Wednesday, April 3, 2013
Medford numbers reflect the state in both instances.
Figures released by the Warren Group indicate both home sales and foreclosures were down in Medford for February compared to the same month in 2012. February 2013 saw 16 home sales in Medford, down over 27 percent from February 2012, when 22 homes were sold. Condo sales were actually up slightly, from nine in 2012 to 11 in that same month in 2013. Foreclosure petitions, deeds and auctions were all down in Medford for February 2013 compared to a year ago, according to the Warren Group. There were three foreclosure petitions in February with eight the previous February, no foreclosure auctions compared to three last year and one foreclosure deed with four a year ago. Median home sale prices in February were up nearly five percent from a year…
Thursday, March 7, 2013
Five fewer petitions filed in January in the city compared to December.
There were fewer home foreclosure petitions, auctions and deeds in Medford in January 2013 compared to the same month in 2012, according to data recently released by the Warren Group. In January 2012, Medford saw four foreclosure petitions, seven foreclosure auctions and three foreclosure deeds. This January there were just three petitions and no auctions or deeds within the city. there were eight foreclosure petitions in Medford in December 2012. The Warren Group said number of foreclosure petitions statewide dropped almost 30 percent in the year-over numbers for the month, declining to 940 from 1,333 in January 2012. Petitions have dropped for three consecutive months in the Bay State, according to the Warren Group.
Friday, February 1, 2013
Auctions down 46 percent, deeds down 38 percent for the year.
Home foreclosure petitions, auctions and deeds were all down in Medford for 2012 compared to the previous year, according to the latest figures from The Warren Group. There was actually one more foreclosure petition in Medford in Dec. 2012 than Dec. 2011, with eight petitions last month and seven in the same month in 2011. For the year, total foreclosure petitions were down from 92 in 2011 to 85 in 2012, a drop of 7 percent. There was only one foreclosure auction in Medford in December and no foreclosure deeds. There were five of each in Medford in Dec. 2011, according to The Warren Group's figures. A total of 22 foreclosure auctions happened in Medford in 2012, down from 41 in 2011. This represents a total drop over 46 percent. Meanwhile…
Wednesday, October 3, 2012
Only three foreclosure petitions were recorded in August.
Only three foreclosure petitions were recorded in Medford last month, down from 12 in August 2011, according to recently released data. Year-to-date, there have been a total of 53 foreclosure petitions in Medford, one fewer than the same time period last year, according to data from real estate publisher The Warren Group. That bucks state trends, as foreclosure petitions in Massachusetts have significantly risen compared to this time last year. A total of 12,079 foreclosure petitions have been initiated so far in Massachusetts this year, up from 8,253 petitions through August 2011, according to the data. But not all news is bad on the state level. August had the fewest foreclosures in Massachusetts this year, according to the data. And …
Tuesday, September 18, 2012
A look at the most recent real estate data.
Foreclosures in Medford dipped slightly this July compared to last year, but there have been more foreclosures year-to-date in 2012, according to recent data. There were seven foreclosure petitions filed for Medford properties in July compared to nine in July 2011, according to data from real estate publisher The Warren Group. Year-to-date, there have been 51 foreclosures in Medford, up from 43 through July of 2011, according to the data. The numbers in Medford are similar to state trends. Foreclosures were down 17 percent in July 2012 compared to July 2011, from 1,441 to 1,198, according to the data. Still, foreclosures are up considerably statewide from last year, with 6,856 initiated through July 2012 compared to 10,623 in as many …
Friday, July 27, 2012
Under the compromise, lenders would not be required to enter into mediation before foreclosing.
The House and Senate passed a compromise on the foreclosure bill that scraps the contentionous mediation provision but requires lenders to modify certain loans before evicting homeowners. According to the bill, mortgages that are more expensive to foreclose on than to modify need to be adjusted. In other words, if the expected recovery from a foreclosure is of less value than that which would be gained by modifying the loan, the lender is required to adjust the loan. The bill would also ban foreclosures that lack the proper documentation. But this documenation does not have to include mediation, which was part of an earlier foreclosure-prevention bill passed by the Senate. This measure was strongly opposed by the Massachusetts Bankers …
Tuesday, June 26, 2012
Foreclosures more than doubled statewide.
Medford foreclosures rose sharply in May compared to the same month in 2011, mirroring statewide trends. There were ten foreclosure petitions in May, compared to six in May 2011, according to data from real estate research company The Warren Group. Statewide, foreclosures jumped from 699 in May 2011 to 1,724 last month, according to the data. Year-to-date, there had been 35 foreclosure petitions in Medford through May, up from 26 in the same time frame last year. Some experts don't see an end to the rise anytime soon, as a recent settlement between lendors and states could open the flood gates on foreclosures that have been tied up as banks certain procedures. "Foreclosures are expected to rise throughout this year. We're seeing banks …
Tuesday, June 12, 2012
Legislation was passed last week.
Tuesday, June 12, 2012
The following information was Sen. Patricia Jehlen's office: The Massachusetts State Senate last week approved a bill aiming to require lenders to offer modified loans to people on the verge of foreclosure. Under the legislation, lenders conduct a financial analysis to determine whether receiving lower monthly mortgage payments from the borrower would bring a better return than the anticipated recovery from a foreclosure. Sen. Patricia Jehlen, a Democrat serving Medford and Somerville, has been vocal in her support of the bill. “This bill will help keep people in their homes,” Jehlen said in a written statement. “The foreclosure crisis has affected many, with 62 properties already foreclosed upon and 179 more in the process in my …
Thursday, March 22, 2012
A monthly comparison of foreclosure numbers.
Foreclosures were up last month compared to February 2011 in Medford, in line with state trends, according to data from the Warren Group. In Medford, there were eight foreclosure petitions in February 2012, compared to three last February, according to the data. Year date, there were 12 foreclosure petitions in Medford through February compared to eight through February 2011. Statewide, there were 1,394 foreclosures in February, more than double February 2011, when there were 694, according to the Warren Group, a Boston-based real estate services company. Foreclosures were essentially "frozen" last February, due to a lawsuit against lenders and a new law that allowed mortgage-holders more time to settle late bills, the report said. "The …