Houses for Sale in San Diego

Houses for Sale in San Diego- For the fifth consecutive month rise, the University of San Diego Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators rose by 1 percent in March.

This follows the largest increase in the index’s history in February when it jumped by 1.9 percent. The index is compiled by University of San Diego business professor, Alan Gin, and is designed to give a picture of San Diego’s near-term economic performance.

While Gin noted that it would take another four years to get back to the same level of employment as the peak of 2007, it was none the less good news for our local economy.  The index blends  local indicators such as building permits, stock prices, unemployment insurance, help-wanted ads, and  consumer confidence with the national economy. 

For assistance in buying  houses for sale in San Diego or to inquire about listing your property for sale, please contact Realtor Russ Petrone at (858) 775-1812 or visit www.PetroneProperties.com.

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Tags: Houses for Sale in San Diego, san diego economy, San Diego Real Estate Market, san diego realtor

Houses for Sale in San Diego- Can a lender still go after a deficiency balance following a short sale of a house for sale in San Diego?  The answer is yes if they are a junior trust deed holder.  

With passage of SB 931 which became  effective 01/01/ 2011, after the short sale of a residential property of one-to-four units, the holder of the first deed of trust cannot pursue the seller  for any deficiency under the note.  When a  lender consents in writing to a short sale they are requried to accept the sale proceeds as payment in full and the note is considered fully discharged.  This rule also applies to sellers who have refinanced their property as  long as it’s secured by a first deed of trust.  There are a few exceptions, but for the most part this covers most short sale sellers.

This new law does not  apply to junior trust deed lenders.  Thus, short sale sellers  may still be liable for the deficiency balance on those loans. The best way to prevent this from happening is reviewing the short sale approval documents  BEFORE the short sale closes. Employing the services of an experienced short sale real estate broker is crucial and can save you a huge headache and literally thousands of dollars. For more information about the short sale process for houses for sale in San Diego contact Russ Petrone with Petrone Properties at (858) 775-1812 or go to www.PetroneProperties.com.

Technorati Tags: Houses for Sale in San Diego, san diego realtor, San Diego short sale sellers, San Diego Short Sales, short sale deficiencies

Tags: Houses for Sale in San Diego, san diego realtor, San Diego short sale sellers, San Diego Short Sales, short sale deficiencies