California Foreclosure Report
April Foreclosure Notices Drop From March Record Levels
In a reversal from the prior month, foreclosure notices dropped while foreclosure sales rose. Sales at auction rose by 35 percent overall and a record number of those properties were purchased by third parties at an average 28 percent discount from estimated market value.
Government intervention continues to play havoc in foreclosure market
Notices of Default, the first step in the foreclosure process, reached a record level — nearly 26 percent higher than the previous historic peak in April 2008.
Notices of Default and Properties Sold at Auction Continue to Rise in February
The average difference between current market value and outstanding loan amount exceeded $200,000 for properties sold at foreclosure auction in February.
Auction investment opportunities continue to increase
January brought an unexpected, across the board drop, in the total Notices of Default, Notices of Trustee Sale, and sales at auction, not only from the prior month, but year over year as well.
California State Senate Bill 1137 fails to reduce foreclosures
Notices of Default have rebounded from the stall caused by California State Senate Bill 1137, which temporarily slowed foreclosures by imposing new requirements on lenders.
Holiday schedules likely to moderate foreclosure increases through December
Despite the clear impact that State Senate Bill 1137 had on foreclosure activity in September and October, November saw significant activity increases across all stages of foreclosure.
Loan modification activity forestalls impact of negative equity
Foreclosure sales dropped by 39.1 percent from the prior month, due to significant increases in cancellations and postponements. Under California law, scheduled foreclosure sales can be postponed for a period of up to one year, until they are either cancelled or sold.
California State Senate Bill 1137 takes effect, dramatically impacting foreclosure filings
Notice of Default filings, which indicate the start of the foreclosure process, fell 61.8 percent in September due primarily to new legislation that went into effect on September 8th. California State Senate Bill 1137 imposes significant new requirements on lenders prior to filing for foreclosure, and the drop indicates that the lenders were not ready for the impact.
Foreclosure delays may be behind current peak in foreclosure activity
Analysis show that Notices of Default, which indicate the start of the foreclosure process, increased in California by 4.8 percent; while both Notices of Trustee Sale and actual foreclosure sales dropped. With the exception of February, a traditionally slow month, Notices of Default have stayed in a tight range...
Lenders take a record $12.55 Billion in loans to foreclosure auction
Sales at foreclosure auction jumped dramatically in July, increasing by more than $2 Billion in combined loan value to $12.55 Billion. This represents more than 1,300 properties being taken to auction per business day, up from 415 per day one year ago.
Percent of foreclosures that result in home loss continues to worsen
Noted in the report was a minor decrease in the number of homeowners entering the foreclosure process. This marked the fourth month new Notices of Default remained essentially level.
Investor activity increases at the courthouse steps
Lenders, technically called the beneficiary or "bene" by foreclosure auctioneers, took back $10.4 Billion in California loans as a result of foreclosure sales in May. Despite this record we saw a significant increase in investor purchases at auction.
April a Record Month for California Foreclosure Activity
April foreclosure numbers were up in all categories, creating extraordinary indicators. Average daily auction sales exceeded 1,000 properties a day for the first time in California's history.
March sees record levels of California foreclosure filings
March data indicates California's foreclosure crisis is accelerating and suggests that the normalization of the state's real estate market is still far from complete.
Foreclosures Drop In February
Statewide foreclosure rates declined in February, even on a daily average basis. Foreclosure sales at auction declined 15 percent to 16,931 sales with a combined loan value of $6.85 Billion.
As many as 80 percent of defaulting homeowners may lose their home at auction
The number of properties sold at foreclosure auction jumped by 55 percent in January to a total of 19,821, with a combined loan value of $8.06 Billion. Compared to the same period one year ago, this represents a staggering 454 percent increase.
January auction sales skyrocketing
The number of NOD in December was 32,948 compared to 22,665 in November. December auction sales increased by 4.1 percent from November, to a total of 12,783 properties with a loan value of $5.18 Billion dollars. Additionally, a total of 9,001 properties have been sold at auction in just the first eight business days of January, with daily average sales 76 percent higher than in December.
ForeclosureRadar™, the only web site that tracks every California foreclosure with daily updates on foreclosure auctions, issued its monthly California Foreclosure Report today which showed a total of 12,282 properties with a loan value of $4.91 Billion dollars sold at auction in November. This was a 432 percent increase over the same period in 2006, and a slight reduction compared to October which had a total of 12,336 with a value of $4.968 Billion dollars.
ForeclosureRadar™, the only web site that tracks every California foreclosure with daily updates on foreclosure auctions, issued its monthly California Foreclosure Report today which showed October foreclosure sales increased by 40 percent from September.
ForeclosureRadar™, the only web site that tracks every California foreclosure with daily updates on foreclosure auctions, issued its monthly California Foreclosure Report today which showed increased foreclosure activity in September in spite of the story the numbers tell.
ForeclosureRadar™ California's premier source for real-time distressed property investment data, issued its August 2007 CA foreclosure report showing that a total of 9,477 properties - with a total loan value of $3.86 Billion dollars - were sold at auction statewide, marking a 10.4 percent increase over July's total foreclosure sales.
ForeclosureRadar™ today released its July, 2007 California Foreclosure Report, showing a total of 8,716 homes sold at auction in July with a loan value of $3.5 Billion dollars, a 24.6 percent increase over June.
In First Half Of 2007: Up 95% From January To June
ForeclosureRadar™ today released its June 2007 California Foreclosure Report. This unique monthly report includes previously unavailable auction sales data providing a far more timely and accurate picture of California's foreclosure marketplace.
ForeclosureRadar, a foreclosure listings and software company, today announced that 5,316 California foreclosures were sold at auction in March reaching nearly $2 Billion in total loan value. This represents a 27% increase from February and a 264% increase in the last 6 month. Of those sold in March 4,796 went back to the lender after receiving no bids, totaling $1.82 Billion, and underscoring the growing subprime lender collapse.
ForeclosureRadar™, a startup company with unique insight into the foreclosure marketplace, today announced that foreclosure statistics widely being reported in the media grossly understate actual foreclosure sales activity. The company is the only foreclosure listing service that currently tracks every foreclosure auction in California daily, giving them unprecedented visibility into foreclosure trends on a statewide basis.
ForeclosureRadar has developed the most comprehensive set of professionally-designed tools for finding, evaluating and tracking the most lucrative foreclosure opportunities.
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