From a peak of 1,555 Napa Valley residential foreclosures in 2,009, only a total of 71 homeowners were foreclosed on last year. This is the lowest number of foreclosures since 2006 when only 22 homeowners suffered this fate.
Even though only 71 lost their homes in 2014, 188 property owners received a notice of default. This is the first step down the foreclosure road. This compares to 135,431 receiving this during the first quarter of 2009.
When looking at the number of distressed sales, foreclosures and bank owned in my multiple listing service’s, BAREIS, the numbers are just as good. There are 406 residential properties for sale and 2 in foreclosure, 6 with a notice of default filed, 6 bank owned and 21 short sales. BAREIS’ number contains about 90 to 95% of all sales that occur.
How can I put it, maybe the best way; oh what a relief it is to paraphrase a popular slogan. Let’s keep up the good work.
You can read more about this in the Napa Valley Register article, “Napa County foreclosures fall to 8-year low” by Jennifer Huffman.
If I can help with a distress sale here, I am experienced in all aspects and have the National Association of Realtors designation, Short Sales and Foreclosures Certification.