It’s Raining Foreclosures

 I was listening to the news today and heard that California is number one in foreclosures. We’re talking 250,000 of them in 2007!

No shock as we continue to hear that The Fed is cutting rates, which it did again this morning according to bankrate.com and we hear day in and day out that people are struggling to make their mortgage payments. According to a report on DQNews.com the number of foreclosures is going to continue to rise as we move through 2008, sorry folks.

The report also says: The median price paid for a California home peaked at $484,000 last March and declined to $402,000 by the end of 2007, although much of that decline was caused by significant shifts in the types of homes that were sold.

So, with all of these housing problems, is it still possible to get the best-bang-for-your-buck or is that something that has fallen into the has-been file along with “Furby,” “Pet Rocks” and “Disco?”

Here’s a look at what Dana Point has to offer that might still be considered your best-bang-for-your-buck:

25701 Fisherman Dr. #211 This 3 br/3 baths, 1,883 sq. foot, two-level condo built in 1986 is back on the market and has bright floorplan. It is selling for $530,000. Price per square foot? $281.00  

24732 Meridian Dr. This 3 br/3 bath, 2,065 sq. foot, two-level condo, built in 1978 and located in Sea Ridge community. It is selling for $720,000. Price per square foot? $349.00.

32782 Shipside Dr. This 5 br/2.5 bath, 2,578 sq. foot, single-family residence built in 1976 has two levels, large entertainer’s backyard and is selling for $899,000. Price per square foot? $349.00.