In February, La Crescenta was the poster boy for distressed sales reflected by 3/4 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.Â
Januaryâ€™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.Â Another factor to consider is that many lenders halted foreclosures and evictions during the holidays.Â Also, last fall many loan servicers put a temporary hold on their foreclosures. Search La Crescenta foreclosures hereFind all La Crescenta homes for sale here Search for La Crescenta short sales here
Related Post: Foreclosures on hold, what does that mean?