December 2008 
There are 3 blog entries for December 2008.
Bank Owned and Pre-Foreclosure Home Inventory in OC Falls
Monday, December 29th, 2008 at 3:11pm. 104 Views, 0 Comments.
Sales of distressed homes in Orange County currently represents about 50% of all transactions, but the distressed inventory (homes on the market) has been slowly dropping for several months.
The Orange County Register quotes Steve Thomas of Altera Real Estate in his latest market report that
"The distressed inventory peaked in July at 5,950 homes, 41% of the active inventory. Since then, the number of distressed properties hit a plateau and have slowly diminished in recent weeks. Currently there are 5,379 distressed properties on the market, dropping 7.1% in the past month and representing 46% of the active inventory."
Of course, this also means that TOTAL inventory has also dropped, but that's a good sign too. Another positive…
Interest Rates at a 40 Year Low
Tuesday, December 23rd, 2008 at 1:00pm. 97 Views, 0 Comments.
Check out Paul's blog on the recent rate reduction and it's impact on the Orange County real estate market.
Curious about how these rates would translate into a monthly payment for you? Use one of our home search pages to identify a home, click on "Details", then "Mortgage Calculator". You'll need to register if you haven't already, but you can then save searches, save favorite homes, and more.
Orange County REO Update
Saturday, December 6th, 2008 at 12:53pm. 347 Views, 0 Comments.
We’ve been saying that the Bank Owned market is the fastest moving segment of today’s Orange County Real Estate market. Bank Owned homes can be found for sale in every city throughout Orange County and often represent some of the best bargains on the market. Recently though, there's been a decrease in the number of new REO homes for sale in the Orange County Multiple Listing Service (MLS) despite the reports in the media that foreclosure rates are increasing. Here’s what’s going on.
According to a recent newsletter published by the National REO Brokers’ Association – a nation-wide organization of REO listing agents – there are holdbacks on REO properties across every market in the country. These holdbacks are the result of the strangest and most…
