Purchasing Foreclosure Bargains
It’s hard to have a conversation about real estate today and not mention the foreclosure situation, especially here in California and the Contra Costa County. But, what I’m finding is that a lot of people don’t fully understand the entire foreclosure process and how it is impacting different cities within the East Bay. Notice of Defaults, short sales, auctions, REOs - these are all terms that we hear used in the media, but what do they really mean? Well, I came across a great article on CNN Money this past week that helps explain the different stages to the foreclosure process and how you can purchase properties during each stage. If you have a couple minutes, I’d recommend that you read through it - How to buy a foreclosed home.
In addition, take a look at the following chart - it highlights the impact of foreclosures on some of the major cities in Contra Costa County. As you will quickly see, not everybody is effected to the same degree!
