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Lake Elsinore Foreclosure Rate Lower Than Murrieta And Wildomar

Although Lake Elsinore's numbers are more promising than the two nearby cities, in general the Inland Empire still remains a national troublespot in terms of distressed properties.

Across Southwest Riverside County, Wildomar had the highest foreclosure rate of any city during July, a real estate analyst said Thursday.

But Lake Elsinore, Murrieta and Temecula were close behind, and the Inland Empire in general remains a national troublespot in terms of distressed properties.

Daren Blomquist, vice president of the Irvine-based RealtyTrac, reported that in July, the counties of Riverside and San Bernardino remained the third-highest in the United States for default notices, auction sale notices and bank repossessions — that is, households in some stage of foreclosure.

Stockton is No. 1 in the United States and the Vallejo-Fairfield area is No. 2, he said. In the two-county Riverside-San Bernardino area, one in every 187 households is in foreclosure, he said. The southwest end of Riverside County has an even higher foreclosure rate.

Compare that with the national foreclosure average, one in 686 households, according to Blomquist.

Here are the local and regional breakdowns for July, according to the real-estate analyst:

  • Wildomar, 68 foreclosures, or one in every 147 households.
  • Lake Elsinore, 147 foreclosures, or one in every 151 households.
  • Murrieta's foreclosure rate was one in every 149 housing units, with 264 foreclosures. Murrieta Hot Springs, as measured by the area within the 92563 ZIP code, had a higher foreclosure rate than the rest of Murrieta: one in every 117 households.
  • Temecula saw 258 foreclosures, or one in every 152 households.
mike59 August 11, 2012 at 06:18 PM
I have lived in LE for almost 30 years. I have seen for the lack of a better word it grow. There has never been a since of community in this town, I remember chili cook-offs at the main street park with maybe 20 people attending. I live north of machado, and my area has gone down hill for the last 5 yrs. I have seen our planning commision bully people with good ideas into pulling up stakes and leaving. In my area the new dream extreme elsinore has only brought in the 20 somethings with to much money that party all night long with racing up and down the streets and keeping people up all night. I have friends and relatives visiting from other states that are afraid to visit our main street shops because of the day laborers hanging out. Whats up with that???. This town has a great potential. I have attended many city council meetings and planning commision meetings over the years and can count on 1 hand the power people, and on one hand the community members that really care. The power people usually win and the people that care seem to be labeled as fanatics. I have friends that have mbeen here thier whole lives some of them related to the founders of this town and even they have given up. They say "you think it's bad now you should have seen it 50 years ago!"
Diana August 11, 2012 at 06:38 PM
I think that anyone that attends the Council meetings or contacts anyone in City Hall are given nothing but lip service by those in charge with no follow up. I would be curious if the City Council actually did anything on Lake St after the Mother of the young man that was killed there a while back stood in front of them pleading for those in charge to provide safety to this area. A Council member once told me that they have no control over the businesses that open here, I asked how could that be possible you do issue the license and permits? Magee has personally taken the historic Grand Prix off the streets of Lake Elsinore, there isn't anymore Street Fair or Car Shows because the merchants in little Tijuana (Main St) didn't want it anymore? As residents we should have a huge say in what WE want. You want us to spend our tax dollars here, where? Target, Walmart, the few shops at the Outlet Mall? Hey, i'm excited there is a new dollar store going in on Riverside, that makes three of them now. How about giving us somewhere to shop, eat and be entertained? Pathetic
mike August 11, 2012 at 07:12 PM
I know how about a check cashing/ payday loan co. next door? The city did do brush clearing and tree trimming on lake st. over the last couple of weeks. Maybe to little to late. I'm not sure it would have made a difference. what a sad accident. I broke down on lake street 15 yrs ago and it was a dark scary walk at night. What happened to the widening? Thats right alberhill who was supposed to do it bailed. I hope my posts are coming up. I just joined and am still a little illiterate here. HAHA
Martha L. Bridges August 12, 2012 at 01:15 AM
Perhaps the Wildomar city council should avail themselves of mental health services? OMG then the taxpayers would have to pay for it - oh, I guess we already do!
Constant Comment August 12, 2012 at 01:42 AM
MARFA WROTE: "Perhaps the Wildomar city council should avail themselves of mental health services!" under the LE Foreclosure rate @ 6:15 pm Sat. Aug. 11. Now before she erases it, please note that some of us get these new email notices in oue in boxes. Now boys & girls.......I ask you.....did it take too long to see this persons true colors? }~)

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