California Foreclosure Filings Shrink for First Time in 2010

An interesting bit of market information for our state was in yesterday:

“Foreclosure filings in California were down in April for the first time since the beginning of the year, ForeclosureRadar reported Tuesday. Last month, the locally based company tracked a total of 58,410 notices of default and foreclosure sale filings in the Golden State. Default notices fell 16.01 percent compared to March, while sale notices dropped 10.25 percent.

Despite the decline in filings, the firm’s data shows that the inventory of properties in pre-foreclosure or scheduled for sale dipped only slightly – down 3.17 percent and 2.77 percent, respectively – evidence that the drop in filings was offset by an increase in the time it takes lenders to complete a foreclosure.

According to…”

To read the rest of the article, please go

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