Foreclosure Report May 2012

    ForeclosureRadar Reports

    Foreclosure Activity Shows Mixed Results

    May 2012 Foreclosure activity was mixed with lenders more likely impacted by local market conditions than any overall trends. In Arizona, Foreclosure Sales were up 30.1 percent over last month but still down 39.2 percent vs. May 2011. In Oregon, Foreclosure Sales were down 21.3 percent over last month but flat vs. May 2011. In California, Foreclosure Sales were up 6.1 percent vs. the previous month, driven by Sales to 3rd parties that were up 14.0 percent. Nevada's Time to Foreclose is continuing to increase, up 9.4 percent to an all-time high of 464 days. This is due to the Foreclosure Fraud Reform Law (Assembly Bill 284) that went into effect October 1, 2011.

    In California, three Senate Bills under the Homeowner Bill of Rights are being actively debated by the legislature. While Senate Bill 1473, Senate Bill 1474, and Assembly Bill 1950 have already been passed, they should have little impact on foreclosure activity throughout the state. However, if passed, two of the three remaining bills (Senate Bill 1470 and Senate Bill 1471) will significantly impact the Foreclosure Marketplace.

    "I continue to find the push to "Stop" foreclosures, as we are currently seeing play out in the CA Legislature, ludicrous. The real problem is negative equity, and the only thing stopping foreclosures will accomplish is ensuring that we are stuck with the negative equity problem for far longer than necessary." stated Sean O'Toole, Founder & CEO of ForeclosureRadar. "I completely get why folks are mad at both the banks and the situation. However, stopping foreclosures will lead to a much longer economic recovery, increased blight, fewer jobs, lower property tax receipts, and fewer opportunities for new home buyers and investors. Please call your state representatives today and urge them to vote no on these measures."

    Arizona's Foreclosure Market

    Arizona Foreclosure Starts
    Arizona Foreclosure Sales
    Arizona Foreclosure Timeframes


    California's Foreclosure Market

    California Foreclosure Starts
    California Foreclosure Sales
    California Foreclosure Timeframes


    Nevada's Foreclosure Market

    Nevada Foreclosure Starts
    Nevada Foreclosure Sales
    Nevada Foreclosure Timeframes

    Oregon's Foreclosure Market

    Oregon Foreclosure Starts
    Arizona Foreclosure Sales
    Oregon Foreclosure Timeframes


    Washington's Foreclosure Market

    Washington Foreclosure Starts
    Oregon Foreclosure Sales
    Arizona Foreclosure Timeframes