Where's the foreclosure wave in California?

With a background in foreclosures and short sales - forged in the last market drop - and so much misinformation in the media and social media, I decided it was time to create a video to set the record straight on when a foreclosure wave could come - if there is going to be one. Here’s a hint: it’s not 2020. We have a search link below so that you can start tracking the inventory now...

Every month since the start of the pandemic, we have been creating a video with a guide for tenants and landlords if the tenant won’t be able to pay rent. With an eviction moratorium about to end and questions about another stimulus package, this update comes at one of the most uncertain times yet.

With the Judicial Council eviction moratorium ending, California’s legislation is moving quickly to come up with a moratorium for evictions and foreclosure due to nonpayment of rent due to COVID-19. On Friday night, a new bill was released - COVID-19 Tenant Relief Act of 2020, AB 3088 - that will extend the moratorium through 1/13/21. It has to pass by end of session Monday. The other 2 main bills under consideration to offer eviction protection - AB 1436 and SB 1410 - have been replaced by this one. I’ll get you the latest update on AB 3088. 

Links for you:

• Foreclosures in OC and LA - single family and multifamily
• As mentioned in previous emails, we are working hard to grow our YouTube channel right now and we just passed the 500 subscriber mark, we gained 100 since Friday! (please subscribe here, if you haven’t).
• Search duplexes, triplexes, 4plexes and 5+ units for sale in Orange County
• Search luxury homes for sale in Orange County

Be sure to tune in next Sunday, when we’ll be releasing our next housing market update with August’s final housing numbers, plus now we’ll include foreclosure data. We can’t wait to share! As always, we appreciate your friendship and support...please remember that we’re your real estate resource!