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.
3 responses so far ↓
1 San Diego Insider // Jan 27, 2008 at 3:14 pm
Murrieta isn’t in San Diego County - it is Riverside County.
2 John Wake - Real Estate // Jan 27, 2008 at 5:43 pm
Thanks for the correction.
Since it was in a publication of the North County Times, I’ll assume Murrieta is in the San Diego area.
3 New homes sale in Georgia for // Jan 28, 2008 at 11:54 am
The picture says it all. Where have all the people gone? Have people left CA. Are some of these foreclosures due to the recent firs?
I live in FL and alot are leaving also. It’s a shame because there are some great investment opportunities. I think people here after getting thru the 2004 Hurricanes and then the housing market and house insurance issue some are just tired of Florida.
But to an investor it’s the time to buy and you know people will return to FL as they do for the beaches, parks, theme parks.
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