California Foreclosure Activity Rises in August

Statewide  filings up 6 percent from July; Rate second highest

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — rose for  the second straight month in California, where 59,383 properties were reported  in August, a 6 percent increase from July but 14 percent below the level  reported for August 2010, according to the latest  RealtyTrac® U.S. Foreclosure Market Report. This is the 21st  straight monthly decline in California foreclosure activity year-over-year.

The Golden  State maintained its position as the state with second highest rate, reporting one  in every 226 California housing units with a foreclosure filing in August.

California continues to  lead the nation in terms of total properties with foreclosure filings by a large  margin. Second ranked Florida reported 23,569 properties with foreclosure  filings during the month. Moving up to third place was Michigan, where 13,016 properties  with foreclosure filings were reported. Illinois jumped a spot to the fourth  highest total, reporting 12,493 properties with foreclosure filings while Georgia  dropped two spots and took fifth place, tallying 11,743 properties with  foreclosure filings.

The remaining states that  make up the nation’s top 10 in August include Arizona (11,081), Texas (10,148),  Ohio (9,841), Nevada (9,677) and Colorado (4,933). The top 10 accounted for 73 percent  of the nation’s total foreclosure activity for the month.

Stanislaus and Solano counties post top foreclosure  rate in the state for August
  One in every 129 housing  units in both Stanislaus and Solano counties received a foreclosure filing in August  — 4.4 times the national average and 1.8 times the state average — the highest  foreclosure rate of all California counties for the month. San Joaquin County had  the third highest rate of one in every 133 housing units with a foreclosure  filing during the month — 4.3 times the national average and 1.7 times the  state average. Riverside County had the fourth highest rate of one in every 139  housing units with a foreclosure filing during the month — 4.1 times the  national average and 1.6 times the state average.

Southern California stays atop the foreclosure heap  in August
  Four Southern California  counties topped the list for highest foreclosure totals in the state for August.  Los Angeles County continued to lead all counties by a large margin, reporting  12,365 properties with foreclosure filings for the month. Riverside County remained  second highest, reporting 5,587 properties with foreclosure filings. San Bernardino  County was third once again, reporting 4,518 properties with foreclosure  filings. Fourth highest was San Diego County, recording 4,155 properties with  foreclosure filings. Sacramento County moved up the list to fifth highest, tallying  3,721 properties with foreclosure filings for the month.

State the nation’s largest contributor to total  foreclosure activity in August
  California accounted for 26  percent of the 228,098 properties with foreclosure filings reported nationwide  in August. Total U.S. activity increased by more than 7 percent from July, but was  down nearly 33 percent from the level reported in August 2010. One in every 570  U.S. housing units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank  repossessions in the coming months as these new foreclosures make their way  through the process.”

 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: DefaultNotice  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.



         California Top Foreclosure Rates By County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

California

28,961

0

18,704

0

11,718

59,383

226

2.52

n/a

 

 

 

 

 

 

 

 

 

 

Stanislaus

613

0

370

0

374

1,357

129

4.41

1.75

Solano

577

0

329

0

261

1,167

129

4.41

1.75

San Joaquin

717

0

555

0

454

1,726

133

4.30

1.71

Riverside

2,706

0

1,782

0

1,099

5,587

139

4.11

1.63

Sutter

121

0

67

0

50

238

141

4.05

1.61

 

 

         California Top Foreclosure Totals by County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

California

28,961

0

18,704

0

11,718

59,383

226

5.68

-14.12

 

 

 

 

 

 

 

 

 

 

Los Angeles

6,212

0

4,110

0

2,043

12,365

274

8.19

-8.51

Riverside

2,706

0

1,782

0

1,099

5,587

139

2.33

-20.63

San Bernardino

2,184

0

1,394

0

940

4,518

153

2.71

-22.18

San Diego

2,097

0

1,339

0

719

4,155

275

9.49

-10.20

Sacramento

1,647

0

979

0

1,095

3,721

149

12.08

-23.83

 

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