The latest South OC stats from ForeclosureRadar show new notices of default and the number of foreclosure properties that went back to the bank during the month of June decreased from May's totals - but they were still significantly higher than the totals from a year ago. The South Orange County numbers mirrored those of Orange County as a whole.
Here are the notice of default numbers for June 2008:
These are the REO stats - properties that went back to the bank at auction:
Image credit: Steve Rhodes
Tuesday, July 15, 2008
Foreclosure stats, June 2008
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6 comments:
Foreclosures also present a great opportunity. If you can get into pre-foreclosures and negotiate something with those motivated sellers you have a great opportunity to help someone out while helping yourself out. There's an incredible site by PropertyMaps that lists pre-foreclosures that's been a great help.
So realtors have found the blogs now, huh?
What's up with Laguna Niguel being hit with so many foreclosures? Seems like they shouldn't be so much different than some of the neighboring communities.
dear eddie carr,
just because it is a foreclosure doesn't mean it is "great opportunity" as an investment. these can be two totally different, exclusive things. sounds kind of like you are spamming by listing that link, anyway. but just for the record, "foreclosure" does not equal "sound investment".
How can one look up if the home they are renting has had a Notice of Default filed? South OC Real Estate Tracker, do you know? Thanks!
How can one look up if the home they are renting has had a Notice of Default filed? South OC Real Estate Tracker, do you know? Thanks!
Notices of default are public records, so you are entitled to be able to look them up. You can look the property up through the Clerk-Recorder's office. Another option is to try a free trial of a foreclosure service like ForeclosureRadar or RealtyTrac - but beware some are slower to update than others.
What I can't believe is why people just don't Stop Foreclosure before it starts. What amazes me is so many people just give up on their home when they could save it. The problem is people dont know about places like Loan Resuce Programs and just figure they are in a hole. I know until I ran into them I didnt have a clue services like this existed either.
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