Foreclosure Update – March 2012

The “foreclosure wave” many predicted at the end of last year is beginning to look more like a drought, as foreclosure sales dropped significantly in February. Although sales to 3rd Parties, typically investors, were down month-over-month, as a percentage of all sales 3rd Parties purchased a record 37.6 percent of foreclosures, up from 20.3 percent a year earlier, and just 2.2 percent in February 2008.

Further eliminating any possibility of a foreclosure wave for months to come, was a substantial drop in new foreclosure filings in California. Unlike years past, February’s drop in sales was not due to the short month. Thanks to the Leap Year, California had only one less business day than usual in February (because of the Abraham Lincoln’s birthday observation).


Source: ForeclosureRadar.com

 

Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty

Oak Shores Real Estate
View Oak Shores Listings
Visit My Website
Email Me

Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.

Please let us know how we can help!

Leave a Reply