Both are good signs for a future recovery.
The following is from www.Foreclosureradar.com :
The first half of 2010 saw relatively good news for most participants in the
foreclosure market. Foreclosure cancellations rose as homeowners saw more
short sales and loan modifications approved. Investors quickly flipped their
foreclosure purchases for solid profits as buyers hurried to take advantage
of tax credits. As the tax credits expired, however, the market began to
slow. Foreclosure cancellations also began to drop as the government push
for loan modifications waned and short sales slowed with the rest of the
housing market. Finally, in the beginning of the third quarter, the
robo-signing scandal led to dramatically lower foreclosure sales, including
a complete halt by Bank of America for nearly two months.
Foreclosure Starts 2007-2010
For the first time since the foreclosure crisis began, Arizona, California,
and Nevada saw a drop in the filing of new foreclosure actions. Oregon and
Washington, however, continued to climb, but with much lower percentage
increases than the prior 2 years.
SUNIL SETHI REAL ESTATE
CA DRE#: 01173766