CALIFORNIA FORECLOSURE ACTIVITY DOWN 21 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Up 108 Percent From November 2006; Foreclosure Rate Ranks No. 5

 

IRVINE, Calif. – Dec. 19, 2007 – California reported 39,992 foreclosure filings in November, the tenth straight month the state has led the nation in total foreclosure filings. Although foreclosure activity declined 21 percent from the previous month, it was up 108 percent from November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 325 households ranked fifth highest among the 50 states.

 

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.

 

“Although we saw a substantial drop in California foreclosure activity in November, the Golden State still leads the nation in foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “Whether this is a momentary easing or the beginning of a slowing trend, it is too early to tell. Foreclosure activity is still high statewide and home sales remain flat as inventories of unsold housing continue to grow.

 

Even with slower activity in November, the Golden State still led the nation by a significant margin, outdistancing second place Florida by more than 10,000 foreclosure filings, and third place Ohio by more than 23,000 foreclosure filings. Texas and Michigan reported the fourth and fifth highest totals in the nation respectively, each reporting more than 11,000 foreclosure filings for the month. The remaining states in the nation’s top 10 for total foreclosure filings in November were Georgia, Illinois, Nevada, Colorado and New York.

 

Southern California counties dominate in foreclosure total for November

Four out of five counties with the highest total foreclosure filings for November were in Southern California. Los Angeles County led the way, reporting 6,654 foreclosure filings.

 

Riverside County came in second, reporting 4,399 foreclosure filings. Sacramento County had the third highest total, with 3,354 foreclosure filings. California’s fourth highest foreclosure total was reported in San Bernardino County, with 3,272 foreclosure filings, followed by fifth place San Diego County, with 2,990 filings entering some stage of the foreclosure pipeline. In all, the top five counties accounted for 52 percent of all filings in the state for the month.

 

Four of five top foreclosure rates for the month posted in Northern California

Four Northern California counties registered foreclosure rates among the top five in the state for November. The state’s highest foreclosure rate was posted in San Joaquin County, one foreclosure filing for every 99 households — 6.2 times the national average. Stanislaus County posted the second highest foreclosure rate, one foreclosure filing for every 104 households — nearly six times the national average. Merced County posted the third highest foreclosure rate, one foreclosure filing for every 106 households — 5.8 times the national average. The state’s fourth highest county rate was posted in Solano County, with one foreclosure filing for every 145 households — 4.3 times the national average. Sacramento County came in with the state’s fifth highest foreclosure rate, one foreclosure filing for every 157 households — nearly four times the national average.

 

State the largest single contributor to nation’s monthly total

Total foreclosure filings in California accounted for almost 20 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represented a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per  Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

California

22,634

9,099

0

0

8,259

39,992

325

1.898

n/a

 

 

 

 

 

 

 

 

 

Alameda

793

278

0

0

287

1,358

410

1.50

0.79

Alpine

0

0

0

0

0

0

n/a

0.00

0.00

Amador

14

4

0

0

1

19

881

0.70

0.36

Butte

42

6

0

0

10

58

1,589

0.38

0.20

Calaveras

20

2

0

0

5

27

958

0.64

0.33

Colusa

12

1

0

0

1

14

518

1.19

0.62

Contra Costa

1,247

615

0

0

512

2,374

161

3.81

2.01

Del Norte

4

3

0

0

0

7

1,553

0.39

0.20

El Dorado

134

37

0

0

60

231

348

1.77

0.93

Fresno

619

243

0

0

140

1,002

292

2.11

1.11

Glenn

0

0

0

0

0

0

n/a

0.00

0.00

Humboldt

30

9

0

0

1

40

1454

0.42

0.22

Imperial

71

30

0

0

19

120

412

1.49

0.78

Inyo

5

0

0

0

1

6

1,512

0.40

0.21

Kern

790

298

0

0

145

1,233

206

2.99

1.57

Kings

59

22

0

0

17

98

408

1.50

0.79

Lake

42

30

0

0

8

80

425

1.44

0.76

Lassen

6

2

0

0

3

11

1,143

0.53

0.28

Los Angeles

3,399

1,682

0

0

1,573

6,654

502

1.22

0.64

Madera

116

26

0

0

10

152

299

2.05

1.08

Marin

62

33

0

0

16

111

968

0.63

0.33

Mariposa

8

2

0

0

0

10

948

0.65

0.34

Mendocino

16

1

0

0

5

22

1,746

0.35

0.18

Merced

439

104

0

0

186

729

106

5.79

3.05

Modoc

1

0

0

0

0

1

4,809

0.12

0.06

Mono

3

0

0

0

0

3

4,287

0.14

0.07

Monterey

298

50

0

0

37

385

357

1.72

0.90

Napa

70

11

0

0

10

91

573

1.07

0.56

Nevada

42

16

0

0

9

67

724

0.85

0.44

Orange

972

414

0

0

316

1,702

598

1.03

0.54

Placer

233

117

0

0

141

491

279

2.20

1.16

Plumas

8

1

0

0

1

10

1,443

0.42

0.22

Riverside

2,302

1,075

0

0

1,022

4,399

159

3.87

2.04

Sacramento

1,967

612

0

0

775

3,354

157

3.91

2.06

San Benito

74

13

0

0

1

88

201

3.06

1.61

San Bernardino

1,556

877

0

0

839

3,272

200

3.09

1.62

San Diego

1,858

902

0

0

230

2,990

372

1.65

0.87

San Francisco

164

63

0

0

25

252

1,409

0.43

0.23

San Joaquin

1,283

254

0

0

669

2,206

99

6.23

3.28

San Luis Obispo

76

28

0

0

10

114

983

0.62

0.33

San Mateo

244

124

0

0

66

434

613

1.00

0.53

Santa Barbara

90

28

0

0

22

140

1,072

0.57

0.30

Santa Clara

734

190

0

0

270

1,194

507

1.21

0.64

Santa Cruz

93

19

0

0

11

123

827

0.74

0.39

Shasta

77

14

0

0

6

97

765

0.80

0.42

Sierra

0

0

0

0

0

0

n/a

0.00

0.00

Siskiyou

8

5

0

0

3

16

1,436

0.42

0.22

Solano

555

199

0

0

260

1,014

145

4.26

2.24

Sonoma

233

47

0

0

27

307

630

0.97

0.51

Stanislaus

889

337

0

0

386

1,612

104

5.94

3.13

Sutter

99

13

0

0

16

128

248

2.48

1.31

Tehama

19

4

0

0

4

27

934

0.66

0.34

Trinity

2

1

0

0

0

3

2,731

0.22

0.11

Tulare

231

91

0

0

39

361

358

1.72

0.90

Tuolumne

17

10

0

0

1

28

1,066

0.57

0.30

Ventura

293

102

0

0

31

426

626

0.98

0.51

Yolo

124

35

0

0

18

177

390

1.57

0.83

Yuba

91

19

0

0

14

124

205

3.00

1.58

 

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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