Tuesday, August 14, 2007

Only foreclosures are moving...

Today, L.A. Land reports that So Cal home sales are 54% below their peak:

"Some industry experts have warned that August sales may be even weaker, given the widening credit squeeze that has spread to non-subprime mortgages. The only area of sales growth: foreclosed houses, which now make up 8.3% of the Southern California home sale market, up from 7.7% in June and just 2.0% last July, DataQuick reports."

So the following listing was foreclosed and then resold to Mr. Mosher who is now listing it for sale. Let's watch and see how Mr. Mosher does with his foreclosure purchase.

5703 BUCKNELL AVENUE, Valley Village, CA 91607
(MLS #F1729038)

Listed 08/01/07.

Price Reduced: 08/14/07 -- $719,000 to $689,999
Price Reduced: 08/25/07 -- $689,999 to $670,000
Price Reduced: 08/27/07 -- $670,000 to $659,999
Price Reduced: 08/28/07 -- $659,999 to $649,999
Price Reduced: 09/13/07 -- $649,999 to $634,999 (down 11.68%)

Zestimate $645,201

Property Shark details:

$534k Grant Deed HSBC Bank to Mosher, Michael

$451k Trustee's sale from Alliance Title to HSBC Bank

$000 Grant Deed from Garcia, J C to Garcia, Hayde

$148.5k Grant Deed from Bin, Fred & Anna to Garcia, Joel & Hayde