San Diego Real Estate Foreclosure Auction

January 28, 2009

From NBC San Diego:

Southern California has one of the highest foreclosure rates in the country.  Although it’s a sad situation for many, some people are benefiting from the misfortune, especially first-time homebuyers.

In the past week the Real Estate Disposition Corporation has auctioned off more than 1,300 properties throughout Southern California.  Wednesday it’s San Diego‘s turn to start the bidding.

“All the properties that are being auctioned off have been foreclosed upon by major banks and lending institutions, said Walter Skrzynski, executive Vice President of REDC. “The banks don’t want to keep the properties on the books. They want to get them back out to the public.”

Bidders need to bring a  $5,000 cashier’s check, a personal check to pay the rest of the deposit and identification.  Skrzynski said buyers should do their homework.

USHOMEAUCTION.com


More Banks Foreclosures Are About To Hit The Market

January 26, 2009

San Diego Real Estate Foreclosures

If you watched the videos of Bruce Norris from one of my previous posts you will likely know that inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale — often in communities already awash in distressed properties. Inman News has the complete article here.


Happy Chinese New Year 2009 – Year of the OX

January 26, 2009

Chinese New Year 2009 Year of the Ox

Monday, January 26th, 2009 marks the beginning of the Chinese New Year of the Earth Ox. This is the Chinese year 4707. This is the second year in the 12 year cycle of the Chinese horoscope and promises to be a better year than last year. Even though last year was an earth year, this one is yin instead of yang, and thus promises to be less tumultuous. Now that you have finished with all of the loose ends from the last 12 cycle and started in a promising, if somewhat chaotic fashion with the year of the rat; it is time to continue making smart choices and move slowly forward, to ensure a firm base for this 12 year cycle! This is the year to stay stead fast to whatever seeds you planted, fertilize them and watch them grow. It will not be quick, good choices are essential, but it should not be as traumatic as the last couple of years.


Ox years are slow, even paced, hard working years. One foot in front of the other, going slowly forward is the motto. Unfortunately Earth has a destructive relationship with the Ox’s fixed element, Water. This makes for some hard times! We have seen this conflict of elements for the last 4 of 6 years. However this is not all bad, and as long as we remain optimistic, there will be success. It will not be flashy, it will take work, but we can succeed.


This is the year for intellectual pursuits. Great minds coming together, making a plan, and setting it in motion. Steady savings and financial stability are hallmarks of this sign. The last time the earth Ox was seen as the ruling influence was January 29, 1949 – February 15, 1950. The world was in another recession in late 1948 and early 1949. The world economy recovered during the year of the ox due to rational decisions and careful planning.  Thus planning, scholarship and research are favorable activities this year. It is also an auspicious time for the arts, applied arts such as design and graphics are best. Be creative; think outside the box, but with your feet on the ground. It is important to select only a few projects, and research them thoroughly, and start slowly and keep on going. No ‘get rich quick’ schemes this year.


This is a good year for romance, slow and steady. Be on the lookout for the right mate. Take it slow. This year also boosts careers as long as you keep your other responsibilities in mind (the ox year can cause one to loose sight of those around them, family and friends, when they are working hard on a project).

People born in the year of the ox are steady, reliable, trustworthy, patient, hard working; stubborn, fearless, obstinate…..Do you get the picture? They are just the person you want on your team in these hard times. They know how to keep going, moving forward in the face of extreme hardship. Oxen tend to be very verbal. They may be soft spoken, but you will want to pay attention when they speak. It is no wonder that Barack Obama is an ox. They are willing to tackle the workload when it becomes overbearing for others (lucky us). Ox make a very good match for rats, snakes and roosters, but can have some troubles with the horse, the sheep and the pig.

Other people tend to look up to Earth Oxen because of their reliability, sincerity and their modest ambitions. The year 2009 will be a period of lasting accomplishments. This is true for individuals, societies and the human race in general. There may be times when motivation appears to be lacking. Keep pushing forward.  In fact the big challenge everyone faces is to generate the enthusiasm and desire to act. Those individuals and organizations that do will create enduring benefits for themselves and the world.

1949, 1961, 1973, 1985, and 1997 are years of the ox.

Attention California Real Estate Investors…

January 24, 2009

This is a MUST ATTEND Class for any and all California Real Estate Investors. Bruce’s information is absolutely the best as it relates to investing in California Real Estate.

CATEGORY 5
Preparing California Real Estate Professionals for 2009

More about this event from The Norris Group:

In 1997, Bruce told the real estate industry a great boom in price would occur. In 2006, Bruce told us the boom was over and there would now be a crash. While some thought his predictions were ludicrous, most have turned out to be conservative.

In his coming Category 5 report, Bruce will go into great detail why 2009 will be the most volatile year California has seen since the Great Depression. With that volatility, will come the opportunity to gain great, permanent wealth.

“The Norris Group is actively buying and selling properties today in California. We’re not afraid of the market,” Bruce Norris says, “But we’re extremely respectful of a market in transition. By the end of 2008, The Norris Group will have purchased around 50 properties. In 2009, I expect to buy and sell around 100. This research report is just as much for me as the audience. We have to know what to look for in a changing market to protect ourselves and our investments.” – Bruce Norris

Click the Image Below to Hear Bruce Speak about Catagory 5

Bruce Norris - Catagory 5 Video

I also love Bruce’s Podcast as well and listen to it regularly. Give it a try.


Move Back to San Diego… everyone else is.

January 23, 2009

Pacific Beach San DiegoAccording to the California State Department of Finance for the 12 months ending July 1, 2008 more people are moving into San Diego than leaving for other counties and states for the first time in five years.

“That’s quite an accomplishment,” state demographer Linda Gage said. “The state certainly had a (sustained) level of out-migration last year. San Diego is more unusual in having that (domestic migration) turnaround.”

The state lost 135,173 residents to other states and nations in 2007-8, about the same as the year before. But because of a net increase of international migration and more births than deaths, the overall state population rose 435,905 to top the 38 million mark for the first time.

San Diego State University geography professor John Weeks said the shift in San Diego’s migration pattern could be an early sign of a bottoming out of San Diego’s housing slide and a signal that the economy might pick up here earlier than elsewhere.

“If times are good relative to other places, even if they are not as good as five years ago, then we’ll see some returned migration to San Diego,” he said, “and that will be indicative of better times here than elsewhere.”

Read More in the SD UT article HERE…


Here’s To The Crazy Ones…

January 22, 2009

This is one of my favorite adverts from Apple. In light of the rough times we saw in 2008 and in celebration of the wonderful changes 2009 brings our way I’d like to share this with you and invite you to be Crazy Today.

“Here’s to the crazy ones. The misfits. The rebels. The trouble-makers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules, and they have no respect for the status-quo. You can quote them, disagree with them, glorify, or vilify them. But the only thing you can’t do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.”
~ Apple


4429 Tremont St. #4 – San Diego Real Estate For Sale

January 21, 2009

Click the video to play:

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CLICK HERE FOR A PDF FLYER of 4429 Tremont St. #4

Lovely 3 bedroom, 2 full bath condo in a quiet, lushly landscaped and secure/gated complex that is central to all of San Diego Metro. Amenities include fully enclosed playground equipment, sport court with basketball hoop, 2 assigned parking spaces (#123 & #105), dual pane windows throughout, modern kitchen and maple cabinetry. This is a top floor unit in a bldg of only 4 condos. The bright kitchen has ample counter space and looks west over the shared greenbelt. Make this beautiful condo a MUST SEE.


San Diego FORECLOSURE Real Estate

January 21, 2009

Two new hot foreclosure deals to look over fresh off the San Diego Real Estate MLS this morning.

  • 2 bed, 2 bath Condo in La Jolla near WindanSea – $432,500
  • 3 bed, 2 bath House in the Mount Streets of Clairemont  –  $309,000

Click HERE for a PDF with more info.

San Diego Real Estate Foreclosure Properties For Sale


San Diego Home Sales Report – January 2009

January 20, 2009

January 2009 – The total inventory of available homes in San Diego this month stands at 15,431. Foreclosures make up the majority of the market, accounting for 9,593 or 62% of homes for sale. Existing home sales represent 38% of the market (5,813 homes) and new homes represent 0.2% of the market (25 homes).

The good news is that foreclosures create a great purchase opportunity, given their reduced costs. Buyers will get more square footage for every dollar spent and will benefit from low interest rates.

Now is a great time to buy!

San Diego Real Estate Foreclosure Report


San Diego Real Estate Home prices tumble 24% from 2007

January 19, 2009

San Diego Real Estate Homes Prices FallFrom this weekend’s Union Tribune:

San Diego County ended 2008 with the worst real estate downturn on record, with prices dropping more than 24 percent from 2007 levels. The question on the minds of buyers,sellers, renters and real estate professionals is whether 2009 will bring more of the same or mark the start of a recovery. Read More Click HERE…

Download the UT Article in PDF Form Here.

It looks as though 2009 will be the year of “getting off the fence” for buyers. Not only in our office, but across San Diego in general we are seeing a remarkable rise in the number of homes going into escrow AND closing. When you decide it’s time to Move Back to San Diego, get in the game for the first time or relocate we offer a FREE MLS Search Tool that you can access here.

DataQuick released information today that shows sales are on the rise and prices are down. We think this year will be a great opportunity for buyers of all kinds.

San Diego Real Estate Sales are UP