Folsom Distressed Homes November Report
Folsom is still seeing Notice of Defaults(NOD) filed on homes. In November 50 homes had NOD’s filed on them, down 23.08% from this time last year. Notice of Trustee Sales(NOT) are up 59.45% from this time last year. Folsom homes ranging in size of 1,250 to 1,500 square feet had the highest NOD’s with 10 in that category. There was a tie for the Notice of Trustee Sale sized homes, 3,000sqft and above had 6 NOT’s and so did 2,000 – 2,500sqft homes.
Folsom Foreclosures for November 2010
In the chart above you can see what happened to the 35 Folsom homes to be foreclosed on in November. Out of the 35 homes, 34.29% did go back to the bank. Another 42.86% of the homes that were due to be foreclosed on were canceled, possibly because they were negotiating a short sale, or loan modification. Seven homes, or 20% were sold to a third party on the court house steps.