Big Bear Lake Foreclosure Data, Listings, and Trends for March 2011
May 17, 2011
92315 Foreclosure Data, Listings, and Trends
ForeclosureRadar offers the most comprehensive and accurate foreclosure data for the 92315 ZIP code. We track each foreclosure from notice of default, through every postponement at the trustee sale. Because we track the actual auction, unlike other services, we can tell you about new bank owned properties weeks before anyone else. Find free foreclosure trends and foreclosure listings below for the 92315 ZIP code. For more information on specific foreclosure properties we recommend working with a local Realtor® that uses ForeclosureRadar.com, or subscribing to ForeclosureRadar.com, the professional’s foreclosure service.
92315 Foreclosure Trends
Foreclosure Filings—Notice of Default filings are the first step in the foreclosure process. Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowner’s final notice before sale.
Foreclosure Outcomes—After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be Cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements. Alternatively, if the property is taken to sale, the bank will place the opening bid. If a 3rd party, typically an investor, bids more than the bank’s opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that bank’s REO inventory.
Foreclosure Inventories—Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.
Foreclosure Bids—The Published Bid is the amount listed in the Notice of Trustee Sale and is typically the balance due at the original date of sale. The Opening Bid is the bank’s starting bid at auction, and is often discounted from the Published Bid. The Winning Bid is the highest bid received at auction and reflects the amount at which the bank or 3rd party purchased the foreclosure.
Foreclosure Discounting—This chart compares the winning Bid Amount of properties sold at trustee sale to both the outstanding Loan Amount, and the current Market Value. Banks place an Opening Bid for each property and if a 3rd Party does not make a higher bid, the property will be sold Back to Bank (REO) for the Opening Bid amount. Properties Sold to 3rd Parties will typically have Winning Bids with deeper discounts to both Loan Amount and Market Value as only low Opening Bids will attract investor interest.
Time to Foreclose—The average number of days between the filing of the Notice of Default and the final sale at auction for foreclosure sales that occurred during the specified month. Time to Resell—The average number of days between the final sale at auction and when the property was resold by the bank or 3rd party.
Filings By Number of Bedrooms—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the property’s number of bedrooms.
Filings By Square Foot—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the size range of the property in square feet.
Filings By Year Built—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by when the property was built.
Filings By Est. Market Value—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the estimated market value of the property in foreclosure.
Filings By Loan Balance—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the balance of the loan in foreclosure.
Filings By Loan Origination Date—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the quarter and year in which the loan was originally made.
Market Specialist, Inventory Expert,
Big Bear Real Estate Agent
The Tim Wood Group
42153 Big Bear Blvd.
P.O. BOX 6820
Big Bear Lake, CA 92315
909 866-3481 EXT. 217
CELL 909 725-5889
Fax 909 866-3531