Southern California Foreclosures: UP, UP and Away

Calfornia Foreclosure & Real Estate News

According to reports, Southern California foreclosures increased by 32,800 in March, from February 2008.

One foreclosure reporting company stated that Inland Empire foreclosures where the highest with Riverside County representing 7.9% of all homes facing foreclosure. San Bernardino County was just behind with 6% of all homes in default.

The time is ripe for investing as median home prices continue to drop throughout California and the rest of the nation. The saturation of homes on the market is one factor further fueling the drop in prices.

For those home buyers able and willing, this is the time for real estate investing and specifically investing in the California foreclosure market. While “flipping” was profitable at the height of the last real estate boom, the current market is more favorable to rentals.

With an accurate California foreclosure listings service, investors and first-time homebuyers can spot unique investment opportunities and begin to profit in a down market.

California Foreclosure Listings (http://www.foreclosurelistingsCa.com) offers comprehensive foreclosure data throughout the state of California. The site also provides a foreclosure investing learning center and links to appraisals, lenders and much more. Below is a preview of some foreclosure stats by county for the state of California.

For Los Angeles County the cities with the most foreclosures, respectively, in the month of March were Los Angeles, Palmdale, Long Beach and Santa Clarita. Please note that Los Angeles County foreclosure rates were only the highest due to the increase of NOD (notice of defaults) from one month to the next.

Orange County foreclosure rates where also among some of the highest with Santa Anna, coming in first, followed by Anaheim, Garden Grove, Orange County, and Fullerton.

Riverside County foreclosure statistics shows the city of Riverside with the most foreclosures followed by Moreno Valley, Corona, Murrieta, and Perris.

San Diego- Foreclosure rates continue to increase, with the hardest hit area being the city of San Diego followed by Chula Vista, Escondido, Oceanside, and El Cajon.

San Bernardino- Foreclosures are the most prevalent within the city of Fontana, followed by the city of San Bernardino, Victorville, Hesperia and Rialto.

For a list of foreclosures in any of the above areas, please visit ForeclosurelistingsCA.com for a detailed look into California foreclosure properties.

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