The Q3 Foreclosure Report Is In
I was checking my inbox recently and found the latest info on foreclosures from Property Shark. Last time I wrote about foreclosures back in September, I noted that parts of the San Fernando Valley topped the charts for number of foreclosures in the Southern California area. Here is a brief list, so you can see which areas have the most foreclosed homes for the third quarter of 2008:
Taking the #3 spot for the second time in a row is Sylmar with 301 trustee sales.
Pacoima keeps the #4 spot with 290 trustee sales.
Reseda is new to the list, taking the #11 spot with 225 trustee sales.
If you’re interested in the chart, click on it to enlarge.
I also combed the report for other areas I thought some of our readers might be interested in. These are all Q3 foreclosure numbers.
Encino (91316): 68
Encino (91436): 15
Sherman Oaks (91403): 33
Sherman Oaks (91423): 33
Woodland Hills (91367): 63
Woodland Hills (91364): 57
West Hills (91307): 45
West Hills (91304): 110
Back in September, a reader asked if I thought the stats indicated a firming market in West Hills (91307). Given this latest foreclosure report, the fact that the number of houses for sale is only declining slightly (perhaps due to seasonal influences), and the fact that the charts still show the sold price per square foot to decline, I would have to say we’re not at the bottom yet. (Some of you might be saying, “duh!”)
What are your thoughts? Are any of you actually finding bargains in the foreclosure market? Please share.
