San Diego has seen its share of foreclosures; in fact the whole state of California has been one of the hardest hit states in America. In many new home communities and subdivisions of the early to mid 2000’s foreclosures and short sales are the 2 main groups of available homes for sale in the San Diego MLS. Areas where most of the home loans were interest only stated income loans with Adjustable Rate Mortgages or ARM’s are falling victim to the economic crisis and unemployment epidemic.
I recently read an article on CNNMoney.com and they listed the top 5 foreclosure hot spots all out of the State of California. The top 5 foreclosure areas in the United States were; McAllen Texas, Burlington Vermont, Lincoln Nebraska, Gulfport-Biloxi Mississippi, and Sioux Falls South Dakota. With states like California, Michigan, Florida and Nevada usually at the top of the list we’re finally starting to see that all of America is on the chopping block. In big numbers too. I know Obama and the current administration want to keep every American in their homes but it’s not their call, it’s the facts of life and the facts of business that make it unrealistic. Just another false HOPE and broken promise or is pushing the 1.6 Trillion Health Care debacle through more important right now. I wish they would fix one thing before they break another.
McAllen, Texas – 1 in 251 homes are foreclosures up 1,197% Burlington, Vermont – 1 in 4,436 homes are foreclosures up 400% Lincoln, Nebraska – 1 in 2417 homes are foreclosures up 240% Gulfport-Biloxi, Mississippi – 1 in 492 homes are foreclosures up 140% Sioux Falls, South Dakota – 1 in 492 homes are foreclosures up 116%
There are always options to foreclosure such as loan modification, bankruptcy, and short selling your home. You should always consult an attorney to look at all of your options. If you need help with a short sale in San Diego make sure you give us a call for a free consultation.
I read a recent article titled: Realtors® Urge Congress to Act Now to Extend Homebuyer Tax Credit. In the article the National Association of Realtors included some facts about how many first time home buyers were helped into their new homes by the tax credit which will end on November 30, 2009. I know it's helped here in the San Diego Real Estate Market and many of our clients have taken advantage of the incentive.
Below is an excerpt from the article:
The National Association of Realtors® is calling upon its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year.
Since its inception earlier this year, the $8,000 first-time homebuyer tax credit has brought 1.2 million new buyers into the market-350,000 of whom would not have purchased a home without the credit, according to NAR. The credit is due to expire November 30.
"Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more homebuyers. We have all seen how the credit has been a spur to bring homebuyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again," said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.
Realtors®, the leading advocates for homeownership and housing issues, will be writing to their Senators and Representatives to tell them of the successes with the tax credit thus far and to press them to extend and expand it now.
San Diego REO - Dawn Lewis REO Listing Agent San Diego California
Excellent Opportunity to own a home in San Miguel Ranch. Chula Vista Bank Owned Foreclosure for sale. This newer 5 bedroom 3.5 bathroom home has over 3,300 square feet. This Chula Vista REO has it all including, Berber carpet, tile, huge kitchen with big island, stone counter tops, breakfast area, 2 fireplaces, lots of ironwork, huge master bedroom, bedroom and full bath on first level, big yard with custom BBQ area and covered seating area, and Coronado Island views. This Bank Owned Gem is located in 91914 Chula Vista in San Miguel Ranch.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
San Diego REO - Dawn Lewis REO Listing Agent San Diego California
Remodeled Bank Owned Foreclosure in San Diego County in 91977 Spring Valley. This 3 bedroom 2 bath home has new windows, new roof, new paint, new flooring, including carpet and tile, new lighting fixtures and more. The backyard has a big deck that is partially covered with some peek-a-boo lake and mountain views to the East. Come check out this bank owned home in San Diego and all of our bank owned properties today.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
Mt. Soledad Veterans Memorial is located in La Jolla in San Diego California. Mount Soledad is part of the Federal Government and the Department of Defense. Mount Soledad has some of the best views in San Diego County and has a panoramic 360 degree view of the San Diego Coast to the San Diego Mountains. The Mt. Soledad viewpoint is over 800 feet above sea level and if you are visiting San Diego or if you live in San Diego this is a must see.
The history of Mount Soledad began in 1914 when it became a Memorial Park. In the 1920's the Lindbergh boys used the mountain for glider flights. The Mt. Soledad Memorial is now managed by Commander, Navy Region Southwest located in San Diego, California.
Here are some videos of the Mount Soledad Veterans Memorial
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
CHULA VISTA, CA BANK OWNED HOME: This bank owned home is located in Otay Ranch and is in excellent condition. The home was built in 2001 and is 3,465 square feet and has 5 bedrooms and 3.5 bathrooms. If you're looking for a home with a bedroom and a full bathroom downstairs, look no further. This bank owned beauty boasts a large kitchen with a huge island for this holiday parties. There are 2 fireplaces one of them in the master bedroom. This is one of those bank owned homes that is move in ready and ready for your offer.
We have helped many buyers get into the home they are looking for in San Diego County. Many times we have Bank Owned Properties and Short Sales that need to sell fast. Make sure you let us know what type of home and in what location of San Diego you are looking at. We will keep you posted with any new homes or condos we have for sale.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
EL CAJON, CA - APPROVED SHORT SALE: 1 Bedroom 1 Bathroom. Great location for this San Diego Condo well below the $100k mark. Investors delight - these numbers could work out great for you. Get out your pencil and do the math. This Approved Short Sale is a corner upstairs unit and is completely upgraded. This condo in the well known Villa Grigio Complex has Berber carpets, tile, stainless steel appliances which include microwave and refrigerator, granite counter tops, and custom kitchen cabinets. The master bedroom is complete with ceiling fan and mirrored wardrobe doors. This great value condo in San Diego County had wood blinds, air conditioning and custom paint. At a price like this it doesn't have to be an REO to be a great deal. Get this one fast before someone sees the giveaway and takes it from you.
We have helped many buyers get into the home they are looking for in San Diego County. Many times we have Bank Owned Properties and Short Sales that need to sell fast. Make sure you let us know what type of home and in what location of San Diego you are looking at. We will keep you posted with any new homes or condos we have for sale.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
The San Diego Real Estate Market has seen better days. It's not that there aren't buyers seeking that perfect place to call home sweet home it's the little inventory they have to choose from. Inventory is low especially in some areas of San Diego County in the first time homebuyer price ranges. So low that many VA and FHA buyers are taking their chances on short sales, which may or may not ever close escrow, and waiting it out.
I can't tell you how many questions I answer on Trulia about buyers and short sales. Buyers are always asking, what takes so long, how come the banks won't approve my offer, what's going on, why did they take another offer, why did the bank foreclose on the home when I had an offer on it for 8 months, why is the seller declaring bankruptcy, and on and on. It's like writing an offer on a home and putting it into a black hole and hoping something good comes out on the other end. It usually doesn't.
Keep in mind if you're a buyer who wrote an offer on a short sale you probably are in competition with 5 to 50 other buyers. Only 1 of those offers will get accepted and many times the home will go to foreclosure and no one gets it. It's frustrating for everyone involved including all agents, the negotiators at the banks, sellers and all the other buyers trying to buy the home. Just think how the seller feels..... they are losing their home, their dreams, their investment, they and their family - kids, dogs, cats now need to find another place to live, most likely a rental or in with family, and their life is being turned upside down. Kind of puts things in a different perspective when you look at it from the side of the one who is losing the home.
San Diego Home Buyers using a VA or FHA Loan to buy a home or condo are often in third and fourth place when writing offers on foreclosed properties. They have that going for them too. The problem is with so many investors in the market buying foreclosures for cash or large sums of money down in conventional loans the VA and FHA loans aren't usually the best way to go for an asset manager looking at offers on the REO asset they are managing. On cash offers they don't have to worry about appraisal issues or finding out a buyer really doesn't qualify for the loan to buy the foreclosure. It's an unfortunate situation that people who want to buy the home to live in and be part of the community are being put in the back seat to investors looking to make a buck. But it is what it is and for now it's bad news for some VA and FHA buyers. Hang in there. Times will change.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
Foreclosures of San Diego is your source for all foreclosures in San Diego. We have tools to search all homes and condos for sale whether they're Bank Owned REO Foreclosures, Short Sales or just normal listings. You can Search the San Diego MLS or use our San Diego Foreclosure MLS to find Foreclosures, Pre-Foreclosures or Auction Properties. Did I mention these Search Tools are FREE.
Thousands of people use our search tools every week and find the home or condo they are looking for in San Diego County. We allow visitors to use our tools because we want them to have a portal to search for their home or condo in the comfort of their home or office. If you need help seeing the property or writing an offer on the property or just some real estate advice please contact us.
This year Art Walk on the Bay located in the Seaport Village area of Downtown San Diego was an incredible art event that all will remember. It was held on September 12 and 13 2009 at the Embarcadero Marina Park right next to Seaport Village. The event had many local artists featuring their paintings, photography, sculptures, glasswork, jewelry and many other arts and crafts. Local photographer Dennis Harris was on hand featuring some of his incredible photography.
Dennis Harris - Photographer
Some video of the 2009 ArtWalk event
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
are the 2 main groups of available homes for sale in the San Diego MLS. Areas where most of the home loans were interest only stated income loans with Adjustable Rate Mortgages or ARM’s are falling victim to the economic crisis and unemployment epidemic.
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