It was two months ago that we first reported that despite trending down in California, foreclosure activity has actually been climbing in San Francisco and the biggest gains in activity have been outside of the oft maligned “District 10” which hasn’t represented the majority of San Francisco foreclosure activity for well over two years.
As we pointed out at the time, while 39 percent of San Francisco foreclosures last year were in District 10*, that’s down from 48 percent in 2009, and down from 58 percent in 2008.
In January, the percentage of San Francisco’s pre-foreclosure activity concentrated in District 10 was 34 percent, by March it had dropped to 30 percent, down 5 percent in the absolute to 194 properties.
Having ticked up in April, pre-foreclosure activity in San Francisco has since dropped to a six month low with 576 properties in the pipeline, 32 percent of which are in District 10. At the same time, the number of properties scheduled for auction has ticked up from 668 in March to 689 today, 41 percent of which are in District 10 (down from 43 percent in March).
Editor’s Note: In an attempt to match and map two disparate data sets, we include 94124, 94134 and 94112 in “District 10,” which results in a slightly larger area than the District as defined by the San Francisco Association of Realtors.
∙ San Francisco Bucks CA Foreclosure Trends, But Not In A Good Way [SocketSite]
∙ San Francisco Foreclosure Activity Climbs Outside Of District 10 [SocketSite]
∙ San Francisco Association Of Realtors New Neighborhood Map [SocketSite]
In watching the 5th up down roller coaster cycle in Real Estate, I have noticed the mainstream media is normally 3-6 behind what happens on the street.