Riverside-San Bernardino Metro Area Foreclosure Activity Increases in 2009

Metrowide filings up 13 percent from 2008; up 9 percent from November

 

The Riverside-San Bernardino metro area ended 2009 tallying 126,376 properties with foreclosure filings, a 13 percent increase from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For December, the metro area reported 15,296 properties with foreclosure filings, a 9 percent increase over the previous month, but down 20 percent from December 2008. The metro area’s foreclosure rate — one in every 94 housing units received a foreclosure filing — was fourth highest among the 203 metro areas tracked in the RealtyTrac report.

 

“Foreclosure activity shot back up again in the Riverside-San Bernardino metro area in December, leaving the region with a higher total number of filings for 2009 than it reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “As unemployment within the area inches down slightly, at 14 percent it remains well above the national average and which is a concern among residents who may have already seen friends and neighbors lose their homes to foreclosure.”

 

With one in every 11 housing units receiving a foreclosure filing during 2009, Riverside-San Bernardino Metro Area’s foreclosure rate ranked fourth highest among the 203 metro areas tracked in the RealtyTrac report.

 

Riverside County posts metro area’s highest foreclosure rate and total for 2009

With one in every 11 housing units receiving a foreclosure filing in 2009, Riverside County posted the highest county foreclosure rate in the metro area for the year. Riverside County also led the state in foreclosure activity, reporting 69,855 properties with foreclosure filings during 2009.

 

San Bernardino County followed, reporting one in every 12 housing units receiving a foreclosure filing for the year. San Bernardino also came in second in terms of total activity, documenting 56,521 properties with foreclosure filings in 2009.

 

State ranks first nationally in total foreclosure filings for 2009

California reported 632,573 properties with foreclosure filings for 2009, giving it the highest state total in the nation for the year. This latest total represents a 21 percent increase from 2008 and was up 154 percent from 2007. One in every 21 California housing units received a foreclosure filing during the 2009, the fourth highest state foreclosure rate in the nation.

 

State the top contributor to nation’s foreclosure total in 2009

California accounted for 22 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Rates By County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

%Chg

From 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Riverside-San Bernardino Metro Area

126,376

8.80

11

12.55

n/a

California

632,573

5.93

21

20.81

153.52

 

 

 

 

 

 

Riverside

69,855

9.25

11

12.96

134.21

San Bernardino

56,521

8.30

12

12.04

157.05

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

%Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Riverside-San Bernardino Metro Area

126,376

8.80

11

12.55

n/a

California

632,573

4.75

21

20.81

153.52

 

 

 

 

 

 

Riverside

69,855

9.25

11

12.96

134.21

San Bernardino

56,521

8.30

12

12.04

157.05

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Riverside-San Bernardino Metro Area

0

0

6,085

0

3,271

9,356

226

n/a

n/a

California

0

0

8,671

0

4,305

12,976

305

1.20

n/a

 

 

 

 

 

 

 

 

 

 

Riverside

2,770

0

3,156

0

2,246

8,172

92

3.96

1.79

San Bernardino

2,359

0

2,758

0

2,007

7,124

96

3.83

1.73

 

 

Riverside-San Bernardino Metro Area Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg

Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Riverside-San Bernardino Metro Area

5,129

0

5,914

0

4,253

15,296

94

9.14

-20.41

California

27,837

0

32,224

0

20,427

80,488

165

8.77

-10.02

 

 

 

 

 

 

 

 

 

 

Riverside

2,770

0

3,156

0

2,246

8,172

92

9.40

-21.02

San Bernardino

2,359

0

2,758

0

2,007

7,124

96

8.85

-19.69

 

 

 

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