Are the local foreclosure filings starting to rise?
The San Diego County foreclosure activity is meandering along with some recent pick-up – at least it’s not going down! Whether it’s by short sales or foreclosures, please end the free-rent program!
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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Encinitas, CA 92024 - (858) 997-3801 call or text
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CA DRE #01527365, CA DRE #00873197
Let’s narrow the focus further.
Results from 237 SFR trustee sales scheduled from October 1, 2011 to February 15, 2012 of properties in La Jolla, Del Mar, Rancho Santa Fe, Solana Beach, and Carmel Valley:
Cancelled: 100 (42%)
Postponed: 100 (42%)
Back-to-bene: 29 (12%)
3rd-party: 8 (3%)
The games continue.
The lenders/servicers have chosen to dispose of the defaulters by a different means – mostly by short sale.
Out of curiosity how many of the canceled/postponed foreclosure sales are being actively marketed as short sales?
For the ones that aren’t on the market as a short sale I wonder how the conversation goes. Banks: Hey we just canceled your foreclosure sale, we’ll give you $20K if you list your home as a short sale in the next 10 days.
The fed, regulators, banks, servicers, etc. etc. have done/are doing a masterful job of managing/manipulating the market.