The number of properties making it to the court house steps is on the rise – there has been a 50% increase roughly in SD County trustee-sales since the end of June (from 200 to 300). It’s still a pittance, however, compared to the 14,493 properties in default in San Diego County:
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The SFR trustee sales in the North SD County Coastal region have been fairly steady however – no big spikes yet. There has been an average of seven SFRs foreclosed per week over the last 12 weeks (avg of 2 of 7 bought by third-parties), even though there are 608 on the NOD/NOT lists. Are servicers trying to squeak out every last loan mod they can find, or deliberately holding back?
North San Diego County Coastal Trustee-Sale Results, SFRs-only:
It appears that the servicers are managing the drip very carefully for the higher-end properties, but if there are any surges, you’ll see them here!
JtR,
Here in LA, the numbers of cancellations finally appear to be declining, and on some days the numbers of properties actually auctioned are above the numbers cancelled. By October, I think we will be back to 80-84% postponed each day, with 8-10% sold and 8-10% cancelled. A fair number of sales that were cancelled back in May are being renoticed now for October and November dates – presumably failed mods.
A while ago Jim was nice enough to mail me a BubbleInfo t-shirt. I promised him I’d where it at the Phoenix trustee sale auction.
So here’s a link to a picture of the shirt and my video of the Phoenix auction (it is very lively compared to any other market).
Phoenix Foreclosure Auction
The competition at the auction is amazing compared to just last year. I think Clearfund made some mention of this a little bit ago. It is true.
Hey David-
Do you know Randy? He is the guy in the Black Golf Shirt with Green Shorts at around the 1:10 mark of your video–He is one of the regulars, real nice guy–out there everyday!