Those keen on investing in California property may be able to find plenty more opportunities to secure foreclosed bargains, new figures have suggested.

Data from research firm RealtyTrac has revealed that the trends for house prices to fall and large numbers of homes to be repossessed are continuing, with over 274,000 properties being either seized or having notices served on them in January.

Among the states with the highest rates of foreclosures, California came second only to Nevada, with one in 173 homes being lost this way.

Such circumstances can lead to many foreclosed properties being available at cheap prices as the banks look to cover their losses.

Earlier this month, research by Zillow showed that over half the property sales in the Central Valley in the state during the second half of 2008 were of foreclosed homes, the highest rate in the whole country.

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