The September 2009 ForeclosureRadar foreclosure report for California was released today. NOD are up MoM and YoY. NTS are down MoM and up YoY. Third party sales continue to rise as investors jump into the supply constrained market. Sean of ForeclosureRadar notes that cancellations continue to drop. This is interesting because if HAMP modifications are successfully being given out one would expect cancellations should rise. Bank owned inventory continues to drop as further proof that shadow inventory of bank owned homes is a myth. The story continues to be the record number of homes in default NOT being foreclosed on. I have also added the Ventura section of the report in the above graphics (as always, click to enlarge).
Everything continues to be put on hold. Who knew there was a pause button in real life?
1 comment:
They are just going to play extend and pretend until everything comes crashing down and they can't anymore. This way all the rich bankers can make more money before the Sh*t hits the fan.
Go Kings
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