We have been tracking real estate short sales in Southern California in the San Gabriel & San Bernardino area since 9/25/06 and have seen a continued increase.
Here is some of the stats we have gathered in that time:
9/25/06 – 118 active
10/2/06 – 138 active
10/5/06 – 147 active
10/6/06 – 154 active
10/23/06 – 179 active
11/7/06 – 204 active
11/13/06 – 215 active
01/08/07 – 268 active
2/14/07 -195 active
I remeber the late 1980’s early 1990’s when 51% of all homes sold in Orange county were short sales. I truly believe with the current mortgage credit bubble which will cause elimination of the “stated income” (aka liar loans) loans for salaried individuals, we will see a dramatic increase in short sales nationally.
