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Signs of Less Foreclosures on the Downtown San Diego Real Estate Market

By Mike in Downtown San Diego Real Estate|Downtown San Diego Real Estate Market Analysis|September 2012 with 0 Comments

Signs of Less Foreclosures in the Downtown San Diego Real Estate MarketThe real estate market nationwide including the Downtown San Diego Real Estate market has in the month of August shown a drastic reduction of foreclosure starts. According to The Orange County Register and the article “Report: CA. foreclosure starts drop by half” a 49 percent reduction has been reported if you compare the month of August 2012 to 2011.

More than 83,500 homes including Downtown San Diego Condos and Downtown San Diego Lofts in California had been scheduled to start the foreclosure process in August but more than 75 percent of these have been postponed and 13 percent has been cancelled. Many of these have also gone back to the bank and some sold to investors.

Lenders were back in 2008 foreclosing on about 28,000 homes per month. In 2012, an average of 5,500 homes is sold each month. ')}