Placer County Foreclosures Report for June 2012

In their monthly report for June 2012, www.Foreclosureradar.com has reported that the number of new foreclosure notices that were filed in Placer County was up slightly in June when compared to May, but was down just over 19% compared to June of 2011.

The inventory of level of homes currently owned by banks was down over 6% in June compared to May, and was down over 36% compared to June of last year.

The number of homes that were sold at foreclosure auction in June was about the same as in May, but was down nearly 52% compared to June of last year.

Investors purchased 49% of the 98 homes that were sold at foreclosure auction, while banks took possession of the remaining 51%.

Overall, foreclosure filings and sales seem to have stabalized relative to last month, but are still down considerably compared to last year. Banks also appear to be moving some of their inventory on to the market, but they still own over 800 properties that have not yet been listed.

Placer County Foreclosure Filings for June 2012:

	New Notice of Default	New Notice of Trustee Sale	Total New Foreclosure Filings
June 2012	294	195	489
May 2012	270	194	464
June 2011	282	325	607
	Back to Bank	Sold to 3rd Party	Total Foreclosed During Month
June 2012	50	48	98
May 2012	52	49	101
June 2011	158	48	206

	Total Preforclosure	Total Notice of Sale	Bank Owned Inventory
June 2012	1413	966	868
May 2012	1332	1006	930
June 2011	1389	1226	1361

Placer County Bank Owned Homes for Sale

	1 month			1 year			5 years
	May 12	June 12	% Change	June 11	June 12	% Change	June 07	June 12	% Change
For Sale	70	58	-17.1%	162	58	-64.2%	161	58	-64%
New Listing	72	62	-13.9%	106	62	-41.5%	72	62	-13.9%
Sold	110	76	-30.9%	126	76	-39.7%	15	76	406.7%
Pended	91	83	-8.8%	125	83	-33.6%	34	83	144.1%

 

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 June compared to May 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 June decreased as well when compared to May and June of last year.

The number of Placer County bank owned homes pending sale declined in June compared to May, but was down considerably compared to June 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 June when compared to May and June 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, which basically means that nearly every bank owned home that is listed is sold shortly after.

Placer County Short Sale Homes for Sale

	1 month			1 year			5 years
	May 12	June 12	% Change	June 11	June 12	% Change	June 07	June 12	% Change
For Sale	125	89	-28.8%	362	89	-75.4%	0	89	n/a
New Listing	184	164	-10.9%	224	164	-26.8%	2	164	8100%
Sold	136	126	-7.4%	133	126	-5.3%	0	126	n/a
Pended	230	250	8.7%	202	250	23.8%	0	250	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 much lower in June than in May and was only 25% of the number listed in June of last year.

The number of new Placer County short sale homes that were added to the market in June was lower in  compared to the number added in May, and was over 26% lower than the number added to the market in June of last year.

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

The number of short sale Placer County homes that sold in June was lower than the number sold in May and June of last year.

The inventory level of short sale homes for sale in Placer County is now about .7 months, which is slightly less than last month and 75% lower than last June.

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.

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.