The Law Office of Michael E. Ripley

Exceeding Expectations

Real estate values increased 5.4% in states with non-judicial foreclosure

As indicated in an article in USA Today (February 19, 2013), states with a faster foreclosure process are seeing sharper increases in home prices, as compared to states where foreclosures take longer.  In California, which allows non-judicial foreclosure, increases in home values were within the top seven states in the country.  Overall, real estate values increased 5.4% in the states that allowed non-judicial foreclosure, compared to 3.2% in the states that required judicial foreclosure.