Thursday, November 15, 2007

Santa Barbara Foreclosure Info

I started keeping track of the Notice of Default recordings as well as the Trustees Deeds and REO deeds. I have added a new item to the chart this month showing the number of mortgages in the County that are going to reset in that month. The number of Trustees Deeds jumped up a bit which you would probably expect because of the increase in the Notice of Defaults that were recorded the previous months. The REO's stayed about the same and the number of loans that are adjusting is obviously not showing us anything until we get a few months on the chart. I think the fact that the Notice of Defaults has gone down the last couple of months is good news and should reflect in fewer Trustees Deeds and REO's on the market. The one thing I am a bit naive about is whether or not the NOD's are going down because of a seasonal influence or not. Stay tuned, and See You In Escrow!

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