kern county: Rate of Foreclosures in Kern County Holding Steady...so far!
- 03/13/09 08:59 AM
Last year ended with a record number of foreclosures throughout the nation, and Kern County was no exception. See my year-end summary for detailed numbers. so far this year has been remaining fairly stable with a sharp decline from December's 663 recorded Trustee's Deeds to 487 in January. February finished with 603 foreclosures. So, the overall rate has been fairly stable since October had 520 foreclosures, but this is the same time last year that the steep climb in foreclosures began. 2008 started with 512 foreclosures in January and continued to climb until peaking in August. That rate had been increasing … (1 comments)
kern county: Kern County End of Year Foreclosures Update
- 01/19/09 04:11 AM
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)
kern county: Foreclosures on the Decline in Kern County
- 11/18/08 04:31 AM
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)
kern county: Will the bleeding ever stop? - Foreclosures and Defaults in Kern County
- 07/09/08 06:44 PM
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)
kern county: Record Mortgage Defaults in California
- 10/28/07 09:51 AM
As most of you have probably heard, there was a record number of defaults in the third quarter this year. I expect teh susequent quarters to be even worse. October and November are expected to have the largest number of ARM resets which will probably result in additional defaults beginning in December and January. In Kern County there are currently over 4,000 properties in some state of foreclosure or pre-foreclosure. California is forecasted to have 191,000 foreclosures over the next two years according to a study release by the Senate Joint Economic Committee, so Kern County will get worse before it gets better. … (0 comments)
kern county: Kern County market conditions
- 10/25/07 11:00 AM
The average price per square foot in Kern County peaked in 2006 around $183. As of last month, the average has dropped to $151. That's a decline of nearly 17.5% over the past year. We've been on a steady decline for the past 6 months losing about 1.5% each month. These figures are still higher than what the average price per square foot was in March 2005. If you bought before that time, then theoretically you should still be in the positive, but keep in mind that this is a countywide average and the actual change in a particular neighborhood might … (1 comments)
Last year ended with a record number of foreclosures throughout the nation, and Kern County was no exception. See my year-end summary for detailed numbers. so far this year has been remaining fairly stable with a sharp decline from December's 663 recorded Trustee's Deeds to 487 in January. February finished with 603 foreclosures.
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