California foreclosure activity falls in Q3

Notices of default concentrated in low-end markets

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Fewer California homeowners received notices of default and had their homes foreclosed on in the third quarter compared to the same period last year, according to a report from real estate information company MDA DataQuick.

The number of houses and condos foreclosed on fell 4.8 percent from the second quarter and 9.3 percent from 2009’s third quarter, to 45,377. These figures are based on records of trustee’s deeds, which in most cases transfer ownership of a property to the lender.