CALIFORNIA FORECLOSURE ACTIVITY FLAT IN JULY

State Activity Up 153 Percent From a Year Ago; Level Ranks Third in the Nation

 

IRVINE, Calif. – AUGUST 11, 2006 – California had the third highest foreclosure total in the nation for July, reporting 10,025 properties entering some stage of the foreclosure process, virtually no change in activity from the 10,031 properties reported in June. Nevertheless, the current activity level is still 153 percent above the 3,964 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“With the largest population of any state in the country it is not surprising that California is consistently in the top three states with the highest foreclosure activity levels,” said James J. Saccacio, chief executive officer of RealtyTrac. “Higher energy costs and interest rates, combined with a softening housing market, are beginning to take their toll on homeowners, which could at least partially explain the large increase in activity from July 2005.”

 

California‘s total was only a little more than 700 foreclosures lower than Florida, which reported the nation’s second most foreclosures for the month. However, the state total was more than 3,000 foreclosures lower than national leader Texas.  Reporting one new foreclosure filing for every 1,218 households — on par with the national average — the state posted the 15th highest foreclosure rate in the country for July.

 

Los Angeles, San Diego, Riverside counties tops in foreclosure activity

Three counties accounted for 42 percent of all foreclosures in California for July. Los Angeles County posted the highest total for the month, reporting 2,079 properties entering some stage of the foreclosure process. San Diego County had the second highest total, reporting 1,128 properties entering some stage of the foreclosure process, followed by Riverside County reporting 1,004 properties in the process. Other significant totals were reported in San Bernardino County with 923 properties and Sacramento County reporting 831 properties in the foreclosure pipeline.

 

Highest foreclosure rate reported in Sacramento County

Sacramento County reported one new foreclosure filing for every 571 households — 2.1 times the state average and 2.2 times the national average — the highest foreclosure rate in the state for July. Riverside County posted the state’s second highest rate, reporting one new foreclosure filing for every 582 households — 2.1 times the state average and 2.1 times the national average. Other significant foreclosure rates were reported in San Joaquin, Stanislaus and Del Norte counties.

 

California makes significant contribution to national total

California foreclosures accounted for almost 11 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                      California Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

California

8,664

1,228

0

0

133

10,025

1,218

1.02

 

 

 

 

 

 

 

 

 

 

Alameda

365

74

0

0

8

447

1208

1.03

1.01

Amador

11

2

0

0

3

16

940

1.33

1.30

Butte

44

9

0

0

1

54

1584

0.79

0.77

Calaveras

8

0

0

0

0

8

2868

0.43

0.42

Colusa

3

0

0

0

0

3

2258

0.55

0.54

Contra Costa

348

58

0

0

2

408

869

1.43

1.40

Del Norte

3

1

0

0

12

16

652

1.91

1.87

El Dorado

50

8

0

0

1

59

1208

1.03

1.01

Fresno

247

44

0

0

1

292

927

1.34

1.31

Glenn

2

1

0

0

0

3

3327

0.37

0.37

Humboldt

13

4

0

0

1

18

3106

0.40

0.39

Imperial

1

0

0

0

0

1

43891

0.03

0.03

Kern

111

11

0

0

2

124

1867

0.67

0.65

Kings

16

8

0

0

0

24

1523

0.82

0.80

Lake

14

0

0

0

0

14

2323

0.54

0.52

Lassen

4

0

0

0

1

5

2400

0.52

0.51

Los Angeles

1,792

265

0

0

22

2,079

1573

0.79

0.77

Madera

38

11

0

0

1

50

808

1.54

1.51

Marin

22

1

0

0

0

23

4565

0.27

0.27

Mariposa

2

0

0

0

0

2

4413

0.28

0.28

Mendocino

6

5

0

0

0

11

3358

0.37

0.36

Merced

79

2

0

0

2

83

824

1.51

1.48

Modoc

1

1

0

0

0

2

2404

0.52

0.51

Mono

0

0

0

0

0

0

0.00

0.00

Monterey

38

5

0

0

0

43

3051

0.41

0.40

Napa

8

2

0

0

0

10

4855

0.26

0.25

Nevada

14

2

0

0

3

19

2331

0.53

0.52

Orange

549

34

0

0

3

586

1654

0.75

0.74

Placer

132

15

0

0

4

151

711

1.75

1.71

Plumas

1

0

0

0

0

1

13386

0.09

0.09

Riverside

897

89

0

0

18

1,004

582

2.14

2.09

Sacramento

712

112

0

0

7

831

571

2.18

2.13

San Benito

15

0

0

0

1

16

1031

1.21

1.18

San Bernardino

853

61

0

0

9

923

652

1.91

1.87

San Diego

947

167

0

0

14

1,128

922

1.35

1.32

San Francisco

52

10

0

0

1

63

5500

0.23

0.22

San Joaquin

278

26

0

0

3

307

616

2.02

1.98

San Luis obispo

25

4

0

0

0

29

3527

0.35

0.35

San Mateo

94

19

0

0

2

115

2266

0.55

0.54

Santa Barbara

27

2

0

0

0

29

4928

0.25

0.25

Santa Clara

206

45

0

0

2

253

2290

0.54

0.53

Santa Cruz

16

5

0

0

0

21

4708

0.26

0.26

Shasta

23

2

0

0

0

25

2752

0.45

0.44

Siskiyou

1

1

0

0

0

2

10974

0.11

0.11

Solano

111

35

0

0

4

150

897

1.39

1.36

Sonoma

54

9

0

0

1

64

2862

0.44

0.43

Stanislaus

197

42

0

0

2

241

626

1.99

1.95

Sutter

16

0

0

0

0

16

1770

0.70

0.69

Tehama

9

2

0

0

0

11

2141

0.58

0.57

Tulare

74

10

0

0

1

85

1408

0.88

0.87

Tuolumne

6

2

0

0

0

8

3542

0.35

0.34

Ventura

93

16

0

0

1

110

2288

0.54

0.53

Yolo

26

3

0

0

0

29

2124

0.59

0.57

Yuba

10

3

0

0

0

13

1741

0.72

0.70

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 construction properties, with more than 1 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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