Ventura County foreclosures grew from 114 to 542. It was the county's highest quarterly foreclosure total since DataQuick started tracking the numbers in 1988.
...DataQuick estimates that 41 percent of California homeowners who receive default notices can get out of the foreclosure process by bringing payments current, refinancing or selling their homes.
In Ventura County, there were 1,505 default notices in the fourth quarter, a 89.4 percent increase from a year ago.
Okay, 542 FCs last quarter and 59% of NODs going to FC means 888 this quarter.
Sales expected this quarter? 1200. Does anyone hear a train whistle? That isn't the light at the end of the tunnel, that's the fuse burning as the tunnel is about to be closed off. Only 100 people or so each month can expect to sell their homes. This compared to the 850 per month that were selling in 2006. Note to would be sellers; the train has left the station.