From: Lori Guyton [lguyton@cvic.com]
Sent: Monday, June 08, 2009 12:50 PM
To: Wasserman, Jim - Sacramento
Subject: Sacramento-Arden-Arcade-Roseville Real Estate News and Trends
First American CoreLogic Sacramento--Arden-Arcade--Roseville Housing Update
June 8, 2009 A real estate report by First American CoreLogic on home sales, price trends, and foreclosure activity
More information about First American CoreLogic can be found at www.facorelogic.com/newsroom/newsroom.jsp.
 
Contact: Lori Guyton (901) 277-6066 lguyton@cvic.com

 FORECLOSURE ACTIVITY


Location 90+ Day Delinquency Rate April 2009 90+ Day Delinquency Rate April 2008 Change in 90+ Day Delinquency Rate Foreclosure Rate April 2009 Foreclosure Rate April 2008 Change in Foreclosure Rate REO Rate April 2009 REO Rate April 2008 Percentage Point Change in REO Rate Current 12-Month Cumulative Foreclosure Filings Year Ago 12-Month Cumulative Foreclosure Filings
California 7.08% 5.56% 1.52% 1.90% 2.03% -0.14% 1.55% 1.36% 0.19% 845,714 519,332
Sacramento--Arden-Arcade--Roseville, CA 6.78% 6.48% 0.30% 1.91% 2.26% -0.36% 1.29% 1.81% -0.52% 74,348 51,307
US 5.1% 3.9% 1.2% 1.8% 1.5% 0.3% 0.7% 0.7% 0.0% 3,782,236 2,525,181

Source: First American CoreLogic.

Foreclosure Rates in Sacramento--Arden-Arcade--Roseville Decrease

map Foreclosure rates in Sacramento--Arden-Arcade--Roseville have decreased for the month of April over the same period last year, according to First American CoreLogic, the leading collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity.

According to recent data from First American CoreLogic on foreclosures for the Sacramento--Arden-Arcade--Roseville area, the rate of foreclosures among outstanding mortgage loans is 1.91 percent for the month of April, a decrease of -0.36 percentage points compared to April of 2008 when the rate was 2.26 percent.* Foreclosure activity in Sacramento--Arden-Arcade--Roseville is higher than the national foreclosure rate which was 1.8 percent for April 2009, representing a 0.11 percentage point difference.

Also in Sacramento--Arden-Arcade--Roseville, the mortgage delinquency rate has increased. According to First American CoreLogic preview data for April 2009, 6.78 percent of mortgage loans were 90 days or more delinquent compared to 6.48 percent for the same period last year, representing an increase of 0.30 percentage points.*

Foreclosure Filings

During the past 12 months, from May 2008 to April 2009, there was a total of 74,348 foreclosure filings in Sacramento--Arden-Arcade--Roseville, or approximately 203.69 per day. That compares to the previous 12-month period of May 2007 to April 2008 when there were 51,307 foreclosure filings, or approximately 140.57 per day.

Public record foreclosure filings include the three steps in the foreclosure process beginning with the pre-foreclosure filing or Notice of Default (NOD), which typically occurs after the 90-day delinquency period, the Notice of Foreclosure Sale when the property is scheduled for auction; and the Notification of Sale filed after the property is sold at auction. If the property isn't sold at auction, it goes back to the lender and is considered Real Estate Owned (REO). Because data is collected from public records, it is subject to limitations with regard to geographic coverage and differences in how various municipalities record foreclosure filings.

Foreclosure data for First American CoreLogic is reported based on the actual number of active mortgage loans rather than the total number of households in a given area, which provides more accurate results by removing paid-in-full mortgages from the equation.

For detailed information on foreclosures by zip code and property, visit www.realquest.com.

* Data and percentage point differences are rounded to the nearest tenth and may appear to affect calculations.