Friday, June 20th, 2008 at 12:59 PM
SD Foreclosures By Zip
Where are the foreclosures in North County? This summary came directly from the county records via title company, not from some wimpy, half-baked MLS – so its accuracy should be better:
2008 SD Foreclosures by Zip Code – SFRs Only (through May 15th):
Area or Town   
Zip Code   
Totals 
Del Mar
92014
1
SolanaBch
92075
2
Bonsall
92003
4
Cardiff
92007
4
CarmelVly
92130
4
La Jolla
92037
4
Clsbd NW
92008
5
Clsbd NE
92010
5
RSF
92067
5
Clsbd SW
92011
6
Encinitas
92024
14
RB
92128
16
RP
92129
18
ScrippsRch
92131
18
Clsbd SE
92009
19
4S/Sluz
92127
23
Escndo SW
92029
24
Vista S
92081
28
Poway
92064
31
O-side N
92058
40
O-side W
92054
43
SanMrcs S
92078
47
Mira Mesa
92126
56
Escndo SE
92025
62
Ramona
92065
62
DT condos
92101
65
Vista Mid
92083
67
Vista N
92084
68
Fallbrook
92028
74
SanMrcs N
92069
75
O-side S
92056
91
Escndo E
92027
137
O-side E
92057
168
Total
No Cty
1,268
The combined total of the last six areas is higher than the the cumulative of the other 27 zips (680 vs. 671). If you laid the subprime map over this, it would probaby coincide pretty well.
Posted on Friday, June 20th, 2008 at 12:59 PM in Foreclosures | 10 Comments » | 
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I posted this comment late yesterday regarding the high-end real estate hurting. It’s an excerpt from an article by Alan Nevin in the San Diego Metropolitan. Seems relevant to today’s blog entry:
"In San Diego County, for instance, two-thirds of all of the homes foreclosed and resold in the first quarter of 2008 were in 20 of the 90 communities in the county. Thus, 700 of the 1,100 foreclosed single-family home sales were in those 20 communities, all inland. In 20 of the 90 communities, there were no foreclosure sales. As you might expect, most of those “0” foreclosure sales were in communities near the coast. Of those low foreclosure communities, most were in the highly ranked school districts.
The 10 communities with the highest rates of foreclosure sales had single-family homes averaging $394,000. The 10 with the lowest foreclosure sales had sale prices averaging $1.6 million."
These high-end purchases typically would require a jumbo loan but these are also not first time home buyers. Most buyers are bringing equity into the purchase.
Time will tell. Here’s the link for the full article: http://www.sandiegometro.com/2008/jun/property.php
Mozart | June 20th, 2008 at 2:45 pmEncinitas is about to fall apart…immune my ass
SurferNate | June 20th, 2008 at 3:35 pm"If you laid the subprime map over this, it would probaby coincide pretty well."
I wonder if the same would be true of a map of new home construction during this period. Are there any statistics available comparing the number of subprime-financed new home sales vs the number of subprime-financed resales and refi’s?
GeneK | June 20th, 2008 at 4:24 pmIt would be fascinating to see accurate ratios of foreclosures to total residences to see if there any surprises at the higher end.
GLG | June 20th, 2008 at 4:30 pmSo all these actually just went through the Trustee sale, but may or may not be listed yet?
Simone | June 20th, 2008 at 8:20 pmJim,
Here’s a question. I am renter & have never owned. My husband and I have saved ~$225k for a downpayment and have good jobs. We rent an apt in Carmel Valley and want to buy in Carlsbad or Encinitas. We’re thinking a SFR $500-600k range with a yard on the east side of the I-5.
Personally, I think it is still a horrible time to buy, but my husband is desperate to own a house. He wants to buy right away and it has been a point of contention in our relationship for a while now.
In your expert opinion, (if I relent and agree to buy a house soon) do you think that it would be wiser to buy the house we want to raise a family in? Or (if I relent and agree to buy a house soon) should we buy a smaller, crappier house than we want and temporarily live in it, then rent it out as soon as another house comes along that we want to raise a family in at a better 2010 price?
GARBLER | June 20th, 2008 at 9:51 pmJim,
Here’s a question. I am renter & have never owned. My husband and I have saved ~$225k for a downpayment and have good jobs. We rent an apt in Carmel Valley and want to buy in Carlsbad or Encinitas. We’re thinking a SFR $500-600k range with a yard on the east side of the I-5.
Personally, I think it is still a horrible time to buy, but my husband is desperate to own a house. He wants to buy right away and it has been a point of contention in our relationship for a while now.
In your expert opinion, (if I relent and agree to buy a house soon) do you think that it would be wiser to buy the house we want to raise a family in? Or (if I relent and agree to buy a house soon) should we buy a smaller, crappier house than we want and temporarily live in it, then rent it out as soon as another house comes along that we want to raise a family in at a better 2010 price?
GARBLER | June 20th, 2008 at 9:51 pmsorry for the double post. I’d value your opinion. I love this blog!
GARBLER | June 20th, 2008 at 9:53 pmThese high-end purchases typically would require a jumbo loan but these are also not first time home buyers. Most buyers are bringing equity into the purchase.
—————–
And therein lies the coming glitch in the higher-end areas, IMHO. As prices in the starter/first-stage move-up neighborhoods drops by 35-50%, where is all this "brought equity" supposed to come from. The pyramid is fed from the bottom.
CA renter | June 21st, 2008 at 10:18 amGreat idea to post foreclosures by zipcode. It looks like there are quite a few around town. I’ve been doing some research on local and national foreclosures numbers. The Dallas Fort Worth area seems to be increasing in the past few months. Great info, thanks for posting!
Kenneth Cox – Dallas Broker
Kenneth | June 21st, 2008 at 3:13 pm