23 Apr County real estate tax auction collects nearly $3 million
A San Diego County delinquent property tax auction in March brought in nearly $3 million to county coffers.
The auction block is the last time delinquent property owners can rescue their homes before sold to the highest bidders; a $2 million San Diego home on Neptune Place near Windansea Beach was nearly sold at the auction but was pulled at the last minute when its owners paid the delinquent fines.
The extra income generated during the San Diego homes for sale property tax boom comes as foreclosures in San Diego dip to record lows. San Diego foreclosures peaked at 1,316 in February 2008 during the height of the housing recession and for a long time helped keep the San Diego real estate market afloat.
Not anymore. Foreclosures in San Diego fell 31 percent last year — an eight-year low — as rising home prices in the county have helped San Diego homeowners in trouble sell their homes and avoid foreclosure.