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» VISIT US ONLINE @ DSNEWS.COM 89 Tennessee RANK: 36 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JANUARY 2014 3.57% 1.05% 7.2 YEAR AGO 3.85% 1.51% 8.1 YEAR-OVER-YEAR CHANGE -7.2% -30.1% -0.9 Top County TROUSDALE COUNTY 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 4.91% 2.86% YEAR AGO 4.70% 2.14% YEAR-OVER-YEAR CHANGE 4.4% 33.4% Top Core-Based Statistical Area BROWNSVILLE, TN 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 7.79% 2.06% YEAR AGO 8.98% 1.84% YEAR-OVER-YEAR CHANGE -13.3% 11.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary January 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Tennessee All Stars Realty 2857 Shelby Street, Bartlett, TN 38134 901-674-7653 cell 901-387-1199 offi ce 901-432-5445 fax ritadriver1@gmail.com www.driverteam.net Rita Driver President – Principal Broker IN THE NEWS Institutional Investor Sales Decline RealtyTrac released its January 2014 Residential & Foreclosure Sales Report on at the end of February, revealing institutional investors made up 5.2 percent of all U.S. residential property sales in January. Institutional investor sales are down from 7.9 percent in December, and down 8.2 percent from January 2013. IN THE NEWS Law Firm Acquisition First Sign of Changes in Default Servicing? In a move that could signal a sea change in the industry, mortgage banking law firm Butler & Hosch recently announced that it would acquire Atlanta-based Mc- Curdy & Candler's default practice. McCurdy & Candler regard the move as a strategic alignment that will allow them to e report clarified that institutional investors are "defined as entities purchasing at least 10 properties in a calendar year." e January share of institutional inves- tors was the lowest monthly level since March 2012—a 22 month low. Short-sales and foreclosure-related sales, "including both sales to third party buyers at the public foreclosure auction and sales of bank-owned properties," combined for 17.5 percent of all U.S. residential shares in January 2014, according to the company's report. All-cash sales increased to 44.4 percent, the seventh month above 35 percent. "Many have anticipated that the large in- stitutional investors backed by private equity would start winding down their purchases of homes to rent, and the January sales numbers provide early evidence this is happening," said RealtyTrac VP, Daren Blomquist. Metro areas with big drops in institutional investor share from a year ago included Cape Coral-Fort Myers, Florida (down 70 percent); Memphis, Tennessee (down 64 percent); Tucson, Arizona (down 59 percent); Tampa, Florida (down 48 percent); and Jacksonville, Florida (down 21 percent). Counter to the national trend, 23 of the 101 metros analyzed in the report posted year- over-year gains in institutional investor share: Atlanta, Georgia (up 9 percent); Austin, Texas (up 162 percent); Denver, Colorado (up 21 percent); Cincinnati, Ohio (up 83 percent); Dallas, Texas (up 30 percent); and Raleigh, North Carolina (up 15 percent). Blomquist continued, "It's unlikely that this pullback in purchasing is weather- related given that there were increases in the institutional investor share of purchases in colder-weather markets such as Denver and Cincinnati, even while many warmer- weather markets in Florida and Arizona saw substantial decreases in the share of institu- tional investors from a year ago." Texas RANK: 41 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate JANUARY 2014 2.47% 0.89% 5.7 YEAR AGO 2.51% 1.26% 6.5 YEAR-OVER-YEAR CHANGE -1.6% -29.8% -0.8 Top County PECOS COUNTY 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 1.18% 3.35% YEAR AGO 1.25% 1.51% YEAR-OVER-YEAR CHANGE -5.2% 122.0% Top Core-Based Statistical Area EAGLE PASS, TX 90+ Day Foreclosure Delinquency Rate Rate JANUARY 2014 2.55% 2.03% YEAR AGO 3.20% 1.73% YEAR-OVER-YEAR CHANGE -20.5% 17.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary January 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Texas Bonita Foucher, REALTOR Coldwell Banker APEX, REALTORS 7705 San Jacinto Place #200 Plano, TX 75024 (214) 455-4021 cell | (972) 208-8797 office (972) 208-7711 fax | b.foucher@tx.rr.com www.bfoucher.cbapex.com The equity share for homes in Tennessee for the month of January was 89.8 percent, according to CoreLogic. KNOW THIS