April 27th, 2009 8:03 PM by Michael Barrow
Okay, I admit it...I've been a bad blogger the last couple of weeks. But I do have a good excuse! The San Diego foreclosure market is on fire, and I have been EXTREMELY busy working with a TON of buyers. With rates at historical lows and prices back down to 2002-2003 levels this is a once-in-a-lifetime opportunity that is bringing out everyone from the first-time home buyer to the cash investor.
And a little inside scoop...There is a very large second wave of foreclosures about to hit the market! Many of the big lenders had a moratorium on foreclosures while the Obama administration was working on their big loan modification and refinance plan. Well, now that that plan is in place, and the banks have been able to figure out who they can help and who they can't, the moratorium has been lifted and a lot more San Diego foreclosures will be coming on the market.
So, to make up for my absence the last couple of weeks it's going to be San Diego Foreclosure Friday every day this week!!! And I'm starting today with a property that even I have been waiting in anticipation to see what it would close for!
PREVIOUSLY SOLD $1,350,000 (3/29/2007)
One of the largest drops in price that I have seen at almost 50% off the previous sale price! This extremely rare 2 bedroom, 2 bath, 1615 square foot penthouse in the Discovery building sits high on top of Cortez Hill with views all the way from Balboa Park to the Coronado bridge. This luxury unit comes with floor to ceiling windows, hardwood floors, gas fireplace, granite counters and cherry wood cabinets in the kitchen, and a huge outdoor patio. It is an absolute steal at $677,500!
CURRENTLY LISTED $194,900
PREVIOUSLY SOLD $401,000 (12/7/2006)
This adorable cottage in Golden Hill sits just outside of downtown. With 2 bedrooms, 1 bath, and 710 square feet it is the perfect alternative to condo living! This home sits on a great little lot with a good size front yard and a large covered deck in that overlooks the backyard.
Remember, I'm doing penance for missing the past couple of weeks, so be sure to check back again every day this week for another San Diego Foreclosure Friday!
If you would like more info on either one of these listings, other foreclosure properties throughout the San Diego area, or general information about buying foreclosure properties, please check out my website page on buying San Diego foreclosures. You can easily contact me from the form on the bottom of that page, or via email at Michael@NeelyBarrow.com.
You can also check out my website to search all the homes for sale in San Diego.