Thursday, March 1, 2012

California Foreclosure Activity Down in 2011

Ingleside Terrace Homes

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 428,045 California properties in 2011, down 22 percent from a year ago and 32 percent below the level reported in 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Here are some of the most recent Investment opportunities in the area.

San Francisco Realtor
January 2012 U.S. Foreclosure Market Report: Frozen-Up Foreclosure Process Begins to Thaw

Foreclosure filings were reported on 210,941 U.S. properties in January, a 3 percent increase from the previous month but still down 19 percent from January 2011, according to the RealtyTrac U.S. Foreclosure Market Report. “Although overall foreclosure activity was down from a year ago for the 16th straight month in January, we continue to see signs on a local and regional level that the frozen-up foreclosure process is beginning to thaw,” said Brandon Moore, CEO of RealtyTrac.

The Road to Flipping 1,000 Homes
I have always been a bit of a gambler and come from an entrepreneurial upbringing; a childhood friend in the mortgage business asked me to head down to a local foreclosure auction and meet Mike Baird. I cautiously walked up the courthouse steps for the first time and inquired around for Mike so we could shake hands for the first time. I was not prepared for what I was about to witness; an ordinary and unassuming individual approached, proclaimed “buyer beware”, and start firing off addresses of properties impending sales at the auction. Where was the courtroom, the judge, a sheriff?

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