Recent reports show certain areas which have been hit harder than others. Obviously, if you are living on the coast or in other coveted areas you are fine, but if you live in Chula Vista or Escondido, the foreclosure rate, short sales, and increasing number bank-owned properties will have an adverse effect on your home value.
Other neighborhoods hit hard?–El Cajon, Nestor, Mira Mesa, and City Heights. These areas include predomanantly lower income and minority neighborhoods which has been said to be a target for much of the predatory lending.
Apparently the City of San Diego plans on increasing its effort to curve the foreclosure crisis here at home. Read here for more information: http://www.voiceofsandiego.org/articles/2008/11/18/news/02hudgrants111808.txt.
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