Attention Orange County home buyers! Market update! Very important!

What’s hot right now with Short Sale homes for sale in Orange County is for competing buyers to be asked for their highest and best offer - then the higest of the high and bestest of the best offer will be submitted to the bank - IF the buyer agrees to come up with a deposit and open escrow while waiting for a response from the bank(s). Some listing agents in today’s Orange County fast moving (yes, you read it here - FAST MOVING) Real Esate market are even stipulating that the deposit cannot be refunded for 30 days - in order to tie the buyer down and stop him/her/them from continuing to put in offers on other homes. Hmm. What do you think about all of this?

Will this…

It’s a Seller’s Market in Orange County Real Estate

Tuesday, May 26th, 2009 at 12:06pm. 64 Views, 1 Comments.

Multiple Offers are the New Normal on Orange County California Homes for Sale Today

When you have 38 offers on a home for sale in Orange County within 4 days, you know the winds have shifted. 8 offers on another home for sale in Ladera Ranch. 5 offers in on Short Sale Mission Viejo home for sale. 5 offers on a single family detached home for sale in Mission Viejo. Short Sales in Laguna Niguel with 5 offers, half over asking price. 3 offers in on a Short Sale in Irvine. 9 offers on an REO in Garden Grove. And the list goes on and on.

Guess what? There are many, many other capable, qualified buyers out there looking for exactly the same home you are looking for. So you tell me who controls today’s Orange County California Real…

Price Reduced on Casta del Sol Single-Story

Saturday, May 16th, 2009 at 7:34pm. 73 Views, 1 Comments.

Fell out of escrow - time to cut the price!

This 2-bed 2-bath single-story home in the gate-guarded 55+ community of Casta del Sol in Mission Viejo will make someone happy at this price! Check out our Featured Listings page for the details, or click the image below for a virtual tour.

Coto Monthly Activity for April 2009

Friday, May 15th, 2009 at 8:07pm. 98 Views, 0 Comments.

Coto de Caza Real Estate Activity for April 2009

There are currently 153 homes actively listed for sale in Coto de Caza, with asking prices ranging from $395,000 for a 2-bed 2-bath 1,400 square foot condo to $22,000,000 for a 16,000 square foot custom Los Ranchos Estate.

37 homes came on the market during the month at an average list price of $388 per square foot, although 4 have since cancelled or expired.

23 homes came off the market pending sale. The average list price per square foot at the time they were "pended" was $279, a reduction from the $304 per square foot of the original listing.

15 homes were sold. The average time on the market for homes sold this month was 141 days. The average sale price per square foot for homes sold was $280,…

Help Coming On Short Sale Woes?

Friday, May 15th, 2009 at 5:55pm. 83 Views, 0 Comments.

The US Department of the Treasury announced yesterday new details about its "Foreclosure Alternatives Program", which is part of the "Making Homes Affortable" program. Short Sales make up about one-third of the homes currently listed for sale in Orange County, and have been a source of frustration for lenders, sellers and buyers because of the lack of any standardized process for handling a short sale transaction. A typical Short Sale can take up to 3 months or more to complete once an offer has been made on the home, and this can often be a problem when the foreclosure is happening at the same time.

The purpose of the Foreclosure Alternatives Program is to streamline the Short Sale process by providing a standardized process flow, establishing…

May 2009

New Trends in Today’s Wild Wild West in Orange County Real Estate