Hey Everyone,
OK, we have a trend. It looks like the second wave of foreclosures is starting to come through the door, gotta love those Alt-A failure rates. Both San Bernardino and Riverside counties logged the highest notice of defaults (NOD's) in March. The trend line is really picking up, if this continues for the next couple months the market will be flooded with new inventory.
The numbers of cancelations have increased about three fold from their lows but they are still very low, this is a sign that loan mods and work outs work for a very low number of those losing their homes.
Enjoy!
Empire Realty
| Riverside County |
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| NOD's - Notice of Default |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
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| 2006 |
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1,245 |
1,468 |
1,591 |
1,649 |
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| 2007 |
1,895 |
2,080 |
2,187 |
2,117 |
2,320 |
2,716 |
2,968 |
3,609 |
3,138 |
3,503 |
2,493 |
4,489 |
33,515 |
| 2008 |
5,384 |
4,449 |
5,384 |
5,221 |
5,385 |
5,111 |
4,935 |
5,340 |
2,025 |
2,040 |
2,670 |
4,937 |
52,881 |
| 2009 |
4,583 |
5,848 |
6,838 |
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17,269 |
| 2008 % Change M to M |
19.9% |
-17.4% |
21.0% |
-3.0% |
3.1% |
-5.1% |
-3.4% |
8.2% |
-62.1% |
0.7% |
30.9% |
84.9% |
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| 2008 % Change Y to Y |
184.1% |
113.9% |
146.2% |
146.6% |
132.1% |
88.2% |
66.3% |
48.0% |
-35.5% |
-41.8% |
7.1% |
10.0% |
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| 2009 % Change M to M |
-7.2% |
27.6% |
16.9% |
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| 2009 % Change Y to Y |
-14.9% |
31.4% |
27.0% |
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| NOS's - Notice of Sale |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
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| 2006 |
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461 |
539 |
699 |
742 |
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| 2007 |
881 |
1,040 |
1,242 |
1,080 |
1,580 |
1,423 |
1,693 |
1,708 |
1,866 |
2,515 |
2,240 |
2,894 |
20,162 |
| 2008 |
2,871 |
1,791 |
3,629 |
4,150 |
4,447 |
4,619 |
4,835 |
4,721 |
2,329 |
3,111 |
3,484 |
3,431 |
43,418 |
| 2009 |
3,132 |
2,575 |
3,909 |
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9,616 |
| 2008 % Change M to M |
-0.8% |
-37.6% |
102.6% |
14.4% |
7.2% |
3.9% |
4.7% |
-2.4% |
-50.7% |
33.6% |
12.0% |
-1.5% |
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| 2008 % Change Y to Y |
225.9% |
72.2% |
192.2% |
284.3% |
181.5% |
224.6% |
185.6% |
176.4% |
24.8% |
23.7% |
55.5% |
18.6% |
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| 2009 % Change M to M |
-8.7% |
-17.8% |
51.8% |
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| 2009 % Change Y to Y |
9.1% |
43.8% |
7.7% |
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| Data Source: foreclosureradar.com - Analysis Empire Realty |
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| Cancelation of Auction |
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Empire Realty is your real estate source for useful and money saving information.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing or listing your next home in Upland, Rancho Cucamonga, Alta Loma, La Verne, Mira Loma, Riverside, Corona, Chino, Chino hills, Ontario, Claremont or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
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1 Comments on Here comes the second wave - Riverside Foreclosures
Leave a response…
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;)
;)
well that's not very good news, I have noticed some positive things happeninglately. I'm hopping we can build some momentum =;
Chad