The Impact of Interest Rate Increases on Foreclosures in Commercial Real Estate
As interest rates continue to rise, commercial real estate owners are facing increased financial pressure. The Federal Reserve’s series of interest rate hikes have caused a shift in the market, and many property owners, especially those with variable-rate loans, are feeling the effects. For owners struggling with cash flow, this has the potential to push […]
2024 Year in Review: Key Trends in Foreclosures and What They Mean for 2025
As 2024 comes to a close, the foreclosure landscape has been shaped by economic shifts, regulatory changes, and evolving market conditions. At Peak Foreclosure Services, we’ve analyzed the year’s data to highlight significant trends and their implications for 2025. Here’s a closer look at the key developments that defined 2024 and what they mean for […]
Commercial Foreclosures on the Rise: A Deep Dive into the Current Landscape
The commercial real estate sector is experiencing unprecedented challenges, as evidenced by the recent spike in foreclosure rates. With commercial foreclosures reaching alarming levels, the industry faces a reckoning that could reshape its future. Record High Foreclosure Rates Recent reports indicate that commercial foreclosure rates have surged, with a staggering 50% increase in filings over […]
Understanding AB2424: New Changes to the Foreclosure Sale Process in California
On September 20, 2024, Governor Gavin Newsom signed Assembly Bill 2424 (AB2424) into law, marking a pivotal shift in the foreclosure landscape in California. This legislation introduces several significant changes aimed at enhancing transparency and consumer protections during the foreclosure sale process. AB2424 will take effect on January 1, 2025, and it is crucial for […]
Commercial Real Estate Foreclosure Rates Hit Record Highs With No Relief in Sight
To say the commercial real estate market is foundering would be an understatement. Unfortunately, the words “crisis” and “bloodbath” would be more accurate, and there is no telling when the CRE market will recover from its current position. ATTOM’s most recent report shows that commercial foreclosures nationwide rose by 6% from last month and an […]
Which States Have the Highest Commercial Real Estate Foreclosure Rates?
The commercial real estate market has struggled to stabilize after the COVID-19 pandemic, as seen by the 117% year-on-year rise in foreclosure rates. The office sector, which accounts for over 40% of the value of distressed properties in the United States, is facing the greatest headwinds due to cratering demand for office space amidst an […]
Which States Have the Highest Foreclosure Rates?
When foreclosure rates decreased in October and November 2023, ATTOM CEO Rob Barber warned that it was part of the “cyclical nature of the market” rather than a long-term trend. Unfortunately, Barber has been proven right this year as foreclosures rise throughout the United States. In February 2024, lenders started the foreclosure process on 22,757 […]
Foreclosure Activity Rises Year-on-Year as Consumers Struggle to Adapt to Unstable Economic Conditions
In 2020, the foreclosure rate went down to .16%. The following year saw an additional decrease as the rate went to a record low of .11%. Unfortunately, the end of the COVID mortgage payment moratoriums, coupled with inflation and an unstable economy, have contributed to a foreclosure rise that appears to have no end in […]
Home Foreclosures are on the Rise This Year. Find Out Which Areas are Most Affected
Foreclosures are becoming an increasingly commonplace throughout the United States as homeowners struggle in an uncertain economic environment beset with inflation, rising property taxes, a restart in student loan payments, and other financial issues. ATTOM’s February 2024 report shows that foreclosure starts are up 11% year-over-year while the total number of foreclosure filings has seen […]
Commercial Real Estate Foreclosures Soar as Market Adjusts to Post-Pandemic Realities
ATTOM’s recent report on commercial foreclosures in the United States notes that there are 635 foreclosure filings as of January 2024. This is up 97% from January 2023, and 17% higher than December 2023; however, ATTOM CEO Rob Barber doesn’t see this as being a bad thing. Barber notes the current meteoric rise in the […]