For more detail of the month to month activity of foreclosures in Ventura County for 2010, you’ll see on the monthly chart that Notice of Defaults and Notice of Trustee Sales are again on the upswing and the Trustee’s Deeds (foreclosure complete) have a bit of fluctuation.

However, stepping back and looking at the broad trend of foreclosure activity on a quarterly basis since 2005 in Ventura County, the number of foreclosed homes is on the downward trend.  There were two spikes in the number of foreclosures both in the March and June quarters of 2008 with an even stronger spike in 2009. Check this out on quarterly chart!

Foreclosure stats are in for November for Ventura County. The quarterly graph tracks foreclosures since March of 2005. Check it out!

The 12 month graph shows the Notice of Default trending upward a bit while the Notice of Trustee Sales jumped from 407 to 578 in November. The Trustee’s Deeds (REOs) are trending slightly downward.

Ventura county foreclosure stats are in for October and the numbers are dramatically down from September – most likely due to the lenders’ moratorium. Check out the graphs for quarterly comparison since 2005 and the 12 month chart.

The downturn has produced an unprecedented number of foreclosed commercial properties in Ventura County covering all asset types from hospitality to industrial and office condos. Investors looking for value are taking advantage of higher capitalization rates, and business owners are finding that substantially lower acquisition price points (combined with low SBA financing rates) are making ownership vs. leasing a smart financial option. Here are a sampling of specific properties in various asset classes that have reverted back to their lender this year:

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The number of foreclosures has been big in the news but what Ventura County residents really care about is what’s happening locally – not in another county or another state.  See the chart for the last 12 months. The Notice of Defaults and Trustees Deeds are on the rise, while the number of Trustee Sales is trending downward

The quarterly chart shows NODs on the rise, NTSs are see-sawing and REOs are rather flat.

Data courtesy of Foreclosure List Service.com.

Everyone interested in real estate has heard by now that Bank of America has temporarily suspended all foreclosures in the country, and other banks have suspended foreclosures in states that have judicial foreclosures (like Florida). I’ve been asked over the past few days how and if this affects us in California. The short answer is – not really. Here’s the rest of the story…

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The updated Ventura County foreclosure stats for July are in and the chart can be previewed by clicking here. You can also preview the quarterly chart ending with June ’10 going back quarterly since 2005.

The first stage of foreclosure is the Notice of Default where the borrower has 3 months to bring any back payments current. For July, the number of defaults is holding steady at about 500 for the month.

The second stage is the Notice of Trustee Sales when a sale date is set. The number of NTSs for July is down from the spike in June to the mid-500s.

The third stage is the Trustee Deeds where the property has gone back to the bank or investor bought. The number for July is on a slight downward trend in the low 200s.

The number of homes in Default (the first stage of foreclosure) has been on the decline since previous highs with a few exceptions, while the number of  Notice of Trustee Sales and Trustee Deeds have been on the rise. This is partly due to banks unloading their shadow properties.  See for yourself this trend on the Quarterly chart of Ventura County Foreclosure Statistics since 2005.

There are several factors in play – there are more fixed rate loans than the subprime loans of yesteryear; home prices have stabilized and are on the rise in Ventura, Oxnard and Camarillo; and the HAFA program is available with a $3,000 relocation incentive for the home owner to do a preapproved, streamlined short sale.

If you’re interested in the HAFA program (Home Affordable Foreclosure Alternative) – give us a call or comment on this site!

A new feature we now provide, along with all the housing stats, are foreclosure stats for Ventura County in two time categories:

1. The last 12 months
2. Per quarter since 2005

The trends are covered for the three foreclosure reports – Notice of Default (NOD), Notice of Trustee Sales (NTS) and Trustee Deeds (REO).

You’ll be amazed to see on the year to end and quarterly charts the dramatic changes and sometimes violent activity!

Data is used with permission from Foreclosure List Service.

Click on the picture to view a video PowerPoint about the U.S. Treasury Department’s just announced streamlined short sale process for homeowners struggling under their mortgage payments.

The government has tried stemming the flood of foreclosures – primarily through the HAMP program – but it’s only been marginally successful. To avoid foreclosure, thousands of homeowners have attempted to do short sales, but that process has been cumbersome, time consuming for both buyers, sellers and agents, and highly frustrating for all parties.

To solve those problems, the HAFA program provides a clear path for homeowners to do a pre-approved short sale. Listen to this video PowerPoint for an overview of the program.