| Foreclosures | NOD's * | Inventory ** Single Family |
Condos | |
|---|---|---|---|---|
| North Cathedral City | 332 | 355 | 149 | 49 |
| South Cathedral City | 61 | 45 |
Cathedral City is separated by Ramon Ave….North of Ramon is North Cathedral City while everything South of Ramon is South Cathedral City, including the Cove.
In the last nine months, foreclosed properties have increased by 78 homes and Notice of Default Filing have increased by 149 homes. Available inventory has DECLINED by 82 homes.
Lenders are very willing to work with homeowners in default by working to facilitate a short sale. This willingness by the lenders should preclude a huge wave of foreclosures and help stabilize the real estate market.
As inventory continues to decline, many properties receive multiple offers within days of being on the market.
The observations represented are my opinions only, based on experience and working in the desert area for many years.
Foreclosure stats have been obtained from www.foreclosure.com.
Inventory stats are from the Desert Area MLS.
* Notice of Default filed.
** Inventory is defined as properties currently listed for sale in the local multiple listing service. A large number of these properties are foreclosure properties, also known as Bank REO.
Hi, I'm Jeannie. For over 25 years I've helped investors make money in markets both good and bad. 
