The rate of foreclosures goes down
Now 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
“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).
Foreclosures 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
According 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
Foreclosures are low because of home price appreciation.
According to U-T San Diego, “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.”
Per DataQuick, within the month of February 2014, 141 properties were repossessed by banks in San Diego county — which is down from the 252 foreclosures a year ago. It’s also the lowest amount of February foreclosures since 2006 (when only 40 properties were repossessed by banks). Continue reading