The Foreclosure Report

The Foreclosure Report - April 2012

Foreclosure Activity Declines Hurting Investors

05/14/2012 -

April 2012 Foreclosure Starts declined across our coverage area wiping out the small gains in new foreclosure filings last month. In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from April 2011. Notice of Trustee Sale Filings, the start of Arizona's foreclosure process, are down 59.4 percent from the peak in March 2009, and down 8.0 percent year-over-year.

 

The Foreclosure Report - March 2012

Foreclosure Sales Continue to Plummet

04/12/2012 -

For the second month in a row we’ve seen a dramatic drop in the number of properties sold at foreclosure, or “trustee sale”, auctions. Foreclosure sales in California are down 16.7 percent from February to March 2012 and down 53.1 percent from March a year ago. A total of 86,487 sales were scheduled to occur in California, but of those 80.0 percent postponed, and 10.6 percent were cancelled, leaving just 8,392 that were actually sold.

 

The Foreclosure Report - February 2012

Foreclosure Activity Continues to Fall

03/12/2012 -

The "foreclosure wave" many predicted at the end of last year is beginning to look more like a drought, as foreclosure sales dropped significantly in February. Although sales to 3rd Parties, typically investors, were down month-over-month, as a percentage of all sales 3rd Parties purchased a record 37.6 percent of foreclosures, up from 20.3 percent a year earlier, and just 2.2 percent in February 2008.

 

The Foreclosure Report - January 2012

Trustee Sale Investors Kickoff the New Year with Near Record Activity

02/14/2012 -

Real Estate investors started off 2012 with a bang. Sales to Third Parties, typically investors rose significantly in January throughout our coverage area, with the exception of Washington. California saw the most activity, with investors purchasing 3,964 properties for $766.2 million. Note that trustee sale investors must pay in cash, in full, with no title insurance or inspections prior to purchase.

 

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.