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&County----30 late----60 late----90 late----120 late----Total Late -----N.O.D(------ in default but not in foreclosure ------)
CaliforniaSouthern 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 --------- 987 --------- 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. More information about the author can be found at
www.bestshortsales.com.
Occupation: Short Sales Investing & Short Sale Courses
Advanced Real Estate Concepts, LLC was founded by Oscar Morante in 2004. The company's mission is to acquire over-mortgaged properties that have gone into pre-foreclosure by getting lenders to discount debt in order to mitigate risk of loss at auction. Oscar has developed proven techniques and strategies for success through short sales investing. While continuing to develop his real estate business, Oscar is sharing his success with others through offering educational short sale seminars. Oscar's Short Sales A-Z seminar was developed based on practical experience and his success in find solutions lenders and sellers alike. His mission is to continue developing his techniques with hands-on experience in the field of pre-foreclosure investing while creating well-organized and fully detailed Short Sales products that are educational for real estate brokers, Mortgage Brokers, and Real Estate Investors. For more information, visit us at our website BestShortSales.com.
Author RSS Views:
Print this article
Ask about this article