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Rancho Santa Margarita Real Estate the Hardest to Buy in OC?

Posted by Leslie Eskildsen on Tuesday, January 12th, 2010 at 8:17pm.

The Orange County Register reports that, according to local broker Steve Thomas of Altera Real Estate, the number of Rancho Santa Margarita homes for sale is lower than any other city in the county compared to the number of new purchase deals under contract in the last month.

Rancho Santa Margarita Home Inventory is Down

 

 The Numbers

Here's a recap of some of the number covered in the video:

 

  Current Listings 3 Month Sales or In Escrow
Number of Homes 163 439
Short Sales 59% 61%
Standard Sales 36% 26%
NOD 3% 1%
REO 2% 12%

 

Bank Owned homes for sale have become rare, and Short Sales make up almost two-thirds of the market.  Even so the number of homes sold is very high compared to what is still left on the market.

 

What Does It Mean for You?

If you are a buyer looking for a home in Rancho Santa Margarita, it means you're facing some competition.  You need a Realtor who is on top of the market, can ensure that you know about new listings right away so your offer is first, and can help you put together a great offer package that put you in the best possible position and set you apart from everyone else.

If you are a home owner that needs or wants to sell for any reason - whether it be because you're moving out of the area or having trouble making mortgage payments, this is your market.  Of course prices are down significantly from 2 or 3 years ago, but if you have equity you can leverage it to purchase a new home at current prices wherever you move.  If you are in distress, the good news is that your home should attract lots of buyers if you decide to sell.

 

 

 

 

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