It’s time for the real estate market statistics: In February, La Crescenta was the poster boy for distressed sales reflected by 3/4's of homes sold in La Crescenta being either short sales or foreclosures.
 


I suppose the silver lining in that cloud is that distressed sales need to work their way through the system before our real estate market heals. 

January’s real estate market statistics reflect just 20% of La Crescenta sales attributed to short sale or foreclosure. I believe the jump in February to be an anomaly; next month the percentage should return to the 20% - 30% figure it has been mostly hovering.  Another factor to consider is that many lenders halted foreclosures and evictions during the holidays.  Also, last fall many loan servicers put a temporary hold on their foreclosures.



Spring has sprung and home buyers are out in force.  My telephone volume has fortunately increased! 

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Related Post: Foreclosures on hold, what does that mean?