California Foreclosure Activity Rises in November

Statewide  filings up 15 percent from October; Rate second highest

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — were  reported on 63,689 California properties in November, a 15 percent increase  from October and 11 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

The Golden State maintained its position as the state with the second highest foreclosure rate, reporting one in every 211 California housing units with a foreclosure filing in November — nearly three times the national average.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place, tallying 12,327 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.

San Bernardino County posts top foreclosure rate in  the state for November
One in every 119 housing units in San Bernardino County had a foreclosure filing in November — 4.9 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 second  highest rate of one in every 120 housing units with a foreclosure filing during  the month — 4.8 times the national average and 1.8 times the state average. Riverside  County had the third highest rate of one in every 130 housing units with a  foreclosure filing during the month — 4.5 times the national average and 1.6  times the state average.

Southern California stays atop the foreclosure heap  in November
Four Southern California  counties topped the list for highest foreclosure totals in the state for November. Los Angeles County continued to lead all counties by a large margin, reporting 13,276 properties with foreclosure filings for the month. Riverside County remained  second highest, reporting 5,969 properties with foreclosure filings. San Bernardino  County was third once again, reporting 5,770 properties with foreclosure  filings. Fourth highest was San Diego County, recording 4,484 properties with  foreclosure filings. Sacramento County was fifth highest, tallying 3,797 properties with foreclosure filings for the month.

State the nation’s largest contributor to total  foreclosure activity in November
California accounted for 28 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down  over 14 percent from the level reported in November 2010. One in every 579 U.S.  housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve  seen in each of the past four years, November’s numbers suggest a new set of  incoming foreclosure waves, many of which may roll into the market as REOs or  short sales sometime early next year,” said James Saccacio, co-founder of  RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago,  the smallest annual decrease over the past 12 months, and some bellwether  states such as California, Arizona and Massachusetts actually posted  year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a  nine-month high in November, corresponding to a recent surge in default notices  that began back in August,” Saccacio continued. “Many of the new defaults that  started the foreclosure process over the past few months are now being  scheduled for public foreclosure auction.”

California Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

California

28,897

0

26,509

0

8,283

63,689

211

2.75

n/a

 

 

 

 

 

 

 

 

 

 

San Bernardino

2,698

0

2,253

0

819

5,770

119

4.85

1.77

San Joaquin

816

0

718

0

379

1,913

120

4.84

1.76

Riverside

2,628

0

2,459

0

882

5,969

130

4.46

1.63

Solano

516

0

450

0

143

1,109

136

4.26

1.55

Kern

919

0

793

0

260

1,972

139

4.16

1.51

 California Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

California

28,897

0

26,509

0

8,283

63,689

211

15.14

11.00

 

 

 

 

 

 

 

 

 

 

Los Angeles

5,838

0

5,955

0

1,483

13,276

255

15.46

15.54

Riverside

2,628

0

2,459

0

882

5,969

130

20.61

9.10

San Bernardino

2,698

0

2,253

0

819

5,770

119

28.91

32.19

San Diego

2,087

0

1,876

0

521

4,484

255

18.31

16.17

Sacramento

1,733

0

1,584

0

480

3,797

146

16.79

6.75

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