Foreclosures in San Diego

Marlo Barge — Thu, 11 Mar 2010 00:22:53 +0000

Foreclosures are different from your typical real estate transaction. San Diego is no different than any other big city, there are many foreclosures to choose from. After you have identified the neighborhood or condominium complex that is right for your lifestyle choice, prepare to work closely with your lender and a good real estate agent. Choose a real estate agent who is calm and has a good rapport with the listing agents out there who have cornered the bank owned market.
Your biggest concentration of studio foreclosures is in San Diego’s downtown; you will not be disappointed with the savings. Put on your patience hat, have the ink fully loaded in your fax and be available. In 2 months, you will have the steal of the decade, maybe the century. Thinking of 11th Street or Mentone, you will find views galore and granite countertops at suburbia prices. West Harbor Drive at $450,000 was unheard of, but is now within reach. There are many resources for finding these listings; simple searches on the internet will get you maps and lists but no details. I suggest checking in with a realtor working the location you plan to purchase in. Use that agent exclusively; they all have the same MLS. That agent can give you a list of the foreclosures fitting your precise needs. You can drive by those locations and see if the locale is the right fit, then give your agent the numbers of the one’s you want to see inside.

Short Sales in San Diego, CA

Marlo Barge — Thu, 11 Mar 2010 00:21:00 +0000

Whether you are thinking of Mount Hope, Stockton or Park West, San Diego can mean very different things to you. That should be your first effort, find the neighborhood that offers the lifestyle you need, urban, downtown or family oriented with a garage. There are more short sales than there are foreclosures now in all of our big cities around the US. Look for the term ‘pre-foreclosures’ since that is what a short sale is, another words the bank has not taken it away yet they are helping the seller get rid of that home.
For as little as $250,000 you can purchase a short sale in the middle of all that is great about San Diego and still be west of Escondido Highway near Imperial Avenue. If you are hoping for a condo steal, go for it! This is where you can benefit big time from the many investors who lost their shirts when the boom tanked. San Diego’s Gas Lamp District and Beech Street areas have many super deals under $300,000 for a 1 bedroom in the heart of the city. Many of the sellers have just received their Notice of Default and are entering the short sale market. Since they are going to see a 1099 for the amount their lender is willing to let go – don’t be shy on your offer price. If the lender can get 5% over what is owed, they will typically be able to afford your offer. Happy short sale hunting!

Marlo Barge's San Diego Real Estate Blog

Foreclosures in San Diego

Short Sales in San Diego, CA