Foreclosure filings down dramatically in the Bay Area

August 12, 2010 12:00:00 AM PDT
The latest numbers from RealtyTrac show foreclosure filings nationally are up 4 percent from last month, but down 10 percent when compared with July of 2009. According to RealtyTrac's U.S. Foreclosure Market Report for July 2010, foreclosure filings, which include default notices, scheduled auctions and bank repossessions were reported on 325,229 properties in July.

"Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions," said RealtyTrac CEO James J. Saccacio.

California alone accounts for 21 percent of the national total of filings in July, with 66,910 properties receiving a foreclosure filing during the month. That's down 3 percent from June and 38 percent from July 2009.

In many Bay Area counties, year-to-year foreclosure filings were down dramatically. They include 15.7 percent in Alameda County, 24.5 percent in San Francisco County, 32 percent in Santa Clara County and 41 percent in Contra Costa County.