With all the pundits talking about phantom inventory and the huge surplus of foreclosures, one would expect a massive number of bank-owned properties to be on the market. They are not. Enquiring minds want to know why not. First, let’s look at some numbers. According to http://foreclosureradar.com, the number of bank-owned properties, called REOs, in San Diego County has averaged about 6,500 a month for the past thirteen months. Yet, in the MLS, only  957 properties for sale are listed as REO...continue reading...

We have a gorgeous new listing in Brookside at 344 Melbourne Glen that will be open Sunday, March 13 from 1-4. This home is priced to sell at $539,000 to $559,000 and has many upgrades. This is a traditional sale! Nestled in the prestigious community of Brookside, adjacent to Reidy Creek Golf Course with easy access to freeways and shopping. This single story home is immaculate and shows beautifully. [gallery] Located on one of the largest lots...continue reading...

Foreclosure sales bounced back to levels not seen since robo-signing moratoriums went into effect last fall. With significant increases in Arizona, California, Nevada, Oregon and Washington; foreclosure sales rose both in terms of properties that went Back to the Bank and those Sold to Third Parties, typically investors. As a result Bank Owned Inventories (REO) increased everywhere except in Oregon where banks sold more homes then they took back. "We have not seen this level of activity on the courthouse steps...continue reading...

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