Nick asked,
“Jim where can you find up to date info on trustee sale dates and houses involved for the San Diego Area?”
Foreclosureradar.com has been the most efficient website for us, because they keep it updated – changes are usually recorded the same day.
You can access our free version of it at the top-right corner of this blog, at “Foreclosures”.
If you want more specific data on each property, it’ll prompt you to send an inquiry, and we’ll ship you the full package. It’s done manually and I’ve gotten behind and missed a few in the past, but we’re on it now.
If you wanted to spend $50 per month, you can get full access by subscribing directly to foreclosureradar.com.
Here are the 469 SFRs on the auction list with a sale date coming up in the next 45 days between Carlsbad and La Jolla (link below).
North SD County Coastal SFR Auction List Dec 27th + 45 days
Cardiff = 21
Carlsbad = 204
Carmel Valley = 43
Del Mar = 14
Encinitas = 98
La Jolla = 53
RSF = 21
Solana Beach = 15
Even if you don’t want to buy all-cash at the court house steps, this list makes for a good reference point – if you are thinking of buying a specific property, you should search nearby streets for other looming foreclosures that are in the works.
Let’s also note that in the same area there are 3,785 SFRs that are on the NOD list too. It’ll be very interesting to see how many actually get foreclosed or cancelled in 2010!
Now if only we could have some way to find out all the people that aren’t paying their mortgage who haven’t gotten NODs.
Thanks Jim,
Seeing that the majority of the inventory out there is in the foreclosure process it seems almost more important for an agent to have access to these than the MLS listings.
I was comparing the foreclosureradar info with the Realist info from MLS on one of the properties (1043 Genie Lane)and there are definitely some differences. The Realist info is missing: (1) the new sale date in Feb (2)Est. Value (3) Est Equity
Also a kicker is that MLS has the property listed as contingent. “Need Short Sale – No Lender Knowledge, NOD Filed/Foreclosure Pending”
And another bonus line of “Loan Mod in progress” is in the listing.
What a messed up marketplace is all I have to say. It seems like the only straightforward way to buy and sell real estate these days is going to the courthouse steps.
Thanks again for the info Jim… foreclosureradar does seem to be the way to go.
is the “estimated bid” the amount that is owed? Because some lenders are reducing the bid far below what is owed, correct?
Yes, far below what’s owed. The house on Neptune owed $3.6 million (it’s published bid was $3,593,822), and opening bid was $1,642,500. It was purchased for $1,700,100, so there must have been at least two bidders on the court house steps with $1.642+ in cashier’s checks!!!