San Diego Homes For Sale
Welcome to California Lending & Realty, your online source for San Diego homes for sale. Information and services about buying and or selling San Diego real estate can be found here. Whether it’s finding your dream home, or maximizing a gain from a sale, California Lending & Realty is here to help you fulfill all of your real estate needs. Our diverse group of experienced agents cover all of San Diego County. All agents are licensed with the California Department of Real Estate, as well as members of the San Diego Association of Realtors. From the beautiful sandy beaches to the rugged back country of East County, let us work for you ensuring that the transaction runs smoothly and your interests are preserved. If you are interested in buying and/or selling property in San Diego County …Please contact us today for a free consultation. Take a look at our featured homes offered.
San Diego Short Sale
San Diego County has been inundated with people who cannot afford their mortgage payments, cannot refinance because their home value has dropped, and think that foreclosure is the only option. Foreclosure is not your only option. We’ve helped a number of San Diegans just like you. Discuss your situation with a Certified Distressed Property Expert (CDPE) and Short Sale & Foreclosure Resource (SFR) certified by the National Association of Realtors. Please click on the Short Sale tab to learn more.
Real Estate Market Update
Foreclosures continue to drop in county
Large gains in annual home price appreciation have continued to help keep the number of foreclosures in San Diego County at pre-Great Recession levels.
In February, banks repossessed 141 properties in the county, a slight decline from January and down 44 percent from the 252 foreclosures in February 2013, real estate tracker DataQuick reported Tuesday.
Last month’s number of foreclosures was also the lowest for a February since 2006, when 40 properties were taken back by banks during the housing bubble that led to the recession. It was also a major improvement from the 1,316 foreclosures in the county in February 2008, during the middle of the economic downturn.
“The whole thing with foreclosures is that they occur when there’s no equity,” said Mark Goldman, a loan officer and real estate lecturer at San Diego State University. “They’re most likely to occur when people are upside down” on their mortgages.
Many people no longer face such a situation because their home values recovered enough in 2013. In June, year-over-year median price gains peaked at 24.1 percent. Appreciation has since slowed, but in February, median values were still up annually by 14.2 percent — to $416,000.
That has given people a key option in case they lose their jobs, can’t make mortgage payments and receive a notice of default, which triggers the 90-day foreclosure process.
“They can sell” the home, Goldman said. “They might even get some cash from the sale.”
Default notices also fell in February to 442, down from 551 a year earlier and the lowest for a February since 290 were filed in 2005. For a February, default notices peaked at 3,471 in 2009.
U-T San Diego
Please feel free to call Michael Thomas (Broker of Record) directly at 619-286-9400 if you have any questions regarding your real estate needs.