Foreclosure Update – February 2012

Real Estate investors started off 2012 with a bang. California saw the most activity, with investors purchasing 3,964 properties for $766.2 million. Note that trustee sale investors must pay in cash, in full, with no title insurance or inspections prior to purchase. This is the fourth largest month on record in California, and the busiest since March of 2011.

Despite what appears to be significant percentage increases in Foreclosure Starts, these increases barely offset the declines seen over the holidays. Compared to January one year ago, Foreclosure Starts are significantly lower now – despite the fact that many banks were still under self-imposed moratoriums due to robo-signing last year.

Source: ForeclosureRadar.com

 

Grace Borzini
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Oak Shores Realty

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