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 August 13, 2008

San Diego Foreclosures
More than 7,000 properties owned by banks are being reported through July. Over two thousand San Diego homes and condos are currently listed. It is also being reported that out of more than 2,500 homes and condos sold in the county, thirty percent were owned by banks.
Hopefully the new Housing Act will decrease the projected numbers, but, as of now, some experts are thinking that the foreclosure rate may continue to increase through 2009. Another figure being reported, twelve thousand homeowners in San Diego have received default notices, while 1/3 of those are going into foreclosure in the next three months.

Zip codes in San Diego that have been hit the hardest with foreclosure are 92154, 92114, 92105, 92113, 92115 and even the downtown San Diego condos market has taken quite a hit.