CALIFORNIA FORECLOSURES INCREASE 14 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 54 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – California reported 14,430 new foreclosure filings in January, the nation’s second highest total and up 14 percent from the previous month, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

“As it did for all of 2006, California continues to rank in the top three states in terms of foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Defaults accounted for the greatest number of new foreclosure filings for January. A slower rate of price appreciation, fewer home sales, and the resetting of risky sub-prime mortgages are all factors contributing to this latest increase.”

 

The Golden State’s foreclosure total was just slightly lower than national leader Texas, which reported 14,728 new foreclosure filings for the month, and more than 2,600 filings higher than third place Florida which reported 11,709 new filings in January.  California reported one new foreclosure filing for every 846 households, the 14th highest foreclosure rate in the country and slightly above the national average.

 

Five counties account for largest share of state total

New foreclosure filings in five counties combined accounted for 61 percent of all foreclosures in California for January. Los Angeles County documented the most foreclosure activity, with 3,192 new foreclosure filings for the month. San Bernardino County documented the second highest total, 1,830, and Sacramento County came in third with 1,470 new foreclosure filings. The fourth highest total was in Riverside County, which reported 1,196 new foreclosure filings for the month. San Diego County rounded out the top five counties, with 1,150 new foreclosure filings.

 

Solano County reports highest foreclosure rate in the state

Solano County tallied the highest foreclosure rate in California for January, one new foreclosure filing for every 260 households — 3.3 times the state average and 3.4 times the national average. Sacramento County registered the second highest rate, one new foreclosure filing for every 323 households — 2.6 the state average and 2.7 times the national average. San Bernardino County reported the third highest rate in the state with one new foreclosure filing for every 329 households — 2.6 times the state average and 2.7 times the national average. Merced County came in fourth, reporting a rate of one new foreclosure filing for every 362 households— 2.3 times the state average and 2.5 times the national average.

 

State makes significant contribution to national total

California’s total accounted for 11 percent of the 130,511 new foreclosure filings nationwide in January. The national total was up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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: 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

California

10,106

3,232

0

0

1,092

14,430

846

1.05

n/a

 

 

 

 

 

 

 

 

 

 

Alameda

747

119

0

0

21

887

609

1.45

1.39

Amador

0

2

0

0

1

3

5012

0.18

0.17

Butte

4

4

0

0

2

10

8552

0.10

0.10

Calaveras

1

0

0

0

2

3

7649

0.12

0.11

Colusa

0

0

0

0

0

0

 

0.00

0.00

Contra Costa

346

101

0

0

22

469

756

1.17

1.12

Del Norte

0

0

0

0

0

0

 

0.00

0.00

El Dorado

1

11

0

0

1

13

5483

0.16

0.15

Fresno

272

87

0

0

25

384

705

1.26

1.20

Glenn

1

1

0

0

0

2

4991

0.18

0.17

Humboldt

1

3

0

0

0

4

13978

0.06

0.06

Imperial

3

4

0

0

1

8

5486

0.16

0.15

Inyo

0

0

0

0

1

1

9042

0.10

0.09

Kern

272

116

0

0

18

406

570

1.55

1.48

Kings

0

7

0

0

1

8

4570

0.19

0.19

Lake

0

11

0

0

4

15

2169

0.41

0.39

Los Angeles

2,436

460

0

0

296

3,192

1025

0.86

0.83

Madera

2

5

0

0

7

14

2885

0.31

0.29

Marin

4

8

0

0

5

17

6176

0.14

0.14

Mariposa

0

1

0

0

1

2

4413

0.20

0.19

Mendocino

1

5

0

0

1

7

5277

0.17

0.16

Merced

161

23

0

0

5

189

362

2.45

2.34

Mono

0

0

0

0

0

0

 

0.00

0.00

Monterey

4

21

0

0

2

27

4858

0.18

0.17

Napa

41

10

0

0

2

53

916

0.97

0.92

Nevada

0

2

0

0

1

3

14761

0.06

0.06

Orange

597

143

0

0

43

783

1238

0.72

0.68

Placer

24

56

0

0

14

94

1142

0.78

0.74

Plumas

0

1

0

0

0

1

13386

0.07

0.06

Riverside

795

295

0

0

106

1,196

489

1.81

1.73

Sacramento

801

556

0

0

113

1,470

323

2.74

2.62

San Benito

0

8

0

0

1

9

1833

0.48

0.46

San Bernardino

1,320

375

0

0

135

1,830

329

2.70

2.58

San Diego

915

165

0

0

70

1,150

904

0.98

0.94

San Francisco

94

25

0

0

2

121

2864

0.31

0.30

San Joaquin

75

84

0

0

46

205

923

0.96

0.92

San Luis obispo

50

10

0

0

5

65

1573

0.56

0.54

San Mateo

92

41

0

0

1

134

1945

0.46

0.44

Santa Barbara

3

20

0

0

7

30

4763

0.19

0.18

Santa Clara

340

47

0

0

12

399

1452

0.61

0.58

Santa Cruz

5

9

0

0

2

16

6180

0.14

0.14

Shasta

4

9

0

0

1

14

4915

0.18

0.17

Siskiyou

0

2

0

0

0

2

10974

0.08

0.08

Solano

287

157

0

0

74

518

260

3.41

3.26

Sonoma

22

15

0

0

4

41

4467

0.20

0.19

Stanislaus

245

99

0

0

11

355

425

2.09

1.99

Sutter

3

2

0

0

1

6

4720

0.19

0.18

Tehama

0

0

0

0

1

1

23547

0.04

0.04

Tulare

131

25

0

0

9

165

725

1.22

1.17

Tuolumne

0

3

0

0

1

4

7084

0.13

0.12

Ventura

5

57

0

0

6

68

3702

0.24

0.23

Yolo

1

18

0

0

4

23

2678

0.33

0.32

Yuba

0

9

0

0

4

13

1741

0.51

0.49

 

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 construction properties, 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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