Getting the Foreclosure Elephant through the Snake

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

Getting the Foreclosure Elephant through the Snake

If the real estate market in San Diego is a long snake the foreclosures are like an elephant that the snake has eaten. Like anything a snake eats it will take time to pass through the length of the snake’s body. Eventually it will be digested and disposed of. In the mean time the snake has a huge blockage that has to work itself San Diego Foreclosuresthrough before it goes back to its normal appearance.

The San Diego Real Estate Market has swallowed an elephant and that elephant is the foreclosure market. This foreclosure elephant is slowly being digested by the real estate buyers in the San Diego Real Estate Market Snake. It will take some time to digest and property values in many areas of San Diego are still declining. Banks are loan modifying and taking short sale offers that are heading off foreclosures that will never even hit the San Diego Market. Banks are also starting to bulk sale REO’s so that investors can gobble them up and sell them at auctions or hang on to them as investments for a sale at a later date.

The snake is fat and the elephant has a long way to go to get to the end of the snake. Hopefully in 2009 and 2010 we’ll start seeing the leveling off of real estate values in San Diego County. There are some areas in some price ranges that are already leveling off. Unfortunately some of the higher end homes still have a sharp drop ahead.

Please use the links below to help you with your San Diego Real Estate Search and Information from your San Diego Realtor.

San Diego Real Estate              San Diego MLS 

San Diego Relocation                San Diego Home Search by Map

San Diego Home Buyers           San Diego Home Sellers

San Diego House Values           Local Real Estate Information

San Diego Real Estate Blog      San Diego Short Sales

San Diego Foreclosures            San Diego Green Homes

All information is believed to be correct but not guaranteed.

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Rainmaker
37,431
Cameron Bagherpour
Cary & Raleigh, NC - Cary, NC
Raleigh North Carolina

Good analogy.  I hope you don't mind my using it. . . :-)

Nov 10, 2008 05:16 AM #1
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Use away!

Nov 10, 2008 05:22 AM #2
Rainer
8,866
Stephen Butler
RE/MAX CENTRAL - Las Vegas - Las Vegas, NV

I suspect that here in Las Vegas, our snake is bigger than your snake. Or is it that our elephant is bigger?

Nov 10, 2008 05:22 AM #3
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Stephen,

A bigger elephant, and both are big - VERY BIG!

Mike

Nov 10, 2008 05:24 AM #4
Rainmaker
808,819
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Mike;

Great post and super information. Thank you for sharing.

Nov 10, 2008 05:25 AM #5
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Anthony,

Anytime.

Mike

Nov 10, 2008 05:26 AM #6
Anonymous
Stan

Great Analogy Mike!

Nov 21, 2008 08:31 AM #7
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Rainmaker
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Mike and Dawn Lewis

The Lewis Team at Keller Williams in San Diego CA
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