Just minutes ago the Sacramento Housing and Redevelopment Agency released this fourth quarter 2008 look at foreclosure activity in Sacramento County.
These reports are worth it just for the maps.
Highlights of the report include:
· Both NOD and REO filings countywide dropped significantly from the third to the fourth quarter of 2008. We believe this is partly due to the continued effect of SB 1137 to delay foreclosure filings, as well as a voluntary moratorium on foreclosures by some lenders.
· Even though NODs declined in total from the third to the fourth quarter, weekly filings of NODs have in fact been rising steadily from their low in early September. Also, the prospect of variable loans resetting and a continued economic downturn suggest that the recent downward trend in foreclosure filings will reverse in the near future.
· Foreclosure filings have declined everywhere in the County. The County's lowest-income communities continue to have the highest foreclosure rates. However, foreclosure filing declines in some areas of North Natomas have not been as rapid as declines elsewhere, causing several North Natomas neighborhoods to rise in the foreclosure rankings.
Who is sitting on the most bank-owned property? The top five owners of foreclosed properties in the county, in order, were US Bank, Indymac, Deutsche Bank, Wells Fargo and Wachovia.