Jan 26 2008
Foreclosures in Malibu. Where are the doom and gloomers?
Yes, there are a lot of foreclosures going on in many parts of California, but the Westside and Malibu seem to be a shelter in the storm. Check out these stats from the TerraFirmaLA Blog.
FORECLOSURES – June 1-Dec. 31, 2007
Valley areas not doing so well
- Woodland Hills (91364, 91367) – 100 foreclosures
- Tarzana (91356) – 69 foreclosures
- Encino (91316, 91436) – 54 foreclosures
- Sherman Oaks (91403, 91423) – 43 foreclosures
Areas doing well
- Miracle Mile (90036, 90048) – 7 foreclosures
- Bel Air/Holmby Hills (90077) – 11 foreclosures
Prime areas
- Westwood (90024) – 11 foreclosures
- Cheviot Hills/Rancho Park (90064) – 3 foreclosures
- Pacific Palisades (90272) – 4 foreclosures
And Malibu (90265) 1 FORECLOSURE So where are you going to invest in real estate? Click here to find out about foreclosures by zip code. Here’s a chart where you’d better hope you didn’t buy something recently.
Source: RealtyTrac.com
There are plenty of properties in preforeclosure though in nearly all these areas, including Malibu. The owners could still keep them, but it doesn’t really stand to reason that people with plenty of money lying around would stop making mortgage payments. Upshot: you might want to give it 6 months on these bold predictions.
I guess you cant list everyones hood but Silverlake is right in that Prime category.