The good news is the number of home owners who were put on notice for defaulting on their mortgage payments dropped last month to the lowest level since 2006, a good indication for home owners not as positive for buyers.

I am not convinced that totally means things are getting better but Foreclosure processing delays continue to mask the true face of the foreclosure situation along with working out affordable plans for the home owner.

Foreclosure filings are down on an average of 33% over the last 8 months over 2010 same time.

 Overall, banks hold 2 million homes in some stage of foreclosure. Banks are on track to repossess about 200,000 fewer homes this year than in 2010; the projection is 800,000 this year compared to 1 million last year.

Is this a sign of a recovery in real estate, which has been bogged down by a high number of foreclosures over the last several years? I believe it is a positive sign along with the investors grabbing up bank owned properties as fast as they can, the drop in foreclosure filings along with depleting inventory price will go up as we are starting to see with Asheville Homes generally and banks are starting to stand stronger with on their asking price with Asheville foreclosures and REO’s.