Pre-foreclosure activity in San Francisco has dropped from 576 properties in the pipeline in June to 549 today, 32 percent of which are in District 10*, down from 34 percent in January but up from 30 percent in March.
That being said, the number of properties actually scheduled for auction has remained relatively flat over the past two months at 691 today versus 689 in June, 43 percent of which are in District 10 (versus 41 percent in June).
And once again, while 39 percent of San Francisco foreclosures last year were in District 10, that’s down from 48 percent in 2009, and down from 58 percent in 2008.
Editor’s Note: In an attempt to match and map two disparate data sets, we include 94124, 94134 and 94112 in “District 10,” which results in a slightly larger area than the District as defined by the San Francisco Association of Realtors.
Scheduled Auctions Up, But Pre-Foreclosure Activity Ticks Down In SF [SocketSite]
San Francisco Bucks CA Foreclosure Trends, But Not In A Good Way [SocketSite]
San Francisco Foreclosure Activity Climbs Outside Of District 10 [SocketSite]
San Francisco Association Of Realtors New Neighborhood Map [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by tipster

    My friends who haven’t made a payment since 2008? Still own the place.
    Banks are in no hurry to recognize the loss, they can borrow all the money they want for 0% interest, and no one else wants them to lend them the money anyway, so why should they recognize the loss when it costs them nothing to let it sit.

  2. Posted by A.T.

    This is the main reason the shares of the big banks have fallen by about 25-30% in the last few weeks. Nothing has really changed, but suddenly investors again seem to recognize that the banks’ balance sheets are a bunch of bunk. They are still carrying wildly inflated values on their books for millions of delinquent loans which, if properly valued, leave them tens of billions of dollars short. There is no quick fix for this.

  3. Posted by lol

    Yeah, that’s called the Zombification of banks, like Japan in the 90s-naughts.
    Banks are shored up by the government from all sides. They move around like actual living entities, but they cannot function in a normal environment.
    If they went back to normal business they’d fall apart limb by limb.
    But then again, bankers do not care, as long as they still have taxpayer bonus/brains to eat.

  4. Posted by Time for QE3

    where is the best place to see scheduled foreclosure auctions?

  5. Posted by sfrenegade

    “where is the best place to see scheduled foreclosure auctions?”
    Usually at the courthouse. :p

  6. Posted by inclinejj

    NOD’s are picking up again.Get ready for the next wave of foreclosures this fall-winter

  7. Posted by inclinejj

    130 postponed sales that I looked at last week.
    Banks are best at “kick the can down the road” lets postpone all these August sales into September and deal with it then.
    They must have learned that trick from Goverment. Kick the can down the road and let the next guy worry how to pay for all these debts we have run up

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