Foreclosures Become Foreclosures in San Diego
We just got a bank owned asset to sell in San Diego that was purchased as a foreclosure two years ago 
and again is a foreclosure. I’m sure this isn’t the first and won’t be the last in a target rich environment for homes and condos being foreclosed on. It seems to be the state of the market here in San Diego County and the foreclosures throughout the country should continue through 2015. Is San Diego a buyers market, sure, is San Diego an investors market, you bet, is there the risk of property still declining in San Diego, of course and in many areas it probably will. Is now a good time to buy, that’s up to the buyer and what their ultimate goal is.
If the bailout goes through this week it should ease some of the concerns for the lending industry having money to lend at reasonable interest rates. If it doesn’t pass things in lending can really tighten up. How much, a lot! If the financial markets fall apart the lending industry could be practically shutdown. Washington is faced with two evils, bailing out the crooked companies on Wall Street to keep the economy from plummeting or let it follow on its course and slip into a crippling economy and wait the cycle out which could take decades. We should find out the direction of the economy soon.
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