Monday, August 31, 2009
Ventura County Trustee sales for August 2009
Here are the final trustee sales number for Ventura County for August 2009. Foreclosures increased 7.2% MoM and are down 37.2% YoY. Trustee sales started off the month slow and picked up during the middle of the month only to slow down again in the final week. Third party investors are still a large part of the market. I would think if the servicers increase sales into the slower fall months the investor participation would drop. The reasons I think this would happen is that since the absorption rate drops in the Fall (less demand) so it gives investors fewer opportunities to push price and there would be the increased competition from higher REO sales.