January Auction Sales Skyrocketing
Discovery Bay, CA, January 15, 2008 - ForeclosureRadar™, the only web site that tracks every California foreclosure with daily updates on foreclosure auctions, issued its monthly California Foreclosure Report today which tracks foreclosure statistics throughout the state. The report noted a substantial month-to-month 45.4 percent jump in the notices of default (NOD), the initial notice that a homeowner receives once they fail to pay their mortgage. The number of NOD in December was 32,948 compared to 22,665 in November. December auction sales increased by 4.1 percent from November, to a total of 12,783 properties with a loan value of $5.18 Billion dollars. Additionally, a total of 9,001 properties have been sold at auction in just the first eight business days of January, with daily average sales 76 percent higher than in December."The impact of the credit crisis that began in August is now clearly starting to show its impact," said ForeclosureRadar founder Sean O'Toole. "Many analysts fail to understand the delays inherent in the foreclosure process, and I believe we have yet to see the real impact from the ARM resets that began in earnest last October."The majority of loans going to auction continue to have been originally made in 2006 (52 percent), 2005 (34 percent), 2007 (8 percent) and 2004 (5.4 percent). At the county level notable month over month increases in activity were seen in Riverside, San Bernardino, San Diego, Ventura, Orange, Los Angeles, Santa Cruz, Marin and San Francisco counties.
ForeclosureRadar December Report by County
RankChange In RankCountyNDFNTSSalesPopulationPer Sale% ChangeNov 2007% ChangeDec 200615RIVERSIDE COUNTY4488288118381,06316%547%255MODOC COUNTY4591,093ND80%3-2MERCED COUNTY3732262151,148-15%1244%4-2SAN JOAQUIN COUNTY14029035421,229-18%496%50STANISLAUS COUNTY10335863811,350-9%469%6-3SACRAMENTO COUNTY214515529721,426-14%290%7-3YUBA COUNTY10692481,455-16%269%83SAN BERNARDINO COUNTY3210215113131,51722%621%9-2SOLANO COUNTY6464152521,678-20%500%100SAN BENITO COUNTY5821311,859-6%675%114LAKE COUNTYNDND341,88517%278%12-4CONTRA COSTA COUNTY13768525261,957-20%406%13-4KERN COUNTY10396303961,969-17%377%14-1MADERA COUNTY16892562,579-18%522%15-1SUTTER COUNTY8359352,613-17%192%1611SAN DIEGO COUNTY2750165510962,79838%328%17-5PLACER COUNTY3192111102,877-28%267%18-1MONTEREY COUNTY4272161432,971-16%694%190FRESNO COUNTY7585052993,008-10%612%208YOLO COUNTY130109593,22620%743%2110TEHAMA COUNTYNDND193,23936%280%22-2IMPERIAL COUNTY15789503,332-18%525%237VENTURA COUNTY6323912193,73217%544%24-2ALAMEDA COUNTY10756273684,080-14%318%25-7EL DORADO COUNTY14771434,098-37%291%266SHASTA COUNTY10560444,12513%175%2712AMADOR COUNTY232194,23750%200%28-7SONOMA COUNTY3071811134,247-23%391%294SANTA BARBARA COUNTY256170974,3479%385%30-1TULARE COUNTY319180924,572-15%300%316ORANGE COUNTY194110906434,77818%469%326LOS ANGELES COUNTY6031381121384,79229%463%33-7NEVADA COUNTY6724205,003-23%233%34-10TUOLUMNE COUNTY2718115,294-31%120%3515COLUSA COUNTY22445,378300%ND36-11NAPA COUNTY7442235,845-34%2200%378SANTA CRUZ COUNTY13574445,96376%1367%38-4SAN LUIS OBISPO COUNTY13869396,750-29%200%392SANTA CLARA COUNTY8024152616,79410%383%40-5BUTTE COUNTY6841317,007-26%121%41-25PLUMAS COUNTY10637,148-67%200%4211DEL NORTE COUNTY1347,299ND300%43-7KINGS COUNTY4738197,775-30%217%44-1MARIPOSA COUNTY6329,1080%ND456MENDOCINO COUNTY2718910,049125%350%46-2SAN MATEO COUNTY1851216411,314-14%205%472MARIN COUNTY88461913,33458%280%48-2MONO COUNTYNDND113,5970%ND499TRINITY COUNTY32114,024ND0%50-8SISKIYOU COUNTY198315,382-50%200%51-4CALAVERAS COUNTY251222,856-33%ND520SAN FRANCISCO COUNTY145813324,20218%230%53-30GLENN COUNTYNDND128,651-88%0%54-14HUMBOLDT COUNTY3220344,175-84%0%
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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