This month's sales result of missed payments in March 2007, yet to reflect mortgage liquidity debacle
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
RankChange In RankCountyNDFNTSSalesPopulationPer Sale% ChangeSept 2007% ChangeOct 200614SAN JOAQUIN COUNTY11587836511,02390%830%20RIVERSIDE COUNTY3297251016351,19529%510%349ALPINE COUNTYNDND11,241NANA4-1STANISLAUS COUNTY8155314061,26747%712%51SACRAMENTO COUNTY1955139010581,31049%443%6-2MERCED COUNTY3992571821,35643%1300%70YUBA COUNTY10464511,36959%325%82SOLANO COUNTY5293972531,67151%716%9-1SAN BERNARDINO COUNTY2435189411601,71734%766%102KERN COUNTY8725984381,78152%968%11-2CONTRA COSTA COUNTY11588165481,87830%612%122PLACER COUNTY3202251591,99151%835%135MADERA COUNTY144101682,12389%3300%142SAN BENITO COUNTY7236262,21663%1200%15-4SUTTER COUNTY9944412,23021%583%16-3LAKE COUNTY3322282,28922%211%17-16MODOC COUNTY11ND42,459-71%-50%1810EL DORADO COUNTY120108692,554123%475%19-2IMPERIAL COUNTY9079602,77636%900%206YOLO COUNTY11759652,92886%983%210FRESNO COUNTY7054883062,94055%646%220MONTEREY COUNTY3011721353,14753%1400%232ALAMEDA COUNTY7284854413,40455%549%24-4LASSEN COUNTYNDND103,54525%400%25-10TEHAMA COUNTY2412173,620-11%240%26-7SAN DIEGO COUNTY209214358423,64217%319%27-3VENTURA COUNTY5363642233,66539%758%287NAPA COUNTY8747334,07494%560%290SANTA BARBARA COUNTY1721491004,21635%669%30-3AMADOR COUNTY212094,23729%800%311SONOMA COUNTY3131671084,44459%620%325NEVADA COUNTY4045224,548120%340%33-3TULARE COUNTY233144914,62236%333%34-1LOS ANGELES COUNTY5075363619435,27335%633%355SAN LUIS OBISPO COUNTY10074485,484100%586%36-5SHASTA COUNTY10056335,49922%94%37-3ORANGE COUNTY14129465585,50634%541%38-2BUTTE COUNTY4136395,56950%333%392KINGS COUNTY7844236,42377%1050%40-1SANTA CRUZ COUNTY7753406,55954%400%411SANTA CLARA COUNTY6303532377,48253%618%428CALAVERAS COUNTY16767,619500%NA43-20TUOLUMNE COUNTY331478,319-42%600%444GLENN COUNTYNDND39,550200%50%45-1SAN MATEO COUNTY2011127210,05718%500%4610PLUMAS COUNTY1011210,722NANA474HUMBOLDT COUNTY33241013,253400%233%487MONO COUNTY1ND113,597NANA499TRINITY COUNTY2ND114,024NANA50-5MARIN COUNTY64221714,9026%240%51-8SISKIYOU COUNTY94315,382-25%200%52-3SAN FRANCISCO COUNTY118774716,99396%422%53-7MARIPOSA COUNTY53118,2160%NA54-7COLUSA COUNTY175121,5120%0%55-17MENDOCINO COUNTY2212422,611-56%100%CALIFORNIA FORECLOSURE REPORT METHODOLOGYRankings 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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