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San Diego property auction goes online

Posted by The Aramco Group on Mon, Apr 10, 2017 @ 14:04 PM

The San Diego County Treasurer-Tax Collector's annual property tax sale auction will take place later this Spring but with a new twist. For the first time this year the auction will be online, the Treasurer-Tax Collector Dan McAllister announced last week.

"With this new system, people sitting at home can browse and bid on more that 1,600 properties currently available, including timeshares starting at $900," McAllister said. "Moving this tax sale online with cut our operation costs compared to a live auction."

McAllister also added that sales may increase with the new format that allows those outside of the San Diego region to bid.

The annual auction is a sell off of tax-defaulted properties in the County. Owners of the for-sale properties have until May 4 to pay outstanding taxes and fees. Otherwise, the online auction will take place May 5 to 10.

Meanwhile, conforming no-point 30-year fixed mortgage rates averaging 4.125 percent while 15-year rates are near 3.25 percent.

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