Today’s OC Register lists the rising foreclosure rates.
QUOTE
Orange County foreclosures rise sharply
By JEFF COLLINS
The Orange County Register
Orange County’s foreclosures nearly doubled in June, rising to 65 property sales from 35 in May, according to RealtyTrac Inc.’s monthly foreclosure report.
Overall, foreclosure activity, including default warnings to delinquent homeowners, was up 60 percent last month, the report shows.
The county had 639 new foreclosure filings last month, up from 399 in May, RealtyTrac reported. That includes 574 default notices issued to homeowners behind in their monthly loan payments.
Orange County’s increase in foreclosure activity was the highest in the area. Los Angeles County’s activity was up 15.7 percent; Riverside County’s was up 25 percent; and San Bernardino County’s was up 11.7 percent, RealtyTrac reported.
One out of every 1,517 Orange County households entered some stage of foreclosure, higher than Los Angeles County’s rate for the first time this year. Los Angeles County’s rate was one out of 1,856 households.
Riverside County had one new foreclosure filing for every 438 households, the area’s highest ratio and the third-highest in California.
END QUOTE
Does anybody have figures on the ratio of foreclosures & filings to home sales. I know June, OC had 3300 sales so 65 property sales isn’t much. However, we have 639 new foreclosure filings, that represents 20% of the monthly sales.
In the process of foreclosure, of the 639, is that pre-lien, lien, NOD, or notice of sale? The 65 property sales are Trustee sales correct? Bank REO would show as part of the 3300 regular sales, right?
7-13-06…1 in 14.2 homes for sale are bank owned at the moment in city of Temecula per http://www.realitytrac.com. 102 Bank owned/1453 for sale per Zipreality.
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