Monday, March 9, 2009

Foreclosure Statistics Bay Area Counties

These are the tallies so far for the foreclosures in each of our Bay Area counties. Interesting that the very expensive counties (San Francisco, Napa, Marin and San Mateo) have fared quite well. My two cents on that is - these areas did not have many buyers taking option ARM loans with very low down payments - thereby having healthier financials and more ability to weather storms. This doesn't mean that those areas will get by without turmoil, it just may be lighter and later. I (of course) like the fundamentals in the South Bay - jobs in the long run will be here, there is a scarcity of land and we have a lot of foreclosures from which to choose. Now we are even seeing some good deals on the 85 corridor and the west side.

Napa 539
Sonoma 1804
Marin 286
San Francisco 434
San Mateo 1011
Santa Clara 4738
Alameda 5679
Contra Costa 7877
Solano 3816
Santa Cruz 689