As outlined in my 2013 California Housing Forecast, I remain relatively bullish on the housing market for 2013. While the impacts of higher taxes, the lack of fiscal discipline and the possibility of a 'black swan' leave me concerned about the economy as a whole. I believe housing will prove a safer investment then most other alternatives. I also can’t wait to show our customers what we’ve been hard at work on for the last 2 years! - Sean O'Toole.
This foreclosure data is provided by Foreclosure Radar's monthly report.  Be sure to check back to this page regularly to get the latest updated information on foreclosures in the Long Beach area.  If you are interested in receiving information about other states or other areas in California please call me at 562-243-5244.
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.
Graph of Foreclosure Inventories in Long Beach,CA
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.
Graph of Foreclosure Bids in Long Beach,CA
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.