January saw a big jump in the foreclosure notices in the Bay Area – up by 40% compared to a year ago, as banks move past the self imposed moratorium. A total of 2,615 homeowners in Alameda, Contra Costa, Marin , San Mateo and San Francisco received a notice of default in January. That is an 8.3% increase from December 2010. In Alameda alone, the notices of default went up by 30.1% as compared to January last year. Several banks have improved their short sales processing to accommodate the likely increase of such sales, which is being reflected in a higher number of successful transactions.
On a positive note, the bay area added 1,800 jobs in December even whilst California’s unemployment rate worsened to 12.5% from 12.4% in November.
Contact Anju Bhatia for more information on foreclosure homes in the Pleasanton, Livermore, Dublin or San Ramon areas or visit http://www.anju4homes.com/
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