Encinitas, CA

As a buyer or seller in the Encinitas real estate market, it is important to have information about the market conditions in order to make a more informed decision about what to do with regard to buying, or selling, your Encinitas home.

Here is a summary of the Encinitas real estate market for June 2009 based on statistics from the MLS (private sales are not included nor are manufactured and mobile homes). These data are deemed reliable but are not guaranteed.

READ MORE: Encinitas - An Eclectic Seaside Community

In June 2009 there were 35 homes sold in Encinitas (a 43% increase in sales over May, following a 25% increase over April). Here's the breakdown of overall activity.

There was a significant bump up in sales volume in June, as we have seen in other communities including Carlsbad, while the days on market remained about the same.

There were 23 homes with a Contingent status at the end of June (i.e., short sale and REO homes having offers that are being considered by the lenders). These homes are still considered Active and are included in the overall active statistics below.

At the end of June 2009 there were 254 Encinitas homes for sale, 5% fewer than in May. This represents an inventory of 4.2 months for attached homes, down from 5.6 months in May, and 8.8 months for detached homes at the current rate of sales, a decrease from 10.5 months in May (based on a 6-month period).

66 Encinitas homes came on the market in June (53 detached and 13 attached), compared to 76 the previous month (a decrease of 13%), with 53 going pending during the same time period (40 detached, 13 attached), a small increase (4%) over May, a trend we have seen over the last 5 months.

These data are based on information provided by the MLS for homes that went under contract in the last couple of months. More details about the Encinitas real estate market can be provided with regard to current activity as well as within specific areas such as Encinitas Ranch, Leucadia and Olivenhain.

Watching the trends over time, as opposed to focusing on the data for one particular month, are more revealing and informative, and will provide a better index of what is happening in the Encinitas real estate market. If I can provide more information, please let me know.

READ MORE:

Encinitas Real Estate - Encinitas Market Report for May 2009

Encinitas Real Estate - Encinitas Market Report for April 2009

Encinitas Real Estate - Encinitas Market Report for March 2009

Encinitas Real Estate - Encinitas Market Report for February 2009

Encinitas Real Estate - Encinitas Market Report for January 2009

Subscribe in a reader

If I can provide more information about Encinitas, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Encinitas California Foreclosures, Bank Owned REO, Short Sale, and Homes for Sale

June 29, 2009

Real Estate Silver lining or still too early to tell? Lets look at the numbers...

May 2009 Foreclosure, REO, and Short Sale update.

According to Foreclosure Radar (A service which tracks every single foreclosure daily in the state of California) in the month of April Foreclosure notices in the state of California saw a decline while foreclosure sales rose in the state of California.

Sales at the actual foreclosure auction rose by 32 percent overall. According to estimates foreclosure sales sold to third party investors at an average of a 28% discount from estimated market value.

Notices of default dropped by an estimated 4.2% from the record level set the prior month. Notices of Trustee sale (Foreclosure Auction) increased by 42% from the prior month.

Although it's too early to tell if this will be a trend its important information to consider and keep an eye on.

Some important bullet points to consider:

·· Notice of defaults still remain at close to record highs. To search Pre-Foreclosure Properties click here.

·· Nearly 90 percent of the foreclosed loans for the month of May were originated between January of 2005 and December of 2007.

·· Lenders took back almost 12,000 foreclosures in which no third party bid was received. These properties become REO inventory (Real Estate Owned), and then are usually listed with Real Estate agents or sold at third party auctions. To search current REO inventory click here.

·· The percentage of total properties sold at foreclosure auction still remains pretty low compared to the overall amount of homes for sale going through the auction at only 12% with 88% going back to the lender.

·· San Diego county for the month of May saw Notice of Defaults at 3282, Notice of Truste Sales (Auctions) at 3294, and Sales at auction of 1322.

·· The median home prices in Encinitas for that same period have fallen by 23% to a median price for San Diego of $518,500 making Encinitas as affordable as it's been in years.

So what does this all mean? There are still many foreclosures coming down the pipe and foreclosure activity is still at record levels. However, sales volumes are now starting to turn around. San Diego County sales volumes were up 67% last month from May of 2008. Many first time and value buyers are now stepping back into the market. The many incentives such as the $8,000 tax credit, low interest rates and decade low prices (for many areas) are making this a great time to purchase for many people. The median home price in San Diego appears to have stabilized somewhat recently going from 280,000 in March, to 285,000 in April to now 290,000 in May. It will be important to see how this number holds up with the continued high level of Foreclosures.

Click the yellow map below to view Pre-Foreclosures, Foreclosures, Auctions, REO, Short Sale, and the entire San Diego County MLS.

At Four Seasons Realty, we track most ever Foreclosure in San Diego and attend the auctions on a weekly basis and we come across many off market opportunities. To learn more about foreclosures in San Diego, please visit our fully integrated Real Estate Website at www.fourseasrealty.com , where you can search all active foreclosure, short Sale, and REO listings along with the entire San Diego county MLS.

You can also sign up for our free Property watch service which will automatically keep you updated of any new listings that fit your guidelines or any price changes!

We Look Forward to Hearing From you!

It's cheap.

It's environmentally friendly.

And it runs on bio fuel converted from used vegetable oil.

And it can help with our traffic congestion on busy weekends.

It's the new Beach Shuttle running through Leucadia, Downtown Encinitas and into Cardff-by-the-Sea along the coast road/Route 101. And it will only cost you $1 (one-way), or $5 for a weekend pass.

READ MORE:

Encinitas

Leucadia

Cardiff-by-the-Sea

Wherever Shuttle provides the bus - the Coast Cruiser - that covers a several mile route through these coastal towns (and yes, stopping at Moonlight Beach in Encinitas) with 11 stops, including the Coaster Station (commuter rail). The company collects used vegetable oil from a number of area restaurants, so keep eating those fries.

The new shuttle is a pilot program for 14 weeks on weekends through Labor Day (hours are 11 am until 9 pm) but my bet is it will become a full fledged service. I'll have to test it out - it stops at several of my fave places in the area - near Auggie's House of Crab and Moonlight Beach.

READ MORE: on the Leucadia 101 website.

********************************

Subscribe in a reader

If I can provide more information about Leucadia, Encinitas, Cardiff, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

Surfer magazine has released in its July issue a list of the Top 10 surfer towns in America, with California claiming the #1 and #3 spots. Santa Cruz came in #1, probably not a surprise to anyone who follows surfing, with Haleiwa, Hawaii, claiming the runner-up spot.

Need to sell in Encinitas? Upsidedown on your Encinitas Mortgage and can't afford it?

Are you a buyer looking to purchase an ENCINITAS SHORT SALE? Contact me to be your ENCINITAS REALTOR!

Whats a Short Sale?

A short sale is when someone is trying to sell their home for less than what they owe on their mortgage. For Instance. If you bought a home 2 or 3 years ago, say for 400K, and now you can sell it for 300K. So, if your loan was for 400K, you need to get BANK APPROVAL to " SELL SHORT" on what you owe.

Is a Short Sale Short?

Depends. If you are a buyer or seller considering doing a short sale, it can be a very very.. very long process, however, not all the time. The Typical Short Sale ( if there were a thing) would last about 4 months.

If you NEED TO SHORT SALE your house you can contact me to discuss your situation. Basically, if you are rich and just dont like paying more than your home is currently worth, THINK AGAIN! HOWEVER..... if you are in FINANCIAL HARDSHIP, then you have a decent chance successfuly completing a SAN MARCOS SHORT SALE....

Contact me to discuss your ENCINITAS REAL ESTATE NEEDS!

SEARCH FOR HOMES IN ENCINITAS CA