      
 Inland Foreclosures Drop 8% in JanuaryPublished: Friday, February 13, 2009 January sales numbers continue to be analyzed and according to reports from market analyst DataQuik, inland Southern California foreclosures have dropped 8% from December, however are still up 40% from a year ago. Nationally foreclosure activity is down 10% but remains up over 35% from January, 2008. Experts in Riverside County foreclosures and San Diego bank homes, two of California's hardest hit areas, suggest the decline is a result of new federal guidelines requiring banks to take extra steps to help borrowers, while others think the slide is temporary and with the economic stimulus package approved by Congress this week including no new funding for mortgage lenders, could increase dramatically in the next few months. Real Estate Auctions Affected by Fewer ForeclosuresWith fewer foreclosures hitting the lenders' REO properties department, it could translate into fewer foreclosed home auctions. Home auctions are a key strategy used by the banks to clear their bank owned inventories quickly without having to list the properties with various real estate services companies across the region. Foreclosed home auctions are one of the best ways for home buyers to get terrific deals on foreclosed homes as well, with banks offering financing on the spot to help get these REO's off their books. But with fewer homes to sell, agents could see a rise in foreclosure listings. Riverside County Foreclosures, San Diego Foreclosures Still High Enough to AuctionDon't look for a slowdown in auction activity in foreclosure rich Riverside County or San Diego anytime soon, however. Over 25,000 bank owned properties remain the two county region and lenders will continue to use foreclosed home auctions as a quick and easy way to sell multiple properties in a single day. Check back often for updates on pending home auctions for key Murrieta foreclosures, Temecula bank homes, San Diego bank owned homes and beautiful French Valley foreclosures. Other Recent ArticlesHome Buyer Tax Credit Extended Until April, 2010Category: Recent Articles Published: Thursday, December 10, 2009 The federal tax credit has been extended to April, 2010, including an expanded benefit to existing home owners who sell their homes and then repurchase a new primary residence valued at $800,000 or less. This could be the perfect opportunity for buyers who wanted to cash in on home auction bargains but were fearful of lower resales on their existing homes. 57,000 Foreclosures Remain in California – Lenders Scheduling More Home AuctionsCategory: Recent Articles Published: Thursday, December 03, 2009 The Southern California foreclosures market may be shifting, with fewer homes entering foreclosure than in previous quarters. However there are still 57,000 existing foreclosures statewide that need to be sold, and lenders are looking at foreclosed home auctions as a major tool to sell large numbers of foreclosures in a short amount of time. Southern California Foreclosures Still the Bulk of Home SalesCategory: Recent Articles Published: Friday, November 27, 2009 Southern California foreclosures still account for the bulk of area homes sales and lenders are finding real estate auctions the fastest and most efficient method of clearing their books of REO properties. Buying a home at auction requires a little prep work, however and the experts at homeauctionexpo.com share their insight on how to find the best auction properties.  February 2009
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