Kudos to Lindismith for providing the inspiration for this thread when wishing she could do a keyword search on ZIP realty for short sales. I just set up a search on the MLS for short sales. I ran a search on the Remarks section, the Confidential remarks section and Suplement for “short sale”. I need to do 3 separate searches and there will be some double counting as “short sale” could be in more than one place. Disclaimer: It is far from scientific but is the best we got.
Todays tally among active listings……164 attached and detached homes. I will try to remember to update this each Monday. Remind me if I forget.
I doubt it is complete and the number is likely higher but at least we have something to follow now. When I mapped the locations of the properties it looks like there is a Great Wall of San Diego around the middle of SD county running along 78, the 15 and the 8. The vast majority is on the outside of the wall thus far.
Kind of along these lines, there is something I like to do. I go to Foreclosure.com and pull up just the NODs for the zip code I’m looking in. Even though they don’t give the full address or details, one can often match them up with listings on Zip. The more you get to know the listings in your area, the easier it is. It’s a matching game!
Kudos to you for undertaking the research. On a different note I have gone into Monster.com from time to time and plug in “foreclosure” to see how many jobs pop up. Over the past 3 months or so I would estimate an increase of about 10% in the number of job postings.
I also found your comment interesting about a wall surrounding the interior of San Diego when you mapped out the comment based listings.
181 and counting. Thats an increase of 10% in just over a week. BTW, total SD County listings for attached and detached properties are down to 18,853 which is a drop of about 20% from peak inventory (approx 23,500).
In crease in desperate seller will bring down price much faster than increase in sellers in general. So this new data of 10% increase in desperate seller is great news even when supply decreased 20%.
My brother-in-law who is a bankruptcy attorney is seeing a lot of people with foreclosures looming. In almost every case they have done everything to hang onto their home. One couple was making their payments, and buying their groceries and gas on credit cards. It simply became too much for them. They are now going to stop making their house payments and find someplace else to live.
He says most of his clients have some combination of lost job, or sickness that results in income problems. A lot of them have simply overspent, but I was surprised by how many that were sick, and had no savings.
Searches for “foreclosure” and “pre-foreclosure” yields a few more results. Also, searching for “bank” in the remarks fields brings up many of the bank-owned properties.
