The final round of housing and foreclosure data for 2009 was released as the year drew to a close. The numbers cover October, and contain some surprisingly good news regarding California foreclosures.
According to a brief analysis published earlier this week in the New York Times, seasonally-adjusted "price recovery in California seems to be strong." This is in contrast to Florida and Nevada - both, along with California, among the worst hit parts of the country in the housing and foreclosure crisis - where housing prices fell again in October. This, the paper reported, "could mean foreclosure sales are once again dragging prices down." The newspaper was looking at data from S&P Case-Schiller.
In San Francisco and throughout Northern California, Bay Area foreclosure prevention efforts consumed much of 2009. In addition to helping families keep their homes, Contra Costa and Alameda County foreclosure prevention also helps stem the broader slide in the region's housing prices.
When tackling this complex area of financial and real estate law it is especially important to seek the advice and assistance of an experienced San Francisco foreclosure attorney. Loan modification, foreclosure and bankruptcy prevention are all areas in which a Bay Area bankruptcy lawyer can offer help. The fact that we wrapped up 2009 with a smattering of good news does not change the fact that 2010 promises to be another challenging year both for the country's economy as a whole and for the Walnut Creek and broader San Francisco and Oakland housing markets in particular.
New York Times: Bubbles keep bursting
