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October Foreclosures

Here are the percentage of the homes Sold in October that were foreclosures (REOs and Short Sales) in each city. Don’t get too alarmed by some of these. For example, Los Osos had a 50% rate but that’s because only 4 homes sold last month and 2 of those were foreclosures. The one that does stand out to me is Nipomo. While it didn’t have a lot of homes sold in October (15 total), 80% is a pretty high rate. 58% for Paso Robles is also interesting simce its average for the first 9 months of 2008 has been around 40% foreclosures.

Santa Maria and Orcutt continue to have high foreclosure rates.

Arroyo Grande – 23%
Atascadero – 44%
Avila Beach – 0%
Cambria – 0%
Cayucos – 0%
Grover Beach – 28%
Los Osos – 50%
Morro Bay – 17%
Nipomo – 80%
Oceano – 0%
Orcutt – 84%
Paso Robles – 58%
Pismo Beach – 0%
San Luis Obispo – 1%
Santa Maria – 94%
Templeton – 25%

Also, 76% of all foreclosures were REOs and 24% were short sales.

Written by Keith Byrd - Go to Keith's Website/Profile