About Us

ForeclosureRadar is revolutionizing California's foreclosure marketplace with the next generation of foreclosure services for investors and real estate professionals, including Realtors®, lenders, and attorneys. We begin this revolution as the first service to track every California foreclosure auction each and every day. To fully leverage this exclusive data, we have developed a comprehensive set of professionally designed tools for finding, evaluating and tracking every foreclosure in the state.

The Opportunity

The combination of over development and aggressive lending practices has set the stage for an unprecedented wave of foreclosures. In California alone, the default rate increased 45% from November to December of 2007, with nearly $13B in loans now entering foreclosure each month. This dramatic increase appears to be the direct result of the liquidity crisis that began in August of 2007, and is set to significantly increase foreclosure sales from their already record levels. To put current the current record levels into perspective, a total of 25,585 new and resale homes were sold statewide in December 2007, while 12,783 homes were lost at foreclosure auction. Of those 97% went back to the bank with no 3rd party bid despite significant discounts. In the worst areas foreclosures are adding an additional 6 months of housing inventory each month to inventories that are already too high.

While this is a difficult time, it also represents an unprecedented opportunity on many levels. All of these properties need to be resold either to new homeowners or to investors as rentals. All of the displaced homeowners need a new home. And everyone from government entities to major hedge funds need better data and insight to prepare for what still lies ahead, and to make sure the mistakes that led to this crisis never happen again.

About the Founder

ForeclosureRadar founder and principal, Sean O'Toole, nearly lost his first home to foreclosure almost 20 years ago. With the help of a local Realtor®, he was able to negotiate a short sale with the lender and move on, but it was a significant lesson. After a successful career as an entrepreneur and executive in the 90's high tech boom, Sean began investing in foreclosures in order to find a better work-life balance given the impending arrival of his son. Having just left the heart of Silicon Valley, it did not take him long to realize that the existing foreclosure data and tools available for managing his new foreclosure business were sorely lacking. Through the purchases of more than 150 foreclosures, ranging from $50,000 condominiums to multi-million dollar commercial properties, it also became clear to Sean that the need to address the inefficiencies in the foreclosure marketplace were long overdue. After pulling together a development team from his days in tech, Sean and his associates have created the company's initial product, ForeclosureRadar.com, as the first step towards his goal of revolutionizing the foreclosure marketplace.