Wednesday, April 13, 2011

Property Default Filings and California Foreclosures - March 2011

CA foreclosures 

Foreclosure sales rose 35.1% in California from February to March 2011 (possibly because of more calendar days in March than in February).

"Between government intervention, internal issues within the banks, and even simple deviations like the number of days in the month, it is easy to come to the wrong conclusions about foreclosure activity," says Sean O'Toole, CEO and Founder of ForeclosureRadar.com.  "The one thing that remains clear is that while the process has slowed, there remains no consensus on a viable solution other than foreclosure to eliminate the excess mortgage debt that has left millions underwater and continues to hinder the broader economy."

California during March 2011 - Notice of Default filings foreclosure filingsrose to their highest level since October 2010, up 17.3% month-over-month to 26,615 filings.

Notice of Trustee Sale filings fell for the third consecutive month, down 3.3% overall from February to March 2011.

Year-over-year March 2010 to March 2011 foreclosure filings were down in CA with Notice of Default filings falling 19.7% and Notice of Trustee Sale filings down 31% percent.  

foreclosure salesCalifornia foreclosure sales improved with sales Back to Bank (REO) up 28.6% (February to March) and properties sold to 3rd Parties (mostly to investors) up 61.5%.

The average time to foreclose in CA continues to go climb and is up 4.1% (Feb. to March) to 302 days, a significant 83.4% increase year-over-year.  This is a new record change.

See California foreclosure stats by state, county, city or ZIP - click here

See Orange County, CA, foreclosures and trends

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This is information from ForeclosureRadar.com and is not the providing of tax or legal services.  If you want to see a list of notice of trustee sale foreclosure homes for any city at Orange County, California, please contact and let us know.

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs® - also now serving as director at California Association of REALTORs®.

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Posted via email from Explore OC Homes

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