Friday, March 12, 2010

Foreclosure Activity Keeps Surging in Crystal Cove

Time for an update on foreclosure activity in Crystal Cove. Like anywhere else, a spike in foreclosure activity is likely to precede a drastic drop in home prices.

And the Crystal Cove foreclosure activity is UP since I last checked.

The foreclosure activity includes recorded notices of default, trustees auctions and then the resulting properties are "bank owned."

About twelve months ago, there was only one property in crystal cove that had foreclosure activity. About six months ago or so there were five properties involved in foreclosure. The twelve. And as of today, there are thirteen, according to Realtytrac.com. This pretty much proves out what I've seen with the homes in Crystal Cove - homes can't be sold for the debt they carry and home values are dropping fast. Homes that are priced high are just sitting there with a few exceptions...... Some listings have drastically reduced listing prices as some owners have determined that it is better to get the home value now rather than lose more in the coming months.

How many of those "good" real estate agents have told our readers about this spike in foreclosure activity in Crystal Cove? Or do you see agents citing the same old and tired statistics. Be careful out there......

6 comments:

Anonymous said...

Hey Blue:

OK now I am confused. Are you referring to Redfin stats? The same ones you just old me can't be relied on?

Can you make up your mind please?

Can we use Redfin stats or not?

Mr. Blue said...

My, my, must have struck a nerve.
As stated in the post, the foreclosure activity data comes from realtytrac.com.

You are welcome to try again to allege that my counts are not accurate. I'm not a mis-informed buyer.

Of course, you will fail. Again.

Anonymous said...

OK, just to make sure. Realtyrac.com is a trusted information source Can we BOTH use data from there? Or just you?

I want to make sure that you "as the expert" gets his facts right.

I would hate for you to overpay for a house based on wrong information.

Anonymous said...

OK, now that RealtyTracis a trusted souorce, I only see nine in PREFORECLOSURE.


Is that the same as FORECLOSURE?

Can you tell us the difference?

How did you get a different number which is over 30% higher the one I got today?

Robert said...

Mr. Blue, You may find this site helful in your research and commentary. www.RealTAG.com.

Mr. Blue said...

Anon,if you bothered to read the post, you would know where the count came from and what it consists of.

I didn't post anything about how realtytrac.com gets its data or its accuracy. If you think the this web site is flawed, have at it and make your point. You are not doing so well at that.

The foreclosure activity on realtytrac.com shows 13 today, so one of the homes must have dropped off.