Foreclosures Drop in California

Real estate data firm Data Quick has recently released a statistical report on foreclosure in California. According to this report, California has experienced the lowest rate of foreclosure activity in the past five years. This report, with all time low foreclosure records, has put an end to all concerns that another wave of foreclosure may hit the economy of the c

ountry, reversing the recovery in the real estate market. 

If this is accurate then the lenders must be cooperating with loan modifications more then we think they are.

So inventory levels are going to stay low? It looks like that is the case. Values will continue to increase in California if we do not see an increase in inventory.
 
 
 
 
 
 
 
 
 
 
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2 Comments on Foreclosures Drop in California - California inventory too low

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431,057 Points 3 Featured Posts

Real estate markets here at Orange County CA need more listings - especially those from foreclosures that would become REO listings of lender owned properties after foreclosure.

Recent California law signed by the Governor, which will become effective on January 1, 2013, will make it even more challenging for lenders to foreclose.  I expect stagnating of the foreclosure system in CA, where lenders will be required to keep properties in shadow inventory longer - or perhaps allow more short sales.
9:05am • #1
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600,188 Points Outside Blog

I completely agree
1:39pm • #2

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Ann Urias (Aston Group - Excellence through Experience ) Rainmaker_large

Ann Urias

Irvine, CA

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Aston Group - Excellence through Experience

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