Bringing you news and advice on todays changing San Diego foreclosure market.
Quick question: Was it easy borrowing, lenders lax or nearly non-existant criterior, borrowers greed or the sub prime crisis that were the main factor in the current state of affairs?
I believe it was a combination of all of these factors that led to todays San Diego housing market.
The final straw came in August 2007 when lenders dramatically tightened their lending criterior (gosh - buyers actually have to qualify?) precluding possibly as many as 50% of San Diego buyers at that time.
Take that many potential buyers out of the picture in one foul swoop and no wonder San Diego home prices have fallen so dramatically.
It’s the outlying areas of San Diego County that has been suffering the most with prices falling as much as 40 to 50% (San Marcos, Chula Vista, Oceanside as examples).
Property values along the central coast have been holding up albeit with reduced sale volume. Difficult to predict the bottom of this cycle some pundits are suggesting early next year.
On this blog we offer San Diego foreclosure advice you can use - check out these resourses for more ...
If you think you might be
upside down on your mortgage (you owe more than the home is worth) ...
... you might like to start off learning more about San Diego short sales here:
What is a short sale? ...
... or you may need to discover
what happens during the foreclosure process in San Diego after an owner falls behind on their mortgage payments.
If you currently rent, San Diego foreclosures can affect you too, many landlords are facing foreclosure and this
may affect your lease.
Perhaps you are thinking of buying a San Diego home in todays market, or maybe purchasing investment property - our
Buying a short sale and
Buying a Foreclosure pages go over the pro and cons of when to make that purchase and other relevant topics.
Reports detailing market activity and San Diego price trends are also available for every zip code in San Diego County with
charts and data you can use.
Finally our experienced real estate team is
here to assist you with timely answers to all your questions -
feel free to get in touch.