San Diego foreclosures are no longer just in risky neighborhoods. The foreclosure crisis has hit all sorts of homes in all types of areas. Pre-foreclosure, many homeowners and developers are willing to negotiate with a buyer/investor. If they can walk away with a little cash and satisfied liens, and you have a property for less than the market value, it can be a win – win proposition.
San Diego lofts are a popular lifestyle choice right now. Whether built brand new, or converted from formerly commercial and industrial space, the convenient locations, ample space, soaring ceilings and light pouring in through large windows make an attractive choice, and are a magnet for urban designers. Village Walk features lofts and condos that are influenced by the style of Italy.
There has been a lot of attention to nationwide foreclosures in the news lately. The number of foreclosures is up this month, and looks pretty drastic. This is partly because of the moratorium on foreclosures in December and through February, awaiting word from the White House on how the federal government would intervene. Now that the moratorium is over, foreclosed properties that were already set for auction have been again scheduled for sale, and now there is a backlog of them.
Good news for FHA loans! As of last week, there are new maximum loan limits that are available due to the American Recovery & Reinvestment Act. These new loan limits are for new and existing loan applications that are submitted with credit approval on or after March 12, 2009.
Here is a list of the 2009 FHA Maximum Mortgage Limits*:
$729,750 for one-unit properties
$934,200 for two-unit properties
$1,129,250 for three-unit properties
$1,403,400 for four-unit properties
These new limits open up the possibilities for many new buyers! Now lenders can go as high as a $729,750 …
I hope you enjoyed our San Diego city wide party for St Patrick’s Day this weekend. The parade near Balboa park was as usual, lots of fun. I really like having the park festivals and parade on the weekend, since it gives everyone with children a chance to come and really enjoy the fun here in San Diego.The party lives on here in San Diego, as the Gaslamp Quarter is now rolling in green Astroturf – to resemble the green hills of Ireland. There’s a fabulous outdoor musical party going.
You can get a great deal with a San Diego foreclosure, but you have to be aware of a few things. San Diego foreclosures are a great opportunity, but don’t go into the venture alone, especially if you are new to buying real estate.
Ask Me Anything About The San Diego Real Estate Market
Diana George Diana is the CondoDomain broker for sunny CA!. More information about Diana and her passion for real estate coming soon.... Read More
Thank you! Your inquiry has been received and Diana will get back to you very soon!
 |
