Five year Foreclosure Statistics for Los Angeles County

By
Real Estate Broker/Owner with Independent Real Estate Broker DRE#00972295
Year to date: 1, 998 Bank Owned (REO) properties have sold(closed transactions) in the Los Angeles County

Jan. 1, 2003 to Dec. 31, 2003: 47

Jan. 1, 2004 to Dec. 31, 2004: 18

Jan. 1, 2005 to Dec. 31, 2005: 30

Jan. 1, 2006 to Dec. 31, 2006: 31

Jan. 1, 2007 to Dec. 31, 2007: 383

Jan. 1, 2008 to July 27, 2008: 1,998

From Jan. 1, 2003 to Dec. 31, 2007 the total for the five year period of Bank Owned properties that sold in Los Angeles County was 509.

More properties have sold in 2008--Year to Date-- than have sold in the past five years combined.

Wow!

Can you guess what number it will be on December 31, 2008?

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For a free list of Bank Owned and Government Owned Properties Visit my website: www.ReoLicensedSpecialist.com
Posted by

Aida Pinto (562) 884-6196
Los Angeles County
Real Estate Broker



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Comments (2)

William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hello Aida, I suspect that it will stabilize a little over the next 6 months so my guess is that is will fall to say 1600. That would be my guess. There may be incentives by then for lenders not to foreclose on as many properties.

Jul 27, 2008 03:40 PM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Hi William---thanks for your input!

Out out curiosity ---what makes you say 1,600 in the next 6 months--I am think that is going to be more!

The short sales are not being approved and they are turning into reo's

What about those loans that were made in 2005 fixed for 5

2005+5=2010

I am just trying to see where this foreclosure market is headed!  is it going up or stablizing?

Jul 28, 2008 04:36 AM