Tuesday, September 1, 2009

Short Sale & Foreclosure for Ventura County

Note: I have added a foreclosure research link to the site, see here
Here is the sales breakdown for Ventura County for August 2009. August was the first month in which the percent of sales which are REOs increased since last December. This may be somewhat due to the increase in foreclosures since June but I think the slowdown in the total overall sales has more to do with the percentage increase. I expect the REO percentage to increase as more supply comes online and sales slow. Sales continue to be anemic, notice they are down again YoY, this is due more to limited supply than limited demand. The supply that is plentiful is in the wrong price ranges for the significant demand that is out there and so we get this stagnant market. The consistent story you see from agents is that there buyers can't find homes to buy and they end up either choosing to try to wait out a short sale or try the bidding war route with the few REOs which make it on market.

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