Houses for Sale in San Diego – The decline in foreclosure filings for homes in San Diego County over the last month and year are another indication the San Diego real estate market is stabilizing. The number of foreclosures for San Diego homes has decreased nearly 30 percent from one year ago and almost 2 percent since April of this year. Analysts believe the foreclosure numbers reported in May confirm the April trends of foreclosure activity leveling off for San Diego homeowners.
In San Diego County, 5,386 foreclosure related notices, actions, and occurrences were reported by RealtyTrac, a company which tracks foreclosure activity nationwide. According to RealtyTrac, the number of foreclosure filings for homes in San Diego County dropped 29.6 percent from one year ago and 1.9 percent since April.
The San Diego real estate market ranks 26th out of 203 areas covered on RealtyTrac’s list of distressed housing markets. Although that ranking does not sound very good, it is an improvement for the San Diego housing market. In May 2009, the San Diego real estate market ranked 18th. The ranking for an area is determined by comparing the number of foreclosure filings to the total number of homes. One distress filing was reported in May for every 211 San Diego homes.
If you are at risk of losing your San Diego home to foreclosure, you have several options. First, contact your lender to request information about how to apply for loan modification programs, principal reduction, and foreclosure alternatives. If you would prefer to do a short sale for your San Diego home to avoid foreclosure, contact San Diego Realtor and Broker Russ Petrone of Petrone Properties Real Estate Associates at 858-259-1000. With 25 years of experience in the San Diego real estate market, Russ has the experience, knowledge, and negotiating skills to successfully navigate through the short sale process and help you sell your San Diego home for the highest value in the most expeditious manner possible.