Folsom Foreclosures Keep On Coming

The past couple of days I am reading about the Sacramento County is seeing foreclosures climb but Notice of Defaults dropping. What does the Folsom foreclosure situation look like?

In September Folsom saw 60 new Notice of Defaults filed, four more than in August of 2009. In September 2008 Folsom saw 19 new Notice of Defaults.

Folsom did see a slight drop in Notice of Trustee sales, we had 51, in August there were 60. September 2008 there were 29 Notices of Trustee sale.

The looming dark cloud is the amount of Trustee Sales scheduled through the end of the year. I count 189 homes scheduled to be sold on the courthouse steps, before the end of this year. Now some will be cancelled, but that is still a lot of homes we are going to see coming on the market sometime next year.

I would love to say that Folsom has hit bottom. I can’t.