Signs of a Depression

Foreclosures drove down the Bay Area median home price to less than $300,000 last month, the lowest in a decade. In Alameda County, 46 percent of existing home sales were foreclosures; in Contra Costa County, the number was a whopping 65 percent. It wasn’t that long ago that the median price was above $500,000. Time to get your property reassessed for tax purposes. The Chron also has a great graphic on how many homeowners are upside down on their mortgages – that is, they owe more on their homes than they are worth.

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