Los Angeles had 97,287 foreclosure homes with an average foreclosed sales price of $296,966 in December 2009, according to RealtyTrac.com. The average price of a non-foreclosed home was $497,597. There were 8,256 new foreclosure homes in December.
Los Angeles Foreclosure Activity and Home Price Index
Los Angeles foreclosure activity dropped in August while price appreciaiton rose 0.40 percent.
Los Angeles County foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Los Angeles Foreclosure Geographical Comparison
Los Angeles foreclosures are 0.21% above national statistics and 0.12% below California numbers.
Los Angeles Foreclosure Activity by Month
The number of bank-owned properties increased 2,277 to 3,331 in December. Pre-foreclosure acitivity declined for 6,540 properties to 5,719. The number of auctions dropped from 6,447 to 5,719.
Are you or someone you know behind on your mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation.
Have questions about Los Angeles real estate? Ask Eileen!