Carlsbad California Daily Foreclosure Auction Results - Bank Owned Homes for Sale

Jan. 22, 2010 - PRLog -- Carlsbad California Daily Foreclosure Auction Results - Bank Owned Homes for Sale


This is your resource for daily numbers from the Downtown San Diego Foreclosure Auction and Carlsbad California.   We want to bring you a brief summary daily of the results at the auction for Downtown San Diego which handles sales throughout the entire county.

The foreclosure auction sales are open to the public on a daily basis and they usually start at 10am every weekday, excluding holidays and are held at 220 West Broadway, San Diego, Ca.  There is also an auction held in El Cajon daily, but these numbers are from the Downtown Auction.   I attend these auctions on a regular basis and would be happy to provide you additional insight into buying properties at them, just contact me direct.   To track upcoming homes going up for sale at the auctions visit us at http://www.fourseasrealty.com/san-diego-foreclosure-auction.html

Here is an overview of the days numbers for January 21'st, 2010.

Carlsbad, California saw limited activity for the day with only 9 properties going up for sale.   Out of the 9 that were scheduled, 2 of them were cancelled, while the other 7 were delayed a month.

San Diego County as a whole saw the following results for the day.


Total Properties up for Sale           Cancelled             Postponed        Sold to 3rd Party      Back to Bank

           180                                          25                        137                         6                                  12



Percentage sold to 3rd party: 3%

Percentage going back to lenders: 7%

Percentage Postponed: 76%



You will obviously notice from these numbers that the majority are being postponed or cancelled until some date in the future.    You will also notice of the 18 sold, 12 of them went back to the bank.   These homes will now become bank owned homes or (REO) inventory.   The bank usually will then evict the current owner or tenant and then put the properties up for sale with a local Real Estate company.   To search current Bank Owned Homes for sale in Carlsbad or other San Diego County cities visit us at http://www.fourseasrealty.com/carlsbad-foreclosures.html

Of the properties that sold to 3rd party investors here is what we find:

Sold to 3rd party (Sales Price)            Amount that was owed to lender(s)             Sales price/LoanAmount

$259,000                                              $398,283                                                          65%

$303,400                                              $597,174                                                          51%

$315,000                                              $534,092                                                          59%

$468,200                                              $692,896                                                          68%

$340,812                                              $527,300                                                          65%

$187,100                                              $515,359                                                          36%



As you can see from above, of the properties the banks took to auction and sold to 3rd party investors, they are taking a pretty large discount from what they are owed.   However, as we can see from the numbers, the majority are still being delayed until some date in the future.   Banks will delay properties for multiple reasons as many times they are working something out with the current owner, entertaining short sale offers, or just delaying it for their own internal reasons.   However, you can clearly see the bottleneck of properties that are being delayed.   Many times we find that the properties that go back to the lenders become great investment opportunities as well for a myriad of reasons.   To find out more about bank owned homes for sale in Carlsbad visit us by clicking the link above.

As I mentioned above, we attend the foreclosure auctions on a weekly basis.  If you have questions about them, please feel free to call or email and I will give you an overview of how the process works to find out if its right for you.   There can be great benefits of buying at these auctions, but it's not right for everyone.  Sometimes a Bank Owned Home, a Resale, or Short sale can be a better fit for you and still a great buy!   To view all properties for sale in Carlsbad visit us at http://www.fourseasrealty.com/carlsbad-homes-for-sale.html

From our website you can search all Pre-Foreclosure, Short sale, Foreclosure, Resale, and Bank Owned Listings for free!   You can also sign up for our Property Watch Service which will automatically keep you updated of any new listings that fit your guidelines 24 hours a day!   All this is free to you, all we ask is the opportunity to be of service to you or someone you know in the future!  

     

I look forward to hearing from you soon!

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Four Seasons Realty is a full fledged Real Estate firm in San Diego County. Our website offers full MLS search capabilities along with Foreclosure, REO, and Short Sale listings. We look forward to hearing from you!