Industry NewsTechnology

New site eyes California foreclosures

ForeclosureRadar.com provides interactive maps, other tools

Just a couple of years ago, home sales and prices were soaring and home foreclosures were largely out of sight and out of mind in the California real estate market, save for a niche group of investors and real estate agents. Foreclosures in that state are now reaching epidemic proportions and are very much on the radar. Just ask Sean O'Toole, founder of ForeclosureRadar.com -- the site launched in May and features interactive maps, financial tools and detailed information about preforeclosure properties, foreclosure auctions and bank-owned properties in California. ForeclosureRadar reported Wednesday that 8,716 California homes sold through foreclosure auctions in July with a loan value of $3.5 billion, up 24.6 percent compared to June. National foreclosure data provider RealtyTrac, meanwhile, reported Tuesday that Stockton, Calif., had the highest foreclosure rate in the nation during the first half of 2007 among all of the metro areas the company tracks, and four of the 10 areas with...

Comments