Placer County Foreclosures Report for May 2012

In their monthly report for May 2012, www.Foreclosureradar.com has reported that the number of new foreclosure notices that were filed in Placer County was approximately the same in May as in April, but was down just over 27% compared to May of 2011.

The inventory of level of homes currently owned by banks was down over 8% in May compared to April, and was down over 31% compared to May of last year.

The number of homes that were sold at foreclosure auction in May was down 24% compared to April and down nearly 60% compared to May of last year.

Investors purchased 48% of the 101 homes that were sold at foreclosure auction, while banks took possession of the remaining 52%.

Overall, each part of the foreclosure process seems to have either stalled or declined in Placer County during May when compared to both last month and last year.

Placer County Foreclosure Filings for May 2012:

	New Notice of Default	New Notice of Trustee Sale	Total New Foreclosure Filings
May 2012	270	193	463
Apr 2012	276	189	465
May 2011	307	331	638
	Back to Bank	Sold to 3rd Party	Total Foreclosed During Month
May 2012	52	49	101
April 2012	83	50	133
May 2011	174	77	251

	Total Preforclosure	Total Notice of Sale	Bank Owned Inventory
May 2012	1332	1005	931
Apr 2012	1471	1005	1019
May 2011	1466	1286	1359

Placer County Bank Owned Homes for Sale

	1 month			1 year			5 years
	Apr 12	May 12	% Change	May 11	May 12	% Change	May 07	May 12	% Change
For Sale	83	70	-15.7%	173	70	-59.5%	141	70	-50.4%
New Listing	80	72	-10%	127	72	-43.3%	67	72	7.5%
Sold	109	104	-4.6%	116	104	-10.3%	35	104	197.1%
Pended	95	99	4.2%	136	99	-27.2%	19	99	421.1%

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 substantially in May compared to April and dropped by an even greater amount compared to May of last year.

The number of new bank owned homes that were added to the market in May decreased as well when compared to April and May of last year.

The number of Placer County bank owned homes pending sale increased slightly in May compared to April, but was down considerably compared to May of last year, but this was due to a lack of new listings, not a lack of demand.

As with the decline in pending sales, the number of bank owned homes that sold in Placer County declined in May when compared to April and May of last year, but due to a lack of bank owned homes listed for sale, not a lack of demand.

Inventory levels of bank owned homes in Placer County are at about 3 weeks. We used to measure the inventory of REO properties in months.

Placer County Short Sale Homes for Sale

	1 month			1 year			5 years
	Apr 12	May 12	% Change	May 11	May 12	% Change	May 07	May 12	% Change
For Sale	118	125	5.9%	368	125	-66%	0	125	n/a
New Listing	169	185	9.5%	189	185	-2.1%	0	185	n/a
Sold	124	128	3.2%	136	128	-5.9%	0	128	n/a
Pended	222	262	18%	200	262	31%	0	262	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 higher in May than in April, but was much lower than the number listed for sale in May of last year.

The number of new Placer County short sale homes that were added to the market in May was higher in May compared to the number added in April, but was slightly lower than the number added to the market in May of last year.

The number of Placer County short sale homes pending sale in May was higher compared to April and May of last year.

The number of short sale Placer County homes that sold in May was higher than the number sold in April, but was lower than the number sold in May of last year.

Despite all the progress in listing more short sales and putting more of them in contract, it seems that getting them approved and closed is still an uphill battle.

The inventory level of short sale homes for sale in Placer County now stands at 1 month, which is unchanged from April, but is 1.7 months less than April of last year.

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.