CALIFORNIA FORECLOSURES DECREASE 20 PERCENT IN APRIL

Foreclosures Increase 91 Percent From a Year Ago

Los Angeles County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – California reported 8,839 properties entering some stage of foreclosure in April, a 20 percent decline from the previous month but a 91 percent increase from the 4,620 foreclosures reported in April 2005, according to RealtyTrac’s April 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.

 

“Even though California foreclosures decreased in April, they have almost doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Rising interest rates, higher energy costs and an increased number innovative mortgage loans may be contributing to the rise.”

 

With one foreclosure filing for every 1,382 households (92 percent of the national average), California‘s foreclosure rate ranked 16th among the 50 states. Overall, the state total accounted for 9.7 percent of the nation’s foreclosures for the month, with only Texas reporting more foreclosures.

 

Reporting 2,094 properties entering some stage of foreclosure in April, Los Angeles County accounted for the largest share of the state’s foreclosure filings. However, the county’s foreclosure rate of one foreclosure filing for every 1,562 households was still below both the state and national averages.  

 

San Joaquin County posted the state’s highest foreclosure rate in April, with one foreclosure filing for every 404 households (more than three times both the state and national averages). Riverside and Sacramento counties both documented foreclosure rates more than double the state and national averages.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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 — April 2006

 

State Name

NODs

NTSs

NFSs

LISs

REOs

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

California

7,778

884

0

0

177

8,839

1,382

0.92

 

 

 

 

 

 

 

 

 

 

Alameda

338

72

0

0

13

423

1,277

0.99

1.08

Amador

3

3

0

0

2

8

1,879

0.67

0.74

Butte

25

1

0

0

1

27

3,168

0.40

0.44

Calaveras

4

0

0

0

0

4

5,737

0.22

0.24

Contra Costa

283

25

0

0

5

313

1,133

1.12

1.22

Del Norte

3

1

0

0

0

4

2,609

0.49

0.53

El Dorado

31

6

0

0

0

37

1,926

0.66

0.72

Fresno

235

24

0

0

7

266

1,018

1.25

1.36

Glenn

1

0

0

0

0

1

9,982

0.13

0.14

Humboldt

8

0

0

0

0

8

6,989

0.18

0.20

Imperial

0

0

0

0

0

0

 

0.00

0.00

Inyo

1

0

0

0

0

1

9,042

0.14

0.15

Kern

92

19

0

0

5

116

1,996

0.64

0.69

Kings

3

7

0

0

0

10

3,656

0.35

0.38

Lake

9

8

0

0

1

18

1,807

0.70

0.76

Lassen

5

0

0

0

0

5

2,400

0.53

0.58

Los Angeles

1,909

155

0

0

30

2,094

1,562

0.81

0.88

Madera

9

1

0

0

1

11

3,672

0.35

0.38

Marin

20

2

0

0

1

23

4,565

0.28

0.30

Mariposa

0

0

0

0

0

0

 

0.00

0.00

Mendocino

8

1

0

0

2

11

3,358

0.38

0.41

Merced

13

3

0

0

0

16

4,273

0.30

0.32

Monterey

39

3

0

0

1

43

3,051

0.42

0.45

Napa

12

4

0

0

1

17

2,856

0.44

0.48

Nevada

11

3

0

0

0

14

3,163

0.40

0.44

Orange

407

19

0

0

11

437

2,218

0.57

0.62

Placer

79

10

0

0

1

90

1,192

1.06

1.16

Plumas

1

0

0

0

0

1

13,386

0.09

0.10

Riverside

820

106

0

0

23

949

616

2.06

2.24

Sacramento

693

81

0

0

8

782

607

2.09

2.28

San Benito

12

1

0

0

0

13

1,269

1.00

1.09

San Bernardino

633

42

0

0

9

684

879

1.44

1.57

San Diego

661

100

0

0

21

782

1,330

0.95

1.04

San Francisco

65

9

0

0

0

74

4,683

0.27

0.30

San Joaquin

409

57

0

0

2

468

404

3.14

3.42

San Luis obispo

27

0

0

0

1

28

3,653

0.35

0.38

San Mateo

65

13

0

0

2

80

3,257

0.39

0.42

Santa Barbara

30

2

0

0

1

33

4,330

0.29

0.32

Santa Clara

196

27

0

0

3

226

2,563

0.49

0.54

Santa Cruz

23

1

0

0

1

25

3,955

0.32

0.35

Shasta

13

3

0

0

1

17

4,048

0.31

0.34

Siskiyou

2

0

0

0

0

2

10,974

0.12

0.13

Solano

178

16

0

0

7

201

669

1.90

2.06

Sonoma

46

8

0

0

1

55

3,330

0.38

0.41

Stanislaus

162

16

0

0

4

182

829

1.53

1.67

Sutter

2

0

0

0

0

2

14,160

0.09

0.10

Tehama

11

3

0

0

0

14

1,682

0.75

0.82

Tulare

53

7

0

0

6

66

1,813

0.70

0.76

Tuolumne

4

2

0

0

1

7

4,048

0.31

0.34

Ventura

90

15

0

0

2

107

2,352

0.54

0.59

Yolo

26

5

0

0

0

31

1,987

0.64

0.70

Yuba

8

3

0

0

2

13

1,741

0.73

0.79

 

 

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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