Homes

In June of 2011, there are 70,778 households.  Of that, there are 1559 homes for sale. And on top of that, there are 8761 foreclosures.

The average price of homes in the last year have depreciated 15%.  The average estimated value of a home in Chula Vista in June 2011 is  around $300,000, although the median value of homes in the area is $350,000.  The average monthly rent is around $1400.

A lot of people in Chula Vista rent their homes.  A 37% do, which is high compared to other places.  55% of the area own their homes.  There is also 7% of homes which are vacant.

What is so good about a home in Chula Vista, California? There are a lot availiable currently! Especially foreclosures, foreclosures are great because a lot of the time you can find a home that is priced lower than it currently would sell for.

What is a foreclosure? When the person who is paying for the home stops paying their rent, the bank or loaner takes the home back in order for lack of payment and sells the home to make up for the lein. This is done so they don’t loose more money in the home.

Short Sales are also a form of foreclosure.  Right before the home goes up for foreclosure, some owners want to salvage their credit and then they talk to the bank or loan office and work out a plan to put their home up for a short sale, which is so they can sell the home as quick as possible at a lower rate in order to keep their credit from going down.  Sometimes this takes awhile and isn’t possible, but its better than a foreclosure on your credit.