Investor Turkey Shoot

By November 24, 2009Investing

A record-high 23,117 trustee sales are scheduled for sale Monday, November 30th,  in the ForeclosureRadar.com coverage area (CA, AZ, NV, WA, OR).

Because state laws do not allow trustee sales on state holidays, we expected to see a significant bump in sales Monday. However, the total number of trustee sales per day for the region is typically five to six thousand. To cover Thursday, Friday and Monday, the number of sales should reflect three days (15,000 – 18,000). In addition, trustee sales typically slow during the holidays and see a bump in January.

So it’s a little surprising to see four day’s worth of sales from a three-day period right after Thanksgiving. That being said, it doesn’t mean 23,117 families will lose their homes on Monday. Lately, ninety percent of trustee sales are just postponed to another day.

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  • Renee says:

    These numbers are staggering. Not a good way to start out the holiday season. Also ran into some good references to foreclosures at http://www.mattweidnerlaw.com.

  • Hi Sean, Helpful info, great site! Monday is absolutely going to be one of our busiest trustee sale calendars of the year. In addition, we’ve had record third party sales these past 2 weeks in California (mainly San Bernardino, Los Angeles and San Diego Co.’s)….draw your own conclusions. I will keep you posted and check back frequently.

  • Kat says:

    The numbers APPEAR staggering- but you are correct- 90% don’t actually go to sale so the auction date/schedule is mostly incorrect. Most of these are already delayed, and a few resolved, before the auction date. How does one determine the actual status before the sale since most will have changed status prior to standing at the courthouse steps. Is contacting the foreclosure trustee the best option? Priorityposting.com does not seem to have up-to-date info either.
    Thanks!

    • Kat – ForeclosureRadar is, of course, the best place to stay up-to-date. We are the only service that tracks all the postponements, cancellations and sales, across all trustees. 🙂

      Also note that both our site, and the trustee sites, like prioritypositing ARE up to date right now. Just because things will likely postpone does not mean that they already have. And regardless of what any website tells you the only way to know for sure is to attend the sale, as all announced postponements and cancellations are subject to change up and until they are called at the sale itself.

      Will certainly be a busy day tomorrow staying on top of all these sales.

    • Kat, Most of the trustee sales information is received just prior to the scheduled sales time. In addition, the sales crier (auctioneer) receives real time changes and updates via e-mail or phone while reading their cancellations, postponements and sales. Feel free to monitor the the trustees phone hotline or individual trustees websites (and foreclosureradar.com) as they are typically updated in a timely manner. Ultimately, the information cried on the courthouse steps is the best source of information.

  • Edward Marcel says:

    This is a staggering number – There will certainly be some excitement on the steps tomorrow! . . . BTW, I loved your Foreclosure Report Video from earlier this month; can’t wait to see the next one 🙂

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