Dam of Foreclosures 2009 2010

By
Real Estate Agent with The Lewis Team at Keller Williams Cal BRE #01352522

Opening the Dam of San Diego Foreclosures 

There are many foreclosures because of the Foreclosure Moratorium that are waiting to be put on the market for sale by banks, asset managers and REO agents. The foreclosure moratorium here in San Diego County as well as most areas of the United States has kept homeowners in their homes through the 2008 holidays and then extended into 2009. Now that we're well into 2009 there are many wondering why hasn't the banks released the foreclosures. Many of them are vacant and the buyers are looking for new foreclosures to buy. In fact there are so many buyers here in San Diego they are starting to get discouraged in some San Diego markets and price ranges on the lack of inventory. There are also multiple offers on many homes sometimes exceeding 30 offers.

Some say the foreclosures are being held off the market because the banks are waiting to see if the Obama administration will subsidize the banks for their toxic assets. If that's the case one of two things will happen the government "our tax dollars and our kids and grandkids tax dollars" will bailout the banks once again and then the foreclosures will come onto the San Diego market or the administration wont bail them out and the foreclosures will come on the market. Either way if this is the hold up let's make a decision already because my buyers are getting real tired of waiting.

The word here in San Diego is that there are buyers galore and not enough homes for sale in some areas and some price ranges. Mostly first time home buyer price ranges. The inventory is filled with REO's that are heavily damaged and needing lots of work or short sales with many offers and slow moving negotiators at banks. I HOPE by summer the Obama administration will CHANGE what's going on.

Mike and Dawn Lewis - Realtors in San Diego CA - The Lewis Team at Keller Williams

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.

Search for Homes in these Communities

 
 
 
 
 
 

San Diego Real Estate        Carmel Valley Real Estate       Chula Vista Real Estate   

All Information is believed to be correct but not guaranteed 

Posted in BlogBlogrollBonitaCarlsbadCarmel MountainCentral Coastal,Clairemont MesaCollege GroveDowntownEast San DiegoEastLake GatesEl CajonEncinitasFallbrookJulianKensingtonLinda VistaMira MesaMission ValleyOcean BeachPoint LomaSan Diego ForeclosuresSan Diego Real Estate,San Diego Real Estate BlogSan Diego Real Estate NewsSan YsidroScripps RanchSolana BeachSunbowTierrasantaUniversity CityVistaWindingwalk

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California San Diego County Chula Vista
Groups:
San Diego Real Estate Q and A
Chula Vista Real Estate Q and A
anythinggoes
San Diego Foreclosures
Foreclosures
Tags:
foreclosures
san diego reos
san diego reo
san diego foreclosures
san diego bank owned

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
214,937

Mike and Dawn Lewis

The Lewis Team at Keller Williams in San Diego CA
Ask me a question
*
*
*
*
Spam prevention