News about home owners defaulting on their home mortgage is continuing to spread around the country. For real estate in Lake County, California, foreclosures and short sales have mostly affecting homes valued from $200,000 to $400,000. This also includes many waterfront channel homes around Clear Lake.
When looking at the lakefront homes around the lake, there are very few in foreclosure or the short sale process. This may be partly because of the higher values of lakefront homes and that fewer owners got involved in the ‘creative loans’ that had been available a few years earlier.
It appears that the waterfront channel homes may be affected much more than the lakefront homes when it comes to selling. There usually are more waterfront channel on the market for sale as compared to lakefront homes. So along with the higher numbers of waterfront channel homes for sale plus the compounded effect of foreclosures and short sales, it is very competitive and challenging to sell a home on the channel.
Here is a link to a list of Waterfront Channel Homes and Lakefront Homes for sale around Clear Lake.