Tag Archives: foreclosure sales

California’s Foreclosure Inventory Continues to Dry Up

“Foreclosure inventory in California continued its steady decline in November, according to data from ForeclosureRadar.foreclosure

The total number of preforeclosures, foreclosures scheduled for sale, and REOs fell 7.6 percent from October to November and declined by 31.8 percent from a year ago.

ForeclosureRadar said, “the significant decline in foreclosure inventory over the past year has contributed to what some are calling an ‘inventory crisis’ of total homes for sale.”

The company attributes foreclosure cancellations as part of the reason for the decline.

Cancellations rose 4.7 percent from October and spiked 69.9 percent in the past two months. Compared to last year, cancellations are up 34.7 percent.

ForeclosureRadar believes short sales and successful modifications are likely leading to cancellations rather than statutory time frames or filing errors…”

Read the rest of DSNews.com’s article on their website, here: “Report: California’s Foreclosure Inventory Continues to Dry Up“.

Foreclosure sales are up on the West Coast, except for Washington

Foreclosure sales on the West Coast started strong for the beginning of 2012, with Washington as the exception, according to ForeclosureRadar.

Arizona, California, Nevada, and Oregon are the other states included in the report – all of which saw increases in foreclosure sales to investors. Trustee sale investors pay the full amount in cash without inspections or title insurance prior to purchase.

This is the fourth largest month on record in California, and the busiest since March of 2011, stated ForeclosureRadar

California also saw a substantial increase (+14.6 percent), and the state underwent the most activity, with investors purchasing 3,964 properties for $766.2 million, according to ForeclosureRadar…

Read the rest of this article from DSNews.com here: “Foreclosure Sales Up for West Coast States Except Washington.”