ForeclosureRadar’s August California Foreclosure Report Shows Double-digit increase in Foreclosure Auction Sales Statewide: Up 10.4% Over July

California Realty Speculators walk away from $1.71 billion in mortgage loans statewide

Discovery Bay, CA, September 12, 2007 ForeclosureRadar™ California’s premier source for real-time distressed property investment data, issued its August 2007 CA foreclosure report showing that a total of 9,477 properties – with a total loan value of $3.86 Billion dollars – were sold at auction statewide, marking a 10.4 percent increase over July’s total foreclosure sales. Speculator owned properties (i.e. non-owner occupied properties) accounted for $1.71 Billion dollars of that total and represented 44.3 percent, or 4199 of the properties sold at foreclosure auctions.

“Many blame subprime lending for our current real estate crisis, but rampant speculation, even by those with great credit, played a leading role,” observed Sean O’Toole, Founder and CEO of ForeclosureRadar.com. “The subprime market took the first hit as those borrowers had the least to lose when they walked away. Now that nearly half of foreclosures represent non-owner occupied properties, it is clear that speculators are walking away too.”

Other highlights from ForeclosureRadar’s August Foreclosure Report include the fact that fully 90.3 percent of all foreclosure sales in California were for homes purchased or refinanced in 2005 and 2006. Of properties sold at auction, 95 percent went back to lenders – for a total of 9,015 properties with a loan value of $3.7 Billion dollars. Notices of Default, the first stage of the foreclosure process, rose by 16.3 percent in August to 26,563, and Notices of Trustee Sale, which set the auction date and time, fell by 2.2 percent to 12,896.

During August, Riverside County posted the state’s highest per capita foreclosure activity. The Inland Empire’s other county, San Bernardino, moved up just one spot to number 8, despite an 18.1% increase in foreclosure sales.

California Foreclosure Statistics By County

RankChange In RankCountyNDFNTSSalesPopulation
Per Sale
12RIVERSIDE COUNTY3420170412901,514
20SAN JOAQUIN COUNTY9834774081,633
34MODOC COUNTY7561,639
42STANISLAUS COUNTY7833662991,720
50SACRAMENTO COUNTY193410387971,739
6-5YUBA COUNTY10150381,838
74SOLANO COUNTY5342482102,014
81SAN BERNARDINO COUNTY267212839182,170
9-5MERCED COUNTY291961052,350
10-2CONTRA COSTA COUNTY11866054272,411
114SAN BENITO COUNTY3410232,506
120PLACER COUNTY2721571242,552
13-3LAKE COUNTY4916222,914
140SUTTER COUNTY8541312,950
152KERN COUNTY8234102622,977
16-3MADERA COUNTY9449433,358
1727TRINITY COUNTY3143,506
180SAN DIEGO COUNTY214711078683,533
19-3EL DORADO COUNTY11370483,671
200MONTEREY COUNTY2641271123,793
218AMADOR COUNTY2811103,813
2210SHASTA COUNTY10646434,221
232FRESNO COUNTY6402761924,685
24-1VENTURA COUNTY4562191625,045
25-6YOLO COUNTY11054365,287
2615PLUMAS COUNTY1245,361
27-5IMPERIAL COUNTY6628315,374
2825COLUSA COUNTY45,378
299TULARE COUNTY230110755,608
30-6SANTA BARBARA COUNTY204103745,698
312TUOLUMNE COUNTY318105,823
32-6ALAMEDA COUNTY9264092565,864
33-2ORANGE COUNTY14096815205,908
342SAN LUIS OBISPO COUNTY7944416,421
355NEVADA COUNTY6023156,671
36-8SONOMA COUNTY27891706,856
37-2LOS ANGELES COUNTY5197249214856,899
38-11BUTTE COUNTY7224317,007
399TEHAMA COUNTY301187,692
40-6NAPA COUNTY6338177,908
41-4CALAVERAS COUNTY59,142
42-3SANTA CRUZ COUNTY10534289,370
430SANTA CLARA COUNTY5972461869,534
44-23SISKIYOU COUNTY1810411,537
45-3SAN MATEO COUNTY158825912,273
463MARIN COUNTY56281814,075
47-2DEL NORTE COUNTY71214,598
482MENDOCINO COUNTY2815615,074
49-3KINGS COUNTY4527916,414
505INYO COUNTY118,515
510SAN FRANCISCO COUNTY95643224,959
52-5HUMBOLDT COUNTY254526,505
53NDGLENN COUNTY128,651
54NDLASSEN COUNTY135,452

CALIFORNIA FORECLOSURE REPORT METHODOLOGY
The Report’s Rankings were 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. 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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