There are two commercial properties in the numbers above--both of them apartment buildings in renovated section of Richmond.
1 comment:
Anonymous
said...
Hi Leisa.
I appreciate your keeping a regular tally of RTDs in your region. I’m a west-coaster (Encinitas) and the stats give me a bit of a feel for the east coast. In case you haven’t seen any recent reports on foreclosure rates in California, here is a summary of a DataQuick news release dated January 28. The full article is located here: www.dqnews.com/RRFor0107.shtm. DataQuick compiles data for several regions around the country; links to those pages are included on the page with the article.
DataQuick reports that there are 7.87 million houses and condos in the California.
Mortgage default notices (notices of default--NODs): Q4 2006: 37,273: up 39.9% qoq; up 145.3% yoy Q3 2006: 27,218 Q4 2006: 15, 196
This is the largest number of notices since Q3 1998.
There is a detailed table of NODs by county/region in the full article.
Some excerpts from the report:
"Several factors are at play here. The numbers last year and the year before were very low because of strong sales and appreciation. Also, most defaults occur a year or two after the loan was made, so we're in a period where the loan pool is at risk. And then there are those inventive loans that have been made the last few years, where qualifying involves assuming more risk. We're in the midst of an adjusting market right now, and we won't know until spring or summer if this is ominous or not," said Marshall Prentice, DataQuick's president.”
“Most of the loans that went into default last quarter were originated between January 2005 and February 2006. The median age was 15 months.”
“On primary mortgages, homeowners were a median five months behind on their payments when the lender started the default process. The borrowers owed a median $10,555 on a median $324,000 mortgage.”
“On lines of credit, homeowners were a median six months behind on their payments. Borrowers owed a median $3,582 on a median $60,000 credit line. However the amount of the credit line that was actually in use cannot be determined from public records. “
There are two commercial properties in the numbers above--both of them apartment buildings in renovated section of Richmond.
1 comment:
Hi Leisa.
I appreciate your keeping a regular tally of RTDs in your region. I’m a west-coaster (Encinitas) and the stats give me a bit of a feel for the east coast. In case you haven’t seen any recent reports on foreclosure rates in California, here is a summary of a DataQuick news release dated January 28. The full article is located here: www.dqnews.com/RRFor0107.shtm. DataQuick compiles data for several regions around the country; links to those pages are included on the page with the article.
DataQuick reports that there are 7.87 million houses and condos in the California.
Foreclosure sales (Trustees deeds):
4Q 2006: 6,078: up 76.9% qoq; up 595.4% yoy
3Q 2006: 3,435
4Q 2005: 874
historical peak: 15,418, 3Q 1996
historical low: 637, 2Q 2005.
Mortgage default notices (notices of default--NODs):
Q4 2006: 37,273: up 39.9% qoq; up 145.3% yoy
Q3 2006: 27,218
Q4 2006: 15, 196
This is the largest number of notices since Q3 1998.
There is a detailed table of NODs by county/region in the full article.
Some excerpts from the report:
"Several factors are at play here. The numbers last year and the year before were very low because of strong sales and appreciation. Also, most defaults occur a year or two after the loan was made, so we're in a period where the loan pool is at risk. And then there are those inventive loans that have been made the last few years, where qualifying involves assuming more risk. We're in the midst of an adjusting market right now, and we won't know until spring or summer if this is ominous or not," said Marshall Prentice, DataQuick's president.”
“Most of the loans that went into default last quarter were originated between January 2005 and February 2006. The median age was 15 months.”
“On primary mortgages, homeowners were a median five months behind on their payments when the lender started the default process. The borrowers owed a median $10,555 on a median $324,000 mortgage.”
“On lines of credit, homeowners were a median six months behind on their payments. Borrowers owed a median $3,582 on a median $60,000 credit line. However the amount of the credit line that was actually in use cannot be determined from public records. “
Hope this is useful. Thanks for blogging.
JimS, Encinitas
Post a Comment