Archive for the 'Area Statistics' Category
3rd Quarter Statistics for San Diego Real Estate - Get the Facts
Posted by Diane White | Leave A Comment »
What happened in the San Diego housing market in the 3rd quarter? Most areas saw prices declining because the lower priced homes are the ones selling the most…which has brought down the average sales price. The fact is that most short sales and foreclosures have occurred in the lower price ranges and investors and first time home buyers are taking advantage of it,
This market may dry up sooner then we expected due to lenders being encouraged to modify their loans. Countrywide where one out of four loans were serviced, is being required to do so and they have up to 125,000 loans in California alone.
The number of home sales in San Diego County in the 3rd quarter were pretty steady. Total sales including Resale Detached and Resale Attached Homes were:
September 3,090 August 2,801 July 3,083
Here are the full reports compiled by Data Quick for San Diego County:
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San Diego Foreclosures Filings Down? - Get The Facts
Posted by Diane White | Leave A Comment »
According to an article posted by Inman News recently, RealtyTrac said that foreclosure filings were down 12 percent nationwide in September.
California, which accounts for nearly one-third of foreclosure activity, recently passed legislation that requires lenders to contact their borrowers 30 days before filing a notice of default. This could explain why such a dramatic 51 percent drop in notices last month.
The article further goes on to state that this may only delay the process and may not alleviate the continuing influx of foreclosures.
Read the entire article: Foreclosure filings down 12% in September
The County of San Diego Assessor/Recorder’s Office also states the decline could be due to the requirements of the new legislation.
This became effective September 6, 2008. Read their letter here:.
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The Assessor/Recorder’s office also states that over 50 percent of the homes that are served a default notice do go back to the bank. A hefty 56.23% of the 27,990 Notices of Default filed through the month of August, or 15,740 went into foreclosure. Click the image to read the full report.
Some other interesting notes:
- Trustee’s Deeds (Foreclosures) recorded thru September were 15,740
- Total Deeds recorded were 88,437
- That means only 17.80% of home sales this year were bank owned/foreclosure sales!!
There will undoubtedly by more sales of homes that were foreclosed on, and 17.8% is a still a high number, but the facts are here in the report. This dispels the myth that over 50% of the homes sold in San Diego are foreclosures…doesn’t it?
If you would like me to research particular areas, please contact me at Diane@DianeWhiteSanDiego.com or simply leave a comment to this post.
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Related Posts: Area Information, Area Statistics, Buyers, Financial news, Foreclosures, Market Trends, Real Estate News, San Diego
San Diego Homes Under $200,000? - Get the Facts
Posted by Diane White | Currently 1 Comment »
Are there really homes in San Diego for under $200,000? Yes there are…over 2,700 of them! And they are located throughout the county.
In fact there are a number of “affordable” homes that under $300,000 (5,800) and an additional 4,400 between $300,000 and $500,000. Listed below are the number of homes available (single family residences detached and attached homes only) in different price ranges as of Friday, 10/24/2008.
Below $200,000
San Diego County: 2,709 Listings
562—Metro Area
226—North County Coastal
603—North County Inland/No East
536—East County
Below $300,000 ($200,000-$299,000)
San Diego County: 3,095 Listings
625—Metro Area
322—North County Coastal
821—North County Inland/No East
453—East County
Below $400,000 ($300,000-$399,000)
480—Metro Area
326—North County Coastal
761—North County Inland/No East
490—East County
Below $500,000 ($400,000-$499,000)
298—Metro Area
229—North County Coastal
555—North County Inland/No East
201—East County
Below$600,000 ($500,000-$599,000)
San Diego County: 1,189 Listings
225—Metro Area
224—North County Coastal
402—North County Inland/No East
115—East County
It may be the perfect time to get into your first home or to buy that investment propety you have always talked about doing. Because of the foreclosures and short sales, prices are down and interest rates are very low.
Contact me for more detailed information on a particular area in San Diego County.
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Short Sales in San Diego County - Get the Facts
Posted by Diane White | Currently 1 Comment »
What are short sales? What is happening with the short sale market? Are they selling? Where are they? Here is the Statistics Report for the activity in the last 90 days on all homes, except for manufactured, in San Diego County. Statistics supplied courtesy of Sandicor.
San Diego County Short Sales
To summarize:
- There are currently 6,445 Active Listings. This is a little misleading because most short sales are kept in the active status, even after the seller has accepted an offer, until there is an formal acceptance by the lender(s).
- There are currently 1,778 short sales in the pending status, which means in escrow.
- There have been 4,109 that have closed escrow in the last 90 days.
What are they? Short sales are homes that are for sale and the seller’s loan(s) are more than what the property can sell for. They put it on the market in the hopes that the bank will take less than what they owe. This used to be a process that could take up to 6 months before the lender assigned a negotiator and many went into foreclosure before they ever had a chance to get it approved.
Most banks now have systems in place and as the report shows, they are closing successfully. In fact, most of the time there are multiple offers…you will note that the sales price to listing price is now 97% and average days on the market are down to 99.
Where are they? I did a search for some regions and note the following:
North County Coastal = Carmel Valley, Del Mar, Solana Beach, Encinitas, Carlsbad & Oceanside
- 738 Actives 200 Pending 186 Solds
North County Inland= Scripps Ranch, Rancho Bernardo/Penasquitos, Mira Mesa, Poway & Ramona
- 537 Actives 205 Pending 185 Solds
Metro Areas = Downtown, Hillcrest, North Park, Mission Valley, Clairemont, Tierrasanta & University City
- 1,096 Actives 329 Pending 283 Solds
South Bay = Bonita, Chula Vista & National City
- 1,727 Actives 339 Pending 159 Solds - by far the highest area
If you have stayed away from short sales, you might want to reconsider…many are selling before they become foreclosed on.
Click here to read my previous blog posts and let me know if there is something in particular you would like me to research.
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Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Downtown, Encinitas, Financial news, Foreclosures, La Costa, Leucadia, Market Trends, Oceanside, Rancho Bernardo, Real Estate News, San Diego, Short Sales, Solana Beach
