Murrieta, CA Foreclosure Update

By
Real Estate Agent with Realty One Group/SW Temecula Murrieta, CA.

Murrieta, CA Foreclosure Update

Most of us here in the Murrieta, CA area and all over the country grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled. 

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home.  Millions more homes across the nation will be lost to foreclosure before this real estate crisis runs its course.

Murrieta, CA Foreclosure UpdateAccording to RealtyTrac, which tracks foreclosuresCA was third-highest in the nation for foreclosure filings in 2011 with more than 3 percent. Riverside County, CA had the highest foreclosure rate in the state during the first half of 2011. Between January and June, 2011 a total of 25,901 mortgage default notices, auction sale notices and bank repossessions were recorded countywide, translating to 1 in 30 households in some stage of foreclosure.

Murrieta, CA had the fourth highest rate of new foreclosure activity in the county, behind Moreno Valley with the third highest, Corona with the second highest and Riverside with the highest, reports showed. 

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty.  And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure can even complicates employment prospects. 

Murrieta, CA Foreclosure UpdateThe impact of foreclosure here in Murrieta and across the country is huge and the sad fact is that it’s often avoidable.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners here in the Murrieta, CA area with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about in the Murrieta, CA area is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

If it's time to talk to a Realtor® who knows Murrieta, CA Homes and Real Estate or if you have specific questions relating to homes and Real Estate in La Cresta, Menifee, Murrieta, Temecula, Wildomar, Winchester, CA, give me a call at 951.764.4318, or email me at sellwitheric@gmail.com.

Visit www.buywitheric.com to search for homes, get community information, and learn more about Real Estate in La Cresta, Menifee, Murrieta, Temecula, Wildomar, Winchester, CA. I invite you to visit my website and become a Murrieta Market Insider today! 

 

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Eric Erickson                                                                         file://localhost/Users/ericerickson/Downloads/AJIlogo_signature.jpgAllison James Estates and Homes
(951) 696-5782
(951) 764-4318
sellwitheric@gmail.com
www.sellwitheric.com

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Rainmaker
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David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

Looks like recovery will takle awhile there. Chicago is not far behind you.

Feb 11, 2012 05:33 AM #1
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Eric Erickson

Murrieta-Temecula CA. Real Estate and Homes
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