Wednesday, September 26, 2007

CA Foreclosures up 300%

From the Central Valley Business Times:

California foreclosure filings were up a dramatic 300 percent in August, compared to the same time last year, according to Default Research Inc., a Mt. Pleasant, Pa., foreclosure information company

Kern County reported 911 foreclosure notices last month, compared to 238 a year earlier.

6 comments:

Realestateslasher said...

F.H.A please come to the rescue
1% down 5%fixed 50 year term seller
pays all concessions max loan 450k
.25% Mi. For kern co. buyers


All in favor say eye.

Realestateslasher said...

C&C none of this action
for you, live by the Sub Prime,
Die by the Sub Prime


Rest in Peace

Anonymous said...

Many of these foreclosures could be avoided if it weren't for the greedy realwhores.

There was a property that went into foreclosure last week. I called on it too late. The owner was in default on a $56,000 first trust deed. Anyone want to guess what the list price was? $165,000. Based on my own MLS search, not a single, comparable home within a one mile radius had sold anywhere near $165,000.

The home was previously listed for as high as $200,000.

Now I understand that a listing agent wants to start high and reduce to market.

But given the imminent threat of foreclosure, why wouldn't they just sell it at breakeven.

It's retarded. Each day I become more and more baffled by the stupidity of the people participating in this market.

Trent said...

I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 9 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low... in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.

wannabuy said...

Am I the only one who finds the 911 figure for foreclosures ironic?

Got popcorn?
Neil

Realestateslasher said...

Wannabuy

If you want to buy,
I have popcorn for you.
Would you like pepsi with that order? Just for you, I have homes
slashed up to 50% off retail...