Thursday, January 15, 2009

Short Sale & Foreclosure for San Fernando Valley & Ventura County - December 2008

Ventura County:
Here are the updated numbers for December 2008 for the San Fernando Valley and Ventura County. Foreclosures posted their highest volumes for the year. I think the servicers have bulked up their asset management divisions to deal with the inflow better. This will mean less of a loss for them going forward as they can cycle through inventory faster instead of it sitting waiting in the wings to be processed and brought to market. The discretionary seller will be increasingly pushed aside unless they are willing to compete with the distressed market. I perused pendings in a couple markets to see if there is any difference in composition going forward and based on my initial observations it looked like more of the same for the foreseeable future.

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