Merced, Stanislaus, and San Joaquin Counties, in the Central Valley of CA from Merced to Modesto / Stockton boast the highest number of Foreclosures-- bank owned properties-- in the USA. We are flooded with inventory, and if you plan to buy and hold for the next 5-7 years, now is the opportunity time to invest in long-term cash flow rentals, or move-up to a dream home. Prices are down 50% over the last 24 months, especially in the range of $300k-900k. Yet, houses are selling within 90 days when priced below $250k. Why so many foreclosures? For a few years, it was less expensive to own than to rent. Now, with mortgage rates rising and gas prices rising, communters are returning to the Bay Area to rent. The future demographics for this area show high population growth, and as a result, major department stores and commercial construction are actually rising along the Hwy 99 corridor.
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