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Mission Viejo Short Sale Real Estate

Mission Viejo Short Sale Real Estate report.

by vbindi on February 3, 2012

The following report is for standard sales and short sales in Mission Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property sales in Orange County. Currently, there are a total of 158 detached homes listed for sale in Mission Viejo , California. The median price of these active homes for sale is $549,000 and the average price per square foot is $268 . Of this total, 46 are short sale listings active for sale. These short sale listings represent 29% of the total inventory of detached homes for sale. The median price of these short sale properties is $499,000 and the average price per square foot is $249 .

Currently, there are 160 detached homes under contract in escrow, and the median price of these pending properties is $454,000 . Of this total pending properties, 102 are short sales, which is 64% of the total detached properties in escrow in Mission Viejo . The median price is $440,000 .

In the past 90 days, there have been a total of 166 detached homes that have sold and closed escrow in Mission Viejo . The median price of these sold homes was $489,000 and the average price per square foot was $245 . Of this total were 48 short sale properties, which was 29% of the total sales. The median price was $459,000 , and the average price per square foot was $224 .

For more information about short sale homes and condos, please visit our website at: Mission Viejo Short Sale Real Estate. To speak with a Short Sale professional, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Mission Viejo Short Sale Real Estate report.

by vbindi on December 20, 2011

This report is for standard sales and short sales in Mission Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property sales in Orange County. Currently, there are a total of 170 detached homes listed for sale in Mission Viejo , California. The median price of these active homes for sale is $525,000 and the average price per square foot is $269 . Of this total, 57 are short sale listings active for sale. These short sale listings represent 34% of the total inventory of detached homes for sale. The median price of these short sale properties is $450,000 and the average price per square foot is $250 .

For attached condominiums, there are 92 condo units currently listed for sale in Mission Viejo . The median price for these listed condominiums is $272,000 and the average price per square foot is $219 . Of this total, 44 are short sale condo listings. The median price of these short sale condos is $249,000 , and the average price per square foot is $206 . The ratio of short sale condo listings to listings is 48% .

Currently, there are 167 detached homes under contract in escrow, and the median price of these pending properties is $459,000 . Of this total pending properties, 107 are short sales, which is 64% of the total detached properties in escrow in Mission Viejo . The median price is $435,000 .

For condominiums, there are now 84 attached units in escrow, and the median price is $264,900 . Of this number, 54 are short sales in escrow in Mission Viejo . These short sale condos are 64% of the total units in escrow, and the median price is $240,000 .

In the past 90 days, there have been a total of 176 detached homes that have sold and closed escrow in Mission Viejo . The median price of these sold homes was $485,000 and the average price per square foot was $250 . Of this total were 43 short sale properties, which was 24% of the total sales. The median price was $508,000 , and the average price per square foot was $227 .

For attached condos, there have been a total of 79 condominium sales in the past 3 months. The median price was $260,000 , and the average price per square foot was $218 in Mission Viejo . In addition, there were 19 short sale condos that sold and closed escrow during this same period of time, which was 24% of the total number of units sold. The median price of the sold short sale condos was $210,700 , and the average price per square foot was $190 .

For more information about short sale homes and condos, please visit our website at: Mission Viejo Short Sale Properties. To speak with a Short Sale professional, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Mission Viejo Short Sale Experts – Case Study #87

by vbindi on March 22, 2009

This detached home was located in the Cordova south tract in Mission Viejo, and was sold via a Short Sale by the ShortSaleASAP team.  It was originally purchased by the homeowner in July 2006′ for $620,000 with a 10% down loan. The property had 2 mortgage loans (80% and 10%) both with adjustable rate mortgage loans with a total outstanding balance of $550,000. Due to the severe financial and real estate recession that has plagued southern California, and specifically Mission Viejo, this home has dropped in value by more then 35% since it was purchase in 2006′. This Mission Viejo home was upside down by about $150,000. The homeowner had a financial hardship and was having trouble keeping up with their mortgage payments.

The homeowners looked into a Loan Modification and had pre-qualified for one. But the reduction in payments was not enough to solve their issues, plus the loan modification did not address the fact that the home had loan debts of more then $150,000 above what the home was worth. They contacted us in July of 2008′ to learn about the Short Sale option, and selected us to conduct the short sale.

This Mission Viejo home was initially put in our Short Sale Preparation Phase in which we gather the documents from the homeowner and contact the banks to establish and present our short sale case. This Preparation Phase took about 6 weeks to complete, and during that time the homeowner lived in the property as usual with no interruptions from other agents or prospective home buyers.

Then the Short Sale Marketing-Sales Phase began in which we placed the property on the market in the Multiple Listing Service (MLS) at a price of $425,000. After a period of about 2 weeks, we made a small drop in the price, and we obtained a buyer. After several back and forth negotiations, we arrived at a purchase price of $405,000. This Phase took 4 weeks to complete.

At this point, the Short Sale Bank Negotiations Phase began. Here we packaged the purchase offer from the Buyer,  required Short Sale disclosures, along with the Buyers loan qualification documents. We submit the updated package to the 1st and 2nd mortgage banks, to conduct the final short sale negotiations. After many heated discussions with our expert negotiation staff, our attorney and the bank officials, we got both the 1st and 2nd Mortgage Banks to agree to the short sale offer.  Once we received the bank short sale approval letters, we moved forward with the buyers closing through escrow.  The last Phase was completed in about 5 weeks.

The result was that the entire debt on the home was removed from the homeowner.   The homeowner was able to live in thier home during this short sale process and did not make any payments.  They were also able to rent  a comparable home for substantially less then what their payments used to be.   In addition, the homeowners credit is not as damaged as it would have been if the banks had foreclosed.  They are now working with our credit restoration affiliate and their credit rating should be repaired to a level where they can once again buy a Mission Viejo home in 10 months from now, and they will be $150,000 ahead in equity.

If you have any questions regarding Short Sales, contact our expert team at:  (949) 388-3396 or drop us an email at:  Info@ShortSalesASAP.com

Mission Viejo Short Sales and Bank Foreclosure Sales Stats – April 08′

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

Short Sale – Mission Viejo, CA – 4Br, 3Ba, Home – Large Price Reduction

by Vincent Bindi on October 25, 2007

Price (subject to change):  $699,000
Bedrooms:  4
Baths:  3
Living Area (SqFt):   2,601
No. of Garages:  3
Stories:  Two
Year Built:  1990
Lot Size (SqFt):  5,000 nominal
City:  Mission Viejo
Area:  South Mission Viejo
Tract:  Bellagio
Street:  San Ramon Way
School District:  Capistrano Unified

Property Description:   Great potential and large price reduction for this Short Sale detached home for sale in Mission Viejo.  Great neighborhood on single loaded Cul-de-Sac street.  Spacious floor plan with high cathedral ceilings.   Luxury living and dining room.  Has a Gourmet Kitchen with breakfast area.  Downstairs bedroom.  Good move-in condition.

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.  The Bank does not want to own this REO property and wants is sold.

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 short sale property for sale in Orange County.  Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at:  www.OCBargainHomes.com