Placer County Foreclosures Report for September 2011
In their monthly report for September 2011, www.Foreclosureradar.com has reported that the number of new foreclosure notices that were filed in Placer County was down 30% in September 2011 when compared to August 2011, and was down almost 35% compared to September 2010. This was after increasing 35% in August compared to July.
Both new notices of default and new notices of sale fell in September compared to August.
It appears that the increase in NODs in August was not a trend.
In there monthly report the CEO of Foreclosureradar.com, Sean O'Toole states that, "While foreclosure activity returned to its normal course in September, we fully expect to see more volatility like we saw in August as banks continue to work in fits and starts through robo-signing and other issues."
The inventory level of homes in preforeclosure fell dramatically, due to the decrease in new filings, while the inventory of homes with notices of sale fell as well. This is suprising, because the number of new defaults increased last month, which should have lead to more notices of sales this month. Apparently, many of those foreclosures were cancelled, due to modifications or short sales.
The inventory of level of homes currently owned by banks was down slighly compared to both August and September of last year.
Placer County Foreclosure Filings for September 2011:
| New Notice of Default | New Notice of Trustee Sale | Total New Foreclosure Filings | |
| Sept 2011 | 320 | 236 | 556 |
| Aug 2011 | 459 | 340 | 799 |
| Sept 2010 | 468 | 390 | 858 |
| Back to Bank | Sold to 3rd Party | Total Foreclosed During Month | |
| Sept 2011 | 119 | 55 | 174 |
| Aug 2011 | 133 | 46 | 179 |
| Sept 2010 | 232 | 41 | 273 |
| Total Preforclosure | Total Notice of Sale | Bank Owned Inventory | |
| Sept 2011 | 1359 | 1086 | 1278 |
| Aug 2011 | 1909 | 1215 | 1310 |
| Sept 2010 | 1886 | 1504 | 1315 |
Placer County Bank Owned Homes for Sale
| 1 month | 1 year | 5 years | |||||||
| Aug 11 | Sep 11 | % Change | Sep 10 | Sep 11 | % Change | Sep 06 | Sep 11 | % Change | |
| For Sale | 185 | 157 | -15.1%  |
203 | 157 | -22.7% |
35 | 157 | 348.6%  |
| New Listing | 140 | 104 | -25.7% |
124 | 104 | -16.1% |
13 | 104 | 700% |
| Sold | 128 | 112 | -12.5% |
115 | 112 | -2.6% |
1 | 112 | 11100% |
| Pended | 128 | 133 | 3.9% |
88 | 133 | 51.1% |
4 | 133 | 3225% |
Based off of data and graphs provided by Trendgraphix.com and Metrolist MLS, the number of bank owned homes listed for sale in Placer County in Metrolist MLS decreased in September compared to August and compared to September of last year.
The number of new bank owned homes that were added to the market in September decreased dramatically when compared to August, and decreased compared to September of last year as well.
The number of Placer County bank owned homes pending sale in September was higher when compared to August and September of last year.
The number of bank owned Placer County homes that sold in September was lower than the number sold in August and September of last year.
The inventory level of bank owned homes in Placer County now stands at 1.5 months, which is about the same as last month, but a tad lower than in September of last year.
Placer County Short Sale Homes for Sale
| 1 month | 1 year | 5 years | |||||||
| Aug 11 | Sep 11 | % Change | Sep 10 | Sep 11 | % Change | Sep 06 | Sep 11 | % Change | |
| For Sale | 314 | 291 | -7.3% |
532 | 291 | -45.3% |
0 | 291 | n/a |
| New Listing | 190 | 199 | 4.7% |
223 | 199 | -10.8% |
0 | 199 | n/a |
| Sold | 153 | 140 | -8.5% |
113 | 140 | 23.9% |
0 | 140 | n/a |
| Pended | 244 | 300 | 23% |
114 | 300 | 163.2% |
0 | 300 | n/a |
Based off of data and graphs provided by Trendgraphix.com and Metrolist MLS, the number of short sales for sale in Placer County in Metrolist MLS was lower in September than in August, and was much lower than the number listed in September of last year.
The number of new Placer County short sale homes that were added to the market in September was up compared to the number added in August, but was down compared to the number added in September of last year.
The number of Placer County short sale homes pending sale in August was up considerably compared to August and was nearly 2.5 times the number pending sale in September of last year.
The number of short sale Placer County homes that sold in September was down compared to July, but was up nearly 24% compared to September of last year.
The inventory level of short homes for sale in Placer County now stands at 2.2 months, which is the same as August, but less than half the inventory level of September 2010.
If you have any questions about the statistics provided in this report, or if you are interested in buying a foreclosure home in Placer County, please feel free to contact us at 916-728-1981.
Posted by Patrick Hake of REMAX Gold on October 13, 2011 in Bank Repos, REO and Short Sales
, Placer County Real Estate
| Permalink | Placer County Homes and Land
Lic#: 01349088
Correct me if I'm wrong, but I am clearly seeing progress in these statistics. I hope there comes a time when foreclosure rates drop completely.
Posted by: new homes for sale | February 02, 2012 at 06:49 PM
Yes, things seem to be looking up. Our biggest problem in this market is having enough well priced homes to meet our buyer clients' demand. I hope your area of the country is doing as well. -Patrick
Posted by: Patrick Hake | February 03, 2012 at 06:45 AM