San Diego Short Sale Recap
San Diego Short Sale Homes First-Half of 2012 Stats
In San Diego, how many homes are being sold by short sale? San Diego short sales are outnumbering San Diego foreclosures in all categories. In today’s interesting San Diego real estate market, the effects of short sales are being felt. Here are some current details compiled from the SANDICOR MLS system according to San Diego short sale specialist Gary Kent at the Gary Kent Team of Keller Williams in La Jolla.
Active San Diego short sale listings of houses for sale today are at 404, with another 236 condos on the market. The surprising number (or not that surprising) is that in San Diego there are 3,187 short sale homes in escrow in the Pending or Contingent status in the MLS. Condos number 1,918 in the same status. This shows us that many San Diego home owners are looking for relief for their underwater homes.
Closed sales on San Diego short sales for the first half of 2012 are 2,555 for detached houses and another 1,569 for condos. For the month of June 2012 there were 450 houses and 245 condos sold and closed.
Compared to San Diego short sales, there are only 156 houses and 68 condos that are bank-owned and on the market for sale today. In June there were 293 REO houses and 159 REO condos sold and closed, with the first half sales coming in at 1,844 and another 1,031 bank-owned condos sold.
As an REO agent, Gary Kent and his team have sold over 800 homes for bank clients and were recently ranked in the top 250 agent teams in the nation by Real Trends. These numbers support the idea that there is a big shift by the lenders to help distressed San Diego home owners complete a short sale on their house or condo.
This is a significant part of the market. Many San Diego home owners are wondering if a short sale on their San Diego home is possible. The first step for most is to determine whether they have any equity in their San Diego home or see how long it will take to recover to the point where they will once again owe less than the market value. San Diego short sale specialist Gary Kent has developed www.ShortOrStaySanDiego.com to help San Diego home owners easily determine this. In addition, he has written a comprehensive free San Diego short sale guide, available at www.MyShortSaleGuide.com .