The Santa Cruz Sentinel reports from California. “The median price for a single-family home in Santa Cruz County dropped to $599,000 in January, down 18 percent since December and a level not seen since 2004. Only 63 sales closed escrow, a new low, the previous was 107 in 2006. More than 170 local homeowners have received default notices for not making mortgage payments, up 60 percent from a year ago, and 63 homes have sold at foreclosure auctions compared to 11 at this time last year.”

“Patricia Beckwith, an Aptos accountant who has been tracking sales in the Santa Cruz Record gave up house-hunting last October. She’s not convinced this is the right time to buy…

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