Los Angeles County Foreclosures DECLINE in February 2008
Antelope Valley areas of Palmdale, Lancaster and Quartz Hill show high numbers of trustee sales.
Santa Clarita continues to have low foreclosure numbers compared to the rest of Los Angeles County for February 2008. Important to note is that February 2008 trustee sales DECLINED 34.6% from the January numbers, which is definitely good news! Thankfully, none of the Santa Clarita zip codes are on the Top 20 list for trustee sales in Los Angeles County provided by Property Shark, which has been true since we first started reporting these numbers several months ago.
Palmdale and Lancaster once again retain the top positions on the Los Angeles County foreclosure list, with zip codes 93550 and 93535 showing the highest number of new Trustee Sales in Los Angeles County for February 2008 according to Property Shark with 114 and 97 Trustee Sales each, respectively. Compared to the 217 Trustee Sales reported in January 2008 for Lancaster’s top zip code 93535, this is a huge 55% decline! Next in line are Palmdale’s zip codes 93551 and 93552 with 59 Trustee Sales and 55 Trustee Sales, respectively.
The average owed per these foreclosure data sources can be misleading, since often this includes only the mortgage being foreclosured upon (most likely the first), while often there are large second mortgages and possibly third and fourth mortgages being written off as well. The average loan amount for single family homes, with 2,304 new single family trustee sales, was $383,171, down slightly from the average as of the 4th Quarter of 2007 which was at $397,279.
New to the Hot Zone list this month are 90280 in South Gate and 90043 in Los Angeles. Falling off the top 20 list this month is the San Fernando Valley area of Panorama City, as well as Pomona and some areas of Los Angeles.
The trend in the number of new Trustee Sales reported monthly is finally starting to trend downwards this month. Here are the numbers for Los Angeles County, including all types of properties (single family, multi-family and other residential).
| Jul ‘07 | Aug ‘07 | Sep ‘07 | Oct’07 | Nov ‘07 | Dec ‘07 | Jan ‘08 | Feb ‘08 |
| 1,715 | 1,897 | 1,709 | 2,154 | 2,443 | 2,029 | 3,857 | 2,527 |
Property Shark’s Hot Zone report for February 2008, January 2008 as well as the 4th quarter 2007 (3 months) vs 3rd quarter 2007 (3 months) is below. These are the 20 zip codes in Los Angeles County with the highest number of foreclosure trustee sales for the reported time period.
The zip codes with NA instead of numbers on the table below did not make the Top 20 list for that time period.
| Zip | City |
FEB ‘08 # of Sales |
FEB ‘08 Average $ Owed |
JAN ‘08 # of Sales |
JAN ‘08 Average $ Owed |
4Q ‘07 # of Sales |
4Q ‘07 Average $ Owed |
3Q ‘07 # of Sales |
3Q ‘07 Average $ Owed |
| 93535 | Lancaster | 97 | $238,475 | 145 | $254,700 | 217 | $251,095 | 174 | $241,143 |
| 93550 | Palmdale | 114 | $269,467 | 143 | $275,645 | 211 | $264,405 | 186 | $255,429 |
| 93551 | Palmdale | 59 | $369,722 | 78 | $390,351 | 125 | $380,579 | 104 | $394,169 |
| 93536 | Quartz Hill | 45 | $294,046 | 78 | $307,296 | 139 | $344,391 | 85 | $322,525 |
| 90650 | Norwalk | 36 | $358,442 | 74 | $416,596 | 104 | $342,704 | 61 | $339,693 |
| 91331 | Pacoima | 29 | $328,288 | 72 | $377,409 | 103 | $397,923 | 70 | $347,487 |
| 93534 | Lancaster | 36 | $251,447 | 70 | $261,477 | 131 | $249,274 | 90 | $256,124 |
| 91342 | Sylmar | 44 | $377,587 | 68 | $497,265 | 112 | $396,154 | 104 | $351,873 |
| 93552 | Palmdale | 55 | $285,468 | 65 | $335,938 | 124 | $293,888 | 88 | $293,189 |
| 90805 | Long Beach | 41 | $341,743 | 57 | $364,340 | 96 | $358,768 | 79 | $365,642 |
| 91402 | Panorama City | NA | $NA | 53 | $354,595 | NA | $NA | 48 | $343,777 |
| 91766 | Pomona | NA | $NA | 48 | $372,277 | NA | $NA | NA | $NA |
| 90044 | Los Angeles | 29 | $352,489 | 48 | $312,397 | 76 | $340,101 | 70 | $325,596 |
| 90003 | Los Angeles | 28 | $326,315 | 46 | $337,889 | 70 | $320,128 | 64 | $359,478 |
| 91744 | La Puente | NA | $NA | 41 | $323,768 | NA | $NA | NA | $NA |
| 90221 | Compton | 28 | $328,803 | 38 | $266,437 | NA | $NA | NA | $NA |
| 90280 | South Gate | 28 | $359,604 | NA | $NA | NA | $NA | NA | $NA |
| 91335 | Reseda | 28 | $387,487 | 38 | $421,662 | 93 | $395,098 | 57 | $393,023 |
| 90220 | Compton | NA | $NA | 37 | $285,655 | NA | $NA | NA | $NA |
| 91767 | Pomona | 24 | $339,781 | 37 | $325,816 | NA | $NA | 52 | $335,404 |
| 90011 | Los Angeles | NA | $NA | 36 | $338,213 | NA | $NA | NA | $NA |
| 90047 | Westmont | 26 | $319,750 | NA | $NA | 67 | $332,986 | 50 | $347,800 |
| 90002 | Los Angeles | 24 | $305,251 | NA | $NA | 68 | $320,769 | 56 | $298,677 |
| 91306 | Los Angeles | NA | $NA | NA | $NA | 63 | $436,470 | NA | $NA |
| 91344 | Granada Hills | NA | $NA | NA | $NA | 61 | $504,254 | 61 | $476,310 |
| 91745 | Hacienda Heights | NA | $NA | NA | $NA | NA | $NA | 53 | $453,847 |
| 91367 | Woodland Hills | NA | $NA | NA | $NA | NA | $NA | 49 | $568,111 |
| 91343 | North Hills | 29 | $428,101 | NA | $NA | 61 | $410,440 | NA | $NA |
| 90043 | Los Angeles | 23 | $408,350 | NA | $NA | NA | $NA | NA | $NA |
Related Links
Foreclosure and Short Sale Investing Library
Read up on how to invest in foreclosures and short sales.
Foreclosure and Short Sale Investing Library
Read up on how to invest in foreclosures and short sales.
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