From a report issued yesterday, by ForeclosureRadar: “We expected a significant increase in auction sales based on previous default patterns” said Sean O'Toole,founder of ForeclosureRadar. “Unfortunately, the continued increases in defaults tell us that the worst is still ahead.
From a recent report by ForeclosureRadar it was show that: In April, it took California lenders an average of 140 days from Notice of Default to the property being sold at auction.
April foreclosure numbers were up in all categories. Average daily auction sales exceeded 1,000 properties a day for the first time in California’s history as reported by ForeclosureRadar.
Huge jump in California home foreclosures ForeclosureRadar, a website that tracks every California foreclosure with daily auction updates, last week issued its monthlyCalifornia Foreclosure Report.
A report by ForeclosureRadar, showed that the number of foreclosures sold in the county during December leapt 328 percent from the previous year to 1,096, comprising 45 percent of all sales.A second report by Hanley Wood Market Intelligence, reported sales of new homes throughout California in November tumbled 55 percent year over year, to 2,968,
October foreclosure sales increased by 40 percent from September with a total of 12,336 properties ? with a loan value of $5 billion -- sold at auction statewide, according to figures compiled by ForeclosureRadar.