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North Bay Business Journal

Thursday, April 12, 2012, 12:36 pm

Foreclosure rate rises in Lake Co., falls elsewhere in North Bay

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    The proportions of homes in foreclosure in the North Bay last month was below the state average in four of the six counties, and the number of properties at risk of going back to lenders fell in all but Lake County over the past six months, according to data released today from foreclosure data compiler RealtyTrac.

    One in every 329 housing units, or 622 total, in Sonoma County was at some stage of the foreclosure process — default notices, scheduled auctions or bank repossessions — in March. There were a total of 3,052 homes in foreclosure at the time of the report.

    The state ratio was one in 303.

    That Sonoma County total was lower than the prior month, when the county had 693 properties in foreclosure — one in every 309 — but down from a high of 826 in November.

    Locale with the highest rate of new foreclosures in the county last month was in Cloverdale, with one in every 216 homes in foreclosure and a total of 21 properties. Occidental had among the lowest rates in the county — one in 1,314. The North Bay’s largest city, Santa Rosa, had the highest number of foreclosed homes in March — 294, or one in 285.

    Marin County had an average of one in 589 homes in foreclosure in March, totaling 185 new homes. The county had 175 homes in foreclosure in February with a recent high of 271 filings in October. Currently, Marin has a total of 963 foreclosed properties.

    An average of one in 420 homes, or 131 homes all together, were reported in foreclosure in Napa County. There were 194 homes in foreclosure in February, with a total of 780 currently foreclosed properties.

    One in every 397 homes, or 98 properties, was in foreclosure in Mendocino County during the month. In February, 102 homes were in foreclosure. RealtyTrac reported a total of 556 foreclosed housing units.

    Solano County had one in 198 homes, or 762 total, going through foreclosure in February. That number was down from 946 in February, with a total of 4,287 foreclosed properties.

    Maintaining the highest rate in the North Bay in March was Lake County, where 1 of 165 homes were in foreclosure, totaling 213 properties. That level was down from February’s 12-month high of one in 236 homes going through foreclosure. Lake had a total of 956 homes in foreclosure at the time of the report.

    For the first quarter of the year, California’s 133,245 foreclosure filings was the highest number in the country, accounting for 23 percent of all foreclosure activity nationally, according to RealtyTrac. California’s rate is the second-highest in the nation, though it is trending downward.

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