According to an article in yesterday's Mercury News forecosure are on the rise in CA - 1,000 were put on the auction block each weekday in April. In Santa Clara there were 500 such sales in April, things are hearing up that is a 47% month over month change in the foreclosure numbers, and a whopping 585% increase over last year's numbers.
Number of foreclosures surging in South Bay, throughout state
Business Week noted recently that no U.S. Metro had slashed home prices more in the past year than Sacramento - no surprise then that investors are flooding that market which is beginning to see multiple offers again. Is it better to burn through surplus inventory - this lead to a quicker recovery. Is Sacramento is seeing the bottom - I believe the the entry level houses are looking good right now especially if you can get them where they become close to cash-flowing, but the higher end homes have a way to go.
Thursday, May 15, 2008
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