Foreclosure Update – August 2012

July 2012 California Foreclosure Sales were up 10.4 percent over last month, while still down 41.7 percent vs. July 2011. California Notice of Defaults were basically flat showing an increase of 1.4 percent vs. June 2011, and a 12.3 percent increase vs. July 2011. It is normal to see monthly fluctuations in both directions on a month-to-month basis, thus it is critical to look at the monthly trends over time to get a clear picture of the Foreclosure marketplace.

“While we are as curious as anyone to see the direction foreclosures are headed each month, it is important to keep things in context,” stated Sean O’Toole, Founder & CEO of ForeclosureRadar. “It is not unusual to see the number of Foreclosure Filings or Foreclosure Sales go up or down 10 percent or more each month. Whether it’s due to the length of the month, holidays, or internal delays at a lender, trustee, or posting company, it is completely normal to see fluctuations. What’s important is the bigger picture.”














Grace Borzini

Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

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