by Vincent Bindi on July 9, 2008
Price (subject to change): $417,900
Type: Detached SFR
Bedrooms: 3
Baths: 2
Living Area (SqFt): 1,300
No. of Garages: 2
Stories: 1
Year Built: 1971
Lot Size (SqFt): 7,400
City: Mission Viejo
Area: Mission Viejo Central
Tract: El Dorado
Street: Via Zaragosa
School District: Saddleback Valley Unified
Property Description: Great price for this single family detached home located in the desirable central Mission Viejo neighborhood of El Dorado. Great neighborhood and ready to move in. Nice open floor plan with fireplace in living room. French doors off of eating area by Kitchen. Large and private backyard. Includes membership in Lake Mission Viejo. The Bank Owned Foreclosure home will not last long at this price
Financing: This home can be purchase with any Conventional Loan and the new and improved FHA loan which offers 3% down payment financing, and low fixed interest rates.
Contact: To view this Bank Foreclosed home, feel free to Call Us at: 949-388-3396, or email us at: Info@SearchOCHomes.com , or Text Message at: 949-283-4679. We’re easy to talk too. Let us negotiate a great price for you on this REO Foreclosure property for sale in Orange County. Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at: www.OCBargainHomes.com
by Vincent Bindi on June 2, 2008
Today, foreclosed REO homes and Pre-Foreclosure (Short Sales) make up a large percentage of the Listings and Sales in Orange County, CA. This severe market correction started in the summer of 2006′, and probably has 6 to 12 more months to go. Currently, there are 15,046 homes and condos Active for sale (Listed in the MLS). Of this total, 29.5% are Short Sales and 6.3% are bank owned REO’s. This represents a total of 35.8% of all inventory is a financially distressed property on the market for sale. Below is a table showing these results as well as how these percentages of distressed listings range from City to City.
As can be seen in the table below, this market correction is affecting the lower priced markets much more severely then the highest priced markets. For example, 64% of Santa Ana’s inventory of homes for sale are either foreclosed REO’s or Short Sales. While only 4.4% of the inventory or properties for sale in Laguna Beach, CA are bank owned REO’s or Short Sales.
Properties Active for Sale
| City | Listings | Short Sales | Short Sale % | REO | REO % | % Total Distressed |
| Anaheim | 1207 | 615 | 51.0% | 157 | 13.0% | 64.0% |
| Huntington Beach | 699 | 121 | 17.3% | 18 | 2.6% | 19.9% |
| Laguna Beach | 343 | 12 | 3.5% | 3 | 0.9% | 4.4% |
| Mission Viejo | 448 | 159 | 35.5% | 28 | 6.3% | 41.7% |
| Orange | 667 | 211 | 31.6% | 53 | 7.9% | 39.6% |
| Rancho SM | 367 | 131 | 35.7% | 28 | 7.6% | 43.3% |
| San Clemente | 528 | 88 | 16.7% | 15 | 2.8% | 19.5% |
| Santa Ana | 1595 | 815 | 51.1% | 207 | 13.0% | 64.1% |
| Yorba Linda | 426 | 67 | 15.7% | 14 | 3.3% | 19.0% |
| Orange County | 15046 | 4432 | 29.5% | 951 | 6.3% | 35.8% |
Looking at the number of properties sold in the past 90 days reveals some other interesting facts. There are 951 Bank Owned REO properties currently on the market for sale, and 986 REO’s sold and closed escrow in the past 90 days. This results in just 2.9 Months of Inventory which is a Sellers Market ! For those of us working in the field, this chives with experience in which many REO listings are selling rapidly and many with multiple offers. The other interesting fact to not is that there are 4,432 short sales actively listed for sale, but only 556 closed in the past 90 days. This represents 24 Months of Inventory. What is actually going on here is that the Short Sales are actually selling at a much higher rate, but these sales have a high failure rate for many inexperienced Listing Agents are having hard time getting them approved by the Banks in order to close. The moral of this story is that if you are interested in purchasing a Short Sale, make sure you are working with an experienced agent who has a track record of success with these types of purchases.
by Vincent Bindi on May 30, 2008
Today in Lake Forest, CA. their are currently 444 homes nd condos actively listed for sale. Of these, 214 (48%) are attached Condos, and 230 (52%) are detached Single Family Residences.
Of these 444 properties listed for sale, 188 are Short Sales which represent 42% of the total inventory. Also, 45 of the homes and condos active for sale are Bank Owned foreclosures which represent 10% of the total inventory. The total number of distressed properties is 203, which represents 46% of total inventory.
Currently, there are 167 properties that are under contract and pending in escrow in Lake Forest, California. Of this total, 40 properties are short sales, which represent 23% of the pending properties. In addition, there are 62 Bank Owned foreclosure homes and condos under contract in escrow, which represent 37%. The total number of distressed properties pending in Escrow is 102, which represents 61% of the total pending properties.
For the month of April, there were 74 properties that sold and closed escrow in Lake Forest, Calif. Of these, 10 properties where short sales that sold that month, which represent 13.5% of the total sales. In addition, 24 sales were Bank Owned foreclosures (REO) which closed escrow in the month of April in Lake Forest, which represent 32% of the total sales. The total distressed sales were 34, which represents 46% of the total sales.
by Vincent Bindi on May 29, 2008
Currently, there are 461 properties Active for sale in Mission Viejo, Ca. Of these, 150 are attached Condominiums, and the remaining 311 active listings are detached single family homes. There are a total of 175 homes and condos currently in escrow which represents approximately a current reading of 4 months of inventory. In addition, there were 83 properties that sold and closed escrow in the month of April, which equates to about 5.5 months of inventory from sales that occurred about 2 months ago. The market is definitely improving for the months of inventory for most of last year in Mission Viejo was much higher at about the 10 month range.
Of these 461 properties listed for sale in Mission Viejo, CA, 164 are short sales which represent 35.5% of the total inventory of listings. Also, 37 of the active listings are Bank Owned foreclosures (REO) which represents about 8% of the total inventory. The total number of financially distressed listings is 201 which is 43% of the total inventory of properties listed for sale.
Currently, of the 175 total properties pending in Escrow in Mission Viejo, 49 of these homes and condos are short sales. This represents about 28% of the inventory of properties under contract in escrow. In addition, there are 31 properties pending in escrow that are bank owned foreclosures, which represents about 21% of the total pending properties. The total of financially distressed homes and condos currently under contract in escrow in Mission Viejo is 45%.
For the month of April, there were a total of 83 homes and condos that sold and closed escrow in Mission Viejo, CA. Of this total, there were 6 short sale properties that closed, which represents 7% of the total closings. In addition, there are 15 bank owned foreclosure properties that sold and closed in April which represent 18% of the total sales for that month. The total number of financially distressed properties that sold in April was 21 which represents 25%.
To learn more about short sales and bank owned foreclosures, or to receive a proprietary list of all short sale and bank REO properties listed for sale, visit our website at OCBargainHomes.com, or drop us an email at: Info@OCBargainHomes.com
by Vincent Bindi on May 27, 2008
Currently there are 840 Active properties listed for sale in Irvine, CA., of which 414 are attached Condos, and 426 are detached single family homes. Of these 840 homes and condos for sale, 152 are Short Sales listed for sale, which represents 18% of the total inventory. 11 of these properties Active for sale are Bank Owner Foreclosures which represent just 1.3% of the total inventory of homes and condos for sale in Irvine, Ca.
Today, there are 245 properties that are under contract pending in escrow in Irvine, CA. Of this total, there are 58 Short Sales properties that are pending in escrow, which represents 23.6% of the total number of properties in escrow. In addition, there are 19 Bank Owned Foreclosures that are pending in escrow in Irvine, which represents 7.7% of the total pending properties.
For the past month of April, there were 146 homes and condos that sold and closed escrow in Irvine, CA. Of this total, there were 14 Short Sale properties that sold, which is 9.5% of the total volume of sales for April. Finally, there were 16 homes and condos that sold in the past month that were Bank Owned foreclosures, which represents 10.9% of all properties sold in April in Irvine, Ca.
For more information regarding Bank Owned foreclosure properties, or short sale properties listed for sale, please call us at: 949-388-3396.
by Vincent Bindi on May 25, 2008
Currently, there are 293 homes and condos Active for Sale in Aliso Viejo, CA. 170 of which are Attached Condos and the other 123 are Detached Single Family Homes. Of these 293 properties, 116 of these are Short Sale homes or condos listed for sale, which represents 39% of the Inventory. In addition, there are 16 homes and condos listed for sale which are Bank owned REO properties in Aliso Viejo, which represents 5.5% of total inventory.
Today, there are 110 properties in Pending in Escrow in Aliso Viejo, CA. Of these properties, 37 are Short Sale listings under contract which represents 33% of the properties in Escrow. 15 of these escrows are Bank Owned Foreclosures which represent 13.6% of the properties currently in escrow in Aliso Viejo.
For the month of April, there were 56 properties that sold and closed escrow in Aliso Viejo, CA. 7 of these closed properties were Short Sales which represent 12% of all closings for last month. 14 of the homes and condos that sold and closed in April where Bank Owned foreclosure homes, which represent 25% of all closings for last month.
If you are interested in receiving a VIP list of all Bank Owned Foreclosures, and Short Sale properties listed for sale, please visit our website at: OCBargainHomes.com. If you have any questions about Bank Owned REO or short Sale Properties, please feel free to call us at: 949-388-3396.
by Vincent Bindi on April 30, 2008
Currently there are 288 homes and condos listed for sale in Dana Point. Of these properties, only 18 are Short Sale homes and condos, and 12 Bank owned REO properties listed for sale in Dana Point, CA. This represents 10% of the available inventory are distressed properties for sale. For sold homes in the month of April, there were 35 properties that sold and closed escrow in the past month. Of these 35 sold properties, 4 were Bank Owned REO transactions, and 1 was a Short Pay property. This represents 14% of the transactions in the month of April were distressed properties.
If you would like more information about homes and condos for sale in Dana Point, CA., please visit our website at: Dana Point Real Estate. If you would like more information about short sale or Bank Owned REO properties, visit our OCBargainHomes.com website by clicking on the link at the top left of this blog.
by Vincent Bindi on January 16, 2008
Price (subject to change): $279,900
Type: Attached Condo
Bedrooms: 2
Baths: 1
Living Area (SqFt): 850
No. of Garages: 1
Stories: 1
Year Built: 1971
Lot Size (SqFt): 1,830
City: Stanton
Tract: Bradford Place
Street: Emerson Way
School District: Anaheim Union High School District
Property Description: Bright and spacious 2 bedroom 1 bath condo. Enclosed patio leads to 2 car garage. No condos above or below. Ceramic tile floors. Association pool. Bath has been remodeled. Well maintained complex and conveniently located to shopping and schools. Located in the award winning Anaheim Union High School District!
Financing: Conventional financing with 10% or 20% down is available. Interest rates have recently dropped to 6.6% with No Points for Jumbo loans greater then $417,000.
Contact: To view this foreclosure home, feel free to Call Us at: 949-388-3396, or email us at: Info@SearchOCHomes.com , or Text Message at: 949-283-4679. We’re easy to talk too. Let us negotiate a great price for you on this foreclosure property for sale in Orange County. Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at: www.OCBargainHomes.com
by Vincent Bindi on January 16, 2008
Price (subject to change): $498,000
Type: Detached SFR
Bedrooms: 3
Baths: 1.5
Living Area (SqFt): 1,210
No. of Garages: 2
Stories: 2
Year Built: 1973
Lot Size (SqFt): 2,205
City: San Juan Capistrano
Area: Del Obispo
Tract: Harbor Lane
Street: Paseo Miraflores
School District: Capistrano Unified
Property Description: Remodeled detached home in Harbor Lane Community. Only 1.5 miles from Doheny Beach and Dana Point Harbor, Bike Trails and Community Parks, Shopping and Schools are all close by. many upgrades include recessed lighting, granite countertops, travertine and granite flooring, open kitchen w/island, upgraded cabinets and stainless steel appliances, breakfast nook, upgraded bathrooms, storage cabinets in garage, and organizers in closets.
Financing: Conventional financing with 10% or 20% down is available. Interest rates have recently dropped to 6.6% with No Points for Jumbo loans greater then $417,000.
Contact: To view this bank owned REO home, feel free to Call Us at: 949-388-3396, or email us at: Info@SearchOCHomes.com , or Text Message at: 949-283-4679. We’re easy to talk too. Let us negotiate a great price for you on this bank owned REO property for sale in Orange County. Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at: www.OCBargainHomes.com
by Vincent Bindi on January 16, 2008
Price (subject to change): $1,139,000
Type: Detached SFR
Bedrooms: 5
Baths: 4.5
Living Area (SqFt): 3,783
No. of Garages: 2
Stories: 2
Year Built: 2004
Lot Size (SqFt): 7,588
City: San Clemente
Area: Forster Ranch
Tract: Reserve East
Street: Camino Oleada.
School District: Capistrano Unified
Property Description: 2 story 5 bedroom, 4 1/2 bath home in Reserve East development. 2 car garage and 2 fireplaces. Hardwood floors throughout and extensive use of granite, stone wainscotting in bathrooms, ans central vacuum system. Backyards includes built-in BBQ. Community pool and spa. Beautiful concrete tile roof. Located in the award winning Capistrano Unified School District. Close to shopping areas, parks, and schools. Don’t miss out on the beautiful, large, family home!
Financing: Conventional financing with 10% or 20% down is available. Interest rates have recently dropped to 6.6% with No Points for Jumbo loans greater then $417,000.
Contact: To view this foreclosure home, feel free to Call Us at: 949-388-3396, or email us at: Info@SearchOCHomes.com , or Text Message at: 949-283-4679. We’re easy to talk too. Let us negotiate a great price for you on this foreclosure property for sale in Orange County. Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at: www.OCBargainHomes.com
Short Sale Information,