That rat and the snake - Lis Pen filings for Walton

[30ashopper]

The graph pretty much sums it up. Anecdotal evidence indicates the average turn around time in Walton is around 12 - 15 months. I'd say right now we are in a peak period in terms of foreclosures entering our market.

* Note, this is based on Lis Pen filings with the county, and does not represent the actual number of foreclosures. It only represents the trend.

 

[DuneAHH]

The graph pretty much sums it up. Anecdotal evidence indicates the average turn around time in Walton is around 12 - 15 months. I'd say right now we are in a peak period in terms of foreclosures entering our market.

* Note, this is based on Lis Pen filings with the county, and does not represent the actual number of foreclosures. It only represents the trend.

30S - do you have any way to overlay foreclosures onto this graph?

 

[30ashopper]

30S - do you have any way to overlay foreclosures onto this graph?

No I don't, the county doesn't provide statistics for this. I wish I had auction/mo historical data, but the county's action site doesn't appear to provide that either.

 

[Tom Curlin]

Is the line a moving average and if so how many months trailing?

 

[passin thru]

The correct term is 'lis pendens' .... Latin for "suit pending"

n. Latin for "a suit pending," a written notice that a lawsuit has been filed which concerns the title to real property or some interest in that real property. The lis pendens (or notice of pending action) is filed with the clerk of the court, certified that it has been filed, and then recorded with the county recorder. This gives notice to the defendant who owns real estate that there is a claim on the property, and the recording informs the general public (and particularly anyone interested in buying or financing the property) that there is this potential claim against it. The lis pendens must include a legal description of the real property, and the lawsuit must involve the property. Otherwise, if there is a petition to remove the lis pendens from real property not involved in the lawsuit, the plaintiff who originally recorded a false lis pendens will be subject to payment of attorneys fees as a penalty. Example: Joe Plumbob provides work and materials to Smith's home, sues to enforce a mechanic's lien, but records a lis pendens describing three other properties owned by Smith; Plumbob can be penalized by court order.

 

[Tom Curlin]

Yes but in the county records system Lis Pen is the abbreviation used to signify the filing type.

 

[30ashopper]

Is the line a moving average and if so how many months trailing?

3 or 4 month moving average I think.