Foreclosure sales on the West Coast started strong for the beginning of 2012, with ""Washington"":http://www.foreclosureradar.com/washington-foreclosures?utm_source=email-102011&utm_medium=emailutm_campaign=foreclosure_report_102011 as the exception, according to ForeclosureRadar.
""Arizona"":http://www.foreclosureradar.com/arizona-foreclosures, ""California"":http://www.foreclosureradar.com/california-foreclosures?utm_source=email-102011&utm_medium=emailutm_campaign=foreclosure_report_102011, ""Nevada"":http://www.foreclosureradar.com/nevada-foreclosures?utm_source=email-102011&utm_medium=email&utm_campaign=foreclosure_report_102011, and ""Oregon"":http://www.foreclosureradar.com/oregon-foreclosures?utm_source=email-102011&utm_medium=email&utm_campaign=foreclosure_report_102011 are the other states included in the report â€" all of which saw increases in foreclosure sales to investors. Trustee sale investors pay the full amount in cash without inspections or title insurance prior to purchase.
[IMAGE]This is the fourth largest month on record in California, and the busiest since March of 2011, stated ""ForeclosureRadar"":http://www.foreclosureradar.com/.
Nevada experienced the largest month-over-month increase in foreclosure sales (+59.8 percent), with Washington being the only state seeing a decline (-31.3 percent). Nevada's
[COLUMN_BREAK]increase, combined with the significant declines in new foreclosures that began in October 2011, is quickly diminishing the foreclosure inventory in the state.
California also saw a substantial increase (+14.6 percent), and the state underwent the most activity, with investors purchasing 3,964 properties for $766.2 million, according to ForeclosureRadar.
""January's numbers should put to rest any notion that we will see a wave of foreclosures in 2012, at least in the western states that we cover."" said Sean O'Toole, founder & CEO of ForeclosureRadar. ""Foreclosure starts remain near record low levels, significantly lower than a year ago, when many banks still had self-imposed moratoriums in place due to the robo-signing scandal. Add to that a foreclosure timeframe of more than 8 months, and there is little chance of a wave this year even if all the banks started the foreclosure process en masse tomorrow.""
Oregon (-26.5 percent) and Arizona (-6.3 percent) had a decrease in foreclosure starts, which is when a borrower receives a notice of default and the foreclosure process begins.
ForeclosureRadar stated that despite what appears to be significant percentage increases in foreclosure starts in California (+15.5 percent), Nevada (+16.6 percent) and Washington (+25.1 percent), compared to January one year ago, foreclosure starts are significantly lower now.