Placer County Foreclosures Report for July 2012

In their monthly report for July 2012, www.Foreclosureradar.com has reported that the number of new foreclosure notices that were filed in Placer County was up 9% in July when compared to June, but was down just over 10% compared to July of 2011.

The inventory of level of homes currently owned by banks was down 4% in July compared to June, and was down over 39% compared to July of last year.

The number of homes that were sold at foreclosure auction in July was down 9% compared to June, and was down 49% compared to July of last year.

Investors purchased 39 of the 89 homes that were sold at foreclosure auction, while banks took possession of the remaining 50.

Overall, new foreclosure filings were up a bit, while the number of homes actually foreclosed on continued to fall and the inventory of homes in the banks possession continued to decline as well.

Placer County Foreclosure Filings for July 2012:

	New Notice of Default	New Notice of Trustee Sale	Total New Foreclosure Filings
July 2012	320	214	534
June 2012	294	195	489
July 2011	283	308	591
	Back to Bank	Sold to 3rd Party	Total Foreclosed During Month
July 2012	50	39	89
June 2012	50	48	98
July 2011	131	44	175

	Total Preforclosure	Total Notice of Sale	Bank Owned Inventory
July 2012	1240	952	788
June 2012	1413	966	821
July 2011	1389	1192	1294

Placer County Bank Owned Homes for Sale

	1 month			1 year			5 years
	June 12	July 12	% Change	July 11	July 12	% Change	July 07	July 12	% Change
For Sale	58	65	12.1%	180	65	-63.9%	177	65	-63.3%
New Listing	61	50	-18%	149	50	-66.4%	70	50	-28.6%
Sold	79	64	-19%	119	64	-46.2%	28	64	128.6%
Pended	76	54	-28.9%	111	54	-51.4%	44	54	22.7%

 

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 increased in July compared to June, but was still down over 63% compared to July of last year.

The number of new bank owned homes that were added to the market in July decreased when compared to June and July of last year.

The number of Placer County bank owned homes pending sale declined in July compared to June and 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 July when compared to June and July 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 now at about 1 month, which is up from June, but still very, very tight.

Placer County Short Sale Homes for Sale

	1 month			1 year			5 years
	June 12	July 12	% Change	July 11	July 12	% Change	July 07	July 12	% Change
For Sale	89	109	22.5%	340	109	-67.9%	0	109	n/a
New Listing	171	139	-18.7%	183	139	-24%	1	139	13800%
Sold	136	141	3.7%	130	141	8.5%	0	141	n/a
Pended	215	210	-2.3%	182	210	15.4%	0	210	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 increased in July when compared to June, but still down nearly 68% compared to July of last year .

The number of new Placer County short sale homes that were added to the market in July was lower when compared to the number added in June, and was 24% lower than the number added to the market in July of last year.

The number of Placer County short sale homes pending sale in July was slightly lower than the number pending sale in June, but higher thant the number pending sale in July of last year.

The number of short sale Placer County homes that sold in June was higher than the number sold in June and July of last year, which is a positive improvement over the last few months where sales were stagnate despite an increase in the number of short sales going into contract.

The inventory level of short sale homes for sale in Placer County is now  about .8 months, which is slightly higher than last month and 70% lower  than last July.

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.