August Foreclosure Starts Down Dramatically | Lisa Mescher Real ...

August 2012 Foreclosure Report from ForeclosureRadar.com?
09/10/2012

August 2012 Foreclosure Starts Down Dramatically

August 2012 California Notice of Defaults were down 23.6 percent from the prior month, and down 49.1 percent compared to last year. In Arizona, Notice of Sales were down 16.1 percent from the prior month, and down 42.2 percent compared to last year. The decline in Foreclosure Starts is even more significant on an average daily basis, down 36.9 percent from the prior month in California with 23 business days in August vs. 19 business days in July.

While Foreclosure Sales were up 23.7 percent in California on a month over month basis, Foreclosure Sales in California were basically flat on an average daily basis, with an increase of just 2.2 percent vs. last month.

In Oregon, non-judicial foreclosure activity almost came to a halt, with Foreclosure Starts down 80.6 percent vs. last month and down 93.9 percent vs. last year, most likely indicating a move to judicial foreclosures as discussed last month.

?We continue to see reports that there will be a wave of foreclosure sales after the election or at the start of the year,? stated Sean O?Toole, Founder & CEO of ForeclosureRadar. ?The lack of Foreclosure Starts this month puts a nail in the coffin of this theory. There will be no wave of foreclosures for at least five months. The good news for investors and first-time buyers is that Foreclosure Sales have at least remained flat, continuing to provide some opportunities in the meantime.?

For more information go to ForeclosureRadar.com

I have over 20 years of experience in real estate in both Northern and Southern California. CALL ME FOR A FREE CMA FOR YOU PROPERTY. LISA MESCHER 530-414-4744. If you are currently considering a purchase in California, it would be my pleasure to e-mail you a list of properties currently on the market. I can tailor searches for your personal criteria and offer maps and suggestions for starting your search. I look forward to your call or e-mail today.

Source: http://lisamescher.com/?p=742

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