How Banks and Lenders are devaluing neighborhoods ..
San Diego foreclosures (there were 1,979 in August alone in San Diego County) are a feature of the landscape and usually not very pretty – I’m refering to the "brown lawn" syndrome.
Some Lenders are responsible and proactive, but the photo to the right of a foreclosure in San Marcos (see end of post for info) is fairly typical and unfortunately these eyesores bring down the value of surrounding homes. Swimming pools are a problem too, unattended with power off they rapidly turn green and are a potential health hazard and mosquito breeding ground.
Some Cities are adressing the situation head on: Chula Vista last year took a strong stand against Lenders and Loan Servicers and so far have imposed fines totalling $850,000 and leins on those Lenders that have allowed abandoned homes to become eyesores. Their ordinance has become a model for other Cities across the US. San Diego City also tracks foreclosures, but is less agressive than Chula Vista. Now Santee, Escondido and San Marcos have followed suit planning to become more proactive and enforcing existing codes.
San Marcos is planning on levying fines of up to $1,000 a day, made possible by a new law passed in July by Gov. Schwarzenegger (Senate Bill 1137) which spells out the responsibilities of banks and mortgage companies regarding foreclosed homes. It’s not just the lower priced areas that have been affected either, the newer upscale San Elijo Hills development has been affected as well. Oceanside is also considering using this provision.
This is the right course of action to take and we applaud these San Diego Cities for enforcement. Cleaning up blighted homes with stabalise neighborhoods and preventing some needless sliding of home values. 
Search for San Diego foreclosures on this site (hopefully some without brown lawns or green pools!) or explore our consumer advice pages.
If you have a home in your neighborhood that is foreclosed and obviously negleted send me a photo and we will create a wall of shame gallery - I’ll even consider quoting the Lender on each submission! Submit photos to this email address.
The photo above is 1624 Curry Comb, San Marcos 92069 – Owner: Ownit Mtg – currently for sale at $270,905. 9000 sq ft lot 3beds and 2 bath. Last sale $465,000 Aug 2006.
» Posted by Peter
