The Foreclosure Report

The Foreclosure Report - December 2011

2011 Foreclosure Activity Ends With a Whimper

01/11/2012 -

Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announcements of holiday moratoriums. California and Washington actually saw modest increases. Also surprising was a drop in the time to foreclose across most states, since foreclosures typically get extended over the holidays.

 

The Foreclosure Report - November 2011

Foreclosure Sales Slow for the Holidays, While Lenders Prepare for 2012

12/12/2011 - It is not unusual to see foreclosures slow for the holidays, and the this year is no exception. Foreclosure starts were up slightly in Nevada and Washington, but the increases were insignificant given the recent declines in those states due to legislative changes and legal challenges. Foreclosure Sales rose only in Arizona, but that increase simply offset the drop seen in October and is still well below average monthly sales for the year there.
 

The Foreclosure Report - October 2011

Little Change in California, as Nevada and Washington Foreclosure Starts Plummet

11/14/2011 - Foreclosure Starts in California were little changed this month, after a dramatic increase in August and subsequent fall in September. Other California foreclosure activity was also little changed in October. California foreclosure investors gained traction with 9.9 percent more properties sold to third parties in October, representing a record 28.8 percent of all foreclosure sales. A year ago just 16.9 percent of foreclosures were purchased by third parties.
 

The Foreclosure Report - September 2011

After Big Jump in August, Foreclosure Starts Fall Again

10/11/2011 - After a significant jump in foreclosure starts in August, driven primarily by Bank of America, foreclosure starts returned to levels in line with prior months, far below the numbers reached at the peak. California has seen a drop in activity of 56 percent since its peak, from 58,623 Notice of Default filings in March of 2009 to 25,778 today. Arizona shows a similar swing in Notice of Trustee Sale filings, from 14,722 in March of 2009 to 5,982 filings last month - a decrease of 59.4 percent.
 

The Foreclosure Report - August 2011

Foreclosure Starts Driven Higher by Bank of America

09/13/2011 - Foreclosure filings and sales increase throughout most of our coverage are in August. Foreclosure starts jumped significantly, reversing what had been a declining trend over the past several months. Investors bought more properties on the courthouse steps in August than in July everywhere except in Washington. The number of properties Sold Back to Bank jumped significantly in Oregon, and also rose in California and Nevada.
 

The Foreclosure Report - July 2011

Foreclosure Filings Drop, as Activity on the Courthouse Steps Slows

08/11/2011 - Foreclosure filings decreased throughout our coverage area, continuing a trend we've seen over the course of several months. Activity on the courthouse steps was down from a month ago everywhere except in Washington where foreclosure sales rose significantly.
 

The Foreclosure Report - June 2011

Foreclosure Filings are Down as the Time to Foreclosure Speeds Up In Some States

07/12/2011 - On average it took less Time to Foreclose in California, Arizona and Nevada in June 2011, countering what has been a growing trend to extend the foreclosure process. The time to foreclose has increased on a year-over-year basis throughout our coverage area, with the largest increase seen in Nevada where it now takes on average 319 days to foreclose, up from 239 days a year ago. California saw the second most significant increase with the average time to foreclose at 317 days, up from 261 days a year ago.
 

The Foreclosure Report - May 2011

Time To Resell In May 2011 Improved for Investors

06/14/2011 - Third party investors resold the homes they previously purchased at auction at a faster pace throughout our coverage area. As the most sophisticated and motivated homesellers in the marketplace, these investors provide an important indicator as to the health of the entire housing market. While the statistic is encouraging, it's too early to tell whether it is a turning point from the otherwise recent downward trend within the housing market.
 

The Foreclosure Report - April 2011

Foreclosure filings decrease to lowest level in years, while foreclosure cancellations increase

05/17/2011 - Foreclosure activity slowed in April. Foreclosure filings were down in Arizona, California, Nevada and Washington, with Oregon being the sole exception where filings were up. California filings were down to levels not seen since late 2008, when governmental intervention caused a temporary but massive drop in activity. Foreclosure sales saw similar declines throughout our coverage area, except Washington. Notably, cancellations were up significantly across the board, leaving fewer propeties scheduled for trustee sale.
 

The Foreclosure Report - March 2011

Foreclosure Sales on the Rise, Time to Foreclose Taking Longer

04/12/2011 - Foreclosure sales rose dramatically in most of our coverage area, though much of the increase was due to March having more days than February. In California foreclosure sales increased 35.1 percent overall, but rose just 10.5 percent on a daily average basis. Nevada foreclosure sales, however, bounced back dramatically after falling in February, rising 109.5 percent even on a daily average basis.
 

The Foreclosure Report - February 2011

Foreclosure Filings and Sales Down, REO Inventory Flat

03/15/2011 - Foreclosure activity slowed significantly across the board in February with filings down in Arizona, California, Nevada, Oregon and Washington. Foreclosure sales saw a similar deep dip throughout our coverage area, a dramatic about face from the surge in sales seen in January. The declines are only partly due to February having fewer filing and trustee sale days than January, two fewer days in California and one less day in our other covered states.
 

The Foreclosure Report - January 2011

Increased foreclosure sales are seen on the courthouse steps

02/15/2011 - Foreclosure sales bounced back to levels not seen since robo-signing moratoriums went into effect last fall. With significant increases in Arizona, California, Nevada, Oregon and Washington; foreclosure sales rose both in terms of properties that went Back to the Bank and those Sold to Third Parties, typically investors.