More Napa County homeowners fell behind in their mortgage payments and more local homes were lost to foreclosure in 2023 — the highest number since 2019. What happened?
The number of Napa County residents faced with losing their homes to foreclosure fell to record lows in 2020, according to Napa County assessor data.
Only eight homes were lost to foreclosure in 2020, compared to 23 in 2019 and 27 in 2018. To compare, at the height of the recession in 2008, 749 Napa County homes were lost to foreclosure.
Napa Valley real estate expert Logan Songer of Coldwell Banker Brokers of the Valley isnât surprised.
âThe housing market has been one of the silver linings of this pandemic,â he said.
There could be two factors at play, said Songer.
One, a statewide eviction and foreclosure moratorium meant to protect Californians impacted by COVID-19.
Thriving Communities and partner Healthy Buildings Cos. were the developers of the first-of-its-kind project in Napa.
Yet more than four years later, the project remains unfinished. Construction has stopped. Chain link fence surrounds the parcel located at 2614 First St. Lawsuits have been filed. Napa Creek Village is scheduled to be sold in a foreclosure auction at the end of January. The estimated sale price was $11.9 million.
In 2016, the Napa Valley Register reported that the project received unanimous approval from the Napa City Council and the Planning Commission.
At the time, the project was said to become the âgreenestâ multifamily project in the U.S.