Tuesday, September 1, 2009

Short Sale & Foreclosures for the San Fernando Valley

Note: I have added a foreclosure research link to the site, see here
Here is the sales breakdown for August 2009 for the San Fernando Valley. The pace of the REO percentage decline has slowed and short sales had there best showing yet since I've been tracking the statistics. Traditionally the SFV has a higher amount of late reporters so I expect sales to come in around the 875-900 range which will be flat to slightly up from the year before. The SFV market has the same supply issue plaguing other markets and that essentially puts an upper limit on sales. The mortgage rates may be at 5% rates and a tax credit but it don't matter one bit if a buyer can't find a home they can both afford and want to pay for. This would have been a pretty good market to liquidate inventory into but instead it seems like a wasted opportunity.

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