July 14, 2024

San Diego home foreclosuresJust two days ago, DataQuick Information Systems reported home foreclosure activity in San Diego County dipped slightly from June to July,

DataQuick analyst John Karevoll said. "There definitely are more on the way." A flood of adjustable rate mortgages with weak underwriting were issued in 2005 and 2006, placing thousands of potential defaults "in the pipeline," Karevoll said.

DataQuick reported 641 foreclosures in July, a 2.44 percent decrease from 657 foreclosures reported in San Diego County a month earlier. But, year-over-year, defaults were up by 128 percent in July. During the first half of 2007, the county had a record 2,896 foreclosures, compared with 445 during the first half of 2006.

Personally, I expect default activity to increase sharply in the months ahead. In the know bankers have stated that 2.5 times as many home loans that have adjusted in the first half of 2007, are due to adjust in the first quarter of 2008![tags]San Diego foreclosures,home foreclosures,San Diego real estate, San Diego real estate bubble,San Diego housing bubble,San Diego Realtor, San Diego real estate agent{/tags] San Diego real estate agents

8 thoughts on “San Diego Home Foreclosures … The Worst is Yet to Come!

  1. I’m confident that there is a silver lining in all of this. I envision that one day in the near future, we will encounter nothing but smooth transactions without all of the “mortgage drama” ….”lender abuse”….and the old-fashioned “bait and switch” so rampant in the 1990s and early 2000s. Thank God!

    San Francisco California Lawyers

  2. San Diego real estate. Hey! I could have sworn I’ve been to this site before but after checking through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be bookmarking and checking back frequently!

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