Wednesday, October 15, 2008

What Did The Banks Take Back In September?

There is definetely something to be said for consistency! That is what the last 2 months have yielded in terms of properties going back to their respective lenders due to foreclosure.

In August there were 211 and in September there were 209. How's that for a horse race? Seeing this number go lower in the coming months is what I'm expecting since the number of notice of defaults is dropping.

25 of the 209 properties taken back were in the Santa Barbara, Goleta, Montecito, and Carpinteria areas.  This is a small increase over the previous months, but nothing significant.

Countrywide was again the big land baron taking back 45 of the 209 properties. I have only been watching who the lender is for a couple of months now, but Countrywide is certainly the big winner or loser depending on your perspective.

Lompoc had 35 properties and Santa Maria had a total of 125 with the sourrounding areas in the northern part of the county sharing the rest of the properties.

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