Thursday, December 06, 2007

Foreclosures reach a new record. $2.1 billion of defaults so far this year!

Looks like the "bailout" is going to be another Bush/Clinton failure.

We have now set a new record for foreclosures. From the Bakersfield Californian:

Some 412 Kern properties foreclosed last month, by far the most in a single month since the county began tracking filings in 1995, trustee’s deeds recorded with county officials show.

Likewise, 985 default notices were sent to property owners in November, a number that also sets a new monthly record. The filings were up from October numbers, which totalled 372 and 945, respectively. October’s filings were new records at the time.

A year ago November, trustee’s deeds and default notices stood at 78 and 382, respectively.

The PDF files are here for foreclosures and here for NOD's.


Ichabod said...

Bye bye Alliance Title!

:-( )

johnnyd said...

Bakersfield Bubble: Can you point me to good monthly sources that have accurate Trustee Sale numbers, Foreclosure numbers, etc? I am trying to do monthly charts much like the two you pointed us to at the Bakersfield Californian site. Thanks for any direction you can give me. I would be happy to send you my work as it is completed each period. Sincerely, John D., MoneyWiseGuys.Com

Bakersfield Bubble said...

The county maintains the numbers the Californian has linked to. They should be available on their website or by contacting them.

You can call the local title companies and ask to be put on their weekly NOD and NOT lists. They send those out each week via email and they are free. They will give you them for just about any county in the state.

johnnyd said...

Thanks Bakersfield Bubble. I looked through the County website and couldn't find any of the information there - I will contact them in person. I hadn't thought about getting on the title companies e-mail lists and will attempt to do so. The two charts that you have linked are two of about four or five I had in mind. I want to keep my eyes on the trend the best we can. Thanks again, Johnny D. MoneyWiseGuys.Com