Listings and resources for distressed condo sales in Orange County, CA
There are currently 25 blog entries related to this category.
Friday, November 30th, 2012 at 11:23am. 127 Views, 0 Comments.
Just as the real estate market depends upon the neighborhood, the price range is an extremely important factor too.
Three Distinct Markets: Every price range has dramatically improved in the past year, but some ranges are hotter than others.
Let’s start with the hottest price range and the most hype, homes below $750,000. Of course the hype is well deserved. Homes below $750,000 account for 57% of current active listing inventory, an astounding 82% of demand, and an expected market time of just 24 days. That means that homes priced above the range account for 43% of the listing inventory and only 18% of demand. So, it is safe to say that the lower price ranges are on fire. These are the ranges where they are selling…
Thursday, September 20th, 2012 at 5:30pm. 149 Views, 0 Comments.
The Orange County housing market is changing. Recent report by Steven Thomas reported that only 8% of closed sales are foreclosres with an average sales price of 103% of list price. At it's height it was as high as 44%. In August, 68% of the sales were standard equity sales. In 2009 it was the reverse with almost 63% of all sales being foreclosure or short sales. Inverntory accross Orange County has dropped to another record low of 4,676; last year at this time there were 10,556 homes for sale.
He reports it is no longer a buyer's market. It seems that this is the time for buyer's to make their move with interest rates under 4%, prices having dropped/stablized and before it starts changing to more of a Seller's market.
Thursday, August 23rd, 2012 at 7:35pm. 134 Views, 0 Comments.
As reported by Jon Lansner, OC real estate news from the OC Register - The California Association of REALTORS has reported a 4 year high on OC Real Estate prices. This matches what we are seeing in the market .. The trends that we are seeing in the market for OC Condos are as follows:
1) 2/3 of the OC Condo Listings are under contract!
2) Much of the condos under contract are distressed sales
3) Active OC Condo inventory is mostly higher end and more on the luxury side ..
For more details - read in more detail in Jon's column! http://lansner.ocregister.com/2012/08/20/california-home-sales-near-4-year-high/165628/
Tuesday, August 14th, 2012 at 1:13pm. 275 Views, 0 Comments.
If you are faced with Short Selling your property, you must act quick! The state bill that protects the seller from a deficiency judgment expires on 12/31/2012.
What that means to you? Since the short sale process can be quite lengthy, you will want to get your home on the market immediately so you can start the short sale process. In order to be protected under SB 931 you will need to compete this process by the end of the year.
Monday, March 14th, 2011 at 1:29pm. 246 Views, 0 Comments.
Often people considering investing in real estate weigh the option of cash vs. mortgage. There are some great deals in today’s market and often offering a cash deal can make a deal even sweeter. When cash is involved there is no mortgage, therefore no chance of a financial contingency getting in the way of closing. Cash is king, but is cash the best avenue for you and your real estate transaction?
Cash is great for:
- negotiating power
- negating a financing contingency speeding up a closing date
- eliminating a monthly loan payment
BUT cash has its downside as well, a cash deal:
- ties up assets
- eliminates a mortgage interest tax deduction
Buying a property with cash to get the best deal possible could be a smart move,…
Friday, March 4th, 2011 at 1:55pm. 179 Views, 0 Comments.
Combating high property taxes is something people should be aware of in a time when condo values have dropped significantly. It can be a puzzling question to many homeowners, if my condo’s value has dropped 25% why have my property taxes not decreased by the same amount? Your property tax bill can be adjusted if you make an effort to challenge it.
The first step is to take a good look at your property tax bill. This year’s assessment and last year’s assessment should be listed, as well as a breakdown of how your taxes are allocated and added up. You should have a good idea of the value of your property and whether or not you have been assessed properly. A good next step is to approach your Assessor’s Office.
Friday, February 11th, 2011 at 2:15pm. 149 Views, 0 Comments.
Short sale frustrations could easily be the reason so many condos head to foreclosure. The lengthy time frame to complete a short sale, combined with hanging in the balance waiting for the mercy of the lender is wearing to say the least. A short sale can be a great way to avoid foreclosure and save a credit rating but it often takes thick skin and a whole lot of patience.
One of the most frustrating things about a short sale is the fact that if the condo were already foreclosed upon it could be sold immediately, possibly for less than it would sell for a short sale price, so why won’t the bank simply agree to a short sale? Either way the bank is losing money, why go through the foreclosure process if the condo could be sold as a short sale?…
Monday, February 7th, 2011 at 12:46pm. 140 Views, 0 Comments.
Recent headlines tout the message loud and clear, plenty more foreclosures are on the horizon. For many condo owners the message is a scary one, one that they never expected to face on the day that they moved into their condo. Do not let fear sideline you. Foreclosures do not happen overnight, they take time and plenty of it. In New York, condos in the foreclosure process have mortgage loans that have been delinquent for an average of 600 days, Florida an average of over 500 days, California over 450 days. In other words, in many states it takes well over a year of delinquency before foreclosure occurs.
The lengthy process of foreclosure allows a condo owner a lot of time to avoid foreclosure. The two best avenues to take are loan…
Tuesday, November 30th, 2010 at 2:27pm. 139 Views, 1 Comments.
There are many things to think about when selling your condo during the holiday season. It is hard to believe that the holiday season is upon us. The day after Thanksgiving marks shopping, with waves of holiday shopping specials, sales and more. The day after Thanksgiving also marks a time when many people begin the search for the perfect Christmas tree. When decorating your condo and preparing it for the holidays there are a few tips to remember that will keep it safe and help avoid any holiday pitfalls.
When using lighting for holiday decorating remember that strings of lights are designated indoor or outdoor and should be used as indicated. In addition no more than three strands of lights should be used per extension cord. Try to keep your…
Tuesday, November 16th, 2010 at 3:51pm. 146 Views, 0 Comments.
News of recovery, historically low mortgage rates and the overall feeling that the bottom is here or near, have many people wondering if now might be the ideal time to buy a first condo, trade up to a bigger condo, or simply invest in more real estate. Let’s face it, affordability is here when it comes to real estate. For those who have a steady source of income and have the cash or the ability to acquire a mortgage, there couldn’t be a better time to buy a condo.
What are the benefits of investing in real estate? First of all when investing in anything the best return is made when the original purchase it at, or near, its lowest value. Buying a condo in today’s conditions allows for more equity to be built over the long term…