Category Archives: Foreclosure

Money Monday: Leasing your home

The new American dream: Leasing your house

Source: The Orange County Register

In Southern California, detached, single-family rentals increased 29 percent over the last decade — vs. a 13 percent increase in apartment units, according to the most recent U.S. Census data.

Making sense of the story:

• The tally jumped to 736,400 rental houses in 2016, equal to one out of every four houses in the region. The increase matches trends elsewhere.

• California had a 27 percent gain to 1.8 million rental houses in the most recent decade. Across the nation, detached, single-family rentals jumped 30 percent to 12.5 million in 2016.

• Renters are moving into houses for space, for schools or for privacy, a recent survey by U.C.
Berkeley’s Terner Center for Housing Innovation found. Landlords, on the other hand, range
from small investors to gigantic hedge funds but also include retirees hanging onto their old
houses because they’re in high demand.

• The change could be contributing to a nationwide shortage of homes for sale. It also has
numerous implications for family wealth and for policymakers, since there now are 7 million
more renters in American than a decade ago, and nearly 414,000 more in Southern California.

• The Terner Center study found that while 80 percent of single-family tenants want to buy a home in the next five years, more than 90 percent have financial obstacles to buying.

• Nearly 27 percent of single-family renters who had been homeowners had lost a home to foreclosure. Other factors include student and consumer debt, difficulties in qualifying for a mortgage, or not being able to save for a down payment.

Read the full story: www.ocregister.com/2018/06/29/the-new-american-dream-leasing-your-house

San Diego County Foreclosures Down in 2014

Good news on the foreclosure rate front for San Diego County!

housing market forecastHere are the details on foreclosures in San Diego County this past year, based on a San Diego Union-Tribune article Continue reading

Lowest Amount of Foreclosures Since the Great Recession

The rate of foreclosures goes down

foreclosureNow at the lowest point since the Great Recession, foreclosures in the San Diego County region were only at 121 properties last month (September 2014) Continue reading

Distressed Borrowers Have Waiting Periods Reduced

Fannie Mae released a report this month, informing that there are simplified waiting periods for those distressed borrowers that have a prior derogatory credit event in their past, such as a: foreclosure, bankruptcy, preforeclosure sale (short sale), or deed-in-lieu of foreclosure.Fannie Mae waiting periods Continue reading

Boomerang Buyers are Predicted to Make 10% of 2014 Purchases

understanding foreclosuresThose former homeowners who lost their home due to a foreclosure or a short sale a few years ago are now beginning to buy once more.

“Boomerang buyers who lost a home to a foreclosure or short sale between 2007 and 2013 are projected to make about 10 percent of all U.S. home purchases in 2014, according to John Burns Real Estate Consulting (JBREC)…According to JBREC, the number of boomerang buyers will increase in 2015 and 2016 as more former owners become eligible for new loans.” (“After losing their homes in the foreclosure crisis, boomerang buyers are back“, The Washington Post).

Continue reading

San Diego County’s Foreclosures Still Low

foreclosuresDuring the month of July, both foreclosures and default notices in San Diego County remained low.

According to CoreLogic DataQuick, 139 properties were repossessed in the county in July, which is down from the 153 a year ago. And 446 default notices were filed in July; fewer than the 516 in July 2013. Continue reading

San Diego Foreclosures Declined in May

foreclosureForeclosures are on their way down in San Diego County, as of last reports from DataQuick. Both default notices and foreclosures have continued to decrease in May according to the real estate tracker DataQuick. Continue reading

Foreclosures down from last year

real estate marketAccording to DataQuick, in the San Diego Union Tribune’s article “Foreclosures stay low in San Diego”, foreclosures are down a significant amount from this time last year Continue reading