In February 2007, 13 out of the 113 SFR/Condo properties that sold through the MLS in Oceanside had some reference to “bank owned” , “subject to short sale approval” or similar language in their MLS listings. That doesn’t include the probate sales, the divorce sales, the “second home, must sell” sales etc. That also doesn’t include the properties that might have been forced sales but were not marketed that way. A number of the 113 were new homes or condos that wouldn’t have even been marketed in the MLS prior to 01/2006.
In Vista it was 4 sales out of 54; in San Marcos it was 6 out of 72; in Carlsbad it was 4 out of 82. I didn’t look in Encinitas, but I imagine the trend there would be similar to Carlsbad.
Needless to say, “must sell” is where the action on pricing is; and the more that segment grows right now the more action there’ll be.
