Tag Archives: ForeclosureRadar

ForeclosureRadar's Foreclosure Report for July 2012 showed mixed month-over-month trends from state to state but revealed an overall year-over-year decline in foreclosure filings. The report, released Monday, covers Arizona, California, Nevada, Oregon, and Washington. Of the five states, only Arizona and Oregon posted decreases in foreclosure filings from June, while California and Nevada reported relatively small increases.

ForeclosureRadar issued its Foreclosure Report for June on Wednesday, revealing that foreclosure sales fell significantly in the three largest foreclosure states in the company's coverage area. According to the report, foreclosure sales in California were down 13.4 percent over May and 48.8 percent over June 2011. Arizona and Nevada also saw a downturn in sales, showing month-over-month decreases of 18.5 percent and 14.6 percent, respectively. Year-over-year, Arizona's foreclosure sales were down 42.1 percent, while Nevada's sales fell 72.1 percent.

Foreclosure activity in May was marked by lenders being impacted by local market conditions rather than any national trend, according to ForeclosureRadar's May 2012 Foreclosure Report. The report examined all foreclosure activity - sales, starts, and timelines - for Arizona, California, Nevada, Oregon, and Washington in the month of May. While foreclosure starts and sales rose overall between the five states, individual activity widely varied.

For West coast states, the foreclosure wave is reported to be dying down as third parties, who are typically investors, snatch up foreclosed homes, according to the February 2012 Foreclosure RadarReport. While third party sales were down month-over-month, as a percentage of all sales, third parties purchased 37.6 percent of foreclosures. Compared to the year before, foreclosure sales to third parties increased 84.62 percent in Oregon, 61.33 percent in Nevada, 39.72 percent in California, 23.31 percent in Arizona, and 7.35 percent for Washington.

With the holiday season approaching, the tracking firm ForeclosureRadar is seeing declines in the number of completed foreclosures in four of the five states it monitors along the country's West Coast - California, Nevada, Oregon, and Washington. Only Arizona saw foreclosure sales rise in November, up 25 percent from October. Even with the recent increase, Arizona's numbers remain well below the state's monthly average for the year. Sales of foreclosures to third-party investors have risen sharply when compared to year-ago levels.

New foreclosure actions in states along the country's West Coast returned to levels in line with prior months during September, according to ForeclosureRadar. The leveling off in September follows a surge in foreclosure starts during the month of August in the western states of Arizona, California, Nevada, Oregon, and Washington. ForeclosureRadar continues to see strong investor interest on the courthouse steps, with purchases by third parties at or near peak levels in four of the five states.

Foreclosure starts soared during the month of August in states along the country's western coast, reversing what had been a declining trend over the past several months, according to ForeclosureRadar. The firm keeps close tabs on foreclosure activity in the states of Arizona, California, Nevada, Oregon, and Washington. It recorded a spike in the first notice filed in the foreclosure process across the five-state coverage area, driven by a 116 percent month-over-month increase in activity from Bank of America.

Third-party investors are much faster at reselling foreclosures than banks, according to the tracking firm ForeclosureRadar. It keeps close tabs on foreclosure activity in states along the country's western seaboard, and the company says one market dynamic that's consistent throughout the area is that investors are moving foreclosed homes at a more rapid pace than lenders who take possession of REOs. For example, California banks on average take 104 days longer to dispose of REOs than third-party investors do to resell their distressed assets.

Third-party investors are reselling foreclosure properties they've scooped up at auction at a rapid pace in states along the country's Western seaboard. In fact, they're moving distressed homes faster than lenders, according to a local tracking firm. ForeclosureRadar says the resell timeframe for foreclosure investors has dropped throughout its five-state coverage area. The company says it's partially due to spring selling activity, but more to do with a lack of quality, affordable homes for sale as a result of foreclosure delays.

Foreclosure activity slowed in April in states along the country's West Coast, but a local firm that tracks every foreclosure action in the area is having trouble making sense of what it says is an unexpected trend. According to ForeclosureRadar, filings last month were down in Arizona, California, Nevada, and Washington. Cancellations were up significantly across the board, leaving fewer properties scheduled for trustee sale. ForeclosureRadar says banks have had time to resolve robo-signing issues, so we should be seeing exactly the opposite results.