La Jolla Homes for sale & La Jolla Real Estate

LA JOLLA, Calif. -- Sales of La Jolla homes for sale in San Diego County rose by 9.8 percent in December, compared to the same month a year ago, while prices increased by 10 percent, a real estate information service reported Tuesday.

A total of 3,652 homes sold in December, up from 3,325 for December 2008, while the median price of La Jolla homes for sale last month was $330,000, up from $300,000 in the same month a year ago, according to La Jolla- based MDA DataQuick.

According to DataQuick, 22,328 homes were sold in the six-county Southern California region -- Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties -- in December, up 16.4 percent from 19,181 in November and up 12.1 percent from 19,926 in December 2008.

Several forces have pulled the region's media sale price out of its nose dive and given it lift," said John Walsh, MDA DataQuick president. "We've seen the re-selling of La Jolla foreclosures fall off its peak in newer, lower-cost inland areas, while at the same time sales have started to pick up in some of the more established expensive areas."

The median price of La Jolla homes for sale was $289,000 in December, up 1.4 percent from $285,000 in November and up 4 percent from $278,000 in December 2008.

This maybe the time to buy La Jolla homes for sale before house prices rise again....

Reported San Diego Channel 10

LA JOLLA, Calif. -- The number of San Diego County homes slipping toward foreclosure increased by 17.9 percent in the fourth quarter of 2009, compared to the same period in 2008, a real estate information service reported today.

 Lenders sent default notices to 6,536 homeowners in San Diego County in the fourth quarter, up from the previous year's fourth-quarter total of 5,543, according to La Jolla-based MDA DataQuick.

 Statewide, default notices were sent to 84,568 homeowners in the fourth quarter of the year, DataQuick reported. That was a 24.3 percent decrease from the previous quarter's 111,689 notices and up 12.4 percent from the same quarter in 2008, when 75,230 default notices were sent

Clearly, many lenders and servicers have concluded that the traditional foreclosure process isn't necessarily the best way to process market distress, and that losses may be mitigated with so-called short sales or when loan terms are renegotiated with homeowners," said John Walsh, MDA DataQuick president.

 Default notices do not always lead to a home foreclosure, according to DataQuick. Some homeowners emerge from the foreclosure process by bringing their payments current, refinancing or selling the home.

Reported from San Diego Channel 10 News