The Union Tribune San Diego had a great article on the state of San Diego county foreclosures–they’re currently at a 4-year low! Read the article below:
The number of San Diego County foreclosures in March stayed at its lowest point in more than four years, essentially mirroring the downward trend seen statewide, based on Tuesday’s DataQuick foreclosure report. An improving picture in the distressed market could be attributed to some pick-up in the national economy and increasing number of homeowners who short-sell their homes instead of letting them fall into foreclosure.
A little more than 500 homes fell into foreclosure last month, the lowest it’s been since November 2007, when the county recorded 478. The March total is 21 percent lower than the previous month’s and more than half of what it was a year ago.
Statewide, foreclosures in the first quarter of 2012 fell to their lowest level since the third quarter of 2007, when 24,209 trustee deeds were filed. They peaked at 79,511 in 2008’s third quarter.
Local and statewide numbers for default notices, the official start of the formal foreclosure process, were mixed in March, DataQuick numbers show.
San Diego County recorded 1,500, 17.4 percent bump from February but an 18.3 percent drop from a year ago.
The number of default…
Read the rest of this article by U~T San Diego’s Lily Leung here: “San Diego foreclosures remain at 4-year low“.