Friday, May 1, 2009

Foreclosure Sales for LA and Ventura County - April 2009

Trustee sales for Los Angeles County:

Trustee Sales for Ventura County:
Here are the final sales result for April 2009. "Beneficiary" means the bank took back the homes on the courthouse steps. "3rd Party" means someone else besides the bank bought the home on the courthouse steps. While sales improved over March current sales are about a 25 to 30% pace of home sales on the MLS. With approximately 50% of homes sold on the MLS being foreclosures this means that foreclosure inventory is being drawn down. I also checked out today's sales since it is a new month to see if there was any big change. Sales were pretty light today and the vast majority of sales postponed which indicates that there isn't yet a major servicer changing its foreclosure policy just yet. I expect they will start increasing foreclosures soon as all the parts of the administrations plan have been laid out.

Note: I have added a foreclosure research link to the site, see here.

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