Foreclosures in the NSD County Coastal SFR area have been fairly steady the last two years.
There was a 43% YOY-increase in homes foreclosed who had loan amounts over $1,000,000 – we’ll probably see that continue, figuring that those with bigger payments are more likely to bail.
But in 2010 there were 879 houses that closed over $1,000,000 on the MLS (an increase of 18% YOY), at an average of $483/sf (a decrease 13% YOY), so softer prices are fixing things:
|Loan Amounts||NODs||NOTs||F/C 2010||F/C 2009||Totals|
Many of the NODs/NOTs are waiting in the loan-mod/short-sale pipeline, so 2011 should be similar – that we’ll see around 30 houses per month get foreclosed in the La Jolla-to-Carlsbad region.