June 2010 California Foreclosure Report

By July 14, 2010Foreclosure

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Highlights from this report:

  • Foreclosure filings where up in June after two months of decline
  • Foreclosure cancellations reached a record high of 21,962 in June, up 27.09% from May
  • The number of properties purchased by 3rd parties dropped by 23.73% since last month, but those properties bought were at the best margins in months
  • Fewer properties went back to the bank, down 23.73% from the prior month
  • Time-to-Foreclosure was flat month over month, but up 34.93% from June 2009
  • Time-to-Resell continued it’s slow ascent, up 5.95% for the banks and up 4.29% for 3rd parties

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No Comments

  • Sean,

    Great summary! As a short sale specialist team we have been busier than ever and are seeing the $1M+ homeowners that have not been able to modify, throw in the towel and agree to a short sale.

    2010 will prove to be an interesting year.

    Below is a link to a VERY compelling market update and whats in store for the next 12-24months.

    It will definitely help you be ahead of  the broader factors that are driving our real estate market and where its headed over the next 24-48months.

    Go ahead and fast forward to 5Min into the view the meat of the update