I was checking out some sites in Southern California. Like Nevada, California has a fairly high number of foreclosures happening in some areas. If you do a search for California cities that have high foreclosure rates, you’ll get quite a few results. Despite the high number of foreclosures, the southern California market is recovering. I’ve been corresponding with John Warthen, an agent in the Temecula CA real estate market. He is seeing lots of buyers and more importantly, dropping inventory levels.
That really is the key. People are still buying property, but with super high inventory levels the media has a field day (which of course is great for them, bad news gets ratings). California had some of the highest rates in the nation, so if that market is recovering this soon, its great news for the rest of the country.
Filed under: real estate information | Tagged: real estate
