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ยป "It's been quite a positive year for the local housing market. We're beginning to see a brighter picture, with less foreclosures and more home sales," said Timothy M. Warren Jr., CEO of the Warren Group. "An improving employment picture combined with government-backed programs are leading to fewer mortgage delinquencies." However, year-to-date, foreclosure petitions were up 40 percent to 16,317. During the same time period in 2011, 11,625 foreclosure petitions were filed. Data from the Warren Group also revealed fewer auction announcements. In November 2012, there were 381 announcements, down by almost 72 percent from November 2011. As of year-end 2012, auction announcements reached approximately 12,665, a 20 percent decrease from the same period in 2011. STAT INSIGHT Michigan Combined years experience: 40+ Jerry Takis c: 248.755.5600 Caryn Jensen c: 248.320.5760 jerry@takishomes.com cjsellsre@comcast.net o: 248.681.8300 www.legacy4u.com IN THE NEWS Best Homes Title Agency Moves into West Michigan with New Partnership VISIT US ONLINE @ DSNEWS.COM to new purchase/refinance transactions, commercial, and bank-owned property, Best Homes Title is underwritten by First American Title Insurance Company, Fidelity National Title Insurance Company, and Old Republic National Title Insurance Company. Commercial and new construction transactions are handled under the recently branded BHT Commercial Division. KNOW THIS The annual increase in home prices was 7.8% in Detroit, Warren, and Livonia, Michigan from Q4 2011 to Q4 2012, according to Clear Capital. Minnesota rank: 42 90+ Day Delinquency Rate Foreclosure Rate november 2012 1.58% 1.38% Boston homeowners living free and clear at the end of Q3 2012. Source: Zillow Michigan rank: 38 90+ Day Delinquency Rate Foreclosure Rate november 2012 2.73% Unemployment Rate 1.57% 8.9% year ago 3.36% 2.53% 9.6% percent point change -18.7% -38.0% -7.3% Top County BranCh CounTy 90+ Day Delinquency Rate november 2012 3.07% Foreclosure Rate 2.65% year ago 2.86% 4.57% percent point change 7.4% -41.9% Top Core-Based Statistical area ColdwaTer, MI 90+ Day Delinquency Rate Foreclosure Rate november 2012 3.07% 2.65% year ago 2.86% 4.57% percent point change 7.4% note: -41.9% The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the November 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 5.7% year ago 1.81% Best Homes Title Agency is expanding its presence in Michigan. The company recently announced it is putting down roots in several locations in the western part of the state with the acquisition of the Closing Office Title Agency. Best Homes Title is headquartered in Farmington Hills, with an ancillary office in Saginaw. The acquisition of the Closing Office Title Agency will add six more locations to the company's statewide footprint: Grand Rapids, Portland, Grandville, Rockford, Newaygo, and Kentwood "We're so proud to be further expanding our reach across Michigan with the addition of a Grand Rapids office, but even more so, we are thrilled to be acquiring an agency with as stellar a reputation as the Closing Agency," said Neil Sherman, president and co-founder of Best Homes Title. "We enjoy a shared work ethic, growth strategy, and experienced professional teams that are committed to providing superior customer service. It's a win for us, and for our collective current and prospective clients." Founded in 2006 by Sherman and Peter Schneiderman, both real estate attorneys with Schneiderman & Sherman, Best Homes Title provides traditional property title services to customers throughout Michigan and currently boasts 45 employees between its two locations. The addition of the Closing Office team will grow Best Homes Title's staff to 60. One of the largest title agencies in the state, with divisions dedicated specifically Unemployment Rate 2.10% 5.9% percent point change -12.6% -33.9% -3.4% Top County Todd CounTy 90+ Day Delinquency Rate Foreclosure Rate november 2012 2.47% 3.06% year ago 1.90% 2.69% percent point change 29.7% 13.4% Top Core-Based Statistical Area WinonA, Mn 90+ Day Delinquency Rate Foreclosure Rate november 2012 2.05% 2.14% year ago 1.97% 2.59% percent point change 4.1% -17.4% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the November 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Minnesota www.MinnesotaREO.com Bruce McAlpin Jeff Detloff Long H. Doan Maribel Garcia Garth Johnson Craig Murphy Michael Olsen 612-669-6324 952-829-2938 763-432-7640 612-821-7500 952-844-1511 763-533-9133 651-209-8444 113