(a) San Francisco is still seeing a significant number of foreclosures. According to the San Francisco Assessor/Recorder's fiscal year 2010-2011 Annual Report, there were 2,277 notices of default recorded in residential, commercial and industrial properties. This statistic represents an average of 184 recorded notices of default per month, up 171% from five years ago.
(b) In addition, there were 927 actual foreclosures in the 2010-2011 fiscal year or an average of 83 per month. This figure represents a 3% increase from the previous fiscal year, and an 1128% increase from five years ago when foreclosures averaged 7 per month.
(c) The majority of foreclosures in San Francisco are non-judicial foreclosures. A non-judicial foreclosure allows a lender to sell a property to pay off an existing debt, assuming the lender is authorized to foreclose and that all the requisite procedures are followed. Often, by the time the foreclosure process has concluded, the foreclosed property is in a state of disrepair, often suffering from deferred maintenance and neglect and needing significant repairs.
(d) Once a foreclosure has concluded, properties can remain in a state of disrepair for months, even years. Often, a foreclosing owner, despite having the resources and ability to abate the conditions, chooses to leave the property in its current state subjecting tenants and the surrounding community and neighbors to the effects of this neglect: further deteriorating conditions such as mold, lack of heat and hot water, peeling paint, overgrown vegetation, vulnerability to squatters, blight, and other nuisance.
(e) The City recognizes the importance in a dense, urban environment of the need to ensure that properties are maintained in a healthy and safe condition, free of nuisances and blight and therefore it is the policy of the City that all Departments consider enforcement of this Ordinance a high priority. By holding owners of foreclosed properties responsible for maintaining their properties and increasing the potential consequences errant owners face for permitting nuisances to continue, the City can more effectively ensure that its neighborhoods are healthy and sate for those who choose to live, work or visit.