03-13-2012 09:22 AM
Foreclosure Radar updated their monthly foreclosure statistics for Orange County this morning and there's some interesting stats. Here's all of the charts:
Overall, filings are way down compared to last month and last year at this time. One of the most interesting stats is the amount of homes being sold to 3rd parties at auctions is up 37% over this time last year, although down compared to January.
Have a great day folks!
03-13-2012 01:39 PM
Meh. Just looks like a very slowly decreasing line with a noticeable bubble up Aug-Nov 2011 in NODs, followed predictably enough by a bubble up in NOTs approximately 90 days later. I think those are the noteworthy trends.
What it presumably means is that there will also be a bubble up in REO listings from the trustee sales, at whatever typical time it takes for a bank to go from repurchase to putting the property on the market.
Sure looks, however, like banks were in a bit of a hurry last year to get properties foreclosed and sold in 2012. Maybe they smell a regime change in the air this November. I do, too. If I had a short sale to perform, I'd get it done this spring or summer if I possible could.