Short Sale, Foreclosure and Strategic Default

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Saturday, July 28, 2007

County foreclosures leap higher | The San Diego Union-Tribune

County foreclosures leap higher | The San Diego Union-Tribune

Home foreclosures in San Diego County continued a troublesome climb into record territory in June, but analysts say the number has yet to reach a threshold that creates a drag on real estate prices or the economy.


From May to June, county foreclosures increased from 532 to 657, a 24 percent increase and a record for any month since 1988.

Graphic: Default notices in Southern California
County notices of default, the first step in the foreclosure process that occurs when homeowners begin missing mortgage payments, totaled 8,314 for the first six months of 2007, compared with 3,311 in the same period last year, a 151 percent increase. From May to June of this year, default notices rose from 1,441 to 1,596, an 11 percent increase.

Although foreclosures are spiking, there is no reason for homeowners to

NAR: Prices Rise, Existing-Home Sales Decline in June

NAR: Prices Rise, Existing-Home Sales Decline in June

Update on the national foreclosure situation from the National Association of Realtors

New-home building permits plummet in O.C. - Los Angeles Times

Large declines in building permits for San Diego.

New-home building permits plummet in O.C. - Los Angeles Times

The decline there outpaced the drop in the Inland Empire and San Diego County, two of the weakest markets for new-home sales. In each of those areas, permits fell 67%, the construction board said.