April 28, 2008
Check Your Neighborhood for Foreclosures
The L.A. Times’ Web site includes this interactive database that lets you punch in a ZIP code and see how many homes were foreclosed there in the first quarter of 2008 compared to the first quarter of 2007. You can also see how each ranks among 498 Southern California ZIP codes in number of households per foreclosure.
Some of the most affluent ZIPs, which have remained relatively unscathed from the housing slump, are seeing tiny increases in activity. For example:
Los Angeles 90069 (West Hollywood)
2007 foreclosures: 5
2008 foreclosures: 15
Marina del Rey 90292
2007 foreclosures: 1
2008 foreclosures: 9
Los Angeles 90027 (Los Feliz)
2007 foreclosures: 2
2008 foreclosures: 7
Pasadena 91101
2007 foreclosures: 0
2008 foreclosures: 6
Los Angeles 90024 (Westwood)
2007 foreclosures: 2
2008 foreclosures: 7
On the other hand, some wealthy ZIP codes had only one foreclosure (including Malibu 90265 and Pacific Palisades 90272) or even none (Playa Vista 90094, Culver City 90232). So it remains to be seen whether the uptick in some ZIPs is the start of a trend.
The six Los Angeles County ZIPs with the most foreclosures, both in raw numbers and households per foreclosure, are in Lancaster and Palmdale. In some High Desert cities, as many as 1 in 38 households are in foreclosure.
Recent Redfin posts:
Sellers’ Mojo No-Show in NoHo
Instant Luxury Condo Market: Just Add Water
Real Estate Raj said:
I don’t think these numbers will surprise anyone. The foreclosure procces takes time. during the next 6 months we should see them trend down to numbers we’re more familiar with.
April 28, 2008 1:49 PM