California Foreclosures Hit 4 Year Low-

For some good news for a change, go to http://dqnews.com/Articles/2011/News/California/CA-Foreclosures/RRFor110719.aspx

WHAT % OF SALES ARE SHORT SALES OR BANK OWNED?

 - In Northern SLO County, for the 1st 6 months of this year, 39% of the residential sales were lender owned properties (REO's) and 18% were short sales (where the lender agrees to take less then what is owed on the loan payoff at closing) which make a total of 57% of the sales being what are known as "DIstressed Property Sales".

PROPERTY TAXES, THE SILVER LINING

PROPERTY TAXES, THE SILVER LINING - We all hate property taxes, right? Right. Well, be glad you live in California.-Well, guess where we rank in property tax rates? - Out of 50 states, we are number 48. That's right. Only 2 other states are lower. The lowest is Hawaii and just above them is Alabama. State with the highest?? -- That would be Texas-- with a property tax rate 2 1/2 time higher then us.

JUNE NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types increased 6% in June over May and 9% over June of last year. Sales for the 1st 6 months of this year are also now up 14% versus the 1st 6 months of last year. Properties in escrow are up 10% over last month and properties on the market are down 2% when compared to the same time last year. Lower prices made this happen!