SD Foreclosures UP Just a little…


Inquiring minds are wondering when they will see things getting better in the real estate market. Afterall, wasn’t it the annointed one Himself, President Obama 6 months ago saying that we had ‘turned the corner’? Well, I know He is so much smarter than all of us great unwashed…but where’s the improvement? Dataquick’s newest numbers for San Diego show that foreclosures jump 34% in January:

Foreclosures rose to 959 in January from 715 in December, a 34 percent increase, the largest monthly jump since December 2009. Year-over-year, foreclosures fell from 986 in January 2010, or 2.7 percent.

There were 1,548 mortgage defaults in January, up slightly from 1522 in December, or 1.7 percent. Year-over-year, that number is down from 1,741 in January 2010, or 11.1 percent.

DataQuick spokesman Andrew LePage said the monthly jump in foreclosures could partly be due to “a little catch-up” after some banks froze foreclosure activity following discoveries of robo-signing, the practice of approving loan paperwork without proper review.

Anybody else getting the idea that the boy-wonder in the White House is maybe not understanding the issues of the day as well as he needs to?

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