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California Has Record $5 Billion In Foreclosure Sales In October
This month's sales result of missed payments in March 2007, yet to reflect mortgage liquidity debacle
11/15/2007
Discovery Bay, CA, November 15, 2007 - 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. A total of 12,336 properties - with a loan value of $5 Billion dollars, a 568 percent increase over the same period in 2006 - were sold at auction statewide in the month of October, compared to September which had a total of 8,818 with a value of $3.6 Billion dollars.
"We see no sign of a foreclosure peak at this point, and we don't expect to see one until the third or fourth quarter of 2008 at the earliest," said founder of ForeclosureRadar, Sean O'Toole. "The sales we are seeing now are from missed payments in March. So current auction sales really have not yet been impacted by either Augusts' liquidity crunch or the ARM reset peaks this month and again in March 08."
The October ForeclosureRadar report noted that notices of default were up 11.9 percent though on a daily average basis they were down 8 percent due to the limited recording days in September. Notices of sale were up 33.5 percent to 18,929 - a substantial increase from 14,000 in September and 13,500 in August. Sales were up 39.9 percent from September, and significantly up from August. The report also notes that third parties purchased 382 properties versus 11,953 that went back to the bank.
While defaults have been fairly flat, a far higher percentage of defaults are having notices of sale filed; and a higher percentage of notices of sale are resulting in auctions. Daily average sales went from $189 Million a day in September to $216 Million a day in October, a 13.8 percent increase.
| California Foreclosure Statistics By County | ||||||||
| Rank | Change In Rank | County | NDF | NTS | Sales | Population Per Sale |
% Change Sept 2007 |
% Change Oct 2006 |
| 1 | 4 | SAN JOAQUIN COUNTY | 1158 | 783 | 651 | 1,023 | 90% | 830% |
| 2 | 0 | RIVERSIDE COUNTY | 3297 | 2510 | 1635 | 1,195 | 29% | 510% |
| 3 | 49 | ALPINE COUNTY | ND | ND | 1 | 1,241 | NA | NA |
| 4 | -1 | STANISLAUS COUNTY | 815 | 531 | 406 | 1,267 | 47% | 712% |
| 5 | 1 | SACRAMENTO COUNTY | 1955 | 1390 | 1058 | 1,310 | 49% | 443% |
| 6 | -2 | MERCED COUNTY | 399 | 257 | 182 | 1,356 | 43% | 1300% |
| 7 | 0 | YUBA COUNTY | 104 | 64 | 51 | 1,369 | 59% | 325% |
| 8 | 2 | SOLANO COUNTY | 529 | 397 | 253 | 1,671 | 51% | 716% |
| 9 | -1 | SAN BERNARDINO COUNTY | 2435 | 1894 | 1160 | 1,717 | 34% | 766% |
| 10 | 2 | KERN COUNTY | 872 | 598 | 438 | 1,781 | 52% | 968% |
| 11 | -2 | CONTRA COSTA COUNTY | 1158 | 816 | 548 | 1,878 | 30% | 612% |
| 12 | 2 | PLACER COUNTY | 320 | 225 | 159 | 1,991 | 51% | 835% |
| 13 | 5 | MADERA COUNTY | 144 | 101 | 68 | 2,123 | 89% | 3300% |
| 14 | 2 | SAN BENITO COUNTY | 72 | 36 | 26 | 2,216 | 63% | 1200% |
| 15 | -4 | SUTTER COUNTY | 99 | 44 | 41 | 2,230 | 21% | 583% |
| 16 | -3 | LAKE COUNTY | 33 | 22 | 28 | 2,289 | 22% | 211% |
| 17 | -16 | MODOC COUNTY | 11 | ND | 4 | 2,459 | -71% | -50% |
| 18 | 10 | EL DORADO COUNTY | 120 | 108 | 69 | 2,554 | 123% | 475% |
| 19 | -2 | IMPERIAL COUNTY | 90 | 79 | 60 | 2,776 | 36% | 900% |
| 20 | 6 | YOLO COUNTY | 117 | 59 | 65 | 2,928 | 86% | 983% |
| 21 | 0 | FRESNO COUNTY | 705 | 488 | 306 | 2,940 | 55% | 646% |
| 22 | 0 | MONTEREY COUNTY | 301 | 172 | 135 | 3,147 | 53% | 1400% |
| 23 | 2 | ALAMEDA COUNTY | 728 | 485 | 441 | 3,404 | 55% | 549% |
| 24 | -4 | LASSEN COUNTY | ND | ND | 10 | 3,545 | 25% | 400% |
| 25 | -10 | TEHAMA COUNTY | 24 | 12 | 17 | 3,620 | -11% | 240% |
| 26 | -7 | SAN DIEGO COUNTY | 2092 | 1435 | 842 | 3,642 | 17% | 319% |
| 27 | -3 | VENTURA COUNTY | 536 | 364 | 223 | 3,665 | 39% | 758% |
| 28 | 7 | NAPA COUNTY | 87 | 47 | 33 | 4,074 | 94% | 560% |
| 29 | 0 | SANTA BARBARA COUNTY | 172 | 149 | 100 | 4,216 | 35% | 669% |
| 30 | -3 | AMADOR COUNTY | 21 | 20 | 9 | 4,237 | 29% | 800% |
| 31 | 1 | SONOMA COUNTY | 313 | 167 | 108 | 4,444 | 59% | 620% |
| 32 | 5 | NEVADA COUNTY | 40 | 45 | 22 | 4,548 | 120% | 340% |
| 33 | -3 | TULARE COUNTY | 233 | 144 | 91 | 4,622 | 36% | 333% |
| 34 | -1 | LOS ANGELES COUNTY | 5075 | 3636 | 1943 | 5,273 | 35% | 633% |
| 35 | 5 | SAN LUIS OBISPO COUNTY | 100 | 74 | 48 | 5,484 | 100% | 586% |
| 36 | -5 | SHASTA COUNTY | 100 | 56 | 33 | 5,499 | 22% | 94% |
| 37 | -3 | ORANGE COUNTY | 1412 | 946 | 558 | 5,506 | 34% | 541% |
| 38 | -2 | BUTTE COUNTY | 41 | 36 | 39 | 5,569 | 50% | 333% |
| 39 | 2 | KINGS COUNTY | 78 | 44 | 23 | 6,423 | 77% | 1050% |
| 40 | -1 | SANTA CRUZ COUNTY | 77 | 53 | 40 | 6,559 | 54% | 400% |
| 41 | 1 | SANTA CLARA COUNTY | 630 | 353 | 237 | 7,482 | 53% | 618% |
| 42 | 8 | CALAVERAS COUNTY | 16 | 7 | 6 | 7,619 | 500% | NA |
| 43 | -20 | TUOLUMNE COUNTY | 33 | 14 | 7 | 8,319 | -42% | 600% |
| 44 | 4 | GLENN COUNTY | ND | ND | 3 | 9,550 | 200% | 50% |
| 45 | -1 | SAN MATEO COUNTY | 201 | 112 | 72 | 10,057 | 18% | 500% |
| 46 | 10 | PLUMAS COUNTY | 10 | 11 | 2 | 10,722 | NA | NA |
| 47 | 4 | HUMBOLDT COUNTY | 33 | 24 | 10 | 13,253 | 400% | 233% |
| 48 | 7 | MONO COUNTY | 1 | ND | 1 | 13,597 | NA | NA |
| 49 | 9 | TRINITY COUNTY | 2 | ND | 1 | 14,024 | NA | NA |
| 50 | -5 | MARIN COUNTY | 64 | 22 | 17 | 14,902 | 6% | 240% |
| 51 | -8 | SISKIYOU COUNTY | 9 | 4 | 3 | 15,382 | -25% | 200% |
| 52 | -3 | SAN FRANCISCO COUNTY | 118 | 77 | 47 | 16,993 | 96% | 422% |
| 53 | -7 | MARIPOSA COUNTY | 5 | 3 | 1 | 18,216 | 0% | NA |
| 54 | -7 | COLUSA COUNTY | 17 | 5 | 1 | 21,512 | 0% | 0% |
| 55 | -17 | MENDOCINO COUNTY | 22 | 12 | 4 | 22,611 | -56% | 100% |
CALIFORNIA FORECLOSURE REPORT METHODOLOGY
Rankings are based on population per foreclosure sale. NDF indicates the number of Notices of Default that were filed at the county, and NTS indicates filed Notices of Trustee Sale. Sales indicates the number of properties sold at foreclosure auction. Percentage changes are based on monthly Sales. The data presented by ForeclosureRadar is based on county records and individual sales results from daily foreclosure auctions throughout the state—not estimates or projections.
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