Notice of Trustee Sale filings rose 34.7 percent from October to November in California. The increase came primarily from filings by Bank of America, up 52 percent, and Wells Fargo, up 23 percent. It is not unusual to see an increase in foreclosure sales each January, and these filings would be necessary in preparation for that.
Sales to 3rd parties, typically investors, have increased significantly year-over-year. The largest increases we're seen in Arizona and Nevada at 101.6 and 79.9 percent respectively. Other states saw increases as well: California 29.4 percent and Washington at 6.7 percent.
"It's great to see the banks slow down foreclosures and evictions for the holidays." stated Sean O'Toole, Founder and CEO of ForclosureRadar. "We expect that the numbers will drop even further in December. Come January, it will be back to business with at least a small surge as banks play catch up after the delays."
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| CALIFORNIA'S FORECLOSURE MARKET | |||||||
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| NEVADA'S FORECLOSURE MARKET | |||||||
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| OREGON'S FORECLOSURE MARKET | |||||||
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| WASHINGTON'S FORECLOSURE MARKET | |||||||
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