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California Short Sales, Foreclosures, REOs Los Angeles, San Diego, Riverside & Orange County Short-Sales Listings
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15 Mar 09 San Diego Home Values Hurting Local Homeowners

A recent analysis from DataQuick shows that more than one-quarter of all homes in the San Diego region are worth less than the owners owe on their mortgages.   Local inland San Diego communities generally were hit hardest by foreclosures last month. The ZIP code with the most foreclosures in the county in January was south Chula Vista’s 91911 with 66, a year-over-year increase of 32 %, DataQuick reported.

 

Home values in the San Diego area have fallen for six straight quarters. Since the third quarter of 2007, San Diego values are down almost 10%. San Diego values at the end of the fourth quarter of 2008 were at about the same level as the first quarter of 2005. Many real estate insiders believe that 2009 will see the bottom of the market which is good news for San Diego Housing.

 

San Diego Housing Buzz publishes new home sales, foreclosure sales and short sales reports.  Learn all about the buzz happening with the market in San Diego.