July 19, 2024

California foreclosuresSan Diego home sales for October were down 32.5% vs. October '06. Also, DataQuick Information Systems reported that the median October home price fell $10,000 from September to $460,000. This is the lowest median home price since April 2003.

RealtyTrac Inc.an Irvine-based company in analysis of foreclosure activity in the nation's largest 100 metropolitan areas during the three months ended Sept. 30 shows seven cities in California and five each in Florida and Ohio were among the top 25 metro areas with the highest foreclosure rates.

Stockton, about 83 miles east of San Francisco, had the highest foreclosure rate in the third quarter among the top 100 metro areas, with one foreclosure filing for every 31 households, RealtyTrac said. [tags]San Diego home sales, San Diego housing, California foreclosures[/tags] San Diego California real estate agents

 

5 thoughts on “San Diego home sales for October worst-ever & lowest median price since 2003

  1. During the year ended Jan. 31, there were 13,249 homes in default or foreclosure in San Diego County—a 192 percent jump from the previous year. Defaults and foreclosures went up 131 percent statewide and 42 percent nationally, according to RealtyTrac in Irvine. One in 79 homes in San Diego County are in default for foreclosure, compared with one in 229 the previous year, RealtyTrac says.
    Throughout the United States, nearly 5 percent of homeowners are delinquent on their mortgage payments, said the Mortgage Bankers Association. For subprime borrowers, the delinquency rate has hit nearly 14 percent.
    For people to think that we could go back to traditional lending standards and have prices remain where they are now is just crazy. Real estate will have to go back to 2000 levels. And a lot of people who just bought a home will find that instead of having an asset, they will have a liability. Downtown San Diego real estate

  2. So how bad is it? I hear all these ramblings, fancy financial terms and so on. But what does it all really mean? Does the US collapse? Do we see soup lines and down trodden people like the experience was during the Great Depression? Seems to me the US financial catastrophe is pretty simple. Our government and the citizens of the US have consistently spent more than they take in. At some point the debt becomes so great we are unable to pay it back, or manage it. When we are no longer able to pay our debts what happens? Do we surrender assets, land and military hardware to the foreign nationals we’ve been burrowing money from over the last two decades? Maybe a fire sale of America? The whole system is a sham and we only have ourselves and those shysters in Wall Street and the Scum of Washington DC to blame..Sorry to say but, neither McCain, Clinton nor Obama will be able to save us from this SNAFU. The concept of uncontrolled spending and deficit through credit has finally caught up with us. This decade is perhaps a time for reckoning in which our short sighted ways and embrace of Wall Street’s psychopathic free market capitalism garnered by greed and unequaled corruption will finally get the best of us..

    Sandy
    San Diego California Medical Studies

  3. And to top it all off—soon to be exPres George W Bush will be leaving U.S. with a $10trillion dollar debt to be paid with declining home prices. Give me back Clinton’s 90s balanced budget economy any time compared to the nutz currently running Washington.

    Dr. Kohl
    Acne Treatment

  4. Home prices will fall up to 50%, the Fed cant keep up wit da jingle mail folks, cutting rates to 0 = 33% inflation. Poor, poor timing. Jimmy Rogers recently called on Blind Ben to resign, a total screw up.

    Darrren
    Acne medication

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