La Jolla Short Sale Report
La Jolla CA 92037
The upscale San Diego community of La Jolla may be one of the new homes of Republican candidate Mitt Romney but it is not exempt from the bank short sale process. La Jolla short sale specialist Gary Kent 858-457-5368 reports that according to the San Diego MLS system, for the first eight months of 2012 there were a total of 45 homes that were short sales in the La Jolla zip code of 92037.
A short sale occurs when a homeowner owes more than the market value on their home and hires a short sale expert to sell it for them. According to Gary Kent, this is when the real work starts. “We’ve closed over 220 bank short sales and we know that Bank of America, Chase, Wells Fargo and Citi bank each have their own short sale process. We start by determining the value of their La Jolla home. Then we work with the home owner to accumulate the various financial documents that the short sale lender will require. Then we actively market their La Jolla home to find a well-qualified (and patient) home buyer.
The short sale process after the offer has been accepted is the toughest part and that requires constant attention to the details of a normal escrow while adding the complexities of negotiating with one or more bank short sale departments.”
Here are some of the key statistics for La Jolla short sales from January 1 to August 3 2012.*
Total La Jolla Short Sales 45 La Jolla Homes (SFR) 22 Condos (Attached) 23
Highest Price: $2,290,000 6 bedroom / 6 bath 5,319 s.f. SFR home
Lowest Price $170,000 1 bedroom / 1 bath 623 s.f. condo
Average $829,456
Median $717,500
La Jolla Short Sale Report
If you are a La Jolla home owner and need to learn more about the short sale process, Gary Kent has written a free informative short sale guide or just call Gary Kent at 858-457-5368 to discuss the short sale process. To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Team 858-457-5368 of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.
by Gary Kent. Gary has successfully helped well over 220 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and Google+.
*Source of Data and Photo – SANDICOR
Original Blog Post: http://shortorstaysandiego.com/la-jolla-short-sale-report-la-jolla-ca-92037/