Lenders take the hit …

Posted by Peter on Sep 23, 2008 and stored in Consumer advice, Featured, Foreclosure news

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percent 300x147 Lenders take the hit ...All these homes in San Diego County sold during late August and September 2008.

We have included examples of short sales and foreclosures from across the County for San Diego homes in the $300,000 to $500,000 price range so you can appreciate some the losses the Lenders took. Some sellers also lost any equity they put into the home whilst others refinanced and took cash out before things tumbled.

An officer from our affiliate escrow company Pickford Escrow reported to me recently that on average Lenders losses she was seeing in closing statements were between $150,000 to $200,000 per sale …

I am sure there are many sad tales to be told of San Diego home sellers who hit hard times or who could no longer afford the payments after rate resets, but there were also buyers glad to pay less for a home.

 

halecrest1 300x225 Lenders take the hit ...
4 bed 3 bath 1870 sq ft

 Halecrest Drive, Chula Vista 91910. Bank owned. Sold for $350,000 – last sale December 2004 $555,000 100% financing

 

vallejo mills 300x225 Lenders take the hit ...
3 bed 2 bath 1913 sq ft

Vallejo Mills, Chula Vista 91913. Bank owned. Sold for $368,000 – previous sale July 2006 $595,000

 

4 bed 2 bath 2240 sq ft
4 bed 2 bath 2240 sq ft

Bermuda, El Cahon 92021. Short sale. Sold for $350,000 – previous sale July 2005 $540,000
BTW – what was the agent thinking with this as a main photo :-O

 

3 bed 2 bath 1831 sq ft
3 bed 2 bath 1831 sq ft

Eagle Summit, Escondido 92026. Short sale. Sold for $375,000 – previous sale October 2006 $550,000

 

3 bed 2 bath 1432 sq ft
3 bed 2 bath 1432 sq ft

Avenida Vista Labera, Oceanside 92056. Short sale. Sold for $339,900 – previous sale September 2005 $515,000

 

4 bed 2 bath 2872 sq ft
4 bed 2 bath 2872 sq ft

La Soledad, Oceanside 92057. Bank owned. Sold for $435,000 – previous sale June 2004 $635,000

 

4 bed 2 bath 1532 sq ft
4 bed 2 bath 1532 sq ft

North Pacific St, San Marcos 92069. Bank owned. Sold for $325,000 – previous sale November 2005 $493527,000.

 

3 bed 2 bath 1308 sq ft
3 bed 2 bath 1308 sq ft

Maybritt Circle, San Marcos 92069. Short sale. Sold for $326,750 – previous sale March 2006 $493,000. Sellers equity of $100,000 went south.

 

5 bed 3 bath 3103 sq ft
5 bed 3 bath 3103 sq ft

Hillsboro, San Marcos 92069. Bank owned. Sold for $442,000 – previous sale October 2006 $790,000

 

4 bed 2 bath 2297 sq ft
4 bed 2 bath 2297 sq ft

Cassablanca Court, Vista 92081. Bank owned. Sold for $399,900 – previous sale September 2006 $650,000

 

2 bed 2 bath 1018 sq ft
2 bed 2 bath 1018 sq ft

Hawthorne, Downtown San Diego 92101. Bank owned. Sold for $360,000 – previous sale June 2005 $535,000

 

1 bed 1 bath 1036 sq ft
1 bed 1 bath 1036 sq ft

Horizons 1st Street, Downtown San Diego 92101. Bank owned. Sold for $420,000 – previous sale $690,000

 

3 bed 2 bath 1234 sq ft
3 bed 2 bath 1234 sq ft

Mount Alifan, Clairemont 92111. Bank owned. Sold for $420,000 ($20,000 over list price) – previous sale February 2006 $584,000

 

3 bed 1 bath 996 sq ft
3 bed 2 bath 1778 sq ft

Gaylord Drive, Clairemont 92117. Bank owned. Sold for $305,000 – seller refied December 2006 $594,000

 

3 bed 1 bath 996 sq ft
3 bed 1 bath 996 sq ft

 Cleo Street, College area 92115. Short sale. Sold for $350,000 – previous sale April 2006 $430,000

 

4 bed 2 bath 2301 sq ft
4 bed 2 bath 2301 sq ft

Lake Arrowhead Drive, San Carlos 92119. Short sale. Sold for $$425,000 – previous sale July 2006 $612,000 100% financed

 

4 bed 2 bath 2301 sq ft
3 bed 1 bath 1006 sq ft

Westmore Lane, Mira Mesa 92126. Bank owned. Sold for $320,500 – previous sale June 2007 $420,000 – that didn’t take long :-(

 

3 bed 2 bath 1134 sq ft
3 bed 2 bath 1134 sq ft

Acama Street, Mira Mesa 92126. Short sale. Sold for $329,900 – previous sale September 2005 $450,000

 

3 bed 2 bath 1310 sq ft
3 bed 2 bath 1310 sq ft

Fieldthorn, Rancho Bernado 92127. Bank owned. Sold for $419,000 – previous sale August 2005 $535,500

 

3 bed 2 bath 1678 sq ft
3 bed 2 bath 1678 sq ft

Manzana Way, Paradise Hills 92139. Bank owned. Sold for $325,000 – previous sale May 2006 $555,000 100% financed

4 bed 2 bath 1934 sq ft
4 bed 2 bath 1934 sq ft

Sea Strand Lane, San Diego 92154. Short sale. Sold for $355,000 – previous sale September 2006 $615,000 100% financed



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