Let's review some of the foreclosure theories of today's world. BUNK #1 - Banks are holding back properties. In San Diego's North County Coastal region, there aren't many REOs not on the open market. The video tours you've seen over the last few days covers almost...
You'll hear in this tour of Carlsbad REOs that banks are dropping the opening bids at the trustee sales to at, or below, market prices, and they are still going back to bene(ficiary). In the video I lay out the game plan for buying direct at the trustee sales, which...
Here are more from the shadow tour, two REOs in Rancho Santa Fe plus one in Encinitas on Ocean View, next door to the REO that just listed for $1,299,000, and closed for $1,325,000. Both sold originally for $2,300,000: Carlsbad has a lengthy tour coming up next.
About a month ago (June 14th) we featured a video of REOs not on the open market yet: http://www.youtube.com/watch?v=sEb3TtG7DDs They had been foreclosed earlier in the year, and that tour revealed a few reasons why they had not hit the market yet - still occupied,...
Here's the youtube video on the Fallbrook REO. Turns out that this house has been vacant for months, which happens more often than I would expect - not everyone is working the free-rent program. List price is undetermined at this point, but it'll need to be sharp,...
A couple more REO listings came my way from Bank of America. They sent me a new 4,000sf one-story house on 4 acres in a gated community in Pala, whose zip code was marked incorrectly, it was listed as Oceanside's 92054, when it was really 92059. The builder had it...
Still looking for signs of the foreclosure tsunami beginning - now that the MLS requires that REOs be marked clearly, it'll be easier to track. Here are the number of new detached REO listings, per week in San Diego County: Recent Week New REOs # Already Marked...
Remember this one, on the outskirts of North Vista? 2115 Vista Grande, Vista 92084 3 br/2.5 ba 1,996 sf 0.67-acre SP: $725,000 6/05 (90% financed) TS: $233,750 3/09 (back to bene WFB) LP: $99,900 5/09 SP: $240,000 7/09 cash They disclosed a bunch of...
This feels like a trip down memory lane - a new offering near the back gate in Oceanside:
from sddt.com: Foreclosures in San Diego County reached their highest monthly totals since September 2008, while notices of default spiked after two months of decline. June’s 3,715 notices of default were the second highest total for a single month on record. The...
