Straight Talk About Real Estate

Lending institutions sent 18,668 default notices to California homeowners during the January-to-March period. That was up 23.4 percent from 15,122 for the prior quarter, and up 28.7 percent from 14,501 for 2005’s first quarter, according to DataQuick Information Systems.

Housing appreciation has slowed down. Instead of being able to sell their house for a profit, homeowners who cannot make their payments or must move may have to let their house go into foreclosure. Last year, I said foreclosures were rare. Now we are beginning to see more foreclosures coming on the market.

Read more about Calfornia Foreclosure.