American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Industry News

New Study Investigates Residential Real Estate Foreclosures

October 28, 2005

   Related Information
Residential Foreclosures: The Prevalence, the Power and the Opportunity

ANAHEIM, -- First American Real Estate Solutions (RES®) released a new study today that investigates the prevalence of foreclosure sales and the depth of discounts in 629 counties in 36 states, including the District of Columbia.

Entitled "Residential Foreclosures: The Prevalence, the Power and the Opportunity," the study by Christopher Cagan, Ph.D., director of research and analytics at First American Real Estate Solutions, quantifies the correlation between foreclosures as a percentage of total sales and the size of the discount buyers typically receive when purchasing foreclosure properties.

For example, in Maricopa County, Ariz., where foreclosure sales accounted for 1.6 percent of total sales during the first half of 2005, the median discount was 6.3 percent. Whereas in St. Louis, Mo., foreclosures made up 7.9 percent of sales for the same time period, with a median discount of 29.5 percent.

"The prevalence of foreclosures and the depth of discounts are sensitive indicators of the present and future state of a real estate market, regardless of geographic location or market type," said Cagan.

Among the areas with few foreclosure sales and little or no foreclosure discounts during the first half of 2005 were California, the District of Columbia, Hawaii, New Mexico, Virginia, Nevada, Florida and Arizona. States where foreclosures were most prevalent and discounts were deepest included Michigan, Missouri, New York, Ohio, South Carolina and Tennessee.

"Our clients are seeking advanced analytics to respond to trends, often in multiple markets," said George Livermore, president of The First American Corporation's Property Information and Services Group. "This comprehensive, nationwide analysis helps businesses identify areas where foreclosures are more frequent, and that helps them make more informed decisions."

During the last decade, First American RES has compiled the nation's largest database of property information and today utilizes it in conjunction with proprietary processes to improve operational efficiency and deliver new analytical products and services to its clients.

Source: First American Real Estate Solutions

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment