Tag Archives: DataQuick

San Diego Real Estate in 2014 Ended Positively

2014 saw increases in both the number and the median price of homes sold

urban real estate prices, most live in suburbsFor the first time since September 2013, real estate in San Diego County had an uptick in both the amount of homes sold and the average price received for those homes.

At the end of the year, $440,000 was the median price for a house in San Diego county. A year ago in December, CoreLogic DataQuick had reported a median price 4.8 percent lower. And when compared to sales in December 2013, this December saw 191 more homes close escrows, at the amount of 3,290 transactions.

Compared to just the month before, December had an 23 percent increase in the quantity of transactions, over the 2,675 in November 2014.

Read more about CoreLogic DataQuick’s findings on the San Diego Union Tribune article here.

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

Buying or selling your home during the holidays

front door ChristmasBuying your home or selling it can be a huge project to tackle any time of the year, and adding that project to the busyness of the holiday season can make life even more hectic. But according to U-T San Diego, it just might be something you should contemplate doing. 

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San Diego foreclosures at 6-year low

San Diego County closed out 2012 with foreclosures at their lowest level in six years, says a report released Wednesday from local real estate information company DataQuick.

foreclosuresThe consistent drop in the number of people losing their homes to bank repossessions appears to be a product of an economy on the mend, increasing home values and government-led deals with major banks that promise borrowers alternatives to foreclosure, DataQuick officials said.

December foreclosures plummeted to 355, the lowest level since December 2006, when 288 were recorded. December’s total is nearly 18 percent lower than November’s and half of December 2011’s.

Default notices, the first official filing in the foreclosure process, totaled 878. That’s up 7.2 percent from November but down nearly 30 percent from the same month a year ago…

Read the rest of this article by U-T San Diego here: “San Diego foreclosures at 6-year low”.

Home prices rise across county

Double-digit annual increases in many markets

While foreclosures continue to fall, the sales pace for the real estate market as a whole continues to heat up, and with it come rising prices.

Total sales in December were up 9 percent as compared to a year ago, and up 9.5 percent from even a month before, according to figures released this week by the California Association of Realtors, a real estate industry trade group. The Association’s chief economist, Leslie Appleton-Young, attributes the volume spike to sellers of high-priced homes trying to close transactions before becoming subject to higher capital gains taxes in the new year (profits of more than $250,000 for individuals and $500,000 for couples on the sale of personal residences are taxed as capital gains).

The median-priced home selling in San Diego County last month was $418,290, up from $403,990 in November and $359,930 in December 2011, marking a full 16.2% spike in prices over the last year.

Market tracking firm DataQuick points to several markets that have done even better. Though they’ve only released numbers through November 2012 at present, areas with a significant number of sales that have experienced even stronger appreciation include Encinitas (18.1%), La Jolla (30.8%), Lemon Grove (23.3%), and Vista (20.7%).

An inventory shortage present in the market for some time has become more pronounced, as underwater homeowners (those owing more than their homes are worth) are able to negotiate loan modifications with their lenders, decide to hold off selling in the hope that rising prices will eventually allow them to avoid the credit hit of a foreclosure, or simply elect not to pay or sell (it takes over 300 days on average for a lender to foreclose)…

Read the rest of this article by the San Diego Reader here: “Home prices rise across county”.

Mortgage defaults in San Diego keep dipping

“Mortgage defaults in San Diego County continued to dip in November, helping the local market maintain a more than six-year low and keeping at bay the theory of another foreclosure surge, figures say. Foreclosures also fell last month.

The county racked up 819 notices of default last month, an almost 15 percent drop from October and a 50 percent drop from the same month a year ago, says a Tuesday report from local real estate tracker DataQuick.

Notices of default mark the first official step in the foreclosure process but not all of such cases necessarily result in foreclosures. Homeowners can avert foreclosure through a number of means, including getting a loan modification or completing a short sale, a deal in which they sell their homes for less than what they owe as long as the lender gives an OK.

November’s default tally is the lowest for the county since August 2006, when 794 defaults were recorded. They peaked at 3,832 in March 2009…”

Read the rest of SignonSanDiego.com’s article here: “Mortgage defaults in San Diego keep dipping”

San Diego home sales best in 7 years

“SD home sales best in 7 years

November’s median was $358,000, up 13.7% from year ago

San Diego County housing prices rose 13.7 percent over the last year to $358,000 as sales soared to their best November in seven years, DataQuick reported Wednesday.

It was the highest overall price since July 2008 as the market was skidding down and close to the $357,000 posted in March 2003 as prices were rocketing up…

…Sales for November totaled 3,371, down 6.9 percent from October, a typical seasonal dropoff. But that was 22.4 percent higher than a year ago and the highest for any November since the local market peaked in November 2005. At that time, there were 4,232 sales and prices stood at an all-time median high of $517,500.

In brief, overall prices were 30.8 percent off the November 2005 peak but have risen 27.9 percent since the January 2009 low of $280,000.

For 19 southwestern Riverside County neighborhoods near the San Diego County line, the overall median stood at $243,000, up 3.6 percent from October and 10.5 percent from November 2011. The sales count was 1,139, up 12.7 percent from year-ago levels.

DataQuick attributed the increases in prices and sales to a greater demand for higher-priced homes and reduction in low-cost foreclosure properties…”

Read this article by the San Diego Union Tribune in full here: SD home sales best in 7 years”.

Foreclosure registry measure passes in San Diego

Banks will now have to register San Diego city homes in the foreclosure process into a tracking database starting early next year.

The new requirement, approved by the City Council on Tuesday on a 5-3 vote, is meant to help city code enforcement officers track and address potential problem properties, which could trigger crime, safety issues and drops in property values. Council members Kevin Faulconer, Carl DeMaio and Lorie Zapf opposed the measure.

Under the new ordinance, lenders will have to provide accurate information of the responsible contacts of such homes upon the filing of a notice of default, which is the first formal step in the foreclosure process. Similar ordinances exist in 70-plus other California cities, based on council documents.

“We could get another wave of foreclosures and defaults,” said Councilman David Alvarez, who was the key council supporter of this ordinance. “This will prepare us for the next wave.”

Center on Policy Initiatives and Alliance of Californians for Community Empowerment were the main drivers of the ordinance.

Banks will have to pay a $76 fee for each property within 10 days of the notice of default filing. If lenders fail to do this, they will face a fine of $100 a day, capped at $5,000 a year.

San Diego County has suffered through more than 65,000 foreclosures since 2007, mainly the result of reckless lending practices…

Read the rest of this article by U~T San Diego here: “Foreclosure registry measure passes in San Diego”.