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February 16, 2011

arrowForeclosure sales activity back up in Fresno

Foreclosure sales bounced back up to levels not seen since before the foreclosure robosigning scandal last fall, according to the latest report from ForeclosureRadar, which tracks foreclosure activity.

In Fresno County, 92 foreclosed properties were sold in January to a third party, typically an investor, compared to 57 the month before. The last time foreclosure sales climbed that high was in July when 95 properties sold.

Another 477 properties were returned to the lender in January when they were not sold at auction, according to the report. In December 2010, only 297 properties went back to the bank.

"We have not seen this level of activity on the courthouse steps for months," said Sean O'Toole, chief executive officer and founder of ForeclosureRadar. "The increase in foreclosures is just in time to provide a fresh supply of entry level homes for the spring home buying season."

BoNhia Lee reports on real estate and other business issues for The Fresno Bee. She can be reached at blee@fresnobee.com.



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