Rate of Foreclosures in Kern County Holding Steady...so far!

Real Estate Appraiser with Fariss Appraisal Services

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 ever since October 2006 though, so we may not see the same pattern this year.

Many analyst believe that we are in store for a new wave of foreclosures, so the uptick in February this year may be an indicator of things to come. We'll see how March pans out. 

The Bakersfield Appraiser

Comments (1)

Rita Bradley
Laguna Hills, CA
Valuation Consultant in Orange County California 949-916-3263

With a government mod program in place as well as investors buying up loans and modding them, we should see some slowdown in foreclosures. Rita

Mar 14, 2009 03:34 PM