Bank Owned Condo - Yes, you can buy this condo for under $75,000. This condo is fresh on the market – Great opportunity to get into this condo and own something in central San Diego. Close to all of the freeway’s right off of Interstate 94. Complex features a great pool and spa in the complex, exercise room and is in a gated community. Bank Owned – NOT a short sale! Seller is motivated. The condo is clean and sits in a great area of the complex with small balcony on the 2nd floor overlooking complex. Don’t worry about having anyone above you because you are on the 2nd floor in this unit.

The price of this condo is currently listed at $74,900. It just came on the market today and is already creating a lot of interest. If you would like to view this condo please call us today and we will make arrangments to show it to you. You can also view all of our current San Diego bank owned foreclosures for sale by clicking on this link. Thank You.

An increase in Foreclosure activity in any market also results in increased activity for Real Estate Auction companies.  Let me clarify a key point that seems to be causing some confusion.  When I refer to “Real Estate Auction” I am not talking about the Trustee Sale that occurs when a lender takes title to property because the property was lost to foreclosure.  The Trustee Sale is a totally different type of auction and one that i will write a different article on at future date.

What I am referring to is the Auctions that we now see being advertised heavily on television and newspapers.  These auctions are offering single family homes and condos at what appears to be substantial price reductions. 

These auctions are as a result of the current property being a bank owned listing that has been on the market longer then expected and the bank needs to sell it ASAP. The interesting thing is that these properties have already been available to the public for sale and as a result of them not selling they give the auction company the right to sell them and it creates a big frenzy and many people feel like they are really getting a great deal and sometimes they are but many times the property ends up selling above what it was being previously listed for.

Auctions are not a bad way of buying real estate foreclosures but you will find that you don’t find the true investors buying a large % pf their portfolio at the auctions. You will have a much better chance of getting a good deal on real estate buy doing your own homework and looking to purchase foreclosures prior to them going to auction. Contact me for additional information about buying bank owned real estate in San Diego County.

Please feel free to read our article recently written about different ways to purchase foreclosures. You should also call a local real estate expert in your area that can help you find the foreclosure you arelooking for. We have all the San Diego Foreclosure Information you need if you are looking in the San Diego area.

Foreclosures by City in San Diego County

Every week or so we run different reports in the MLS that give us a good idea of the Foreclosure listings currently on the market. Not every bank owned listing is listed below but this will give you a good idea of where you will see the larger volume of short sale in San Diego County. Obviously San Diego will lead the way but notice the high number of Bank Owned listings currently for sale in Chula Vista, Escondido and Oceanside. Please feel free to take a look at all of the available bank owed homes below. Please view all of the current listings in our Foreclosure section. You will see that we update our bank owned listings every week.

San Diego Foreclosures 292 active Chula Vista Foreclosures 137 active Escondido Foreclosures 92 active Oceanside Foreclosures 62 active El Cajon Foreclosures 54 active Spring Valley Foreclosures 42 active San Marcos Foreclosures 36 active Vista Foreclosures 32 active Santee Foreclosures 19 active National City Foreclosures 18 active Lemon Grove Foreclosures 15 active Ramona Foreclosures 14 active Carlsbad Foreclosures 13 active Lakeside Foreclosures 13 active La Mesa Foreclosures 12 active Fallbrook Foreclosures 9 active Imperial Beach Foreclosures 6 active Poway Foreclosures 5 active Valley Center Foreclosures 5 active Bonsall Foreclosures 4 active Pine Valley Foreclosures 4 active CAMPO Foreclosures 3 active Bonita Foreclosures 3 active Boulevard Foreclosures 2 active Cardiff By The Sea Foreclosures 2 active Jamul Foreclosures 2 active Potrero Foreclosures 2 active JACUMBA Foreclosures 2 active ALPINE Foreclosures 1 active Palomar Mountain Foreclosures 1 active Escondio Foreclosures 1 active Ramonaq Foreclosures 1 active La Jolla Foreclosures 1 active TECATE Foreclosures 1 active San Ysidro Foreclosures 1 active Rancho Bernardo Foreclosures 1 active Solana Beach Foreclosures 1 active

If you are interested in buying foreclosures in San Diego please feel free to read our recent post about different ways to purchase foreclosures. We sell a lot of foreclosures so please feel free to view all of the San Diego Foreclosure information available. There are several different articles about buying foreclosures. We also recently took a listing in the Encanto area of San Diego. If you are looking for a bank owned home in Encanto please view the listing in our bank owned listings section.

Bank Owned – Great 1 Bedroom unit on the 11th floor of Acqua Vista in the heart of Little Italy. Great with views of the bay, city and other areas of the downtown area in San Diego. Acqua Vista sits in the heart of Little Italy and continues to be a very desirable building in San Diego. It has easy access to freeways, close to shopping, restaurants, and close walk to the bay. The complex features a lap pool, spa, GYM and 24 hour security – on-site attendant. If this is not the unit you fall in love with please call us or view other bank owned listings in San Diego by going to our foreclosure section for San Diego County.

This is a great condo in a great area. We are holding regular open houses so please call to get additional information about viewing this or any other bank owned real estate in the Downtown San Diego area. We specialize in selling foreclosure real estate in San Diego County. Please contact us to help you find the bank owned home that will work for you.

Bank Owned condo in the heart of Mission Valley right accross from Fashon Valley Mall. This is truely a one of a kind property that you must see! This property is in the Abbey complex in Mission Valley. Even though it is a condo it feels like it is a large single family home. It appears to have been several untis that were converted into 1 large unit. It has no common walls with any other units in the complex. It sits on a corner lot with a great view. Assessor says property is 2,480 SF condo with 5 bedrooms!

We sent our appraiser out to do a rough calculation of the square feet for this property and it appears to be 3,500+ square feet. Please review some of the information about what this property offers. Here is what I have complied to give you a better idea of how someone may look at this property if they were considering a purchase. Master bedroom 17 x 16 = 272, Bedroom next to garage with window 13 x 12 = 156, Small room off the stairs 15 x 8 = 120, Small bedroom next to small room off the stairs 15 x 10 = 150, Large Bedroom upstairs on top floor 20 x 15 = 300, Main family room off 22 x 22 = 484, Main dining room off entry 12 x 12 = 144, Main kitchen 12 x 12 = 144, Additional living room next to main kitchen on 1st floor 17 x 12 = 204, Additional dining room next to living room on 1st floor 16 x 11 = 176, 2nd family room upstairs in small studio granny flat 22 x 19 = 418, Kitchen in granny flat 9 x 8 = 72, Total of Approximately 2,640 Square Feet In addition to this square footage, there are EASILY another 1,000 + square feet in bathrooms, closets, stairs, and hallways. This count 4 usable bedrooms, 5 full bathrooms, 1 room that you walk through to get to other room that is optional room, 2 family rooms, 1 living room, 2 kitchens, 2 dinning rooms, 2 car garage. This is truly one of the most unique properties I have every seen. In addition this unit features a very large backyard with private spa, views of Mission Valley, Golf Course. It will need to have some upgrades including new carpet, paint, appliances. Appliances appear to be original. We don’t know much about this property but from talking to other neighbors int he complex, it appears that many years ago the previous owner pruchased both units in the building and had the city planning department remap the condo map to make it one large unit. That is why you have a very large unusual unit that features 2 kitchens, 2 seperate entrances, 2 large living areas, 2 different decks and 1 large backyard that. Please feel free to view all of our current bank owned foreclosures by visiting our San Diego foreclosure information section.

New Bank Owned listing we have taken in the Ramona California area. We just listed this home in the Ramona area for $325,000. It has a great lot, it’s close to everything in Ramona right off of the main boulevard that runs through it. Great location in the heart of Ramona. The previous owners from what I have learned went through a divorce and left the property in bad condition. It appears that it was in the middle of having some work done to it to fix it up and it was just stopped in the middle and not completed. It’s a great opportunity to buy a large lot in Ramona. Property is on large level lot with front gate.

Has large 2 car garage connected to house. Also has carport on other side of home that you can park 2 cars under and plenty of space in the front and back yard. You really need to check this out and make sure you take a look at this property if you are looking for a nicehome with large lot in the Ramona area of San Diego County. We are available to show this property at your convenience. We have had a lot of interest in it so please call as ASAP today! To view other bank owned property, please view our Foreclosure Property’s for sale in our foreclosure section.

View San Diego Foreclosures for sale at the following page San Diego Foreclosures.

Bienes Raices en San Diego

De manera recurrente escucho esa pregunta: Puedo comprar lo que me gusta pero mas barato? Cuando será ese momento? No existe una respuesta absoluta. Los expertos en el manejo de fondos de inversión tampoco encuentran respuesta absoluta cuando se trata de comprar una acción al precio mas barato y/o venderla al precio más caro.

El costo de oportunidad se integra por diversas variables, de su evaluación como un todo se puede identificar ese momento; pasar del deseo a la acción, de la planeación a la ejecución. Es una decisión personal, un proyecto y visión particular.

Veamos variables financieras:
A) Una propiedad de $ 100,000 a una tasa del 6.0% a 30 años. B) Precio de $ 95,000 y una tasa del 6.25%.C) Precio de $ 92,000 al 6.25%, estas serian las cifras:
A) $ 100,000 al 6% los pagos mensuales serian de $ 599.55 – $ 215,838.19 por pagarse de capital e interés –
B) $ 95,000 al 6.25% los pagos mensuales serian de $ 584.93 – $ 210, 575.28 de capital e interés -
C) $ 92,000 al 6.75% los pagos mensuales de $ 596.71 – $ 214,815.69 por pagarse en la vida del crédito –

No es garantía alinear precio bajo y tasa baja. En este caso conviene B que no es lo mas barato ni en precio ni en tasa, mas en conjunto representa la mejor oportunidad de compra financieramente hablando.

Veamos variables cualitativas:
A) Queremos esquina
B) Queremos casa de un piso
C) Queremos vista
D) Queremos una zona reconocida como deseable
A) El porcentaje de casas en esquina es tan limitado como el hecho de que en cada cuadra hay solo 4 esquinas.
B) En San Diego no más del 5% de las casas construidas son de un piso. Cada vez hay mas densidad por tanto menos casas de un piso.
C) En un desarrollo cualquiera, las propiedades con vista son limitadas.
D) Aun cuando el mercado haya girado a favor del comprador, existen áreas donde las casas en venta solo se tardan más en vender pero los precios no tienen una reducción considerable o equiparable a los promedios de las zonas con propiedades reposeídas.

Si pensamos que las propiedades bajaran más en los próximos meses o años, que los intereses seguirán bajando y los inventarios seguirán creciendo, quizá estamos dejando pasar buenas oportunidades de inversión.
Me atrevo a compartir mi sentir: Las acciones que tomen Gobierno – Federal y Local -, Desarrolladores, Bancos, Inversionistas y Compradores en su conjunto evitaran que en el futuro se presente de nuevo algo similar. A finales de los 80’s inicios de 90’s hubo una crisis a partir del sobre inventario de producto terminado – Los Desarrolladores no podían venderlo -. La práctica era construir el complejo y promover su venta una vez completado. Hoy se construyen en etapas o fases de no más de 8 a 12 unidades. Resultado: Ya no tienen sobre inventario excepto desarrollos verticales.

Volverán los Bancos e Inversionistas a prestar hasta el 100% del valor de una propiedad? Volverán a prestar a quienes no demuestren capacidad de pago? Dejará San Diego de ser una ciudad con atributos y clima capaz de atraer a nacionales y extranjeros? Location, Location , Location; San Diego lo tiene. Recuerda que a ti como comprador no te cuesta tener una representación legal, ya que en Estados Unidos el vendedor es quien paga la comisión de tu agente. Permíteme ayudarte a diseñar un traje a tu medida. No te aventures a comprar sin un guía profesional que defienda tu interés.

Manuel Muniz
Bienes Raices en San Diego
Realtor & Mortgage Consultant
Cel: 619-370-7473
Fax: 619-489-2669
Email: mmuniz@axiasd.com
Website: www.TeamAguilar.com

As all of you have heard the real estate markets are struggling in many areas of San Diego. This is due primarily to the other hot topic in the news: Sub-Prime Lending. Unfortunately many homeowners in the last few years have fallen victim to the frenzy in the lending market that encouraged homeowners to buy or refi using a loan that starts with a low rate and then, at the end of its initial two year period, begins adjusting. During the first five years of this frenzy rates were low and it didn’t matter when the loan reached that first adjustment. Today we are in a different Interest Rate market and many borrowers are finding that first adjustment is causing their payments to be out of their reach. This in turn is the reason why we are hearing so much about Foreclosures. It is unfortunate for many that are losing their homes, however the reality is that this also creates opportunity for many investors.

As many of you know I have spent years managing and disposing of foreclosed properties for banks and lenders. The number of available foreclosed homes is growing and the prices are dropping. During the last 7 years, many of you would call me and ask about buying a foreclosure and I would tell you that it was very rare to find a foreclosure in this market because there were so many buyers for every home that came on the market. This has changed and we now have growing lists of condos and single family homes.

Remember, as with any investment, the time to buy is when the market is Down and Sell when the market is up. You may remember the early 90’s when we saw a record decline in real estate prices in San Diego. Many of you also took advantage of that market and purchased property that we sold 5 years later at double and even triple what you paid for. While no one can predict the future, we can make decisions based on what we have seen in previous markets. We are heading into another similar market as the 90’s and if you have an interest in investing in this market this is the time to do it!

Real Estate California

With the sub-prime mortgage market taking a hit like it has in the early part of 2007, we have seen a large increase of distressed property. Major real estate markets have been effected. San Diego has seen some significant changes but not as bad as many other markets.

When you look at data in the San Diego area, the property that is selling is being sold at a fair market price. We are not seeing the fire sale we saw just a few months ago when your home would sell before you could put up a for sale sign. With mortgage rates increasing, allowing fewer people to afford to purchase and driving the demand down, it indirectly effects the family’s that have purchased a home thinking that they would be able to refinance into a lower payment after a few years. The increase in interest rates has increased the amount of property’s that will go into default.

REO property is the end result of a person loosing their home and the home going back to the bank to be sold. It becomes an REO property which stands for Real Estate Owned and now becomes the banks top priority to sell. Banks do not want to be in the real estate business and do not want to take back a property but unfortunately when all other avenues are exhausted the end result is foreclosure and the bank takes back the property so they can sell it.

REO property can be a great investment for investors and regular individuals looking to buy a home. It can also be a more complicated process to purchase a REO home but working with a experienced Real Estate Agent can help make the process fairly simple.

If you think that you may want to purchase REO or bank owned property and you are not sure where to start. Please call us today to discuss. We have a experienced team that works with many banks REO departments all over the country and we can help you find something depending on what your needs are. We have all of the San Diego Foreclosure Information you will need if you are looking to purchase foreclosures in San Diego County.

Carlos Aguilar