defaults: Kern County End of Year Foreclosures Update - 01/19/09 12:11 PM
As an appraiser in Bakersfield, the rate of foreclosures is an important statistic to watch for our market conditions. Again, for the purposes of this post, foreclosures are considered to be those properties where a Trustee's Deed has been recorded, indicating that the lender has taken possession of the property. In November we posted that the rate of foreclosures in Kern County, CA was on the decline. Well, the decline came to a soft stop. The foreclosure rate inched up in November to 550 from 520 foreclosures in October. Not too bad. Well below the high of 1,000 in August. However, … (1 comments)
defaults: Foreclosures on the Decline in Kern County - 11/18/08 12:31 PM
First of all, when I say foreclosure, I'm referring only to those properties where a Trustee's Deed has been recorded, or if it is on the market, is listed as an REO. Based on my data compiled from local listing services and the county recorder, the number of foreclosures has been declining for the past two months. That's not a significant amount of time, but it rules out that the first month decline was a fluke. For 23 months the number of foreclosures recorded each month were steadily increasing. September was the first month with fewer foreclosures than the prior month. … (0 comments)
defaults: Will the bleeding ever stop? - Foreclosures and Defaults in Kern County - 07/10/08 01:44 AM
If defaults and foreclosures don't slow down, falling home prices won't stabilize anytime soon in Kern County. Notices of default have been steadily increasing since May of 2005, and foreclosures have been increasing since July of 2006. From May 2005 to July 2006, most homeowners in dire straits could probably either refinance with a little equity, or sell before getting upside down. In May 2005, there were 242 Notices of Default recorded. The following May there were 572. In May of this year, there were 1,272. More and more homeowners are falling behind which means we will continue to see the staggering number of foreclosures. … (0 comments)
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As an appraiser in Bakersfield, the rate of foreclosures is an important statistic to watch for our market conditions. Again, for the purposes of this post, foreclosures are considered to be those properties where a Trustee's Deed has been recorded, indicating that the lender has taken possession of the property. In November we posted that the rate of foreclosures in Kern County, CA was on the decline. Well, the decline came to a soft stop.
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