San Diego Real Estate Blog

I have to admit the term “Exploding Arms” brings up an apocalyptic picture of loans blowing up and families running for cover. I also think the picture is quite accurate. I was reading an article in CNN Money titled “Foreclosures spike 112% - no end in sight” and the writer used the term “Exploding Arms” in the article. The article is what you might guess it was about from the title, foreclosures and how bad the foreclosure numbers are getting. The article stated that in 2008 there will be $362 billion worth of adjustable rate mortgages that will reset to much higher interest rates. The term “Exploding Arms” was used to describe the adjustable loans that I pictured sitting like time bombs just waiting to hit their reset date and BAM!!!!  BANG!!!!!! BOOM!!!!!!!!!!!!

It’s kind of like that if you’re the family loosing your home. No there’s no actual shrapnel or loud explosions or body parts flying around … It’s lives that are being torn apart… dreams that are coming to an end …… a slow painful dull sickening feeling in ones gut that has them shell shocked – dazed – confused. What to do from here? What about the kids, what school will they go to once we move? Where will we move? What do we do? I’m ashamed! What will my friends and family think of me? My pride has kept this a secret too long! Now what?

If you know someone who is having there home foreclosed on ask them if there’s anything you can do to help. Many families losing their homes need someone to talk to and usually that’s all. Maybe having them over for dinner or a BBQ and seeing if you can just be there to listen. People losing homes are your neighbors, your friends and your family. Most of them got caught up in the dream of home ownership and things went wrong fast. In the long term this will be a lesson learned and a builder of character and for many a strengthening of Faith. And the American Dream of Home Ownership will be alive and real again.

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Buy a San Diego Foreclsoure

All information is believed to be correct but not guaranteed.

A Foreclosure will negatively affect your credit and with the large amounts of foreclosures in today’s real estate market avoiding a foreclosure is on many homeowner’s minds. San Diego California has many foreclosures and will continue to see many more bank owned REO’s and foreclosures in the near future. Homeowners that are having trouble making house payments have several options and should always seek legal and tax advice from professionals in those fields. Some of the options if you’re unable to make your mortgage payment are to first call your bank. Consider a short sale or a deed in lieu before the bank foreclosures on your home.

A Short Sale is negotiating with the lien holder a payoff for less than what they are owed for a piece of real estate short of the full debt amount.

A Deed in Lieu is when the owner of a piece of real estate avoids foreclosure by voluntarily surrendering their property by deeding to the lender as satisfaction for the debt. A Deed in Lieu allows the lender to take possession sooner than would be possible through formal foreclosure.

A Foreclosure is when the owner’s right to the property is terminated, usually by default. The property is purchased back by the bank or public auction.

I read an interesting article from First American CREDCO that focused on the impact of a foreclosure on a FICO score. The article states that after collaborating with many various individuals and resources including the three major credit bureaus they have come up with the following information.

Short Sale will bring down your FICO score by 100 Points.

Foreclosure will bring down your FICO score by 280 Points.

The writers of the article I read made it clear that this information is not legal advice and that this information is not intended to be perceived as such. Other lenders I have personally spoken to and information I have read have concluded that a short sale is less destructive on a FICO score or credit report than a foreclosure.

If you are considering the option of a Short Sale in San Diego County please contact us. If you are considering buying or selling real estate in San Diego County we’re here to help. We can also help you buy a San Diego Foreclosure.

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All information is believed to be correct but not guaranteed.

In Carlsbad, Real Estate has not been immune to the housing crisis affecting virtually all of San Diego. Zip code 92011 in Carlsbad North County Coastal San Diego has taken a major dip in median home princes in early 2008. There were 44 homes that sold in January, February and March of 2008 with a median sold price of $742,500. This number is well off the 92011 Carlsbad median home price of $870,000 in 2007. In fact the early 2008 number is $127,500 less than the 2007 median home price. Out of the 44 Carlsbad homes sold the lowest was $360,000 on Bluewater Road was a bank owned foreclosure listed by Excel Properties. The highest priced sold Carlsbad home in 92011 was $1,800,000 on Aviara Drive listed by Prudential.

While doing this report in early May of 2008 there were 25 Carlsbad homes in escrow for Zip 92011. The median list price for those homes in Carlsbad in escrow was $825,000. While doing this Carlsbad Real Estate report there were 131 homes for sale in 92011 in the San Diego MLS. If you’re thinking about buying or selling a home or condo in Carlsbad make sure you call us to find out important information on the Carlsbad Real Estate Market.

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Carlsbad Homes

If you’re interested in Carlsbad Real Estate and North County Coastal San Diego Real Estate make sure you contact Dawn Sells San Diego.

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North County Coastal San Diego Real Estate

All information is believed to be correct but not guaranteed.

The Median home price in Carlsbad zip code 92010 for the first quarter of 2008 is $550,000 from the sold homes in SANDICOR. This is $110,000 lower than the peak Carlsbad 92010 median home price of $660,000 in 2005. It is $94,500 less than the median price of 2007 – last year. This drop in median home price is equal to some of the hardest hit areas of San Diego for losing home values. In the first quarter of 2008 which includes January, February, and March and there were 14 homes that sold in that 3 month period. The lowest priced sold home was $275,000 on Don Lorenzo Drive and was a 55+ mobile/manufactured housing. The highest priced sold home was $835,000 on Terrace Place in Calavera Hills.

The homes in escrow while doing this report in early May of 2008 show 14 homes in escrow. The median list price for homes in escrow is $575,000. With homes usually selling below list price in this real estate market these prices show the same low median mark. Some of these Carlsbad homes in escrow are bank foreclosures and short sales. Carlsbad homes currently on the market in the San Diego MLS show 58 homes for sale in the 92010 zip code in early May 2008. If you’re thinking about buying or selling a home or condo in Carlsbad make sure you call us to find out important information on the Carlsbad Real Estate Market.

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Carlsbad Homes

If you’re interested in Carlsbad Real Estate and North County Coastal San Diego Real Estate make sure you contact Dawn Sells San Diego.

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North County Coastal San Diego Real Estate

All information is believed to be correct but not guaranteed.

Homeowners in Carlsbad 92009 enjoyed a nice surge in 2007 median home prices. The median price of a home in Carlsbad in 2007 was $820,000 and in 2006 was $770,000 which was a nice jump of $50,000 in 1 year. Unfortunately this Carlsbad 92009 median home price gain has been reduced to below the 2006 median home price mark.  The median home price in Carlsbad 92009 for the first quarter of 2008 is $760,742 which is $59,258 lower than the 2007 median home price of last year. There were 49 homes that sold in the first 3 months of 2008 and the statistics were taken from SANDICOR. The lowest priced sold home in Carlsbad 92009 was $445,000 and was located on Paseo Del Vista and was a bank owned foreclosure in Carlsbad. The highest priced home sold was $2,495,000 and was located on El Fuerte Street in La Costa Estates.

While doing this report in early May there were 57 Carlsbad homes in escrow for zip code 92009. The median list price for these Carlsbad homes in escrow was $801,760 which is a good sign for this Carlsbad area. Of course the pending and sold comparables are two different things. In early May 2008 there were 228 Carlsbad homes for sale in the MLS in Zip Code 92009. This is a large amount of inventory and there are good prices for buyers. If you’re thinking about buying or selling a home or condo in Carlsbad make sure you call us to find out important information on the Carlsbad Real Estate Market.

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Carlsbad Homes

If you’re interested in Carlsbad Real Estate and North County Coastal San Diego Real Estate make sure you contact Dawn Sells San Diego.

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North County Coastal San Diego Real Estate

All information is believed to be correct but not guaranteed.

Homes in many areas of North County Coastal San Diego have enjoyed stable median home prices while some parts of San Diego County have felt the pain of the housing crises. Now you can add Carlsbad to the list of the communities in San Diego feeling the pain of dropping home values. The recent median home price in 92008 Carlsbad for the first quarter of 2008 shows a sharp dip and is more than $85,000 less than the 2007 median home price. WOW! This is bad news for North County Coastal San Diego homeowners. The 2007 median home price in Carlsbad 92008 was $735,000 and the median home price for Carlsbad 92008 for quarter 1 is $649,950. The first quarter of 2008 includes January, February and March and in that 3 month period there were 26 homes that closed escrow. The lowest priced home sold in 92008 Carlsbad was $420,000 and was located on Tyler Street in Carlsbad Village. The highest priced sold home was $2,395,000 and was located on Garfield in Old Carlsbad Village.

This report was created in early May of 2008 and at that time there were 27 Carlsbad homes in escrow in zip 92008. The median list price for the homes in escrow was $757,000 which is a good sign for the area. The 3 lowest priced homes in escrow are $344,900 located on Althea Lane and this is a foreclosure, $459,900 located on Alondra Way and is also a foreclosure, and $474,900 Located on Ann Drive which is, you guessed it, a foreclosure. Currently in early May 2008 there are 104 Carlsbad homes for sale in zip code 92008. If you’re thinking about buying or selling a home or condo in Carlsbad make sure you call us to find out important information on the Carlsbad Real Estate Market.

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Carlsbad Homes

If you’re interested in Carlsbad Real Estate and North County Coastal San Diego Real Estate make sure you contact Dawn Sells San Diego.

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North County Coastal San Diego Real Estate

All information is believed to be correct but not guaranteed.

2008 first quarter shows that homes in Carmel Valley had slightly dropped in median home price compared to the median home price in 2007. The 2007 median home price in Carmel Valley was $1,000,000 and in the first quarter of 2008 the median home price is $967,500 from the data taken from SANDICOR. This is a $32,500 drop in median home price for Carmel Valley in North County Coastal San Diego. This is a modest drop in price in comparison to other areas of San Diego County. There were a total of 66 homes that sold in January, February and March of 2008. From the 66 sold Carmel Valley homes the lowest priced sold home was $585,615 and was located on Carmel Springs Way in the Pines while the highest priced home was $3,500,000 located on Meadows Del Mar in Meadows Del Mar.

While doing this report in early May 2008 there were 52 Carmel Valley homes in escrow. The median list price of the 52 Carmel Valley homes in escrow is $964,950. The lowest priced home in escrow is $639,000 located on Carmel Cape in the Pines and the highest priced home in escrow is $2,750,000 located on Three Canyons Point in Del Mar Mesa. In early May 2008 there were 192 Carmel Valley Homes for sale in 92130. If you’re thinking about buying or selling a home or condo in Carmel Valley make sure you call us to find out important information on the Carmel Valley Real Estate Market.
 

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Carmel Valley Homes

If you’re interested in Carmel Valley Real Estate and North County Coastal San Diego Real Estate make sure you contact Dawn Sells San Diego.

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North County Coastal San Diego Real Estate

All information is believed to be correct but not guaranteed.

Homes in 91915 Chula Vista which includes parts of EastLake and Windingwalk dropped in median home price by $130,500 in the first quarter of 2008 compared to the 2007 median home price. The median home price for homes sold in 2008 in 91915 for the months of January, February and March was $437,000. The 2007 median home price in 91915 was $567,500. The foreclosures in Chula Vista have really dragged this area down in price and the inventory of foreclosures continues to rise. There were 57 homes that sold in the first 3 months of 2008 with the lowest priced sold home being $315,000 in La Vida “PUD Homes” in EastLake Greens and had 3 bedrooms and 3 bathrooms. The highest priced sold home was $912,500 on Falling Waters Court in EastLake Vistas and was 5 bedrooms and 4.5 bathrooms. 

In early May when this report was created there were 78 homes in escrow in 91915. The median list price for the homes in escrow is $419,425. The 3 lowest priced homes were $299,000 in La Vida in EastLake Greens, $300,000 on Rockhouse Trail Lane in EastLake Trails and $314,900 on Pacific Grove Loop in EastLake Greens. All three were short sales or bank foreclosures. There were 254 homes on the market in Chula Vista 91915 in early may of 2008. If you’re thinking about buying or selling in Chula Vista make sure you call us to find out important information on the Chula Vista Market.

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Chula Vista Homes

If you’re interested in Chula Vista Real Estate and South Bay San Diego Real Estate make sure you contact Dawn Sells San Diego.

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South Bay San Diego Real Estate

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Homes in Chula Vista 91914 took a big drop the first part of 2008. Statistics of sold homes from January thru the end of March in Chula Vista zip code 91914 show that 25 homes sold. The median sold price was $620,000 which is a sharp decline from the 2007 median home price of $724,750. This is over a $100,000 drop in median home price. Out of the 25 sold homes the lowest priced home was $467,650 and was a 3 bedroom 2 bath home on San Marino Place in Rolling Hills Ranch and the highest priced home was $837,000 and was a 5 bedroom 4.5 bath home on Winding Fence Way in Rolling Hills Ranch.

Currently, late April 2008, there are 58 homes in escrow and 163 homes for sale in Chula Vista 91914. Chula Vista 91914 includes Rolling Hills Ranch, EastLake Woods, EastLake Trails North and San Miguel Ranch. The median home price for homes in escrow is $657,550. If you’re thinking about buying or selling in Chula Vista make sure you call us to find out important information on the Chula Vista Market.

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Chula Vista Homes

If you’re interested in Chula Vista Real Estate and South Bay San Diego Real Estate make sure you contact Dawn Sells San Diego.

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South Bay San Diego Real Estate

All information is believed to be correct but not guaranteed.

Homes in Chula Vista 91913 have plunged deeper in the first quarter of 2008. SANDICOR stats show that the combined months of January, February and March of 2008 had only 63 homes close escrow in the 91913 zip code. The shocker is that the median home price in 91913 in the first quarter of 2008 was $437,500 which was $117,500 less than the 2007 median home price of $555,000 in Chula Vista 91913. From the 63 homes that sold in the 3 months of 2008 the lowest priced home was $335,000 on Laytonville Place and was a 3 bedroom 2.5 bathroom home. The highest priced sold home was $679,900 on Farmerville Street and had 5 bedrooms and 4 bathrooms. The new 2008 median home price is almost at the 2003 median home price in 91913 Chula Vista which was $420,500.

While doing this report in late April of 2008 there were 105 homes in escrow with a median list price of $452,500. The lowest priced home in escrow in 91913 was on Bridgeport Street and it was priced at $274,500 while the highest priced home was on Red Granite Road and it was priced from $750,000 to $1,000,000. While doing this report there were homes for sale in Chula Vista 91913. 91913 include Otay Ranch, EastLake, College Estates and some other older parts of Chula Vista. If you’re thinking about buying or selling in Chula Vista make sure you call us to find out important information on the Chula Vista Market.

San Diego MLS

Chula Vista Homes

If you’re interested in Chula Vista Real Estate and South Bay San Diego Real Estate make sure you contact Dawn Sells San Diego.

San Diego Real Estate        San Diego MLS        San Diego Real Estate Blog    

South Bay San Diego Real Estate

All information is believed to be correct but not guaranteed.