SAN DIEGO — With soaring home prices out of reach for so many home buyers, some people are turning to county auctions to find bargain properties.
Every year, the county auctions off properties that are in default for unpaid taxes, and this year, there are 421 properties for sale.
These include more than 50 residential and commercial properties, 300 timeshares, and 70 undeveloped parcels of land.
“Now is the time you should start looking around for deals that might be there,” said Dan McAllister, Tax Collector for San Diego County. “There are some good values and good bargains, but you have to hunt for them, you have to look at them, and you have to do it with a knowledgeable eye.”
All the listed properties are being sold because they’ve been in default with unpaid taxes for over five years.
“You know, maybe they’re run down a little bit because they didn’t pay the taxes, they’re just not there, and this gives somebody else a chance to get in there and mow the lawn and paint the house,” said McAllister. “Some people get divorced, some people lose a spouse, some people willed it to their children and the children didn’t pay the taxes.”
If all 421 properties are sold for at least their minimum bids, the county would bring in nearly $5 million dollars to its general fund.
McAllister warns bidders to do their research ahead of time.
“Buyer beware, it’s very important to look at those things with a microscope to make sure that what you see is what you’re going to get if you’re successful,” said McAllister.
Bidding starts March 10 and runs through March 15, though you can register ahead of time and start browsing properties now.
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