So, it is official…Stockton is the foreclosure capitol of America. According to a 60 Minutes report, with a clip airing on Yahoo, this Central Valley town has the dubious honor of being in the worst real estate shape possible at this point in time. Recordnet.com reports that foreclosures are up 90% over last year in San Joaquin County as a whole, and many of these appear to be in the newer developments. The 60 Minutes clip showed a realtor driving through Westin Ranch, telling the reporter that 2 out of 3 of the homes in that development were in foreclosure or owned by people in distress. The number of sales signs must be staggering, as are listings for agents. Kevin Moran, the agent interviewed, has 102 listings at the moment, all in foreclosure.
Here are a couple examples of real estate available on the cheap:
3664 Higgins Avenue, Stockton
4/2, 1948 sf, 3 years old, near golf course
$279,900
2315 NE Hydrangea Drive, Stockton
3/2, 1607 sf, 1 year old
$216,950
9118 Bainbridge Place, Stockton
3/2, 1503 sf, 17 years old
$209,000
NEWS:
For those of you with friends or relatives on the “other” coast or with intentions of moving to Boston or Washington, DC, Redfin has launched Sweet Digs blogs in both cities. The Boston blog covers the South End, Back Bay, Beacon Hill, Beverly, Salem, Brighton, Brookilne, Somerville and Cambridge. The DC blog covers McLean, DC, Loudoun County, Bethesda, Chevy Chase and Silver Spring. A big shout out to our new bloggers!
BONUS: Animated clip “Buy America!” by Mark Fiore. Hilarious.
Recent Sweet Digs Posts:
Less Is More For Berkeley Buyers As Prices Are Cut By 15% And More
SF: The Aged Listing
Rain Won’t Stop this Marin Market
Will the Tax Rebate Stimulate the Economy As Planned?
Are You a Non-Conformist?
“Token” is the Word of the Day…
SF and Daly City: Vote For Change!
Breaking the $500K Barrier in San Jose
Walnut Creek Market Weakens
$1 Million To Spend: What’s Better, The City Or The (Non) Burbs?
Selling Below Last Sales Price in Marin
United States
Canada