Murrieta, California – Foreclosure central in San Diego area

I like to follow the Southern California real estate market looking for trends that may be coming to Arizona.

It looks like a neutron bomb hit this area of the San Diego area. The buildings are standing but no one lives there.

The resulting effects, shown in an analysis by The Californian of foreclosure and sale listing data in the 92563 ZIP code in Murrieta, illustrate the pandemic nature of the county’s, and the nation’s, housing crisis:

– For every non-foreclosed home for sale, there are about three and a half homes in, or in serious danger of, foreclosure.

– A full 80 percent of the area’s 35 December home sales were bank-owned homes the result of foreclosure.

January 27, 2008 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

Visit Authors Website →