Foreclosure Capital of the Country

Stockton California has been highly reported as the Foreclosure Capital of America, however it too is bound to rebound from this housing slump. Below is a blurp from a recent article on MSN talking about a serious increase in activity "...Dias said one foreclosed home he showed last month sold for $80,000, or $11,000 above its asking price, after 12 days on the market. The two-bedroom, one-bathroom house may rent for up to $1,000 a month and generate a monthly profit of up to $400.

Investors likewise pounced on a three-bedroom, three-bathroom home in a gated subdivision that Dias just showed. It has at least three offers at its $220,000 asking price, he said. "People are cherry-picking and finding the right ones," Dias said. "They see prices are at a bottom."

The fact that the supposed worst housing market is showing signs of life only further supports my claim that the worst is over and now the opportunities are emerging. We are continuing to see more positive press and less active listings

Even negative nelbert over at bubbletracking.blogspot.com is showing some serious reductions in inventory in the Sacramento area inventories. I hate to think about what the the "death to housing" bloggers are going to do when the market has stabilized. I'm sure it will be deny, deny, deny and of course they all will have missed the opportunities that exist.

Even more reports to support my claims... the SAC BEE came out last week with this article..."All last year they were among the state's top neighborhoods for foreclosures, those ZIP codes where the American dream of homeownership so often died. In 2008 they're taking top honors for sales. When DataQuick Information Systems reported this week that Sacramento County posted its first gain in year-over year home sales in 37 months, these were the neighborhoods that made it happen: working-class areas in south Sacramento, North Highlands and North Sacramento, Elverta and Citrus Heights."

It is remarkable how when the tide turns, it really turns. All you have to do is type home sales into a search engine and you will get a handful of positive press. Not long ago you would be searching for days.