According to new reports, Northern California saw an uptick in the number of California foreclosures that resulted in a 165% increase in the amount of homes entering some stage of default during the year of 2007. Similarly, the southern half of the state saw a dramatic increase in 2007 as well, as California foreclosure homes in the region saw a 175% rise in the number of defaults, many of these occurring in the areas biggest markets for real estate.

In northern California, the upward trend in foreclosures has been going on for quite some time. Over the past year, foreclosures in cities such as Sacramento have been slowly on the rise. Many believe this has been due to lower income families being unable to keep up with rising interest rates and mortgage payments. Many homeowners got involved in questionable adjustable rate mortgages during the housing boom, and it seems this has been catching up with the region for a while now. But what’s also interesting is that higher income areas, the San Francisco bay area in particular, had seemed to avoid the increasing trend until the later part of 2007. Now, Alameda and Santa Clara counties account for some of the highest rates in the region.

Southern California saw its popular urban areas also bearing the brunt of the foreclosures epidemic, as Los Angeles county saw an increase of nearly 150% in its amount of foreclosures, and San Diego county experienced an increase of well over 200%. Bakersfield foreclosures and San Bernardino foreclosures are also in plentiful supply, driving the prices that lenders are selling foreclosure homes for to extreme lows.

This new data shows that the market for California foreclosure homes is stronger than ever, and that investors looking to take advantage of the discount prices available on foreclosed properties would be wise to start looking into properties available in desirable locations. With the market flooded and many lenders, banks and government agencies severely backed up with foreclosures homes to sell, it may be the best time to get the lowest prices possible on San Francisco foreclosures, Los Angeles foreclosures, San Diego foreclosure homes or other properties in similar locations.

Buying property in these locations is a great example of how foreclosure investing is the best way to buy real estate. While the market may be slow now, buying property in constantly in-demand cities for the huge discounts that foreclosed real estate offers is an incredible opportunity to turn a huge profit in the future. California has long been one of the most desirable states in the nation in terms of real estate, and with the growing foreclosure trend, it seems the perfect time to capitalize on that reputation.

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• Number of Indiana Foreclosures Finally drops
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