Poway, CA

One of the things I like best about being in the real estate industry is that I'm not stuck in an office anywhere, and being self-employed in real estate is even better because if I'm out doing something and have some extra time, I don't have to rush back to the office or call in to check with the boss to make up a fake excuse about a flat tire, heavy traffic, etc. LOL

Last week I was up in the Poway area for a property inspection and finished at the start of rush hour. It's basically a waste of time and gas to try to drive from Poway to my office in La Mesa during rush hour, so I took the opportunity to stop at Walter Andersen's Garden Nursery.

Waltern Andersen has two locations, one in Poway and one on Pacific Coast Highway near Point Loma. The one in Poway has a cool garden railroad that might take up about one third of the nursery.

Fortunately, I had my camera with me (ha! as if you go anywhere without your camera), and I got busy looking at some of these free slide show utilities that I've gotten from my ActiveRain camping trips, and following is the result. There are 45 slides, beginning with the old auto.

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This week's posts (they'll open in a new window)

1. Frenetic Friday pop quiz: Foto Friday - 6/5/09
2. Home inspectors could learn from the National Association of Realtors - 6/4/09
3. WWW (Worldless Wednesday with Words): San Diego Zoo cats have it made - 6/3/09
4. Another great Seller disclosure: "There's a leak by the chimney...." - 6/3/09
5. I love it when Clients follow up with me.... - 6/2/09
6. Manic Monday pop quiz: "There is a small roof leak...." - 6/1/09

Last week's posts (they'll open in a new window)

1. Russel's Gardening Handbook: Grafting - 5/31/09
2. How to easily and naturally keep ants out of your home - 5/31/09
3. SST (Speechless Sunday with Text): S&S (not for the squeamish) - 5/31/09
4. After yesterday's inspection, I'm quite happy to be alive.... - 5/30/09
5. Frenetic Friday pop quiz: Kitchen sink cabinets and electricity - 5/29/09
6. I love it when the Seller's Realtor calls me.... - 5/29/09
7. Thunderstruck Thursday: Commander of the lake - 5/29/09
8. If you're trying to get your ActiveRain comments in for the day.... - 5/28/09
9. Suicide journey leads to a 15th anniversary - 5/26/09
10. Memorial Day for me.... - 5/25/09

Previous week's posts (they'll open in a new window)

1. SST (Speechless Sunday with Text): I can't inspect it if I can't get it - 5/24/09
2. Be proactive with your homeowners' association - 5/23/09
3. How do you determine if repairs were done properly, or even done? - 5/22/09
4. How to lower your blood pressure naturally - 5/22/09
5. My first Foto Friday: Tree textures - 5/22/09
6. Thankful Thursday: Hydrangea - 5/21/09
7. My new digital SLR camera system - 5/20/09
8. Providing FREE HELP can be fun (if there's a rose garden involved) - 5/19/09
9. Manic Monday pop quiz: Concrete cracks - 5/18/09

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Hello and Welcome to Poway California Foreclosure Auction, Bank Owned REO, and Homes for Sale.

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.

Understanding the process is the key, and here is how the process goes as an overview:

Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in San Diego and actually search Pre-Foreclosures in Poway for free click the yellow map.

Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Poway and Search upcoming properties scheduled for Foreclosure click the yellow map below.

Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Poway click here.

Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Poway click here.

Ultimately, the decision is yours and what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Poway click here.

We also attend the Foreclosure Auctions for Poway on a weekly basis and track virtually every Foreclosure property in Poway and would be happy to talk with you about your needs further.

We Look forward to hearing from you!

Poway California Auction, Foreclosures & Bank Owned REO Real Estate

We have added a new Pre-Foreclosure and Foreclosure Auction Search feature to our website. You can now search every Pre-Foreclosure, Foreclosure, and Auction property in San Diego County. This new capability, along with the ability to search all active Foreclosure, Short Sale, and REO listings, along with the entire San Diego County MLS, makes the Four Seasons Realty Website one of the most up to date and informative websites in the region.

Click the Yellow Map Below to search Pre-Foreclosure, Foreclosure, and REO Properties.

April 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 35 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 18.2% from the record level set the prior month. Notices of Trustee sale (Foreclosure Auction) also dropped by 8.5% 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

•· Nearly 90 percent of the foreclosed loans for the month of April 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.

•· 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 April saw Notice of Defaults at 3,441, Notice of Trustee Sales (Auctions) at 2,381, and Sales of 993.

•· The median home prices in Poway for that same period have fallen by close to 10% to a median price for Poway of 415,000 making Poway as affordable as it's been in years.

At Four Seasons Realty, we track most every Foreclosure in Poway and attend the auctions on a weekly basis and we come across many off market opportunities. To learn more about foreclosures in Poway, please visit our fully integrated Real Estate Website at http://www.fourseasrealty.com/powayforeclosure.html , 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!

Click the Map Below to Search the Entire San Diego Count MLS.

We look forward to hearing from you soon!

FNMA Mortgage up to 95% on SFR to $417,000 max loan amount. Great alternative to FHA and NO UFMI add to your loan.

Also, FNMA 90% LTV for investment properties on FNMA purchase Homes. Investors will be cap @ 10 max financed properties.

Rates as low as 4.5% on a 30 year FIX!

Call me or email for more information!

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