While it’s certainly possible to find properties selling for 50% of their fixed-up value, most people will find it easier, and more efficient, to focus on properties selling in the 65% to 80% of value range. Some of the value seasoned investors seek when buying these homes can come from the normal terms of the San Diego mortgage, such as very old loans that have been paid upon for many years. Some can come from price appreciation in a “seller’s market” where homes are appreciating rapidly in price. Some can come from the lender not wanting to deal with the property due to damage or necessary repairs, where the lender will accept less than they are owed on the San Diego foreclosure properties.

But even if San Diego foreclosure properties are being sold at bargain prices don’t forget to do the basic research that you would do before buying any property. - Check out if the prices being offered are in line with market prices. - What’s going prices for properties in the neighborhood? - And most important get the property inspected as many foreclosed properties are poorly maintained.

According to expert investors in San Diego foreclosure properties the best foreclosure deals usually go to those who have friends in the foreclosure department of a local bank. When someone defaults thrice in repayment of the San Diego mortgage, the banks will initiate proceedings. Banks view foreclosed properties as liabilities and are eager to sell them, sometimes even at a discount. Those that are not snapped up from the bank directly are usually sold out with in days of being listed with real estate agents.