Studio City Real Estate news, information and tips for buyers and sellers in Studio City and surrounding areas.
Heather Farquhar - CaBRE#01010047 -CONTACT US - 818-579-2050
Monday, November 26, 2012
Foreclosure and Short Sale Update
– properties foreclosed on in the past 12 months – accounted for 16.3% of the Los Angeles area resale market last month. Down from 16.6% the month before and 32.8% a year earlier. Last month’s level was the lowest since October 2007 when it was 16.0%. In the current cycle, the foreclosure resales hit a high of 56.7% in February 2009.
- transactions where the sale price was less than was owed on the property – made up an estimated 26.0% of Southland resales last month. That was down from 27.6% the month before and up from 25.4% a year earlier.