Investment in beach property foreclosures in San Diego
An article in the San Diego Union-Tribune revealed that real estate in San Diego is a stabilizing market, with a 25.3 percent drop in foreclosures between the first and second quarters of the year. Still, budget-minded buyers have been finding deals, as short sales of homes for sale in San Diego have been increasing significantly. The source revealed that industry experts believe short sales have been used as an alternative to foreclosures, accounting for the observed trend.
Another recent article, in the local news outlet La Jolla Light, explored how evolving San Diego real estate trends are affecting buyers' decision-making processes regarding which areas to move to and what kinds of properties to look at. The source revealed that short sales have been popping up left and right in San Diego, particularly in University City, Clairemont, Linda Vista, Rancho Santa Fe, Del Mar and La Jolla. However, even though short sales are up, foreclosure properties remain a significant part of the housing market.
According to La Jolla Light, buying foreclosed properties in San Diego's coastal areas may allow interested buyers to benefit from the prevalence of distressed homes in the local market.