Los Angeles Foreclosure Trends - May 2010
Los Angeles had 88,688 foreclosure homes with 14,203 new foreclosure homes in May 2010. The average price of a Los Angeles home was $472,227 and the average sales price of a foreclosed home was $307,819, according to RealtyTrac.com. A $164,409 savings.
Los Angeles Foreclosure Activity and Home Price Index
There were 14,203 foreclosures in May while price appreciation was 0.00%.
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 were 0.17% above national statistics and 0.12% below California numbers.
Los Angeles Foreclosure Activity by Month
The number of bank-owned properties increased from 2,857 to 2,652 in May. Pre-foreclosure acitivity dropped from 5,721 properties to5,021. The number of auctions also increased from 5,900 to 6,530.
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.
