San Francisco Bank Foreclosures Offer the Best Home Buying Opportunities In California

by Peter Vernon on cities

San Francisco bank foreclosures are on a rise. As the residential housing market is cracking, the homebuyers’ ignorance and aggressive lending by financial institutions and lenders means that homeowners with subprime property loans are being sucked into this financial vortex.

The City of San Francisco is the 4th most populous city in the State of California and the 14th most populous city in the United States of America. Located at the tip of the San Francisco Peninsula, the city is covered by the Pacific Ocean on the west, the San Francisco bay on the east, and the famous Golden Gate on the north.

San Francisco has it own brand of lifestyle. Being an internationally popular tourist destination, Frisco as it’s popular called, offers excellent views of the ocean, striking Victorian and modern examples of architecture, steeply rolling hills and a chilly summer fog.

With people struggling between trying to make a decent living and meeting their mortgage payments, San Francisco bank foreclosures are more a reality now. California bank foreclosures are one of the highest in the country and San Francisco offers long foreclosure listings that have increased over the first half of 2007. Too many of the affluent people in the swanky Bay Area are losing their homes.

Aggravating this situation further is the fact that those homeowners who were on the threshold of foreclosure went ahead and bought new homes. Perhaps this act was direct outcome of wanting to live the American dream of having your own home. Whatever the reason for such a decline, San Francisco bank foreclosures are here to stay and if you are looking for your dream home in this vibrant city that is home to famous landmarks such as the Golden Gate Bridge, Alcatraz Island, the cable cars, and Chinatown, then foreclosure homes offer you a great first time buying opportunity.