Market Update

California Foreclosure Sales Reach $12 Billion in First Half of 2007: Up 95% from January to June

DISCOVERY BAY, Calif., Jul 10, 2007 (BUSINESS WIRE) -- ForeclosureRadar(TM) (ForeclosureRadar.com) today released its June 2007 California Foreclosure Report. This unique monthly report includes previously unavailable auction sales data providing a far more timely and accurate picture of California's foreclosure marketplace.

ForeclosureRadar(TM) is the first statewide foreclosure information service to track each and every foreclosure auction throughout the state on a daily basis. Other foreclosure listing services rely primarily on documents recorded at the county which delays the reporting of actual foreclosure sales trends by weeks or even months.

A total of 6,960 homes were sold at auction in June with a loan value of $2.83 Billion in California. Riverside County had the highest number of foreclosure sales at 1,093 properties and $523M in loan value. Los Angeles County was second in terms of volume, but after adjusting for population, ranked 34th in the State. Yuba, Sacramento and San Joaquin Counties ranked 2nd, 3rd and 4th highest respectively with Marin County having the lowest foreclosure rate in California. Foreclosures now represent 16% of all new and resale home sales in the state.

According to ForeclosureRadar founder Sean O'Toole, "Lenders are building a significant REO inventory. Since January 1, 2007, a total of 29,696 California properties have been returned to the lender for an astonishing total loan value of $12 Billion. This is unprecedented." In June alone 6,552 properties were returned to the lender for a total of $2.69 Billion.

California Foreclosure Statistics By County
Population
Rank County NDF NTS Sales Per Sale
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1 RIVERSIDE 2392 1337 1093 1,787
2 YUBA 71 38 31 2,252
3 SACRAMENTO 1367 782 613 2,260
4 SAN JOAQUIN 660 389 290 2,297
5 STANISLAUS 475 290 203 2,534
6 SUTTER 64 46 32 2,858
7 MERCED 153 58 84 2,938
8 CONTRA COSTA 833 423 337 3,055
9 LAKE 23 27 20 3,205
10 SAN BERNADINO 1862 959 609 3,271


I have told my clients the same thing for years now.
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Investing As An Important Way To Diversify Your Investment Portfolio."

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