About Chula Vista's Otay Ranch

Chula Vista Bank Owned Home

Chula Vista Bank Owned Home

CHULA VISTA, CA BANK OWNED HOME: This bank owned home is located in Otay Ranch and is in excellent condition. The home was built in 2001 and is 3,465 square feet and has 5 bedrooms and 3.5 bathrooms. If you're looking for a home with a bedroom and a full bathroom downstairs, look no further. This bank owned beauty boasts a large kitchen with a huge island for this holiday parties. There are 2 fireplaces one of them in the master bedroom. This is one of those bank owned homes that is move in ready and ready for your offer.

We have helped many buyers get into the home they are looking for in San Diego County. Many times we have Bank Owned Properties and Short Sales that need to sell fast. Make sure you let us know what type of home and in what location of San Diego you are looking at. We will keep you posted with any new homes or condos we have for sale.

If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.

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All Information is believed to be correct but not guaranteed.

Posted in San Diego Foreclosures, San Diego Real Estate Blog, Dawn Lewis REO's, San Diego Real Estate News, San Diego MLS, San Diego New Homes, San Diego Real Estate, South Bay, Chula Vista, Otay Ranch

Hello and Welcome to ~Otay Ranch~ Chula Vista California Foreclosures, Bank Owned REO, Homes for Sale, Real Estate.

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 ~Otay Ranch~ Chula Vista and actually search Pre-Foreclosures in San Diego for free click here or 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 ~Otay Ranch~ Chula Vista and Search upcoming properties scheduled for Foreclosure click here or 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 ~Otay Ranch~ Chula Vista click here or the yellow map below.

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 ~Otay Ranch~ Chula Vista click here or the yellow map below.

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 ~Otay Ranch~ Chula Vista click here.

We also attend the Foreclosure Auctions for ~Otay Ranch~ Chula Vista on a weekly basis and track virtually every Foreclosure property in San Diego County!

We look forward to hearing from you!

Otay Ranch Real Estate Market Report Summer 2009

Otay Ranch Real Estate Market Report Summer 2009 - Otay Ranch 91913 and 91915 in Chula Vista like the rest of San Diego County is still valuing down. This report will combine zip codes 91913 and 91915 although the majority of Otay Ranch is 91913 areas like Windingwalk are 91915. 91915 also include parts of EastLake. The combined home sales for June 2009 for 91913 and 91915 are 99 homes. The median home price in June is $375,000 with a decrease from last year of 4% for 91913 and 11% for 91915. The combine condo sales for the two Chula Vista Zips are 45 condos. There was a decrease in condo values from last year of 24% in 91913 and 17% in 91915. The median condo price is $203,000. If you're buying or selling in Otay Ranch or anywhere in Chula Vista call me, Dawn Lewis.

San Diego Real Estate Market Conditions - The San Diego MLS is filled with short sales and foreclosures and out of the two the short sales stay on the market a very long time making it look like the San Diego Market is saturated with homes for sale but the reality is there is very little to actually write offers on. The conventional listings as well as REO's sell fast when in good condition and priced correctly. Multiple offers on many of the lower end price ranges of San Diego homes and condos.

Buyers are actually getting discouraged with the lack of inventory in the San Diego Market. I have personally seen over 50 offers on a single property for sale that was priced correctly. This is not uncommon. Also keep in mind if you're a buyer that 49 out of the 50 offers won't get accepted. This is causing many buyers to be disillusioned by the market and home buying and has them second guessing any agent that they hire. The upper end still has room to drop and should be looked at with caution. Use a good Realtor like me to help you with all of your Real Estate needs in San Diego.

June 2009 Sales and Median Prices

Central San Diego Existing Home Sales - 565 Median Price $365,000 Down in value -10% from last year. Existing Condo Sales - 475 Median Condo Price $263,000 Down in value -10% from last year.

East County Existing Home Sales - 340 Median Price $295,000 Down in value -15% from last year. Existing Condo Sales - 139 Median Condo Price $131,000 Down in value -22% from last year.

North County Inland Existing Home Sales - 629 Median Price $364,000 Down in value -13% from last year. Existing Condo Sales - 189 Median Condo Price $216,000 Down in value -15% from last year.

North County Coastal Existing Home Sales - 386 Median Price $455,000 Down in value -17% from last year. Existing Condo Sales - 128 Median Condo Price $323,000 Down in value -23% from last year.

South County Existing Home Sales - 376 Median Price $320,000 Down in value -15% from last year. Existing Condo Sales - 169 Median Condo Price $151,000 Down in value -28% from last year.

When you need help with San Diego Real Estate please call me and my team. I have over 20 years experience as a licensed agent in San Diego and have sold well over 2,500 homes. Put my experience to work for you.

If you need help buying or selling a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.

San Diego Foreclosures

San Diego REO Listing Agent

San Diego Real Estate San Diego MLS

San Diego Relocation San Diego Home Search by Map

San Diego Home Buyers San Diego Home Sellers

San Diego House Values Local Real Estate Information

San Diego Real Estate Blog San Diego Short Sales

San Diego Foreclosures San Diego Green Homes

San DiegoListing Book

All Information is believed to be correct but not guaranteed.

Posted in San Diego Foreclosures, San Diego Real Estate Blog, San Diego Market Report, San Diego House Values, Otay Ranch, San Diego Real Estate, South Bay, Chula Vista, Blogroll

Hello and Welcome to Chula Vista, California Foreclosure Auction, Bank Owned REO, Homes for Sale, Real Estate.

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 Chula Vista and actually search Pre-Foreclosures in Chula Vista 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 Chula Vista 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 Chula Vista 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 Chula Vista 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 Chula Vista click here.

We also attend the Foreclosure Auctions for Chula Vista on a weekly basis and track virtually every Foreclosure property in San Diego County!

We look forward to hearing from you!

Dog Eat Dog in South Bay San Diego Real Estate

South Bay San Diego has been and continues to be a very hard place to buy a home. It has one of the highest amounts of REO AKA Bank Owned Foreclosures and Short Sales in San Diego County. Chula Vista Real Estate, especially homes priced $300,000 and under, is a very popular price range. I have written well over 100 offers with several clients in the South Bay and have had only 2 accepted. My clients also write good fair offers on the properties they are interested in buying.

Most of the homes in the South Bay are short sales and can stay on the market for many months and sometimes over a year. To a buyer or non savvy real estate agent, this makes it looks like there are lots of homes for sale in the MLS and on sites like Realtor.com and Trulia. The truth is that most of the homes are short sales with many offers on them and no answer in site from the bank on what they'll accept for a sale price. Some short sales I have had offers in on have had well over 20 offers rivaling some of the REO listings with the highest I've seen have well over 40 offers. This market can leave many home buyers discouraged.

The rumor of the second wave of foreclosures, which is not a rumor, is on the way with the hole in the dam already gushing water and the collapse of the dam imminent. But why are the asset managers representing the banks not unloading these toxic assets faster. This is a good question and is talked about often among real estate agents and REO agents like me. The most logical and most likely among people in the know is waiting for the administration. That's right, it's believed by some that the banks are waiting to see if Obama will buy back the toxic assets with your tax dollars. If the banks sell the REO's now they won't get money from Washington. If the bank sells now they will take the loss on the home which is $100,000 or $200,000 or much more. If they wait for another bailout by Big Brother they can get the money from us "you and me" and not take a loss. Would you wait? Of course this is just talk who knows if it's really true or going to happen.

In the mean time if you're buying a home in South Bay San Diego be patient and don't get discouraged. Buying a home will take time and should be considered and adventure like life itself.

If you need help buying a home or condo in the San Diego area make sure you contact us we're your San Diego Realtor.

San Diego Foreclosures

San Diego REO Listing Agent

San Diego Real Estate San Diego MLS

San Diego Relocation San Diego Home Search by Map

San Diego Home Buyers San Diego Home Sellers

San Diego House Values Local Real Estate Information

San Diego Real Estate Blog San Diego Short Sales

San Diego Foreclosures San Diego Green Homes

All Information is believed to be correct but not guaranteed.

Posted in San Diego Real Estate Blog, San Diego Short Sales, San Diego Market Report, San Diego Real Estate News, San Diego Foreclosures, San Ysidro, San Diego Real Estate, Chula Vista, EastLake, Paradise Hills