Amador County – Defaults and foreclosures in the Sacramento region continued to drop in the first quarter of this year, according to MDA Dataquick, a statistics research company. DataQuick counted 4,331 new foreclosures during the first quarter of 2010 in the Sacramento region, which includes Amador, El Dorado, Nevada, Sacramento, Sutter, Yolo and Yuba counties. According to a report in the Sacramento Bee, “that was down from 5,081 in the fourth quarter of 2009, and well below the peak of 7,769 foreclosures in the third quarter of 2008.” Dataquick says it is unclear how much of these declines are due to market conditions and how much is due to changing policies by loan servicers. "Several factors are at play here and it's hard to know how they play into each other right now. A year-and-a-half ago the subprime loan mess was the black hole. Now, playing catch-up, is the financial distress households are experiencing because of the recession. Add to the mix shifting policy decisions, both by lending institutions and in public policy," said John Walsh, DataQuick president. The company says California's mid- to high-end housing markets were more likely to have seen a rise in mortgage defaults last quarter, though the concentration of default activity - measured by defaults per 1,000 homes - remained relatively low in those areas. At the same time, capitol region home sales continue to rise. Only one regional county, Yuba, reported a decline in home sales in March of this year compared to one year before. 41 homes were sold in Amador County in March 2010, compared to 26 sales in March 2009 and 24 sales in February 2010. The median sales price in Amador County is now approximately $178,000, 3.8 percent lower than one year ago. Only one sale in March of this year was a new home. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.-
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Amador County – Defaults and foreclosures in the Sacramento region continued to drop in the first quarter of this year, according to MDA Dataquick, a statistics research company. DataQuick counted 4,331 new foreclosures during the first quarter of 2010 in the Sacramento region, which includes Amador, El Dorado, Nevada, Sacramento, Sutter, Yolo and Yuba counties. According to a report in the Sacramento Bee, “that was down from 5,081 in the fourth quarter of 2009, and well below the peak of 7,769 foreclosures in the third quarter of 2008.” Dataquick says it is unclear how much of these declines are due to market conditions and how much is due to changing policies by loan servicers. "Several factors are at play here and it's hard to know how they play into each other right now. A year-and-a-half ago the subprime loan mess was the black hole. Now, playing catch-up, is the financial distress households are experiencing because of the recession. Add to the mix shifting policy decisions, both by lending institutions and in public policy," said John Walsh, DataQuick president. The company says California's mid- to high-end housing markets were more likely to have seen a rise in mortgage defaults last quarter, though the concentration of default activity - measured by defaults per 1,000 homes - remained relatively low in those areas. At the same time, capitol region home sales continue to rise. Only one regional county, Yuba, reported a decline in home sales in March of this year compared to one year before. 41 homes were sold in Amador County in March 2010, compared to 26 sales in March 2009 and 24 sales in February 2010. The median sales price in Amador County is now approximately $178,000, 3.8 percent lower than one year ago. Only one sale in March of this year was a new home. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
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