January 7, 2009
Bay Area Notices Of Default: Another Source, The Same Story
"Notices of defaults (the first step in the foreclosure process) and notices of trustee sales (which often but don't always lead to actual foreclosures) reached 525,356 in 15 California counties last year, reported [Default Research Inc]. In the Bay Area counties of Alameda, Contra Costa, San Francisco and Solano, the annual total climbed 180 percent to 85,381."
First Published: January 7, 2009 6:15 AM
Comments from "Plugged In" Readers
Not sure how accurate or up to date the info is but I had fun the other day playing with the Comicle's foreclosure database. Was interesting to sort by zip code and see how many places in my hood were bought back by the bank. It only looks like to goes back to July 2008 for SF though.
Posted by: Rillion at January 7, 2009 8:55 AM
where are all the foreclosures in real sf?
i guess we'll have to wait for the alt-a resets?
Posted by: paco at January 7, 2009 9:28 AM
The good news is that SF's foreclosure rate is still relatively low. For example, the ratio of 2008 foreclosures to annual sales (2007) is 2.8x higher in Santa Clara County than in San Francisco County.
The bad news is that Santa Clara County has jumped 2.5x in just the last year alone. In other words, San Francisco County in Jan 2009 is at roughly the same place that Santa Clara County was in Jan 2008.
Posted by: gmh at January 7, 2009 9:42 AM
That site doesn't have 94123 on it, what gives?
Posted by: lolcat_94123 at January 7, 2009 4:59 PM