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Mozart commented this morning:

“Like it or not, things are getting better. Home prices and incomes are balanced. Things are still tough but stability is great news. Extremely well qualified buyers are now the norm.”

“We’ll piddle along for the rest of the year. Substantial price gains are a ways out but this grind along the bottom is over.”

Demand has been steady enough that sales of bank-owned properties have been strong – additional REO listings should be welcomed by antsy buyers in all areas, unless supply overwhelms demand.

Buyers waiting for foreclosures can check this comparison for their specific area. The bolded areas below have had a significant increase in NODs and NOTSs over six months ago.

Here are the foreclosure counts from November 13th, and today:

Town or Area Zip Code Nov. NOD/NOTS/REO May NOD/NOTS/REO diff
Cardiff 92007 16/8/14 25/11/6 +4
Carlsbad NW 92008 30/23/27 55/22/13 +10
Carlsbad SE 92009 71/44/63 168/22/29 +41
Carlsbad NE 92010 33/13/29 51/28/7 +11
Carlsbad SW 92011 27/23/20 41/32/17 +20
Del Mar 92014 15/8/12 21/6/4 -4
Encinitas 92024 73/35/33 118/48/28 +53
La Jolla 92037 49/36/28 95/53/14 +49
Oceanside all 659/326/980 852/539/295 -279
Poway 92064 70/34/74 109/70/26 +27
RSF 92067 10/4/6 20/6/1 +7
San Marcos N 92069 152/93/184 232/137/68 +7
San Marcos S 92078 122/71/135 188/107/45 +109
Solana Bch 92075 14/6/16 37/15/5 +21
Vista all 340/189/410 486/308/146 +1
Sorrento 92121 3/0/4 10/3/2 +8
West RB 92127 90/46/58 152/78/24 +60
Rancho Pen 92129 68/29/69 140/80/27 +81
Carmel Valley 92130 39/20/30 93/63/15 +82
Total above 1,931/1,044/2,220 2,893/1,008/772 -552

I didn’t bold Carmel Valley (and other areas) because I thought there are probably enough buyers to sop up the coming REOs there.  In the bolded areas I’m not so sure.

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