Things are getting better ... or are they?
Public Trustee Tom Mowle today released the October report for foreclosures, showing a mixed message for local economic conditions.
First, the good news, from Mowle's news release:
In October, 3,352 Deeds of Trust were released, the 3rd monthly increase in a row and the first time in over a year that we have released more than 3000 deeds for three months in a row. This reflects an increase in private property home sales or refinancings. While the absolute numbers remain lower than what we would expect to be “normal” based on population growth — and we are still on track for the fewest number of releases since 2000 — the trend since early summer has been steadily on the increase. This is absolutely good news.
He notes the higher number could reflect banking analysts' prediction of a final surge in foreclosures between late 2010 and mid-2012, as the last of the "creative financing" arrangements expire.