Printer Friendly

REAL ESTATE BANK LENDING AND FORECLOSURES IN CALIFORNIA: 1991

 REAL ESTATE BANK LENDING AND FORECLOSURES IN CALIFORNIA: 1991
 RIVERSIDE, Calif., Feb. 21 /PRNewswire/ -- According to figures recently released by TRW REDI Property Data real estate lending in California reached a level of just over $197 billion in 1991. This represents a drop of 5 percent compared to the $208 billion achieved in 1990.
 TRW REDI Property Data monitors real estate transactions and financing in more than 300 counties nationwide and provides real estate information to institutional lenders, title companies and real estate consultants.
 California: Real Estate Bank Lending 1990 & 1991
 1991 1990
 County Loan $ Loan $
 Los Angeles 57,233,015,149 62,278,096,162
 San Diego 16,673,373,376 19,337,205,674
 Orange 21,832,216,411 21,700,751,030
 Santa Clara 12,612,928,153 11,742,122,825
 Riverside 8,829,285,945 10,927,271,859
 San Bernardino 8,291,731,526 9,767,766,807
 Alameda 9,117,957,278 8,700,362,561
 Ventura 5,293,055,659 5,387,854,506
 Contra Costa 8,069,596,670 7,426,986,403
 San Mateo 5,732,343,218 5,629,636,422
 San Francisco 4,504,666,012 4,271,092,877
 Sacramento 6,372,530,345 7,435,443,820
 Kern 2,232,419,836 2,354,758,202
 Fresno 2,463,902,369 2,378,714,261
 Placer 1,844,759,857 2,286,884,191
 San Luis Obispo 1,576,534,454 1,747,010,001
 Santa Barbara 2,366,743,876 2,516,988,545
 Sonoma 3,353,891,261 3,266,029,300
 San Joaquin 2,265,100,837 2,271,012,594
 Marin 2,933,279,555 2,602,348,126
 Stanislaus 1,766,792,535 1,931,541,059
 Santa Cruz 1,798,064,490 1,730,242,058
 Solano 2,183,367,491 2,425,909,448
 Tulare 1,029,446,162 1,023,694,082
 Monterey 1,929,670,163 2,008,377,747
 Madera 453,780,732 412,743,375
 El Dorado 1,152,163,573 1,308,577,098
 Kings 305,764,765 264,947,917
 Merced 591,226,387 585,252,915
 Nevada 638,528,213 676,289,868
 Napa 1,029,722,302 1,037,663,398
 Tuolumne 287,225,003 247,739,474
 Sutter 347,026,888 322,270,396
 Yuba 136,495,905 169,926,499
 Total 197,248,606,396 208,173,511,500
 Concurrent with subdued lending activity has been a massive increase in foreclosures which jumped from $2 billion in 1990 to just under $6 billion in 1991, with Southern California counties emerging as the worst affected areas across the state. Collectively, the five Southern California counties account for 57 percent of total lending and 65 percent of loan volume foreclosed.
 California: Real Estate Foreclosure Amount, 1991
 1991 1990
 County Foreclosure Foreclosure
 $ $
 Los Angeles 1,987,175,694 491,248,502
 San Diego 652,408,763 240,926,631
 Orange 491,028,400 206,418,916
 Santa Clara 405,542,143 90,478,040
 Riverside 393,835,625 139,997,246
 San Bernardino 383,540,974 194,893,429
 Alameda 238,567,803 131,575,149
 Ventura 228,460,840 23,686,671
 Contra Costa 169,155,495 78,567,001
 San Mateo 165,631,849 52,154,526
 San Francisco 144,612,628 83,973,001
 Sacramento 123,127,624 91,451,509
 Kern 105,087,324 99,104,052
 Fresno 72,284,029 75,036,767
 Placer 48,631,472 6,448,018
 San Luis Obispo 44,430,185 5,490,096
 Santa Barbara 37,847,555 13,198,450
 Sonoma 37,604,507 26,461,808
 San Joaquin 27,627,542 10,739,333
 Marin 27,393,150 5,788,883
 Stanislaus 26,224,568 15,099,211
 Santa Cruz 23,956,316 4,659,309
 Solano 21,368,446 14,340,801
 Tulare 19,502,682 28,654,820
 Monterey 17,774,237 6,011,024
 Madera 16,931,160 4,495,348
 El Dorado 16,296,232 9,880,559
 Kings 9,537,069 5,472,696
 Merced 6,612,459 13,625,278
 Nevada 6,491,006 4,784,822
 Napa 6,346,902 11,963,377
 Tuolumne 5,277,544 3,310,138
 Sutter 5,180,248 2,018,887
 Yuba 2,602,195 2,737,872
 Total 5,968,094,666 2,194,692,170
 Looked at purely in terms of dollar volume, Los Angeles County tops the list with commercial and residential foreclosures amounting to around $2 billion, three times more than the level recorded for 1990. Next was San Diego County which also saw foreclosures rise by 170 percent from $0.24 billion in 1990 to $0.65 billion in 1991.
 However, if foreclosure volume is looked at in relation to the amount of loans advanced, a somewhat different regional pattern emerges. San Francisco, Madera and Santa Clara, for example, are among those counties that had a disproportionate share of total foreclosures in the state.
 1991 1991 Foreclosure
 County Loan Foreclosure Location
 Share Share Quotient
 Kern 1.13 1.76 155.6
 San Bernardino 4.20 6.43 152.9
 Riverside 4.48 6.60 147.4
 Ventura 2.68 3.83 142.7
 San Diego 8.45 10.93 129.3
 Madera 0.23 0.28 123.3
 Los Angeles 29.02 33.30 114.8
 Santa Clara 6.39 6.80 106.3
 San Francisco 2.28 2.42 106.1
 Kings 0.16 0.16 103.1
 Fresno 1.25 1.21 97.0
 San Mateo 2.91 2.78 95.5
 San Luis Obispo 0.80 0.74 93.1
 Placer 0.94 0.81 87.1
 Alameda 4.62 4.00 86.5
 Orange 11.07 8.23 74.3
 Contra Costa 4.09 2.83 69.3
 Sacramento 3.23 2.06 63.9
 Yuba 0.07 0.04 63.0
 Tulare 0.52 0.33 62.6
 Tuolumne 0.15 0.09 60.7
 Santa Barbara 1.20 0.63 52.9
 Sutter 0.18 0.09 49.3
 Stanislaus 0.90 0.44 49.1
 El Dorado 0.58 0.27 46.7
 Santa Cruz 0.91 0.40 44.0
 San Joaquin 1.15 0.46 40.3
 Sonoma 1.70 0.63 37.1
 Merced 0.30 0.11 37.0
 Nevada 0.32 0.11 33.6
 Solano 1.11 0.36 32.3
 Marin 1.49 0.46 30.9
 Monterey 0.98 0.30 30.4
 Napa 0.52 0.11 20.4
 Total 100.00 100.00 100.0
 NOTE: A location quotient of 100 indicates that percentage share in total loans and percentage share in total foreclosures are equal.
 Commenting upon these most recent data, Nima Nattagh, TRW REDI's Market Research Analyst added that "the high level of foreclosures in 1991 was essentially a symptom of the borrowers' inability to service their debt, but as interest rates have come down and a more positive real estate market scenario emerges, we expect the 1992 foreclosure level to stabilize."
 -0- 2/21/92
 /CONTACT: Nima Nattagh of TRW REDI, 714-276-3629/ CO: TRW REDI Property Data ST: California IN: SU:


CH-JL -- LA006 -- 1407 02/21/92 13:09 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 21, 1992
Words:1219
Previous Article:REYNOLDS METALS DECLARES QUARTERLY DIVIDEND
Next Article:NINTENDO RIVAL CHARGES: EUROPEAN ANTITRUST VIOLATIONS
Topics:


Related Articles
CALIFORNIA LENDERS SHARE OF REAL ESTATE LOAN MARKET DECLINES IN 1991
CALIFORNIA HOME FORECLOSURES REACHED 97,303 LAST YEAR
Fewer real estate loans are foreclosed or restructured.
Lane foreclosures keep rising.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters