Encinitas California Homes for Sale, Foreclosures, Auctions, REO, Short Sale Property.

Hello and welcome to Encinitas California Homes for Sale, Foreclosures, Auctions, REO, Short Sale Property.

September 16, 2009

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

August 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 August 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 3.4 percent overall to 17,289 sales. According to estimates foreclosure sales sold to third party investors at an average of a 29.7% discount from estimated market value.

Notices of default dropped by an estimated 19.1% from the record level set the in June. Notices of Trustee sale (Foreclosure Auction) decreased by 15.1% 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 in Encinitas California and other San Diego cities 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 roughly 14,327 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 in Encinitas California and other San Diego cities 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 19% with 81% going back to the lender.

• San Diego county for the month of May saw Notice of Defaults at 2,855, Notice of Truste Sales (Auctions) at 2,623, and Sales at auction of 1305. To search Pre-foreclosures, Foreclosures, and property which went back to the lenders in Encinitas California and other San Diego cities click here.

So what does this all mean? There are still many foreclosures coming down the pipe and foreclosure activity is still at close to record levels. However, sales volumes are now starting to turn around. San Diego County sales volumes were up substantially last month compared to August 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. To learn more about properties for sale in Encinitas California and other San Diego cities click here.

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

At Four Seasons Realty, we track most every Foreclosure in San Diego County and attend the auctions on a weekly basis. We also come across many off market opportunities as well. 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 pre-foreclosures, foreclosures, auction, 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!