WOW !!!!!

We have reached 451 notices of trustee sales per month.  Isn’t fahrenheit 451 the temperature paper bursts into flame??  Well, at least Ray Bradbury thought so.

Any way you look at it, these statistics are hot.  If you project the number to an annual basis that would be around 5,400 foreclosures per year.

Take a look at the graph.

There is optimism in the market place.  Sales and refinances are up from the last quarter of 2008.  However, until the REO (Real Estate Owned by banks) tops out and goes into a decline, property prices and values will continue to suffer.

Ralph K. Olsen, IFA

Pacific West Appraisal Services, Inc

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