CHULA VISTA, CA BANK OWNED HOME: This bank owned home is located in Otay Ranch and is in excellent condition. The home was built in 2001 and is 3,465 square feet and has 5 bedrooms and 3.5 bathrooms. If you’re looking for a home with a bedroom and a full bathroom downstairs, look no further. This bank owned beauty boasts a large kitchen with a huge island for this holiday parties. There are 2 fireplaces one of them in the master bedroom. This is one of those bank owned homes that is move in ready and ready for your offer.
We have helped many buyers get into the home they are looking for in San Diego County. Many times we have Bank Owned Properties and Short Sales that need to sell fast. Make sure you let us know what type of home and in what location of San Diego you are looking at. We will keep you posted with any new homes or condos we have for sale.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we’re your San Diego Realtor.
The San Diego Real Estate Market has seen better days. It’s not that there aren’t buyers seeking that perfect place to call home sweet home it’s the little inventory they have to choose from. Inventory is low especially in some areas of San Diego County in the first time homebuyer price ranges. So low that many VA and FHA buyers are taking their chances on short sales, which may or may not ever close escrow, and waiting it out.
I can’t tell you how many questions I answer on Trulia about buyers and short sales. Buyers are always asking, what takes so long, how come the banks won’t approve my offer, what’s going on, why did they take another offer, why did the bank foreclose on the home when I had an offer on it for 8 months, why is the seller declaring bankruptcy, and on and on. It’s like writing an offer on a home and putting it into a black hole and hoping something good comes out on the other end. It usually doesn’t.
Keep in mind if you’re a buyer who wrote an offer on a short sale you probably are in competition with 5 to 50 other buyers. Only 1 of those offers will get accepted and many times the home will go to foreclosure and no one gets it. It’s frustrating for everyone involved including all agents, the negotiators at the banks, sellers and all the other buyers trying to buy the home. Just think how the seller feels….. they are losing their home, their dreams, their investment, they and their family – kids, dogs, cats now need to find another place to live, most likely a rental or in with family, and their life is being turned upside down. Kind of puts things in a different perspective when you look at it from the side of the one who is losing the home.
San Diego Home Buyers using a VA or FHA Loan to buy a home or condo are often in third and fourth place when writing offers on foreclosed properties. They have that going for them too. The problem is with so many investors in the market buying foreclosures for cash or large sums of money down in conventional loans the VA and FHA loans aren’t usually the best way to go for an asset manager looking at offers on the REO asset they are managing. On cash offers they don’t have to worry about appraisal issues or finding out a buyer really doesn’t qualify for the loan to buy the foreclosure. It’s an unfortunate situation that people who want to buy the home to live in and be part of the community are being put in the back seat to investors looking to make a buck. But it is what it is and for now it’s bad news for some VA and FHA buyers. Hang in there. Times will change.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we’re your San Diego Realtor.
Foreclosures of San Diego is your source for all foreclosures in San Diego. We have tools to search all homes and condos for sale whether they’re Bank Owned REO Foreclosures, Short Sales or just normal listings. You can Search the San Diego MLS or use our San Diego Foreclosure MLS to find Foreclosures, Pre-Foreclosures or Auction Properties. Did I mention these Search Tools are FREE.
Thousands of people use our search tools every week and find the home or condo they are looking for in San Diego County. We allow visitors to use our tools because we want them to have a portal to search for their home or condo in the comfort of their home or office. If you need help seeing the property or writing an offer on the property or just some real estate advice please contact us.
SAN DIEGO BANK OWNED FORECLOSURE – This REO property in Spring Valley California is a single story with 3 bedrooms and 2 bathrooms. Tax roll says 1,633 square feet with 2 car garage a big deck. New carpet and tile being installed and a fresh interior paint job. Panoramic view of mountains, hills and evening lights. Beautiful fireplace, walk-in basement, built in shelves and desk in one of the rooms, large kitchen with built in pantry and lots of storage.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we’re your San Diego Realtor.
The Five Star Default Servicing Conference and Expo officially kicks off September 20th, 2009 and runs through September 23rd. The event is being held at the Fort Worth Convention Center and Omni Hotel in Texas. Steve Forbes is the featured speaker at this huge event for the default servicing industry. The Five Star attendees have many opportunities to network with others in the industry and to sharpen their skills with the Five Star Academics and the Five Star Institute classes.
Many in the default servicing industry are preparing for the next wave or waves of foreclosures to hit the market. In many areas of the country like here in San Diego this will be a welcoming event. That’s right, welcoming. In many price ranges and in many areas of San Diego County California the inventory has had buyers looking at some pretty slim pickings. Many of the first time homebuyers trying to take advantage of the 8,000 first time home buyer tax credit are left in backup offer position to the cash offers. These first time home buyers also come in second place to offers with conventional loans with lots of buyer money in the deal. Some of the reasons for this are that the asset managers and banks like to accept the cash offers and large downs because they have less of a chance of falling out of escrow due to loans falling apart and appraisals not coming in at loan value. A symptom of the market.
Foreclosure moratoriums are being lifted in some areas of the country. California for instance has the California Mortgage Foreclosure Prevention Act that was signed by the Governor on February 20, 2009. The California Foreclosure Prevention Act modifies the foreclosure process to provide additional time for borrowers to work out loan modifications while providing an exemption for mortgage loan servicers that have implemented a comprehensive loan modification program. Civil Code Section 2923.52 requires an additional 90 day period beyond the period already provided before a Notice of Sale can be given in order to allow all parties to pursue a loan modification to prevent foreclosure of loans meeting certain criteria identified in that section. A mortgage loan servicer who has implemented a comprehensive loan modification program may file an application for exemption from the provisions of Civil Code Section 2923.52. Approval of this application provides the mortgage loan servicer an exemption from the additional 90-day period before filing the Notice of Sale when foreclosing on real property as designated by this Section. More on the Act.
This next wave of foreclosures as it’s called by many in the default servicing industry has been described by some in the know as a Tidal Wave or Tsunami. Many are wondering what effect it will have on the fragile real estate markets throughout the United States. I welcome the wave and the faster we get through this stagnant inventory the better off the whole real estate and economic environment will be. This elephant in the room, the massive foreclosures that are not being put on the market has to be dealt with. Let’s push through and push on and get through this and on to the next real estate market. I’ll take and sell as many assets as I can to help with the situation. So any asset managers or banks that need an REO Listing Agent in San Diego County California call me – Dawn Lewis 619-981-3917. I joined REOMasters Network to not only be associated with some of the best REO Agents and Brokers in the industry but to network with them to offer the best of solutions for asset managers and banks .
REOMasters is sponsoring the biggest Charity Event at the 2009 Five Star in Fort Worth. I was very surprised to see that it wasn’t on the Five Star Conference Schedule. The event is called Club Tsunami – The World’s Largest REO Networking Party and Charity Event. All of the profits from the proceeds of the Tsunami Party go to Foreclosure Angel Foundation. Make sure you read about the Foreclosure Angel Foundation and the difference they are making in the lives of families losing their homes. Your ticket purchase will have a direct impact on helping families stay in their homes. This event is sponsored by REO Masters and is a must make event. It will be a NIGHT TO REMEMBER. Make sure you put this event in your BlackBerry and DON’T MISS IT.
When: Monday, September 21st, 2009
Where: City Streets Night Club (22,000 sq/ft) 3 blocks from the Five Star Convention)
Who: This event is open to agents, brokers, lenders, asset managers and other attendees of the Five Star conference.
Time: 8:00 PM to 2:00 AM (All night Long!)
To GET TO THE PARTY take the Club Tsunami busses from the Fort Worth Convention Center, Main Street entrance. Busses will travel back and forth from 8:00 PM to 1:00 AM
Admission: $75.00 Advance Registration ($100.00 at the door)
Must bring ticket to event. No ticket. No entry.
REOMasters™ Network - Get Your Tickets by Calling
(866) 446-2977 x 202
California State Director for REOMasters Network - Dawn Lewis
I have been a licensed Realtor and REO agent in San Diego County California for over 20 years. I have personally sold well over 2,500 homes many of which were REO properties. I am a Top-Producer in San Diego County and have won multiple awards for Top Sales Agent in multiple categories for every company I have worked for. I’ve streamlined my REO business and created systems within my REO Team to be the most efficient possible. I’ve had 20 years to get it perfect. I am currently selling assets professionally for banks and asset managers and would like the opportunity to sell yours.
I have been a licensed agent in San Diego since 1989. If you’re looking for an experienced and professional agent to sell your assets look no further. My real estate and REO business is built from experience from the ground up. I’m not new to the business looking to cash-in. This has been, is, and will continue to be my career in any real estate market. I have handpicked my staff and we have been together for many years. Essential in any effective and professional team. My REO Team includes 8 Team Members that are dedicated to making sure assets are handled professionally and sold for top-dollar in a highly efficient manner. I have a proven track record of doing this for many years.
I also have powerful internet marketing tools which I exclusively own to market all of my REO listings. My internet presence is so powerful I usually have many buyers waiting to write offers on all of the assets I am assigned. We close the transactions fast and with little to no complications.
Please take a look at some of our web sites and blogs
REOMAC-Mortgage Default Industries Top Service
5 Star-Golden Member – Attended 5 Star for last 3 years
REOTrans Certified
ResNet Certified
REO Maestro
Default Schools Certified in REO Best Practices and Advanced Evaluations
Pacific Southwest Association of Realtor Ethics Committee member
San Diego and Chula Vista Chamber of Commerce member
Over 200 Hours of REO & BPO Education on file
Services Included:
Complete REO / Asset Management Services
BPO / Market Analysis
Broker Price Opinions with 24 Hours
Re-keying with 24 hours
Utility Services & Maintenance arranged within 24 hours
Bid Estimates within 3 business days
Eviction Coordination
Full Service Real Estate Brokerage
Marketing and Sale of REO Properties
Property Preservation and Cleanup Arrangements
24 Hour Occupancy Checks
Cash for Keys
Loss Mitigation
Assistance to Homeowners in Foreclosure
Field Inspector and Maintenance
BANK OWNED. This Real Estate is a perfect investment property in Imperial Beach in South Bay San Diego ready for an offer. You can walk or bike to the beach from this 3 bedroom home that is priced to sell. This San Diego REO has original open beam wood ceilings throughout and all the beach charm you would expect in an Imperial Beach home. This San Diego Foreclosure is close to schools and shopping and being sold as is.
Five Star Fort Worth Texas Club Tsunami REO Party and Charity Event
The next Five Star Default Servicing Conference and Expo will be held in Fort Worth, Texas at the Fort Worth Convention Center. The2009 Fort Worth 5 Star runs from September 19th to the 23rd. The Five Star is the largest conference in the default servicing industry and is the most well known networking opportunity for real estate agents, real estate brokers, attorneys, title companies, servicers, lenders, service providers, investors, vendors and asset managers. This networking event allows all parties in the REO field to meet and network in one location and share ideas on how to get through the many REO’s on the market and the wave of REO’s to come. It’s where all the parts of the puzzle briefly come together and put together a plan for what to do next. The most powerful people in the REO filed attend and share ideas to better serve everyone involved.
At this 2009 Five Star Event in Fort Worth there is a Tsunami Party and Charity Event hosted by REOMasters Network. REOMasters Network is raising heads in the REO Industry as the fastest growing REO Networking Group in the business.
The REOMasters™ Network is the nation’s newest marketing and business development association for REO Agents and Brokers who want it all. The REOMasters™ Network has partnered with the nation’s top REO coaches and industry leaders to engineer a life and business success REO coaching and marketing association … being built by agents, designed for agents, and owned by agents. Scott McLaine, Founder and CEO of REOMasters™ Network.
The Tsunami REO Party and Charity Event will be the “Biggest and Don’t Miss Event” of the Fort Worth Five Star. The event is on Monday Night September 21st at the City Street Night Club 3 blocks from the Five Star Convention. The Tsunami REO Party opens at 8:00 P.M. and ends at 2:00 A.M. complete with a red carpet walk into the 22,000 square foot mega club. Networking and dancing recommended and encouraged. Busses will take you from the Forth Worth Convention Center, Main Street entrance to Club Tsunami and back. Busses will travel back and forth from 8:00 P.M. to 1:00 A.M. Now you have the place and you have the ride “both ways” now grab a date or a partner or your whole team and get some tickets before they’re SOLD OUT. We want to see you on the Party Bus not the Baby Bus….. Remember it’s for charity too!
The party is happening at Club Tsunami all night long. Dress to impress and have a great time rocking the house! Enjoy great music from three different DJ’s, try your luck in the casino, check out our social scene, meet great people and network with other agents. This event will sell out. Space is strictly limited! 2 Drink Coupons before 9:30 P.M., Happy Hour Food before 9:30 P.M., Networking Mixer 8:30 to 9:30.
Tsunami Casino Night - Play the Craps Table, challenge the Blackjack Dealer, spin the Roulette wheel. Casino fun
all night long.
Two Night Club Dance Floors - Choose from two different theme rooms in order to dance the night away. Cages will feature the best of pop and top 40’s dance hits while Indigo will play the best of the 70’s, 80’s and 90’s.
Cigar and Scotch Lounge - Enjoy a fine glass of premium scotch and a quality cigar in the Tabu Lounge. Sip your drink,
make some new friends, network with old ones. Just sit back, relax and enjoy the evening.
Top Shelf Bar - Order your favorite drinks at the numerous bars throughout Club Tsunami or from any one of our many hostesses. Drink tickets provided at the door with admission.
Raffle Drawing - With every ticket you purchase you will be entered into our drawing to win one of many prizes that will help you to grow your business.
100% of ticket sales profits will benefit the Foreclosure Angel Foundation
What is the Foreclosure Angel Foundation – Excerpt from clubtsunami.net
We’re Fighting a Real Problem …That Needs Our Attention
The Foreclosure Angel Foundation was born when Marilyn Mock saw a need in November of 2008 to help her neighbor who was about to lose her home. With nowhere else to turn but the streets, their home went up on the auction block.
Marilyn bought the home at the auction price and sold it right back to the owners at the now lower cost. Marilyn had a keen sense that “It could be me in that situation.” One major life change could rip her family from their home too.
Ever the optimist, Marilyn thought that others in her community who saw this need would surely step up and help. She took desperate letters from families losing their homes to a function where her friends and acquaintances had expendable income. Marilyn was shocked when they didn’t even want to see the letter, much less offer any help.
At that point, Marilyn once again had another layer of her rose colored glasses ripped away, but this time she became determined. She believed that the American spirit of neighbors helping neighbors would win out.
If you’re going to the Five Star Fort Worth 2009 make sure you make this event. This will be the one everyone remembers and asks, “Were you there!”.
I Googled San Diego Real Estate this morning and saw the top rated spot was a news article from the Union Tribune, Real Estate Expert: San Diego at Leading Edge of Recovery. The Real Estate Expert they site in the article is Lawrence Yun the Chief Economist for the National Association of Realtors. Yun is known for making many blunders and erroneous predictions in the past. Check out http://www.lawrenceyunwatch.blogspot.com/ for some in depth research on Yun’s other predictions and faux pas. I’m a big fan of laying all the facts out on the table for anyone buying a home in San DiegoCounty. A prediction like this headline needs to have all the facts including the ones behind the scenes.
The article Real Estate Expert: San Diego at Leading Edge of Recovery bases the recovery on rising prices and sales. Yun states that there is only a 2.5 month inventory of homes for sale and new home construction sluggish. He said that the demand is strong. In an excerpt from the article Yun confesses: “He began with a confession about how he missed the real estate bubble of 2004-06. Surely, the system had enough checks and balances to avoid a runaway market, he thought at the time. “I was clearly wrong,” he said.” My concern now is what else is Yun overlooking through assuming that others have checks and balances in place.
In the UT Article, “He also predicted that foreclosures will continue at high levels for the next 12 months because of the weak economy. But unlike last year, he said this year’s foreclosures are being snapped up in many markets, including San Diego.” The market in many areas of San Diego is saturated with many short sales. Many of the short sales have homeowners in them not making mortgage payments and in the foreclosure process while trying to short sell their home. I think the foreclosures at high levels will carry on well past 12 months. Related Blog Post : http://www.responsiblelending.org/mortgage-lending/tools-resources/new-foreclosures-by-state-for.html
Many agents and asset managers speak of the tidal wave of foreclosures that are coming. I wonder why the banks are holding back all of the foreclosures that should be on the market. If the foreclosures are being held back and not put on the market for sale then there is a false sense of inventory. They are foreclosed on or will be soon but the homes are intentionally not being made available to home buyers. Why? Maybe this is to stabilize and firm up the market. But is this real or false stabilization?
The question is by doing this is it creating another problem of false values like the bubble we just came out of. I don’t know but the information needs to be out there for potential home buyers so they have all the facts when buying. Let’s face it, when NAR says something the news and the public listens. Let’s make sure they have all the facts not just the talking points for getting buyers to buy homes.
Is this last spike in sales and home prices in San Diego due to the mass of foreclosures being held off the market and only a trickling of foreclosures being released for sale? Is there a Great Wave of foreclosures coming? Just do a Google search for REO Tsunami and you will have plenty to read.
I think it is a great time to buy a home in many areas of San Diego County in certain price ranges. I think interest rates are low and the $8,000 tax credit is a helping hand for first time homebuyers. I also think that a home buyer needs to be aware that there are many more foreclosure due to hit the market and the word on the street is that the banks are holding back many foreclosures. If you are considering a home purchase in San Diego do your homework and gather all of the facts.
Otay Ranch Real Estate Market Report Summer 2009 – Otay Ranch 91913 and 91915 in Chula Vista like the rest of San Diego County is still valuing down. This report will combine zip codes 91913 and 91915 although the majority of Otay Ranch is 91913 areas like Windingwalk are 91915. 91915 also include parts of EastLake. The combined home sales for June 2009 for 91913 and 91915 are 99 homes. The median home price in June is $375,000 with a decrease from last year of 4% for 91913 and 11% for 91915. The combine condo sales for the two Chula Vista Zips are 45 condos. There was a decrease in condo values from last year of 24% in 91913 and 17% in 91915. The median condo price is $203,000. If you’re buying or selling in Otay Ranch or anywhere in Chula Vista call me, Dawn Lewis.
San Diego Real Estate Market Conditions – The San Diego MLS is filled with short sales and foreclosures and out of the two the short sales stay on the market a very long time making it look like the San Diego Market is saturated with homes for sale but the reality is there is very little to actually write offers on. The conventional listings as well as REO’s sell fast when in good condition and priced correctly. Multiple offers on many of the lower end price ranges of San Diego homes and condos.
Buyers are actually getting discouraged with the lack of inventory in the San Diego Market. I have personally seen over 50 offers on a single property for sale that was priced correctly. This is not uncommon. Also keep in mind if you’re a buyer that 49 out of the 50 offers won’t get accepted. This is causing many buyers to be disillusioned by the market and home buying and has them second guessing any agent that they hire. The upper end still has room to drop and should be looked at with caution. Use a good Realtor like me to help you with all of your Real Estate needs in San Diego.
June 2009 Sales and Median Prices
Central San Diego Existing Home Sales – 565 Median Price $365,000 Down in value -10% from last year. Existing Condo Sales – 475 Median Condo Price $263,000 Down in value -10% from last year.
East County Existing Home Sales – 340 Median Price $295,000 Down in value -15% from last year. Existing Condo Sales – 139 Median Condo Price $131,000 Down in value -22% from last year.
North County Inland Existing Home Sales – 629 Median Price $364,000 Down in value -13% from last year. Existing Condo Sales – 189 Median Condo Price $216,000 Down in value -15% from last year.
North County Coastal Existing Home Sales – 386 Median Price $455,000 Down in value -17% from last year. Existing Condo Sales – 128 Median Condo Price $323,000 Down in value -23% from last year.
South County Existing Home Sales – 376 Median Price $320,000 Down in value -15% from last year. Existing Condo Sales – 169 Median Condo Price $151,000 Down in value -28% from last year.
When you need help with San Diego Real Estate please call me and my team. I have over 20 years experience as a licensed agent in San Diego and have sold well over 2,500 homes. Put my experience to work for you.
If you need help buying or selling a home or condo in the San Diego area make sure you contact us we’re your San Diego Realtor.
Chula Vista Bank Owned Home
Dawn Lewis REO Masters Resume
