California Foreclosure Sales Reach $12 Billion

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July 11, 2007
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In First Half Of 2007: Up 95% From January To June

Discovery Bay, CA, July 10, 2007 - 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 is the first statewide foreclosure information service to track each and every foreclosure auction throughout the state on a daily basis. Other foreclosure listing services rely primarily on documents recorded at the county which delays the reporting of actual foreclosure sales trends by weeks or even months.A total of 6,960 homes were sold at auction in June with a loan value of $2.83 Billion dollars in California. Riverside County had the highest number of foreclosure sales at 1,093 properties and $523M in loan value. Los Angeles County was second in terms of volume, but after adjusting for population, ranked 34th in the State. Yuba, Sacramento and San Joaquin Counties ranked 2nd, 3rd and 4th highest respectively with Marin County having the lowest foreclosure rate in California. Foreclosures now represent 16% of all new and resale home sales in the state.According to ForeclosureRadar founder Sean O'Toole, "Lenders are building a significant REO inventory. Since January 1, 2007, a total of 29,696 California properties have been returned to the lender for an astonishing total loan value of $12 Billion dollars. This is unprecedented." In June alone 6,552 properties were returned to the lender for a total of $2.69 Billion dollars.

California Foreclosure Statistics By County

RankCountyNDFNTSSalesPopulation Per Sale1RIVERSIDE239233710931,7872YUBA7138312,2523SACRAMENTO13677826132,2604SAN JOAQUIN6603892902,2975STANISLAUS4752902032,5346SUTTER6446322,8587MERCED15358842,9388CONTRA COSTA8334233373,0559LAKE2327203,20510SAN BERNADINO18629596093,27111SOLANO3291811293,27812KERN4972672243,48213PLACER236133724,39614SAN DIEGO15979486554,68215EL DORADO8956374,76216YOLO8846375,14417IMPERIAL4321325,20618FRESNO5722181645,48519MONTEREY185134735,82020SHASTA7245296,25821ALAMEDA3051552256,67222PLUMAS0137,14823COLUSA0037,17124SAN BENITO0087,20325MADERA8943207,22026AMADOR11557,62727TULARE16291557,64828SONOMA15590617,86829SANTA BARBARA14687537,95530VENTURA3921881018,09331SAN LUIS OBISPO7738328,22632NEVADA4417128,33933MARIPOSA0029,10834LOS ANGELES3898209110559,71135MODOC0319,83636BUTTE4018229,87337ORANGE10685753119,87938TUOLUMNE188511,64639NAPA48201112,22240SANTA CRUZ43342112,49341TRINITY02114,02442KINGS38221014,77343MENDOCINO2313615,07444SANTA CLARA4511779518,66645TEHAMA00320,51146HUMBOLDT148622,08847SAN MATEO111613222,62848CALAVERAS72222,85649SISKIYOU69223,07350DEL NORTE23129,19651SAN FRANCISCO99412630,71852MARIN3723642,224Rank based on population per foreclosure sale. NDF indicates the number of Notices of Default that were filed at the county and NTS indicated filed Notices of Trustee Sale. Sales indicates the number of properties sold at foreclosure auction.About ForeclosureRadar.comForeclosureRadar offers investors and real estate professionals an unmatched set of tools for finding, tracking, managing and analyzing foreclosures.

Written by:
Written on:
July 11, 2007
Category:
Not Categorized