CALIFORNIA FORECLOSURE ACTIVITY DECLINES 2 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Skyrockets 287 Percent From June 2006; Foreclosure Rate in Top 3

 

IRVINE, Calif. – July 31, 2007 – For the sixth straight month California led the nation in foreclosure activity, reporting 38,801 foreclosure filings in June, down 2 percent from the previous month but more than triple the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state also posted the second highest foreclosure rate in the nation, one foreclosure filing for every 315 households — 2.2 times the national average.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Despite June’s slight decline, California has held a substantial lead in foreclosure activity over all other states every month so far in 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “This is not surprising since the state has the largest population and the most households of any state in the nation. In this current buyer’s market, home sales volume is  down in many parts of the state as is home price appreciation. Both are bad signs for people trying to sell their way out of foreclosure.”

 

Even with the nation’s second highest total, Florida lagged behind California by more than 17,000 foreclosure filings in June. Third place Ohio reported nearly 27,000 fewer foreclosure filings, and fourth place Michigan had 28,700 fewer filings than California for the month. Texas ended up in fifth place with 30,000 fewer foreclosure filings. The remaining states in the nation’s top 10 for total foreclosures in June were Georgia, Illinois, Arizona, Colorado and New Jersey.

 

Los Angeles County continues to lead state in foreclosure activity

Reporting 9,035 foreclosure filings in June, Los Angeles County’s total was double the next nearest county total. Neighboring Riverside County came in second, with 4,500 filings for the month. Third highest total was reported in San Bernardino County, with 4,311 foreclosure filings, followed by Sacramento County, with 3,455 filings for the month. San Diego County rounded out the state’s top five county totals with 2,564 filings entering some stage of the foreclosure pipeline. The top five counties accounted for 62 percent of all foreclosure filings in the state for June.

 

Highest foreclosure rate reported in San Joaquin County

For the third straight month San Joaquin County posted the highest county foreclosure rate in the state, one foreclosure filing for every 103 households — 3.1 times the state average and 6.9 times the national average. Merced County posted the second highest foreclosure rate in the state, one foreclosure filing for every 121 households — 2.6 times the state average and 5.8 times the national average. Third highest foreclosure rate was reported in Riverside County, one foreclosure filing for every 130 households — 2.4 times the state average and 5.4 times the national average. Stanislaus County posted the fourth highest county foreclosure rate, one foreclosure filing for every 131 households. Sacramento County rounded out the state’s top five with a rate of one foreclosure filing for every 137 households.

 

State the largest contributor to national total

Total foreclosure filings in California accounted for nearly 24 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                           California Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

California

27,483

7,082

0

0

4,236

38,801

315

2.24

n/a

 

 

 

 

 

 

 

 

 

 

Alameda

1,048

150

0

0

29

1,227

440

1.60

0.72

Amador

9

3

0

0

4

16

940

0.75

0.34

Butte

48

11

0

0

4

63

1,358

0.52

0.23

Calaveras

18

0

0

0

4

22

1,043

0.67

0.30

Colusa

6

2

0

0

1

9

753

0.94

0.42

Contra Costa

1,046

408

0

0

341

1,795

198

3.56

1.59

Del Norte

2

0

0

0

0

2

5,217

0.13

0.06

El Dorado

98

37

0

0

25

160

445

1.58

0.71

Fresno

916

167

0

0

105

1,188

228

3.09

1.38

Glenn

4

2

0

0

0

6

1,664

0.42

0.19

Humboldt

13

2

0

0

0

15

3,727

0.19

0.08

Imperial

95

28

0

0

13

136

323

2.18

0.98

Inyo

0

0

0

0

0

0

n/a

0.00

0.00

Kern

580

234

0

0

125

939

247

2.85

1.28

Kings

24

5

0

0

1

30

1,219

0.58

0.26

Lake

18

3

0

0

4

25

1,301

0.54

0.24

Lassen

4

3

0

0

1

8

1,500

0.47

0.21

Los Angeles

6,177

2,136

0

0

722

9,035

362

1.94

0.87

Madera

48

8

0

0

7

63

641

1.10

0.49

Marin

31

6

0

0

3

40

2,625

0.27

0.12

Mariposa

4

1

0

0

0

5

1,765

0.40

0.18

Mendocino

9

3

0

0

3

15

2,462

0.29

0.13

Merced

360

108

0

0

96

564

121

5.81

2.60

Modoc

0

1

0

0

0

1

4,807

0.15

0.07

Mono

0

0

0

0

0

0

n/a

0.00

0.00

Monterey

122

27

0

0

12

161

818

0.86

0.38

Napa

38

10

0

0

3

51

952

0.74

0.33

Nevada

24

2

0

0

0

26

1,703

0.41

0.18

Orange

1,308

269

0

0

70

1,647

589

1.20

0.53

Placer

319

114

0

0

79

512

210

3.36

1.50

Riverside

3,406

891

0

0

203

4,500

130

5.42

2.42

Sacramento

2,241

434

0

0

780

3,455

137

5.12

2.29

San Benito

15

13

0

0

1

29

569

1.24

0.55

San Bernardino

3,085

592

0

0

634

4,311

139

5.05

2.26

San Diego

2,178

243

0

0

143

2,564

406

1.74

0.78

San Francisco

105

49

0

0

5

159

2,179

0.32

0.14

San Joaquin

1,283

293

0

0

265

1,841

103

6.85

3.06

San Luis Obispo

53

14

0

0

6

73

1,401

0.50

0.22

San Mateo

93

40

0

0

17

150

1,737

0.41

0.18

Santa Barbara

84

17

0

0

8

109

1,311

0.54

0.24

Santa Clara

334

90

0

0

78

502

1,154

0.61

0.27

Santa Cruz

30

2

0

0

4

36

2,746

0.26

0.11

Shasta

55

10

0

0

0

65

1,059

0.66

0.30

Siskiyou

3

0

0

0

1

4

5,487

0.13

0.06

Solano

557

216

0

0

132

905

149

4.74

2.12

Sonoma

131

42

0

0

16

189

969

0.73

0.32

Stanislaus

704

221

0

0

230

1,155

131

5.39

2.41

Sutter

38

12

0

0

3

53

534

1.32

0.59

Tehama

11

4

0

0

1

16

1,472

0.48

0.21

Trinity

0

0

0

0

0

0

n/a

0.00

0.00

Tulare

213

67

0

0

28

308

388

1.81

0.81

Tuolumne

13

2

0

0

0

15

1,889

0.37

0.17

Ventura

388

72

0

0

22

482

522

1.35

0.60

Yolo

44

10

0

0

2

56

1,100

0.64

0.29

Yuba

50

8

0

0

5

63

359

1.96

0.88

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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