San Bernardino Troubles Attributed to Decline in Property Taxes

The city of San Bernardino is planning to file for chapter 9 bankruptcy protection, as it has seen large numbers of foreclosure activity during the last few years. In May and June the city had the dubious honor of having the third highest foreclosure rate amongst California cities with a population of 200,000 or more.

Fewer Distressed Properties Sold in California

Distressed properties in Los Angeles County accounted for 51% of homes sold during March, down from a total of 56% in February, according to the California Association of Realtors yesterday.

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