Tuesday, May 13, 2008

Foreclosure flood: 1,000 auctions per day in California

That is a really amazing figure. If they are finding 1,000 buyers a day that would be even more amazing.
California's foreclosure crisis passed another ominous milestone in April, when more than 1,000 foreclosed homes were  auctioned off every weekday at courthouses across the state, the auction tracking firm ForeclosureRadar reported today.
The April total of foreclosure sales at auction -- 22,838 for the state -- represents a jump of 44% over March totals and the highest level ever in California, ForeclosureRadar reports.
A separate estimate of foreclosures by DataQuick Information Systems had counted 47,171 foreclosures in the first quarte