Santa Cruz County Notice of Defaults
It is a well-known fact that Watsonville and South Santa Cruz County have been the hardest hit areas with regards to Foreclosures and Short Sales. Thus it is not a big surprise that Watsonville has the most NODs in the county. But what is really surprising is that Santa Cruz is number two and Watsonville has only a little over one third of the NODs in the County. Since the beginning of this year there have been around 220 NODs in Santa Cruz County. NODs are a leading indicator for both Short Sales and Foreclosure Sales, which both have a major impact on property values. This is major contributing factor to the lower median prices in the Santa Cruz and the surrounding areas since April of last year. But more importantly if a good majority these NODs result in Foreclosure Sales or Short Sales, we will see an ongoing negative impact on home values not just in Watsonville, but also in the other areas of the county.
Steve Johnson
MontereyBay Properties
(831) 588 0254
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