Foreclosures Up 14.8% in Santa Cruz

Foreclosure Sign

Well folks, many people have been saying for years that a day of reckoning would come, and that day may now be upon us. DataQuick is reporting that foreclosures in California for the 4th Quarter of 2005 were up 19% over the quarter before, and 14.8% in Santa Cruz county. That is a significant jump! Why are foreclosures up, even though the unemployment rate has held steady or improved? I invite you to read the article on DataQuick’s web site:

http://www.dqnews.com/RRFor0206.shtm

There are of course many theories as to what is going on here, but it all boils down to this: many people have bought properties they can barely afford, and when their circumstances change (through job less, divorce, higher interest rates, etc.) – they get behind on their payments.

It is important to note that these foreclosure numbers are for foreclosure notices only – many home owners, when they receive a foreclosure notice, are able to take steps to stop the foreclosure process and stay in their homes.

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I've been helping my clients get rich in Bay Area real estate since 2003. My decades of hard-won experience in the Silicon Valley real estate market provide sharp insights and invaluable lifestyle knowledge, empowering clients to make confident, informed decisions when selling, buying, or investing. Contact me to make your next move the best one yet.