Stockton, California Real Estate: Pain & Opportunity

Las Vegas Gay Real EstateFew areas have been through a longer and darker tunnel than this central California city.

Since peaking in 2006, Stockton’s median home price is down 62 percent. For three of the past four years, Stockton ranked in the top five nationwide for foreclosures, says market researcher RealtyTrac. In January, six of 10 homes for sale in the city either were bank-owned, in foreclosure or tied to a delinquent mortgage.

Yet there are glimmers of change. Last year, Stockton dropped to No. 7 in foreclosures nationwide. Local Realtors say there are more non-distressed homes for sale now than there were a few years ago. More low-ball offers are being refused. And multiple offers are common on lower-end homes.

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