It’s going to take a while for larger numbers of foreclosures to hit across the full spectrum of San Diego. We’re not likely to see the bottom for three or four years and even if you find a foreclosure that you like right now, you will be overpaying for the property. Then, you’ll be stuck with a mortgage and taxes on a property that you paid too much for. You may be frustrated but imagine how frustrated you will feel if you overpay by 20-30-40%?
Just look at these numbers that were posted in another thread:
Submitted by North County Jim on August 21, 2007 – 1:22am.
August 20 Report
283 NODs
161 NOTs
100 REOs
Submitted by North County Jim on August 30, 2007 – 2:30am.
August 29 Report
534 NODs
356 NOTs
254 REOs
Look at how the numbers are climbing in just a short period of time. Believe me……………they’re going to get a lot worse.
The smartest thing you can do is to just keep renting and if you don’t like the rental you’re in, move to another.
