James Madison peers into the window of the empty Santa Rosa home, quickly calculating numbers in his head.
The lawn is dead. Junk mail is piled on the stoop. A notice taped to the front door warns against illegal entry.
A week earlier, the owner lost the West Eighth Street home, unable to pay the mortgage any longer.
Madison’s job is to find someone to buy the small, threadbare house. He figured the residence could easily sell for $145,000, ideal for a first-time buyer — a bargain compared with the $345,000 paid by the previous owner just four years ago as Sonoma County home values were reaching record highs.
Judging by this visual from ForeclosureRadar.com of the current and past foreclosure activity around West Eighth Street, it's no wonder he is busy:
Okay, now I'm scared.
ReplyDeleteBut,But I read an article in the PD that said things were,you know,like,copacetic,and you know it is a good time to buy a home because,like prices are real good,and stuff.I trust ,the PD 'cause whn they say Walmart is having a sale they are right on the money with the prices and everything.
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