales Notices only days after being recorded. More information about Default Research foreclosure information can be found at its Web site: http://www.defaultresearch.com. For more detailed California foreclosure statistics listed by county, please visitmarket.defaultresearch.com.

Phoenix Area Forclosures Decline By Six Percent

Pima and Maricopa Counties Both See Improvements

Default Research, the premier provider of foreclosure real estate data in the Phoenix area, is reporting that foreclosure activity from June 2008 to July 2008 dropped by six percent. However, according to Default Research, the number of unique Trustee Sales recorded in that region has increased 95 percent from July 2007 to July 2008

"Any improvement connected with the foreclosure situation in that region is a good thing," said Serdar Bankaci, founder of Default Research. "We have to temper our enthusiasm because although there is an improvement from last month, the more significant number is the steep increase in unique Trustee Sales over the past year."

The total number of Trustee Sales in Maricopa County was 5,504 while Pima recorded 391 in July. As for households entering foreclosure in the area in the past year, three percent of Maricopa households had a Notice of Trustee Sale recorded while Pima only had recordings of about one percent of households.

"Current market indicators show a drop in median home value of approximately 20 percent in the past twelve months," said Bankaci, whose foreclosure listings arrive two to three weeks ahead of the competition. "Home inventories have remained relatively stable dropping only two percent in the past year. It is a good news and bad news situation in terms of statistics for the Phoenix region as they continue to battle foreclosures."

According to Bankaci, it has only been bad news for homebuyers who purchased in Arizona just two years ago. Bankaci is in contact with one family in the Arizona area who purchased in the middle of 2006 for $300,000 and that same property is now worth $225,000. In addition, that homeowner, with a five percent down mortgage, was facing a loan of $285,000. The difference between the sale price and mortgage price was $60,000. "We were able to connect this family with one of our real estate investors in the region and they were able to avoid foreclosure through a Short Sale," said Bankaci.

Below is a unique and accurate local look at how the Default Research foreclosure statistics affect your area:

Maricopa County: The hardest hit cities are Phoenix (2,010), Mesa (521), Glendale (421), Chandler (208), Surprise (206), and Gilbert (164)

Pima County: The hardest hit cities are Tucson (347), Sahuarita (12), Marana (9), Oro Valley (9), and Vail (7)

Default Research is Arizona's leader in foreclosure research, reporting Notice Trustee Sales days after being recorded. More information about Default Research can be found at its Web site: www.defaultresearch.com. For more detailed Arizona foreclosure statistics listed by county, please visit http://www.market.defaultrsearch.com.

Default Research is a provider of foreclosure listing data to real estate professionals, lenders and investors. Our Arizona coverage includes trustee sale listings in Maricopa, Pima, Pinal and Yavapai Counties. Our information is specifically tailored to give those in the foreclosure industry an edge over their competitors. Default Research's data is verified through many sources to be the most accurate.

Free Book

Order the freshest leads from any Default Research county for six or more months and receive a free copy of, "The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market."

Be sure to check out the forward in the free book written by Default Research President/CEO Serdar Bankaci. Again, to get your free copy, order any county for six months. To order please call 888-211-8396

What is the MOST IMPORTANT MOMENT in a real estate investor's life? It is the 30 to 60 minutes you are with a potential seller trying to get them to sell at a 20% to 50% discount to their homes value!

"Imagine Being Able to Consistently Get Seller's To Sell At A 20% to 50% Discount!"

Wonder if this is possible? It is if you are totally prepared and have a well- done professional presentation during that critical moment.

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Mark Maupin Wayne County, MI


We use the list as a start-up for us and the information is not dated and not picked over like some of the other Detroit area lists. Some companies will make you wait for their leads while they work the leads all week themselves. All we get are their leftovers! Default Research gives the leads out earlier than any other company and we can get the mail pieces or calls out the same day — that equals success and success equals money.

Plus, Default Research gives the leads out early enough and people can get those mail pieces out the same day! Some companies will give the leads out on Saturday, but the mail does not move on that day — Default Research does not do that. The fresh and fast leads mean we are the first to approach the homeowners and therefore the first to try and make a deal.

I feel like if we get 500 people off the list we are able to help about 25-30 a month stay in their houses. We are able to do a good deed and also make several thousand dollars per deal. That is good business!

David Hieb Wayne County, MI


I did tons of free trials on foreclosure web sites trying to find the company with the best foreclosure information. Not until I came across Default Research did I find the sophisticated data sorting criteria and ability to save information in different formats. Finally I had found the most accurate and quick information! I can even check out the foreclosure trends going one year back. Now, I am looking forward to years of working with Default Research!

Sang (Individual Investor) AZ Maricopa County, AZ


I have heard from other foreclosure lead companies that their leads are the freshest, however the lists from Default Research are really the absolute freshest. Most other company's lists are 25-30 days old when they are e-mailed to you. By that time the homeowner has been contacted 20 times by competitors. Getting to a homeowner that late in the game there is no way you can make money!

I knew I wanted to go with Default Research because I wanted to be the first approach homeowners in distress. I wanted to get to them early and within one week of signing up with Default Research, I got my first sale from the list and started making money. I have found in a short time that persistency and consistency of using Default Research will determine your success in the pre-foreclosure market.

Here is some advice: for those individuals who mail out one letter to each potential client and give up and say it doesn't work, they are RIGHT. It won't work unless you work the program — remember persistency and consistency and — profits and cash.

Greg Talbot Pima County, AZ


I'm just getting started and want to learn "everything" — there is so much! I do like the idea of helping people which was a nice thing about your list — there was that possibility.

Jackie Norvell Wayne County, MI


The earlier I was able to get the leads was well worth the money because it meant more money for me in the long run. Some of the records I got from Default Research did not hit other sites for a week or week and a half. I was able to get to them earlier so the chance to work with them and help them was a lot greater.

Chris Brooks San Diego County, CA


I was actually able to talk directly to the people with the leads that Default Research provided. Great to hear that your company is growing and providing investors with research that can truly save a homeowners property or help them find a way to get out.

Adam Chiasson Wayne County, MI


I have tried several different foreclosure lists and Default Research is by far the freshest and most accurate. I switched over to Default Research two months now and I've been able to close two lucrative short sale deals netting me over $50,000. Before Default Research it would take me months to turn that much profit, now I expect it at least once a month.

Mike (Short Sales) San Diego County, CA


I can't tell you how many times I used to call numbers of homes in foreclosure only to find out that the number was turned off. I can tell you how many times that has happened since I started using Default Research. The answer is none! Those homeowner phone numbers pay for the lists on their own. As a mortgage broker these leads are excellent and much better than those provided for free.

Lauren (Mortgage Broker) Los Angeles County, CA


After being in the foreclosure business for over a decade now, I have seen almost every lead company. Every company claims to provide the freshest lists — Default Research does! Not only fresh, but accurate! The homeowner mailing lists allow me to find homeowners that have moved out of their houses. And, over 20 percent of my marketing mail came back to me as undeliverable. So far less than 1 percent of our mail has come back when using the Default Research information.

James (Real Estate Investor) King County, WA


Talk about being the first to approach a homeowner in distress. How about actually notifying a homeowner over the phone that they were in foreclosure! It happened with the Default Research homeowner phone numbers. The phone numbers are crucial in getting to the homeowner quickly. Keep up the great work!