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News Alert! 98% of Calabasas Homeowners are Just Fine

By
Real Estate Agent with BrokerInTrust Real Estate Cal BRE #01345507

Calabasas Real Estate News

You know the old adage, "if it bleeds it leads"...this article isn't about the lurid details of the housing downturn or more foreclosure news.  Today's blog is actually a positive look at the facts.  Of the 8,615 housing units in Calabasas, only 2.2% are in some stage of foreclosure according to Dataquick.  This is well below the national average of 7%.

That's right.  The overwhelming majority of homeowners in Calabasas are not losing their homes.  They either own their properties free and clear or are making their payments on time. 

Unfortunately this doesn't mean that Calabasas homeowners are not upside down on their mortgages.  Quite the contrary, people who purchased Calabasas homes in 2005, 2006 and 2007 with 10% or less down are upside down.  Plus homeowners that used their homes as an ATM machine and refinanced to take out cash are also underwater.  But luckily, a house is home and upside down or not, families will do whatever is necessary to keep their homes.

If you would like more information about buying or selling a Calabasas home, please call Tracey Thomas at 818-652-2937.

 

 

Comments (1)

Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

Great news...so easy to focus on the negative instead of the positive!!!  

Apr 15, 2010 01:37 PM