New foreclosure active takes big drop in Johnson City, Kingsport-Bristol MSAs

A total of 31 Tri-Cities properties received a notice of trustee sale in April. Another 17 joined the region’s properties in REO status.  Those numbers are from RealtyTrac’s April monthly foreclosure report.

According to the report there were 12 notices of trustee sales in the Johnson City MSA and six new REP properties.  There were 19 new trustee sales notices in the Kingsport-Bristol MSA and 11 new REO properties.

Compared to the same month last year, April’s report showed new foreclosure activity down 47% in the three-county Johnson City MSA and 33.3% in the four-county Kingsport-Bristol MSA.

In a related report, CoreLogic’s current foreclosure report shows the foreclosure rates in both Tri-Cities MSAs below 1% and trending near a pre-recession norm of about one-half percent. CoreLogic’s mortgage delinquency report also the rate slowly declining in both MSAs.

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing. Some foreclosure filings entered into the database during the month may have been recorded in previous months.


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