San Diego Real Estate Foreclosures...What I Do for a Living

Today I submitted an offer for a client on a one bedroom/one bath condo here in San Diego.

The condo had been purchased in 2006 for $237,000.

It is in average condition in an average condition condo complex of 70 units.

It had been foreclosed on by the original lender, meaning it is owned by that lender.

The list price of this condo--which I personally inspected--was now $89,500.

I am not at liberty to disclose what my client offered, but this specific example is a fair representation of the values currently available in San Diego for single family houses, condos and multiple unit properties up to four units.

The losses taken by others, including lenders, are producing absolutely incredible opportunities for those able to buy while this highly desirable market (San Diego) is flat on its back.

My telephone # is: 619.743.1424.

I would be happy to chat with parties who have CASH and who can move FAST when presented with opportunities. Claims made will need substantiation before any information beyond the little snippet in this post will be divulged by me. I have no intention of giving away for free information that has taken me years & years to accumulate---and I can identify a BS artist in a New York minute.

Those who have BS or some ridiculous ideas from a real estate seminar will be dismissed out-of-hand.

On a Personal Note: The San Diego Housing Market

I am involved in the San Diego real estate market, particularly in the housing sector.

It has been in a Depression for 2 years, with both prices and number of transactions taking radical hits.

But I have observed and am participating in what appears to be a bottoming process taking place in the market this year.

Buyers are suddenly crawling out from the caves in which they've hidden for the last 24 months as price levels have dropped to a point where "deals" are out there to be had by shrewd people. The availability of bank-owned, foreclosed properties has swollen; and this swollen inventory is priced to sell. Also, more homeowners facing foreclosure are listing their homes for sale at very attractive prices in an attempt to avoid the stigma of a foreclosure on their credit record.

This dynamic hurts "regular" sellers, but produces extraordinary opportunities for intelligent buyers to pick up properties for a fraction of their "bubble" highs.

If you read other posts on my Blog, I hope they convey that I am an honest guy giving his best opinions on various topics.

This post falls within my own guidelines of truthfulness---but it is only my opinion, and sometimes I'm just flat-out wrong.