San Diego County Foreclosures Jump 247%
RealtyTrac reported that San Diego County showed 4,845 foreclosure filings for August 2007. This is a 247 percent over the 2006 foreclosure filings. Just for the month of August vs July 2007, the foreclosures increased 80%!
California cities had six of the top 10 metro foreclosure rates in August. Many mortgage agents expect adjustable loan resets not to reach hit their peak until the spring of 2008.
Some of our prior San Diego forclosures posts were: Worst Conditions Ever Seen by the Modern Mortgage Industry, Employment Report Negative Surprise . . . for Some, San Diego Housing Bust … How Bad Can It Get?, Mortgage Bubble Meltdown, 1.1 Million Mortgage Defaults Projected, New High for California Foreclosures [tags]San Diego foreclosures, San Diego real estate, San Diego housing, San Diego real estate bubble, San Diego housing bubble[/tags] downtown San Diego real estate
Trackbacks & Pingbacks
Comments are closed.
There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable.
heather
San Diego Attractions
It seems that SD real estate follows about a 10 year boom to bust cycle; perhaps it takes 10 years for people to forget the last bust.
Brooke
San Diego County Real Estate Agents