San Diego real estate blog

Irvine, Calif.-based RealtyTrac Inc. which monitors default notices, auction sale notices and bank repossessions reported today that nationwide the number of homes moving toward foreclosure more than doubled in the first quarter from a year ago.

The report showed a total of 649,917 homes received at least one foreclosure-related filing in the first three months of the year, up 112%! *To read the full post, please visit the San Diego California real estate blog

For every FHA-backed loan that goes into foreclosure, the agency's insurance fund pays $98,740 on average to mortgage servicers. In contrast, it gave incentives of $136 to $7,169 to lenders willing to modify loan terms. *To view the full post, please visit the San Diego California real estate blog

Most San Diego homeowners think they have it really bad when it comes to the current real estate market. It seems the majority of the real estate sales today here in San Diego are bank foreclosures.

It's not much comfort, but there are eight other cities that have a more challenging real estate market.

Here are the 10 markets where Forbes magazine says the sales opportunities are the most challenging:

*To read the full post, please visit the San Diego California real estate blog 

Three regions across the nation saw a median home price decline, while the Northeast saw a gain of 4.6 percent. The West saw a 14.7 percent drop in home prices from a year ago. *To view the full post, please visit the San Diego real estate blog