California Sees Record Foreclosure Sales in April

by on States

California set a new record in April for foreclosure sales, with more than 1,000 homes being sold off at foreclosure auction or through special bank or government home sales per day. This astonishing figure shows that out of the homes going into default, more and more are ending up being sold off through foreclosure sale, as homeowners are simply unable to find ways to refinance or sell with property values so low as a result of the foreclosure trend.

Foreclosure sales totaled over 22,000 in the month, creating an enormous amount of homeowners losing their property, but also a huge number of potential bargains for those looking into foreclosure investing. However, most of these properties actually ended up being awarded to the lenders who foreclosed on them due to a lack of interest at sale. These REO homes are then sold off by the lender through special sales of their own.

If you’ve been holding out on investing in foreclosures in California, now is the time to get involved. Right now there are so many homes at auction there simply aren’t enough people to buy them, so you’ll have the choice of the best homes on the market, and the lowest prices with no competition. The market for foreclosure homes in California couldn’t be better from a homebuyers standpoint.