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Foreclosure Radar

ForeclosureRadar is revolutionizing California's foreclosure marketplace with the next generation of foreclosure services for investors and real estate professionals, including Realtors®, lenders, and attorneys. We begin this revolution as the first service to track every California foreclosure auction each and every day. To fully leverage this exclusive data, we have developed a comprehensive set of professionally designed tools for finding, evaluating and tracking every foreclosure in the state.

The Opportunity

The combination of over development and aggressive lending practices has set the stage for an unprecedented wave of foreclosures. In California alone, the default rate increased 45% from November to December of 2007, with nearly $13B in loans now entering foreclosure each month. This dramatic increase appears to be the direct result of the liquidity crisis that began in August of 2007, and is set to significantly increase foreclosure sales from their already record levels. To put current the current record levels into perspective, a total of 25,585 new and resale homes were sold statewide in December 2007, while 12,783 homes were lost at foreclosure auction. Of those 97% went back to the bank with no 3rd party bid despite significant discounts. In the worst areas foreclosures are adding an additional 6 months of housing inventory each month to inventories that are already too high.

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