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.

The San Diego real estate see saw

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.

There are also many books on Amazon that address these issues:

How not to present or market a home on the MLS !!
Did they send a rookie who didn’t care a hoot to take these photos?
Even if the property is a foreclosed home in San Diego ….
… WHAT WERE THEY THINKING???
 
 
 

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Posted on December 22, 2008 | No Comments

Foreclosure Rental Evictions Stopped by Fannie Mae …

When foreclosure in San Diego affects a rental home, it’s not only the owner’s of the home that are affected. Often the tenants have no idea that the home is being foreclosed on. Previously common practice was to evict the renters without a second thought!
Seems a bit unfair right? [...]

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Posted on December 18, 2008 | No Comments

The City of San Diego has been granted $9.5 million in Federal funds to help aquire foreclosed homes in the City.
This initiative will assist approx 130 families (story in SignonSanDiego here) - think this is a good idea?
Not according to Bob Kavane, incoming 2009 Treasurer of SDAR (San Diego Assoc of Realtors).
I listened to his [...]

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Posted on December 16, 2008 | No Comments

Federal Reserve Chairman Ben Bernanke’s “Wish List to Santa” 
Recently, Ben Bernanke announced some very aggressive steps he believes are needed in attempt to resuscitate the distressed mortgage and housing industries.
 
Below is a quick run down of what he “wishes” for this year.

More principal write-downs by lenders
Reduce interest rates for the Hope for Homeowners program, currently [...]

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Posted on December 11, 2008 | No Comments

We have just added a nice clean San Diego County Foreclosure search to the site.
Click over and take a look - we think you will agree that it’s easy to navigate.  We have added some short cuts to make it even easier to drill down to find available foreclosures:
Escondido Foreclosures
Oceanside REO’s
San Marcos Foreclosures
Will add more [...]

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Posted on December 3, 2008 | No Comments

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