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You will find plenty more information from RealtyTrac.com. Give it a run for a month or so.
RT is often used as prime source of foreclosure news and piped to many sites like DQnews.com.
I doubt you will find people putting cash down for homes as rental investments given rents are nose diving. If they did, they will lose it quickly since Sunnyvale is still grossly overpriced and still correcting.
If these are trustee sales, the majority revert to bank owned. You can check them with property shark to see if the current title is with a bank or individual. I suspect most of these have a bank / mortgage pool or servicer as the title holders for these amounts.
Let me know if in fact these did go back to the bank. I am finding in my neck of the woods that a lot of the NTS are being postponed/canceled at the last minute while the bank and borrowers play the extend game. Seems both borrowers and banks are both "fumbling" while trying to find the right documentation (good luck on no-doc originations) to make a permanent loan modification and are both just buying time. The borrower gets more time in a home and the banks get to forestall write downs. I know personally of one case where the borrower is dragging his feet as long as possible but still intends to walk away. He has been intentionally in arrears since January and knows he wont qualify for a permanent modification because of too much income. There are plenty more out there. The game has to stop or it will drag on for way too long.
Data from RealtyTrac for Sunnyvale, October 2009:
Defaults: 35
Auction Sales: 28
REOs: 5
I try to keep up with my little neck of the woods: Sunnyvale, CA. DQ News reports 104 sales with a median price of $593,500 for October 2009. During the month of October I read through about 25 Notices of Trustee Sale in the local newspaper. On a side note, it is interesting that only 7-8 NTS appear per week and it is never more. But, I digress. I follow the deed of trust date and default amounts. Maybe it is a meaningless pursuit, but I thought others might want to know or comment.
1) 12/19/06---$516,057.28
2) 05/21/06---$644,037.30
3)Â 06/26/09---$621,171.28
4) 07/15/03---$516,334.27
5) 06/21/06---$26,841.70
6) 09/25/06---$306,875.97
7) 07/26/06---$674,918.56
8) 03/01/06---$582,029.18
9) 06/08/07--$206,870.57
10) 09/29/06--$315,021.13
11) 03/20/06--$449,579.11
12) 06/28/00--$109,796.08
13) 09/25/05--$592,024.25
That's about half. Just based on this half, the median default amount for October is about $516,000. I am curious as to what conclusions other people draw from this. Personally, I see one of two possibilities: A) There are people with lots of cold hard cash coming to Sunnyvale who can plop down $118,000 for a down payment and make $200K per year. Or B) Banks are still making loans to people they know will not be able to pay them back.