Foreclosure Connections Blog

Across the state of California, sales of condos and foreclosed houses increased with February 2008 recording 20,513 homes. The median price of the bank foreclosure in California in February 2008 was $373,000, which was 2.6% less than the price in January 2008 and 21% less than the median price in February 2007.

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According to a report, the number of home and condos sold in the state of California last year was 20,513. This shows the rate of sales as very slow with the last slow rate of sales being recorded in 1988. The sales of homes including California foreclosure homes were up by 7.1% as compared to the 19,145 in January 2007 but it was down by 34.3% as compared to the 31,228 in February 2006.

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The year 2007 was no better for California as it saw a huge number of default notices being filed by lenders against homeowners. In the last quarter of 2007, the number of notices filed reached its highest level in almost 15 years. This means that there were many more California foreclosures homes that got added to the existing repository of homes. So one hand there is a rising number of foreclosed houses in California and on the other hand not all of them have been sold. This is like a complete deathtrap!

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With the plight of the real estate market in California, San Diego bank foreclosures are absolutely skyrocketing. Homeowners are unable to make costly payments on fantastic homes and while this is unfortunate, the savvy consumer may benefit in San Diego. Homes in foreclosure are popping up all over.

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Anaheim is one of the best cities in California to live in if you like theme parks, sports teams, and convention centers. Searching Anaheim foreclosure homes to get the deal of your dreams is a smart choice. Anaheim in the 10th largest city in California and has over 328 thousand people. There were over 356 thousand Anaheim foreclosure listings in 2007. Perhaps the draw of the world famous Disneyland Resort offering vacation packages or year-round employment for those who choose to live in Anaheim makes it such a popular place to live. There are plenty of hotel and retail employment locations all around the area as well. If you are looking for a great deal in Anaheim, which has a mean household income of over $120,000 then check out Anaheim foreclosure homes.

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More than ever, there are far too many California foreclosure homes that you can avail. They range from various types, such as apartments, single-detached family residences, as well as spacious units in a condominium. California foreclosure homes provide you the best possible way of how to buy a home without having to shell out too much cash.

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As California foreclosure homes in San Diego County continue to climb at an alarming rate, Foreclosureconnections.com is reporting a record high in the inventory of foreclosure homes available in the area over the past few months.

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After almost ten years, the number of foreclosure filings in California has reached its highest level during the first quarter of this year. Experts are blaming it on flat appreciation, mortgage resets and sluggish sales. Most of these foreclosure filings were default notices that originated from loans taken two summers ago until May last year. Loans that went into default were 15 months old on the average. Most of the primary mortgages in default have owners who have failed to make mortgage payments for an average of five months, resulting to the large inventory of California foreclosure homes.

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Last year was a surprising year for the California foreclosures market. 2006 ended with the highest foreclosure rate experienced in the past eight years. From October to December alone, almost 37,273 homes entered some stage of foreclosure. This figure actually represented an unbelievable 145.3% increase from 2005 Q4.

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