Orange County Distressed Sales Update
It's probably no surprise to most that Orange County home prices had a huge decline in the last few years. At one point, the median fell almost 35% from the high in 2006 of over $627,000 to approximately $415,000 in 2009.
Along with the decline, came a steep rise in the number of distressed sales in Orange County. We have broken down distressed sales in to three distinct categories -
- REOs/foreclosure/bank owned homes - also known as real estate owned
- Short sales - which includes those that are listed as short sales and homes that are in the foreclosure process or have had a notice of default filed
- Other distressed sales - including bankruptcies, probate sales and auctions.
As you will see below, the short sales make up a large percentage of homes that sold in 2010, approximately 42% of all homes that sold in 2010 in Orange County were distressed, and approximately 25% of all homes sold in Orange County in 2010 were short sales.
We have succesfully helped buyers and sellers with short sales and foreclosures. If you have questions about buying or selling in the current Orange County homes market, please give me a call at 714-319-9751.
Numbers are believed to be accurate but are not guaranteed and are per Dataquick and SoCalMLS.
Originally posted at Orange County Homes.
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.
If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes. Click the link if you are interested in buying a home at a courthouse auction sale.
Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
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