Tuesday, June 13, 2006

Defaults 'On The Rise' In California

A television station in California has this to report. "The number of California homeowners having difficulty paying their mortgage is going up. New statistics show the specifics: the number of foreclosures is clearly on the rise."

"In California there are more than 2,500 homes in foreclosure. There are nearly 85,000 pre-foreclosures. Those are homeowners who are on the verge of losing their homes."

"In Sacramento there are 165 current foreclosures, more than 4,500 homes are in pre-foreclosure."

"In San Joaquin County there are 76 foreclosures and more than 2,800 pre-foreclosures."

A video report is available at the link.

8 Comments:

At 11:01 PM, Blogger UnrealisticRealEstate said...

Actually,

California State Info:
Updated: 6/14/06 12:38 AM
Foreclosures: 2,709
Preforeclosures: 85,146
Bankruptcies: 23,145


Yes, from nearly to over 85,000 of preforeclosures

 
At 7:58 PM, Blogger UnrealisticRealEstate said...

California State Info:
Updated: 6/14/06 9:51 PM
Foreclosures: 2,771


Forclosures increased from 2,709 to 2,771 when in less than 24 hours

 
At 8:46 AM, Blogger Loren said...

What I found even more interesting was the tax deliquency rate in CA and elsewhere.
CA has 284,020 tax liens according to foreclosure.com. You don't even have to have a mortgage to lose your house over back taxes.

 
At 9:44 AM, Blogger moqui said...

pretty quite over here!

cleaning my desk I discovered some old notes from last summer. I'll make a spread sheet on it when we get to YOY #'s

sourece: foreclosure.com

8-25-05

Orange County
foreclosures: 19
Preforeclosures: 4037
BK's 2114
tax liens 1885

LA County
foreclosures: 144
Preforeclosures: 12060
BK's 8086
tax liens 15830

Riverside County
foreclosures: 84
Preforeclosures: 7250
BK's 1692
tax liens 9348

San Berd'o County
foreclosures: 104
Preforeclosures: 7252
BK's 1662
tax liens 16462

San Diego County
foreclosures: 83
Preforeclosures: 3087
BK's 12851
tax liens 4594


6-15-06

Orange County
foreclosures: 152
Preforeclosures: 5194
BK's 1396
tax liens 3124

LA County
foreclosures: 698
Preforeclosures: 13712
BK's 8552
tax liens 41653

Riverside County
foreclosures: 420
Preforeclosures: 9561
BK's 1101
tax liens 25970

San Berd'o County
foreclosures: 285
Preforeclosures: 8844
BK's 883
tax liens 51039

San Diego County
foreclosures: 354
Preforeclosures: 4382
BK's 1479
tax liens 15508

There was a rush to file for BK before October 05 so the decrease is understandable.
The foreclosures and tax liens are over 6X last years numbers in many counties! Ouch!

 
At 1:27 PM, Blogger MrIncomeStream said...

Those numbers are high but still not high enough to effect pricing.

 
At 1:15 PM, Blogger UnrealisticRealEstate said...

In just about 4 days the foreclosures, preforeclosure and bankruptcies increased to:

California State Info:
Updated: 6/18/06 6:12 AM
Foreclosures: 2,803
Preforeclosures: 85,600
Bankruptcies: 23,230

Yep, not small potatoes

 
At 10:35 PM, Blogger UnrealisticRealEstate said...

California State Info:
Updated: 06-6-22 ??12:14
Foreclosures: 2,871
Preforeclosures: 86,462
Bankruptcies: 23,342

Roughly a week later forclosures increased from 2,709 to 2,871 and preforeclosures increased from 85,146 to 86,462. Can you imagine if it continues at this rate?

 
At 11:28 PM, Blogger UnrealisticRealEstate said...

Referring to previous post of mine..
Yes, updated same day, but evening.
Data shows as follows:

California State Info:
Updated: 6/22/06 5:36 PM
Foreclosures: 2,882
Preforeclosures: 86,881
Bankruptcies: 23,527

Forclosures increased by 11, Preforeclosure by 419 and bankruptcies by 185. The Pace continues.

 

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