RealtyTrac Indicates CA Foreclosures Slowing
Posted by CityBlogCA on December 16th, 2007
RealtyTrac, one of the nation’s foreclosure information and tracking company indicates that California foreclosures may be slowing if the September decline of 8% and the October decline of 2% continue. Orange, Los Angeles, San Deigo and Riverside Counties lead the State in foreclosures, according to RealtyTrac.
(2 votes, average: 4 out of 5)
Loading ...
Some of the foreclosure activity is actually healthy, because it will lead to lower prices and thus, investor interest in purchasing properties.
It does seem like we are headed for another waive of foreclosures if you look at the MLS. More than 75% of homes listed for under 400,000 in my area of East Ventura County are preforeclosure listings.
Lower prices is a good thing for the people in search of a home, but not so much for those who need to offload one. A slowing of the trend would be nice, but that market was in for a correction anyway.
Lower prices YES, however you do get these foreclosure hoes AS_IS, and generally they need work,so buyer need reserves