Foreclosures / Bank Owned Real Estate
San Diego was one of the first major markets to feel the effects of the rapidly deflating housing bubble. We began to see the market soften and turn down as early as 2007 as foreclosures and short sales increased and became common. While foreclosures and short sales in and of themselves can be bad, the silver lining is that it has created a great opportunity for buyers, investors allows sellers to get back on their feet. Fannie Mae HomePath and FreddieMac HomeSteps are great programs for anyone looking to purchase foreclosures.
San Diego Foreclosures Statistics:
2008 Total: 19,575
2009 Total: 15,487
2010 Total: 13,467
While foreclosures have been slowing down the last few years they are still a substantial and influential segment of the market. Many homes that would have previously gone to foreclosure are now being sold as short sales. We are very familiar with the processes and procedures in finding, writing offers and actually closing foreclosures and short sales. It can be a tricky market for some, but we have become very experienced as we have helped dozens of clients with foreclosures and short sales and have bought several of them ourselves. We can help with Fannie Mae, Freddie Mac and conventional/institutional foreclosure purchases.
We have also helped dozens of homeowners sell their homes as a short sale and have full time negotiators to help facilitate the process. Many lenders have improved the process of short sales and the participation in HAFA: Home Affordable Foreclosure Alternatives Program has helped expedite short sales as well. Call or email us for our complete packages on short sales and foreclosures.