The market is upsettingly unhealthy, and has been sitting in the danger zone for a while. It’s the least healthy market in its immediate area, if not all of Southern California. There’s nothing that a homeowner can do that would affect the market as a whole, but there’s always the option of selling and removing yourself from the declining situation.
Foreclosures in Adelanto are shockingly common. One in every 5,000 homes in the United States will face foreclosure. In Adelanto, that number is 7 in every 10,000. This is very disproportionate, but it directly relates to the tough economic status of the area.
Values dropped and never recovered, and a lot of homeowners found themselves unable to maintain their mortgages. That’s also why negative equity in Adelanto is double the national average.
The only good news about a foreclosure notice is that it doesn’t have to be the end. You can technically still sell your property all the way up to auction day.
Since foreclosure is so alarmingly frequent, many lenders are willing to offer alternatives, such as short sale, to homeowners in the Adelanto area. Your lender doesn’t want to foreclosure any more than you do, and you both already have your hands full.