Four Seasons Realty: January 2010

San Diego California Daily Foreclosure Auction Results - Bank Owned Homes for Sale

This is your resource for daily numbers from the Downtown San Diego Foreclosure Auction.   We want to bring you a brief summary daily of the results at the auction for Downtown San Diego which handles sales throughout the entire county.

The foreclosure auction sales are open to the public on a daily basis and they usually start at 10am every weekday, excluding holidays and are held at 220 West Broadway, San Diego, Ca.  There is also an auction held in El Cajon daily, but these numbers are from the Downtown Auction.   I attend these auctions on a regular basis and would be happy to provide you additional insight into buying properties at them, just contact me direct.   To track upcoming homes going up for sale at the auctions click here.

 

Here is an overview of the days numbers for Thursday January 21st, 2010.

Total Properties up for Sale      Cancelled     Postponed        Sold to 3rd Party      Back to Bank

    426                                         50                 348                  11                              17

 

Percentage sold to 3rd party: 3%

Percentage going back to lenders: 4%

Percentage Postponed: 82%

 

You will obviously notice from these numbers that the majority are being postponed or cancelled until some date in the future.    You will also notice of the 18 sold, 12 of them went back to the bank.   These homes will now become bank owned homes or (REO) inventory.   The bank usually will then evict the current owner or tenant and then put the properties up for sale with a local Real Estate company.   To search current Bank Owned Homes for sale in San Diego County click here.

Of the properties that sold to 3rd party investors here is what we find:

 

Sold to 3rd party (Sales Price)        Amount that was owed to lender(s)     Salesprice/LoanAmount

$187,000                                              $362,021                                                          52%

$337,500                                              $402,206                                                          82%

$272,210                                              $355,132                                                          77%

$310,200                                              $558,324                                                          56%

$381,100                                              $469,402                                                          81%

$176,500                                              $375,934                                                          47%

$244,000                                              $450,377                                                          54%

$216,200                                              $383,784                                                          56%

$232,200                                              $442,351                                                          52%

$125,000                                              $228,093                                                          55%

 

As you can see from above, of the properties the banks took to auction and sold to 3rd party investors, they are taking a pretty large discount from what they are owed.   However, as we can see from the numbers, the majority are still being delayed until some date in the future.   Banks will delay properties for multiple reasons as many times they are working something out with the current owner, entertaining short sale offers, or just delaying it for their own internal reasons.   However, you can clearly see the bottleneck of properties that are being delayed.   Many times we find that the properties that go back to the lenders become great investment opportunities as well for a myriad of reasons.   To find out more about and search bank owned homes for sale click here.

As I mentioned above, we attend the foreclosure auctions on a weekly basis.  If you have questions about them, please feel free to call or email and I will give you an overview of how the process works to find out if its right for you.   There can be great benefits of buying at these auctions, but it's not right for everyone.  Sometimes a Bank Owned Home, a Resale, or Short sale can be a better fit for you and still a great buy!

From our website you can search all Pre-Foreclosure, Short sale, Foreclosure, Resale, and Bank Owned Listings for free!   You can also sign up for our Property Watch Service which will automatically keep you updated of any new listings that fit your guidelines 24 hours a day!   All this is free to you, all we ask is the opportunity to be of service to you or someone you know in the future!  

       

I look forward to hearing from you soon!

View Results from 1/20/2010

Carlsbad California Daily Foreclosure Auction Results - Bank Owned Homes for Sale

This is your resource for daily numbers from the Downtown San Diego Foreclosure Auction and Carlsbad California.   We want to bring you a brief summary daily of the results at the auction for Downtown San Diego which handles sales throughout the entire county.

The foreclosure auction sales are open to the public on a daily basis and they usually start at 10am every weekday, excluding holidays and are held at 220 West Broadway, San Diego, Ca.  There is also an auction held in El Cajon daily, but these numbers are from the Downtown Auction.   I attend these auctions on a regular basis and would be happy to provide you additional insight into buying properties at them, just contact me direct.   To track upcoming homes going up for sale at the auctions click here.

Here is an overview of the days numbers for January 21'st, 2010.

Carlsbad, California saw limited activity for the day with only 9 properties going up for sale.   Out of the 9 that were scheduled, 2 of them were cancelled, while the other 7 were delayed a month.

San Diego County as a whole saw the following results for the day.

Total Properties up for Sale           Cancelled             Postponed        Sold to 3rd Party      Back to Bank

            180                                          25                        137                         6                                  12

 

Percentage sold to 3rd party: 3%

Percentage going back to lenders: 7%

Percentage Postponed: 76%

 

You will obviously notice from these numbers that the majority are being postponed or cancelled until some date in the future.    You will also notice of the 18 sold, 12 of them went back to the bank.   These homes will now become bank owned homes or (REO) inventory.   The bank usually will then evict the current owner or tenant and then put the properties up for sale with a local Real Estate company.   To search current Bank Owned Homes for sale in Carlsbad or other San Diego County cities click here.

Of the properties that sold to 3rd party investors here is what we find:

Sold to 3rd party (Sales Price)            Amount that was owed to lender(s)             Sales price/LoanAmount

$259,000                                              $398,283                                                          65%

$303,400                                              $597,174                                                          51%

$315,000                                              $534,092                                                          59%

$468,200                                              $692,896                                                          68%

$340,812                                              $527,300                                                          65%

$187,100                                              $515,359                                                          36%

 

As you can see from above, of the properties the banks took to auction and sold to 3rd party investors, they are taking a pretty large discount from what they are owed.   However, as we can see from the numbers, the majority are still being delayed until some date in the future.   Banks will delay properties for multiple reasons as many times they are working something out with the current owner, entertaining short sale offers, or just delaying it for their own internal reasons.   However, you can clearly see the bottleneck of properties that are being delayed.   Many times we find that the properties that go back to the lenders become great investment opportunities as well for a myriad of reasons.   To find out more about bank owned homes for sale in Carlsbad click here.

As I mentioned above, we attend the foreclosure auctions on a weekly basis.  If you have questions about them, please feel free to call or email and I will give you an overview of how the process works to find out if its right for you.   There can be great benefits of buying at these auctions, but it's not right for everyone.  Sometimes a Bank Owned Home, a Resale, or Short sale can be a better fit for you and still a great buy!   To view all properties for sale in Carlsbad click here.

From our website you can search all Pre-Foreclosure, Short sale, Foreclosure, Resale, and Bank Owned Listings for free!   You can also sign up for our Property Watch Service which will automatically keep you updated of any new listings that fit your guidelines 24 hours a day!   All this is free to you, all we ask is the opportunity to be of service to you or someone you know in the future!  

       

I look forward to hearing from you soon!

 

San Diego California Daily Foreclosure Auction Results - Bank Owned Homes for Sale

This is your resource for daily numbers from the Downtown San Diego Foreclosure Auction.   We want to bring you a brief summary daily of the results at the auction for Downtown San Diego which handles sales throughout the entire county.

The foreclosure auction sales are open to the public on a daily basis and they usually start at 10am every weekday, excluding holidays and are held at 220 West Broadway, San Diego, Ca.  There is also an auction held in El Cajon daily, but these numbers are from the Downtown Auction.   I attend these auctions on a regular basis and would be happy to provide you additional insight into buying properties at them, just contact me direct.   To track upcoming homes going up for sale at the auctions click here.

 

Here is an overview of the days numbers for January 20th, 2010.

Total Properties up for Sale           Cancelled             Postponed        Sold to 3rd Party      Back to Bank

            180                                          25                        137                         6                                  12

 

Percentage sold to 3rd party: 3%

Percentage going back to lenders: 7%

Percentage Postponed: 76%

 

You will obviously notice from these numbers that the majority are being postponed or cancelled until some date in the future.    You will also notice of the 18 sold, 12 of them went back to the bank.   These homes will now become bank owned homes or (REO) inventory.   The bank usually will then evict the current owner or tenant and then put the properties up for sale with a local Real Estate company.   To search current Bank Owned Homes for sale in San Diego County click here.

Of the properties that sold to 3rd party investors here is what we find:

 

Sold to 3rd party (Sales Price)            Amount that was owed to lender(s)             Sales price/LoanAmount

$259,000                                              $398,283                                                          65%

$303,400                                              $597,174                                                          51%

$315,000                                              $534,092                                                          59%

$468,200                                              $692,896                                                          68%

$340,812                                              $527,300                                                          65%

$187,100                                              $515,359                                                          36%

 

As you can see from above, of the properties the banks took to auction and sold to 3rd party investors, they are taking a pretty large discount from what they are owed.   However, as we can see from the numbers, the majority are still being delayed until some date in the future.   Banks will delay properties for multiple reasons as many times they are working something out with the current owner, entertaining short sale offers, or just delaying it for their own internal reasons.   However, you can clearly see the bottleneck of properties that are being delayed.   Many times we find that the properties that go back to the lenders become great investment opportunities as well for a myriad of reasons.   To find out more about and search bank owned homes for sale click here.

As I mentioned above, we attend the foreclosure auctions on a weekly basis.  If you have questions about them, please feel free to call or email and I will give you an overview of how the process works to find out if its right for you.   There can be great benefits of buying at these auctions, but it's not right for everyone.  Sometimes a Bank Owned Home, a Resale, or Short sale can be a better fit for you and still a great buy!

From our website you can search all Pre-Foreclosure, Short sale, Foreclosure, Resale, and Bank Owned Listings for free!   You can also sign up for our Property Watch Service which will automatically keep you updated of any new listings that fit your guidelines 24 hours a day!   All this is free to you, all we ask is the opportunity to be of service to you or someone you know in the future!  

       

I look forward to hearing from you soon!

 

 

San Diego California see's large declines in foreclosures at the auctions and overall activity.

January 20th, 2010.

Real Estate Silver lining or still too early to tell? Lets look at the numbers of the recent activity to see...

December 2009 Foreclosure, REO, and Short Sale update.

According to Foreclosure Radar (A service which tracks every single foreclosure daily in the state of California) in the month of December Foreclosure notices in the state of California saw a large decline.  Notices of Defaults dropped 17.5 percent from the prior month.   However, these numbers are still much higher than the same period of December, 2008, but still the numbers seem to be trending in the right direction.

Sales to third party investors at San Diego auctions were 237 properties, which was down from 332 in November .  According to estimates foreclosure sales sold to third party investors at an average of a 18.6% discount from estimated market value.    This is definitely a declining margin from previous months as banks are coming in higher on their opening bids which is causing a good number of the properties to go back to the banks with no bids from investors.

We have also noticed the banks are not cutting their opening bids to discounted levels as often as they had in the past.

Although it's too early to tell if this will be a trend its important information to consider and keep an eye on.

Some important bullet points to consider:

• Notice of defaults still remain at close to record highs, however the trend is moving the right way.  To search Pre-Foreclosure Properties in San Diego California and other San Diego county cities click here.

 

• Nearly 90 percent of the foreclosed loans for the month of December were originated between January of 2005 and December of 2007.

 

• Lenders took back roughly 814 foreclosures in San Diego County in December in which no third party bid was received.  These properties become REO inventory (Real Estate Owned), and then are usually listed with Real Estate agents or sold at third party auctions.  To search current REO inventory in San Diego California and other San Diego county cities click here.

 

• The percentage of total properties sold at foreclosure auction still remains pretty low compared to the overall amount of homes for sale going through the auction at only 19% with 81% going back to the lender.

 

• San Diego county for the month of December saw Notice of Defaults at 1,938, Notice of Truste Sales (Auctions) at 2,008, and Sales at auction of 237.   To search Pre-foreclosures, Foreclosures, and property which went back to the lenders in La Jolla California and other San Diego cities click here.

 So what does this all mean?  There are still many foreclosures coming down the pipe and foreclosure activity is still at close to record levels.  However, sales volumes are now starting to turn around.  Many first time and value buyers are now stepping back into the market.  The many incentives such as the $8,000 tax credit, low interest rates and decade low prices (for many areas) are making this a great time to purchase for many people.  To learn more about properties for sale in San Diego California and other San Diego cities click here.

 

Click the yellow map below to view Homes for Sale, Pre-Foreclosures, Foreclosures, Auctions, REO, Short Sale, and the entire San Diego County MLS.

At Four Seasons Realty, we track most every Foreclosure in San Diego County and attend the auctions on a weekly basis. We also come across many off market opportunities as well.  To learn more about foreclosures in San Diego, please visit our fully integrated Real Estate Website at www.fourseasrealty.com,  where you can search all active pre-foreclosures, foreclosures, auction, short Sale, and REO listings along with the entire San Diego county MLS.

You can also sign up for our free Property watch service which will automatically keep you updated of any new listings that fit your guidelines or any price changes!

We Look Forward to Hearing From you!

 

We wanted to bring you a video we have done of some of the top reasons to visit or live in San Diego. San Diego is a top destination spot for Americans and people around the world. It has long held the knick name of "America's finest City". Does this knick name really hold its weight?

Well let's look at just some of the things San Diego has to offer.

* Weather: It would be hard to talk about San Diego without mentioning the weather, it's absolutely one of the best climates in the country by far. With an average year round temperature of 71 degrees! By the way, we filmed everything for this video in the middle of January, you will notice many people in shorts and tee-shirts. How is it where you are? Check the weather by clicking here.

* Beaches and Coastline: San Diego California offers so many great beaches and coastline. Whether you are visiting with your family and want a laid back beach, or you are looking for more of the single scene, San Diego definitely has a beach for you! To learn more about the beaches in San Diego click here. *

Entertainment and Nightlife: With over 100 restaurants in Downtown San Diego alone to choose from, you are sure to find something that fits your appetite and budget here! The downtown nightlife scene offers fine dining, entertainment, live music, and night clubs. To learn more about the nightlife in San Diego, click here.

* Off Leash Dog Beaches and Walking Trails: San Diego offers many beaches, dog parks, and trails for your animals. There is nothing more fun for dog lovers than to let your dog off the leash to run and play. San Diego understands this concept well and has many parks to choose from. To find out about off leash beaches and trails click here.

* Amusement Parks: San Diego is known worldwide for its Zoo. Offering one of the best displays of animals from around the world. San Diego also has Sea World and the Wild Animal Park. These amusement parks bring hundreds of thousands of visitors per year, and it only takes visiting them once to understand why people keep coming back year after year!

* Marine Life: San Diego has some amazing Marine Life. You can Kayak through the kelp beds of La Jolla Cove, float next to the Sea Lions, or take off on a Whale and Dolphin Watching adventure! To learn more about the Marine Life in San Diego click here.

*Golf: San Diego has World Class golf courses all around the county. Two of the best known are Torrey Pines (where the Buick Open and the US Open was recently played), the other is La Costa where the Match Play championships have been held on a regular basis in the past. Whatever your budget, San Diego is sure to have a course for you!

* Real Estate: San Diego is home to some of the nicest Real Estate in the county. Whether you are looking for a beach front home or a first time home, San Diego has something for you. To learn more about Real Estate in San Diego and to search available homes click here.

These are just a few of the many reasons to visit or live in San Diego! So the only question is... When can you come out?