Wednesday, October 22, 2008

Short Sale & Foreclosure for San Fernando Valley & Ventura County

Here are short sales and foreclosures as a percentage of total sales for 2008.

San Fernando Valley:

Ventura County:

The REO flag appeared later in 2008 for Ventura so that is why you see the lack of REO sales being tracked early on. I think many agents weren't setting some of these flags and some of what you see isn't a natural progression of the market but more of an education of listing agents. Official DQ foreclosure numbers should be out this next week and we'll get a better feel for these types of things. As you can see though short sales are becoming a significant force in the market. As servicers improve their procedures and work to move inventory sooner rather than later I think short sales will become an even greater force.


Susan said...

Wow...those numbers say something. Hopefully things start turning around early next year.

Rob Dawg said...

Report this turd to GoDaddy.

Anyway, normal transactions might as well hibernate until 2010.

Effective Demand said...

I think REOs will peak soon. I think we are far from a peak in short sales.