Foreclosures Continue to Rise

The Santa Rosa real estate market is not immune to the foreclosure crisis that has infected California. With median home prices falling and more foreclosures on the horizon there won't be a bottom till next spring. If you are thinking of buying a home, be sure to save as much as you can and keep your dept low, there are deals to be had on Santa Rosa homes.

clipped from biz.yahoo.com In all, some 63,061 homes were lost to foreclosure in the second quarter -- the most in any quarter since 1988, when the firm began tracking foreclosures. Foreclosures, measured by the number of trustee deeds recorded, increased about 33 percent from the previous quarter and jumped 261 percent versus the same quarter last year. Notices of default, meanwhile, more than doubled in the second quarter to 121,341 loans on a total of 118,020 homes, compared to the year-ago period. Most of the home loans that slipped into default in the most recent quarter were made between September 2005 and November 2006, as air came out of the housing bubble.