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Hundreds of San Diego Homes Available for Under $200,000

HouseRebate.com announces October 2008 San Diego foreclosure numbers and a San Diego home deal list with single-family detached homes for less than $200,000 and condominiums for sale for under $100,000.

San Diego, CA (PRWEB) November 12, 2008 -- San Diego continues to have a large foreclosure inventory, giving potential San Diego homebuyers and investors great buying opportunities. As of November 10th, 2008, there are 5,862 San Diego bank-owned properties. Buyers have been taking advantage of low prices and distressed properties; the current number of 5,862 San Diego foreclosed homes has dropped from more than 7,000 foreclosed properties in October. With over 2,500 San Diego foreclosure properties actively for sale on the San Diego Multiple Listing Service (MLS), the remaining 3,362 bank-owned properties are being processed to be available for sale or are currently in escrow.

ANews Images proof of these buying trends, the number of San Diego foreclosure properties for sale in the next 90 days has dropped by fifteen percent: 3,979 San Diego foreclosure properties are scheduled for auction in the next 90 days, down from 4,589 in October 2008. Currently, there are approximately 7,000 San Diego homes and properties in the pre-foreclosure phase, down from more than 10,000 at the end of September 2008. Owners of San Diego real estate properties that are in pre-foreclosure have received a Notice of Default to alert them that a foreclosure auction is pending. Overall, however, San Diego bank-owned properties are decreasing as investors are buying up many of the foreclosure properties.

Brian Yui, CEO of HouseRebate.com, states that "there are countless opportunities for investors to buy San Diego distressed properties and achieve positive cash flow with only 25% down. Opportunities of this kind have not occurred in San Diego for over a decade. Because housing prices are back to 2003 price levels, but rents are at 2008 levels, in some San Diego suburbs a single-family detached home can be purchased for $200,000 and still rent for $1600 per month." Due to these money-making opportunities, many of bank-owned listings are seeing multiple offers as San Diego real estate investors bid against eager first-time homebuyers.

To respond to the growing demand for real estate bargains, HouseRebate.com has launched a a San Diego Home Deal list showing hundreds of single-family detached homes listed for less than $200,000 and hundreds of condominiums for sale for under $100,000. According to the Sandicor database, investors are moving quickly to snatch up bargains. In October 2008, 43% of home sales were San Diego bank-owned REO properties, up from 36% in September 2008.

HouseRebate.com, a member of the National Association of Realtors®, is a full-service value real estate company that maintains a seasoned staff of agents. They provide all the services that traditional real estate offices offer at discount prices, with reduced commissions on sale, and rebates of 33 percent on commissions of purchases. HouseRebate.com features a virtual foreclosure tour bus that shows currently available San Diego foreclosure properties and provides the complete San Diego Multiple Listing Service (MLS) online.

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