Victorville California has More Foreclosures Than Homes For Sale

More valley homes in foreclosure than for sale

TATIANA PROPHET
November 14, 2007 - 9:38AM

VICTORVILLE — There are more homes headed for foreclosure — or already on the auction block — than there are for sale, according to listing service RealtyTrac. In Victorville, 1,366 homes are in pre-foreclosure, indicating the owner has received a notice of default. There are 314 homes on the auction block and 659 owned by the bank as of Monday. By contrast, 442 homes were listed for sale in Victorville, 46 by owner, 303 by realty company and 93 as new homes.

http://www.vvdailypress.com/news/homes_3693___article.html/sale_victorville.html

Valley Housing Market Dismal

November 2nd, 2007 @ 7:43am
by Hanna Scott and Jon Zimney/KTAR

Arizona ranks among the top 10 states in the nation in foreclosures, the number of homes for sale in the Valley is at its highest level in years, and people who absolutely must sell face problems.

``Once we take the listing, we tell them up front that we have to adjust the price every 30s days," said Avi Asallas of Century 21."

And he makes no promises. ``Before, we could sell a house within 30 to 60 days, but now we cannot put a time frame on it because there are so many properties."

One of the biggest problems is the competition from new auctions and foreclosures popping up every day, he said.

Meanwhile, a number of Valley residents are going through foreclosure.

``I bought a house for $400,000 in Maricopa, and my house isn't even worth $280,000," said one woman.

http://ktar.com/?nid=6&sid=636171

More California Housing

http://www.mercurynews.com/ci_7175582?nclick_check=1

Big winners, losers at auction of new Manteca homes
THOSE WHO GOT HOUSES ARE ECSTATIC, PAYING FAR LESS THAN CURRENT OWNERS
By Julia Prodis SulekMercury News

When homeowner Dave Cantrell walked into the hotel ballroom Saturday where Anderson Homes was auctioning off one-third of the brand-new houses in his Manteca subdivision, he tried to be optimistic.

"I'm feeling my worst fears right now," said Cantrell, who estimated that the auction devalued his neighbors' homes by roughly $200,000 each compared with what many of them paid a year ago. "I lost a quarter million dollars in value. I'm screwed."

Cantrell bought his home a year ago for $670,000 (not including the $90,000 he paid to install a pool and miniature golf course). The winning bidder Saturday of an identical home five doors down the street paid $391,000 - 38 percent less than what he paid.

These houses are not in foreclosure. They are brand-new ones that Anderson Homes couldn't sell no matter how many free upgrades it offered.
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http://www.recordnet.com/apps/pbcs.dll/article?AID=/20071016/A_NEWS/710160320/-1/A_BIZ

Stockton agent offering foreclosure bus tours

By Bruce Spence
Record Staff Writer
October 16, 2007 6:00 AM

STOCKTON - It's not a magic bus, just a vividly marked one - REPO HOME TOUR.COM - that real estate agent Cesar Dias hopes will work some magic for him in a bleak home-sales market.

New Home Auction in Casa Grande and Maricopa

This was advertised in the Kingman paper, but the homes are in Casa Grande and Maricopa. New homes with starting bids more than 50% off of the previous asking prices.

http://www.publicredcauction.com/auction_details.php?auctionID=D-004

Community details and pictures.

http://www.publicredcauction.com/community.php

Milwaukee Boat loans hit choppy seas

Worsening credit crunch has area repossessions on the rise, experts say

By RICK BARRETTrbarrett@journalsentinel.com
Posted: Sept. 11, 2007

More consumers are getting swamped in their boat loans as credit woes worsen.

In the Milwaukee area, companies that repossess recreational watercraft say their business is up between 20% and 50% from a year ago. They're hauling away boats that cost tens of thousands of dollars, or more, after the owners fall several months behind on their payments.

http://www.jsonline.com/story/index.aspx?id=660784