Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Firm Predicts Second Wave of County Foreclosures

At a time when some local economists are forecasting a bottoming of the housing market, Blue Sky Capital is predicting a second wave of county foreclosures that could be worse than the one a few years back. Blue Sky says mortgages secured with Option ARM and Alt-A funding are about to reset at much higher rates, particularly in Carmel Valley. (Alt-A mortgages are between prime and subprime. Borrowers often have less than full documentation and unimpressive credit scores. Option ARMs are adjustable rate mortgages offering several different payment options.)

A similar controversy rages nationally. Today (July 24) Zillow.com said that national home prices have hit bottom, and 40% of 156 major U.S. markets should enjoy price increases in the next 12 months. But Radar Logic Research said that those calling a bottom "are being dangerously short-sighted."

According to Zillow, San Diego County home values rose 1.7% in the second quarter, less than the 2.1% gain of the largest markets as a group. San Diego values fell 0.1% from a year ago, worse than the 0.2% collective gain of the major markets.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Jazz guitarist Alex Ciavarelli pays tribute to pianist Oscar Peterson

“I had to extract the elements that spoke to me and realize them on my instrument”
Next Article

WAV College Church reminds kids that time is short

College is a formational time for decisions about belief

At a time when some local economists are forecasting a bottoming of the housing market, Blue Sky Capital is predicting a second wave of county foreclosures that could be worse than the one a few years back. Blue Sky says mortgages secured with Option ARM and Alt-A funding are about to reset at much higher rates, particularly in Carmel Valley. (Alt-A mortgages are between prime and subprime. Borrowers often have less than full documentation and unimpressive credit scores. Option ARMs are adjustable rate mortgages offering several different payment options.)

A similar controversy rages nationally. Today (July 24) Zillow.com said that national home prices have hit bottom, and 40% of 156 major U.S. markets should enjoy price increases in the next 12 months. But Radar Logic Research said that those calling a bottom "are being dangerously short-sighted."

According to Zillow, San Diego County home values rose 1.7% in the second quarter, less than the 2.1% gain of the largest markets as a group. San Diego values fell 0.1% from a year ago, worse than the 0.2% collective gain of the major markets.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

March Housing Numbers: Sales Down, Values Up

Next Article

Rising prices drive distress sales from housing market

Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader