Gary Nessim's Carlsbad Real Estate Blog http://inside-real-estate.com/garynessim Buying a Home in Carlsbad CA| Carlsbad Real Estate Thu, 11 Mar 2010 00:17:19 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Foreclosures in Carlsbad, CA http://inside-real-estate.com/garynessim/2010/03/11/foreclosures-in-carlsbad-ca/ http://inside-real-estate.com/garynessim/2010/03/11/foreclosures-in-carlsbad-ca/#comments Thu, 11 Mar 2010 00:17:19 +0000 Gary Nessim http://inside-real-estate.com/garynessim/?p=13 Carlsbad, California is an affluent community located in Southern California.  Like many affluent communities located in that region of the country, Carlsbad has experienced drastically declining housing prices over the past few years.  After the housing bubble swelled, housing prices in Carlsbad peaked at an average of around $750,000 in early 2006.  Since then housing prices have fallen dramatically with median prices now around $550,000.  While prices have fallen dramatically over the past few years it does appear that they are beginning to stabilize.

Due to the decreased housing prices and overall tightened economy, many cities located in Southern California have been negatively hit by a large amount of foreclosure activity.  While Carlsbad is historically a very affluent community, they have also experienced a significant amount of foreclosures in the past few years.  The northern zip code in Carlsbad is 92008.  In the zip code of 92008 there are presently 30 foreclosure properties, which is equal to one in every 547.

The Southern zip code in Carlsbad has been hit by foreclosures much worse.  In zip code 92009 there are presently 55 foreclosures, which is equal to one in every 370 properties.  While these foreclosure rates are not as high as other areas of the country, the rate is still quite alarming.

While the foreclosure rate is quite high in Carlsbad, the current poor economy could be a good investment opportunity for those people with excess capital.  The average foreclosure sale in Carlsbad is much less than the average price which took place in 2005 and 2006.

]]> http://inside-real-estate.com/garynessim/2010/03/11/foreclosures-in-carlsbad-ca/feed/ 0 0800Foreclosures]]> Short Sales in Carlsbad, CA http://inside-real-estate.com/garynessim/2010/03/11/short-sales-in-carlsbad-ca/ http://inside-real-estate.com/garynessim/2010/03/11/short-sales-in-carlsbad-ca/#comments Thu, 11 Mar 2010 00:05:25 +0000 Gary Nessim http://inside-real-estate.com/garynessim/?p=10 Carlsbad is nestled between Oceanside, Escondido and Encinitas has a wide variety of short sales available. Since this rural beach community appeals to the resort dwellers, you will be surprised to find short sales under $100,000 unlike the higher prices in the big cities surrounding the smaller Route 5 towns.
There are more short sales than there are foreclosures now in all over the country and the roads less traveled offer better deals. Look for the term ‘pre-foreclosures’ since that is what a short sale is, another words the bank has not taken it and the seller may still live in the home. This means is it probably still well taken care of and has its appliances. Carlsbad, CA Ocean Hills or Buena Vista Lagoon areas are not as densely populated and have not seen growth affected by the boom. There will still be short sales available.
You may need to check the local newspapers for notices of auctions and defaults. Check with our local title company for a list of pre-foreclosures, they might hand them out to local agents. Then check with a local agent in your preferred neighborhood. If you are willing to exit the Carlsbad zipcode, dip into the Oceanside area a little then you will find 3 bedroom homes for under $20,000. Many of these may have not had a successful short sale run and were rented out versus occupied by an owner. So they may not be move in ready and require some fix up.

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