July 2010 there were 1168 homes for sale in Stockton, California in comparison to July 2011 where there was a decrease to 1053 homes for sale. The number of homes sold in July 2010 was 407 and in July 2011 the number of homes sold decreased to 354. In July 2010 there were 398 pending sales which increased to 544 in July 2011.
On Saturday, August 27, 2011 from 12:00 Noon to 4:00 PM, you are invited to our Open Office at 2652 East Main Street in Stockton. If you are looking for residential, commercial, or investment properties in this area, don’t miss this opportunity to visit and meet with Dave Thurman, REALTOR®. Appointments are not necessary!
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California
Foreclosure activity slowed again in July, except for a slight increase in Sold to 3rd Party auction sales on the courthouse steps. Notice of Default filings fell by 11.7 percent from June, and 30.6 percent from a year ago. Notice of Trustee Sale filings were down 5.4 percent from June, and have dropped 25.3 percent from July 2010. Cancellations decreased for the third consecutive month, with a 5.3 percent drop compared to June, and were down 32.0 percent year-over-year. Foreclosures going Back to Bank (REO) declined 4.0 percent from June, down for the second month in a row. Foreclosures Sold to 3rd Parties nudged up 1.2 percent from June, and are at the same level as this time last year. Time to Foreclose decreased slightly from June, down less than one percent to 313 days; although year-over-year remained up 19.5 percent. 3rd Party investors continue to resell inventory faster than banks, with the average at 131 days compared to the average Time to Resell for Banks at 235 days. View all California stats by state, county, city or ZIP
The above foreclosure report is emailed to me each month from ForeclosureRadar…please check out their excellent website at http://www.foreclosureradar.com
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June 2010 there were 1088 homes for sale in Stockton, California in comparison to June 2011 where there was a decrease to 1062 homes for sale. The number of homes sold in June 2010 was 496 and in June 2011 the number of homes sold decreased to 354. In June 2010 there were 430 pending sales which increased to 616 in May 2011.
Open House ~ My Office at 2652 East Main Street, Stockton CA 95205
Saturdays 11AM – 2PM and Monday Evenings 5PM – 7PM
You are invited to our Open Office at 2652 East Main Street in Stockton. If you are looking for residential, commercial, or investment properties in this area, don’t miss this opportunity to visit and meet with Dave Thurman, REALTOR®. Also, learn all about a Shaklee membership. Come Join Us! Appointments are not necessary!
Here is my latest foreclosure report from ForeclosureRadar. Please check out their website!
California saw slowed foreclosure activity across the board. Notice of Default filings fell for the third consecutive month after a slight 1.5 percent drop in June. Notice of Trustee Sale filings were down in June as well, with an 11.7 percent decline month-over-month and a 34.3 percent drop from June 2010. Cancellations of foreclosure sales decreased for the second time in as many months, with a 3.0 percent drop compared to May. Foreclosure sales on the courthouse steps were slower than the prior month, with 13.4 percent fewer sales Back to Bank and 7.1 percent fewer foreclosed properties Sold to 3rd Parties. For the first time in six months the average time to foreclose decreased, down 7.9 percent to 317 days month-over-month but remained up 21.5 percent as compared to this time last year. Third parties continued to resell inventory more quickly, with the time to resell down 1.5 percent month-over-month to 131 days, clearly outperforming banks, which took an average of one hundred days longer at 231 days to resell inventory (REO).
Here is an interesting article I found while searching the internet this evening.
Defaulted Owners Living Payment Free For…Years (and Years)
June 19, 2011
Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places.
In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.
Clearing the pipeline in New Jersey, which like New York handles foreclosures through the courts, would take 49 years. In Florida, Massachusetts and Illinois, it would take a decade.
In the 27 states where the courts play no role in foreclosures, the pace is much more brisk — three years in California, two years in Nevada and Colorado — but the dynamic is the same: the foreclosure system is bogged down by the volume of cases, borrowers are fighting to keep their houses and many lenders seem to be in no hurry to add repossessed houses to their books.
“If you were in foreclosure four years ago, you were biting your nails, asking yourself, ‘When is the sheriff going to show up and put me on the street?’ ” said Herb Blecher, an LPS senior vice president. “Now you’re probably not losing any sleep.”
When major banks acknowledged last fall that they had been illegally processing foreclosures by filing false court documents, they said that any pause in repossessions and evictions would be brief. All of the major servicers agreed to institute reforms in their foreclosure procedures. In April, the Office of the Comptroller of the Currency and other regulators gave the banks 60 days to draw up a plan to do so. [read more] Real Estate Insider News
May 2010 there were 980 homes for sale in Stockton, California in comparison to May 2011 where there was an increase to 1098 homes for sale. The number of homes sold in May 2010 was 411 and in May 2011 the number of homes sold decreased to 358. In May 2010 there were 422 pending sales which increased to 584 in May 2011.
