Discussion in 'Economics' started by traderdragon2, Jan 11, 2007.

  1. Bottomed a couple of years back after about 15 years of decline (which followed about 15 years of continuous rises).

    #21     Jan 12, 2007
  2. SD had the largest % increase of any city in Cal. It used to be quite affordable by Cal standards (rents still are). These #'s are great for me as I am moving there in about 4 months, and plan to rent for a year to test run the living experience, then buy in 2008. Should be about perfect!

    BTW, what website did you use to find that foreclosure info?

    #22     Jan 12, 2007
  3. balda


    #23     Jan 12, 2007
  4. Those numbers below are only for the 92130 area code.

    I gave 2 sets of numbers, one for 92130 and one for all of san diego.

    Look again.

    #24     Jan 12, 2007
  5. All I know is, any real estate market that has more foreclosures for sale than owner homes for sale is seriously screwed.

    I did a recent search and I cant believe how many homes are available now under 600,000.

    In another thread I showed how Zillow lagged the market horribly.

    Yesterday I looked at a desperate home seller that actually linked to his zillow stats.

    The zillow estimate was for 662K and he had his home on the market for 599K :D

    Nice 15% hair cut there :eek:

    San Diego is in a nose dive.
    #25     Jan 12, 2007
  6. #26     Jan 12, 2007
  7. Just checked the condo market here. Amazing. You can get a brand new 2 bedroom 2 bath condo for $259 now. Your mortgage payment would be about $1200/month. Thats cheap than RENTING.

    The fire sales are starting early in the condo market.
    #27     Jan 12, 2007
  8. Out of curiosity, if you lose your home to a foreclosure, does the bank sell it and keep any amount over the loan amount?

    For example, if you owe 500k on your loan, bank forecloses on you, and sells it for 600k. Do they keep the additional 100k or do they give it back to you?
    #28     Jan 12, 2007
  9. these numbers arent bad at all..

    look at the inventory statistics in San Diego.

    down 15% in one month, almost 30% in 6 months, looks to me like people are snapping up bargains left and right. not only that but also prices havent fallen, only down 3.5% last 9 months
    #29     Jan 12, 2007
  10. sharp10


    Technically if the bank sells the house for more you should get the balance...but I have heard that is not sometimes the case.
    #30     Jan 12, 2007