Trend in Local Housing Market Includes Many Foreclosure Sales

There has been a significant increase of home sales in recent months in some Los Angeles areas as well as a continued decrease in the average price of homes for sale. The reason for the decreased price and increased sales, however, is a sad reminder of the housing bubble burst that has financially devastated many families. Nearly 50% of homes that were sold in the last several months were houses that had been added to the market due to foreclosure or short sale, otherwise known as "distressed homes". Contact a Los Angeles bankruptcy attorney today if you need skilled representation in a foreclosure matter.

According to home sales data for houses, town homes and condominiums sold in the last few months of 2011, distressed home sales made up 47.5% of sales in one local city and nearly 40% in another. The median sale price of houses in these areas showed a significant reduction by about $20,000 to $60,000. Bank-owned homes are a definite presence in the percentage of distressed home sales. Likewise, homeowners that were able to avoid a foreclosure through a short sale also added to the percentage.

Speak with a Los Angeles foreclosure attorney today!

If you feel that you may lose your home in the Los Angeles to foreclosure, it is absolutely vital that you begin working with a foreclosure defense attorney as soon as possible. A skilled lawyer may be able to help you avoid a foreclosure by guiding you through the many options that might be available to you. Whether you are looking to stop or delay a foreclosure, an attorney on our dedicated team at Pacific Attorney Group may be able to help. By working with a professional who is knowledgeable in foreclosure and bankruptcy law you can discover the best route to take in regard to your personal goals and best interests. A foreclosure can severely impact your credit so you may prefer to avoid having this on your record by pursuing a short sale or deed in lieu. An attorney at our firm carefully goes over the pros and cons of each possible choice so a decision can be made on what is best for each individual client.

Contact a Los Angeles foreclosure lawyerwith us and see how we may be able to help you with your foreclosure defense needs.