Thursday, December 13, 2007

Santa Barbara Foreclosure Info Nov. 2007

I wasn't sure if there would be anything interesting to post about until I gathered the numbers. I am only hazarding a guess when I say that if you look at the last few months it would appear that the foreclosures in the county are slowing down a bit. The number of Notice of Defaults that were recorded in November fell to 121 as compared to 176 and 209 in the previous 2 months. I would think that would be the leading indicator of what the foreclosure activity is. The bank owned properties that sold were 17 which is a bit more than in previous months which might indicate there will be less of these properties on the market soon. The properties the banks took back was 40 which was down slightly from last months 45. The number of loans that adjusted in November was 220 which is the highest number I currently show through June of 2008. You can draw your own conclusions, but from what I can tell the foreclosures look to be slowing down, and hopefully that isn't because of the holidays season. See You In Escrow!

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