Six Years of Foreclosure
San Joaquin County GIS has been compiling foreclosure data obtained from the San Joaquin County Recorder since 2007. Partial results summarizing that effort are presented here, for the six full calendar years ending December 31, 2012.
Foreclosures, Chart, By Month:
Universe: Entire County - unincorporated areas as well as incorporated Cities.
Average Sales Price, Chart, By Month:
As economic reference.
Criteria: A "typical" 3-bed/2-bath home will serve as the benchmark.
Universe: All sales recorded County-wide during the period, whether conventional or trustee auction.
Foreclosures, Chart, By Jurisdiction, By Year:
Foreclosures, Point Map, By Year:
The jurisdictional pie charts above already suggest that there isn't much variation by location over time. These maps simply serve to confirm that - differences in distribution from year to year are largely unnoticeable unless zoomed in.
Foreclosure (non-judicial) is essentially a three-step process, signalled by the recording of various official documents. The numbers presented here are simply counts of two of those documents. This is not intended as a complete guide to the foreclosure process, or real estate transactions in general, but a summary of the process is given below in simplified terms in order to illustrate the data collection process used here:
- Notice of Default (aka "NOD") - The initial notice to the borrower that the loan is delinquent/deficient. This notice begins a 90-day (minimum) reinstatement (or "pre-foreclosure") period, during which the borrower may attempt to correct the loan. A count of these documents is not presented here.
- Notice of Trustee Sale (aka "NOS") - A notice that the lender intends to auction the property. Such notice must be posted publicly (in newspapers, et al) at least 21 days prior to the auction, and filed with the Recorder at least 14 days prior to the auction. A count of these documents is what is presented here as "Defaults"*.
- Trustee's Deed Upon Sale - This document transfers ownership** of the property after the auction and concludes the foreclosure process. A count of these documents is what is presented here as "Foreclosures".
* We recognize that counting "Defaults" via Notices of Trustee Sale is a potential source of confusion. There were specific analytical goals behind our choice of that indicator for the internal uses that drove this project.
** Again, simplified terms have been used. The difference between a grant deed and trustee deed, ownership versus a trustee's appointed authority, conveyance, "clear" title, and other such details are not intended to be covered here.
Other sites may report similar numbers that differ from those presented here, either because they are counting different events, or because their collection methods vary. In many cases the differences are trivial, and the overall trends remain comparable even if the detailed numbers do not agree exactly. The primary exception to this would be if the site was reporting an "inventory" of foreclosed properties, which might remain "on the market" for extended periods. Such "property inventory" numbers would not be directly comparable with "recording activity" numbers as presented here.