The sale of homes in the cities around Lakeshore Gardens effects the prices that buyers can pay here. The banks mishandling of the foreclosure crisis has made many of the sales of homes around us as distressed sales. Short Sales, Foreclosures and Flips accounted for 73% of the homes sold in Oceanside the week of February 13 to 19.
There were 26 homes sold last week in Oceanside. Only 7 were regular sales. 9 were short sales, 9 where REO sales, and one was a flip. The short sales and REO sales sellers do not purchase another house so the cycle stops. This is causing our prices to drop for all homes – stick built and manufactured homes.