Danville CA Foreclosure Trends | December 2012

By vnagy_dan • January 15th, 2013

Danville CA Foreclosure Homes for Sale Trends December 2012

The Danville CA foreclosure trends for December 2012 showed a small uptick in foreclosure filings, up 7.69% from November 2012 and sharply down -50.0% from December 2011. Foreclosure filings occur when a Notice of Default (notice of non-payment) is issued. The Notice of Trustee Sale (which indicates that a Trustee Sale Date has been filed and scheduled for sale at the county auction) shows that Notices of Trustee Sale are strongly down -29.41% from November 2012 and down -31.25% from December 2011.

Homes must transition through a Trustee sale to complete the foreclosure process. In California, an owner purchases the home, the bank funds the loan, but title is held by a 3rd party entity (a Trustee). The property must go through the auction process unless the owner does a voluntary foreclosure (deed-in-lieu). The bank will submit a reserve bid to the auction, and if the reserve is exceeded, the home will be sold to the private party with the highest bid.

Danville CA Foreclosure Trends | December 2012

Danville,CA – Foreclosure Filings

Buying a home for sale in Danville CA (or any other area) at the Trustee Sale is a higher risk proposition that purchasing the home once the bank has taken title back and lists it as an REO. Trustee Sales require all cash, which eliminates a large number of potential buyers right off the bat. However, even those with all cash can be reluctant to buy as there is not title insurance on these sales, and no inspection contingency.

See all single family homes for sale, REOs in Danville CA. See all single family bank owned homes listed for sale where you can potentially get a loan, have title insurance, inspection and appraisal contingencies.

See all condos and town homes for sale, REOs in Danville CA. See all condos and town homes for sale in Danville CA that are bank owned homes listed for sale where you can potentially get a loan, have title insurance, inspection and appraisal contingencies.

Contact Vickie Nagy to discuss foreclosures and your home search in Danville CA or (925) 407-7987 I specialize in buyer representation and am an experienced and dedicated buyer’s agent, well-seasoned in representing buyers, including buyers of short sales and foreclosures. I am a Certified Distressed Property Expert (CDPE) and Preforeclosure Specialist Certified (PSC).

Vickie Nagy: (925) 407-7987 or email: Vickie@VickieSellsHomes.com

Steve Nagy: (925) 407-7853 or email Steve@BestTriValleyHomes.com

Vickie and Steve Nagy are available to help you with all your real estate needs, including relocation to San Ramon CA, Dublin CA, Pleasanton CA, Danville CA & nearby.

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