San Francisco Bank Foreclosures Growing with Prices Falling

San Francisco bank foreclosures are still growing and prices are still falling, based on data released by a San Diego-based real estate research company and by information analyst Fiserv.

In the Bay Area, a total of 18,812 default notices were sent to distressed homeowners in the July to September quarter, an increase of more than 25 percent from the third quarter last year but marked a drop of nearly 6 percent from the previous quarter.

Across California, the number of default notices increased to 111,689 in the third quarter, an increase of nearly 19 percent from last year’s third quarter, but marked a drop of more than 10 percent from the previous quarter.

By Cassiano Travareli