More foreclosures coming in SEH. Living here, its very sad to see SO MANY people struggling to make the rediculous Mello Roos, much less the mortgage while I rent for half the price. On my street of about 20 houses, 3 have foreclosed this year, 2 houses are currently vacant ( one of them not even on the MLS) and I know personally 3 houses who have not made a mortgage payment in over 6 months. It seems that there is a high level of people in SEH that are related to housing, construction and finance, so I know for a fact the REO’s will only increase in 2009. Watch for low $400K pricing this year.
