The market is picking up and according to a CNNMoney article foreclosures are coming down. January saw the lowest bank repossessions since 2006 and a 28% decrease from January 2012. California's "Homeowners Bill of Rights" took effect on January 1, 2013 further protecting borrowers from default and resulting in a 62% decrease in new foreclosure filings in California, taking the state out of the lead for new filings. The market is continuing to recover and steady improvement is forecasted through 2013. As Riskin Associates sold over $220 million in luxury real estate in the Montecito area last year, we are looking forward to further market incline!
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