Look at the Numbers, Make your Own Conclusions
Friends, today I got some information that I am sure you would like to see. Since you are into short sales, I am sure you will be interested in this. Make your own conclusions.
When I started in real estate, I was always looking for a short sale. Sometimes when it rains, it pours. It seems that now short sales will be looking for me. This information comes courtesy of Rapid Foreclosure Data – www.rapidforeclosuredata.com.
The chart below shows the list of 30, 60, 90 and 120 day lates in an assortment of counties in Washington and California. These people are in default but not in foreclosure. The last column is the count of properties in each county already in foreclosure (N.O.D.). As you can see, on average there is a rate of 2.5 to 1. So in all likelihood, we will be seeing foreclosures grow about 300%. Got Short Sales?
|
State & |
30 late |
60 late |
90 late |
120 late |
Total Late |
N.O.D |
|
(— in default but not in foreclosure —) |
||||||
|
California |
||||||
|
Southern CA |
||||||
|
Los Angeles |
21115 |
8466 |
5669 |
10775 |
46025 |
17745 |
|
Orange |
5742 |
2491 |
1758 |
3452 |
13443 |
4537 |
|
Riverside |
9319 |
4177 |
2822 |
5330 |
21648 |
10427 |
|
San Berardino |
7847 |
3223 |
2144 |
3895 |
17109 |
8561 |
|
San Diego |
6842 |
3050 |
2099 |
4484 |
16475 |
6846 |
|
Santa Barbara |
788 |
352 |
211 |
478 |
1829 |
687 |
|
Northern CA |
||||||
|
San Mateo |
1069 |
451 |
310 |
621 |
2451 |
573 |
|
Santa Clara |
2987 |
1164 |
781 |
1520 |
7377` |
1946 |
|
Sanata Cruz |
426 |
192 |
108 |
199 |
925 |
282 |
|
Sacramento |
4433 |
2068 |
1453 |
2727 |
10681 |
6407 |
|
Contra Costa |
2977 |
1342 |
914 |
1915 |
7148 |
3761 |
|
Washington |
||||||
|
King |
3026 |
1058 |
545 |
1023 |
5652 |
848 |
|
Pierce |
2061 |
771 |
389 |
787 |
4008 |
702 |
|
Snohomish |
1551 |
525 |
237 |
466 |
2779 |
378 |
|
Whatcom |
258 |
99 |
44 |
72 |
473 |
76 |
Written by Oscar Morante, of Advanced Real Estate Concepts, LLC.
This entry was posted on March 7th, 2008 at 2:44 pm and is filed under Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
