From the category archives:

5 – Short Sale Real Estate Orange County

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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Aliso Viejo Short Sale Real Estate report

by vbindi on September 2, 2011

This report is for standard sales and short sales in Aliso Viejo. This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 107 detached homes listed for sale in Aliso Viejo, California. The median price of these active homes for sale is $525,000 and the average price per square foot is $286. Of this total, 32 are short sale listings active for sale. These short sale listings represent 30% of the total inventory of detached homes for sale. The median price of these short sale properties is $425,000 and the average price per square foot is $258.

For attached condominiums, there are 125 condo units currently listed for sale in Aliso Viejo. The median price for these listed condominiums is $299,900 and the average price per square foot is $242. Of this total, 63 are short sale condo listings. The median price of these short sale condos is $275,000, and the average price per square foot is $227. The ratio of short sale condo listings to listings is 50%.

Currently, there are 63 detached homes under contract in escrow, and the median price of these pending properties is $519,000. Of this total pending properties, 34 are short sales, which is 54% of the total detached properties in escrow in Aliso Viejo. The median price is $465,000.

For condominiums, there are now 111 attached units in escrow, and the median price is $289,000. Of this number, 73 are short sales in escrow in Aliso Viejo. These short sale condos are 66% of the total units in escrow, and the median price is $262,000.

In the past 90 days, there have been a total of 74 detached homes that have sold and closed escrow in Aliso Viejo. The median price of these sold homes was $486,000 and the average price per square foot was $274. Of this total were 19 short sale properties, which was 26% of the total sales. The median price was $405,000, and the average price per square foot was $252.

For attached condos, there have been a total of 127 condominium sales in the past 3 months. The median price was $271,000, and the average price per square foot was $234 in Aliso Viejo. In addition, there were 35 short sale condos that sold and closed escrow during this same period of time, which was 28% of the total number of units sold. The median price of the sold short sale condos was $255,000, and the average price per square foot was $212.

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Aliso Viejo short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Orange County Short Sale Homes are a relative Bargain

by vbindi on June 14, 2011

We have been conducting price and sales volume analysis in Orange County since 2002, and we recently just started tracking a new statistic for our local market. We took a look at the average closed sales prices of Short Sales versus Standard Sales utilizing recent closing data from the Orange County MLS. Before we jump to the punch line, a little bit of statistical background. We utilize the Average Price per Square foot versus the simple Median or Average home price, for the Avg $/SqFt indicator is a more accurate indicator of the true movement in pricing.

What our number crunching indicated was amazing. On average, Short Sales are selling for 13% less, than a comparable property that is not a Short Sale nor REO. We also found, that Short Sales fail to close at a high rate of around 40% compared to Standard Sales which is not surprising. Here is our insight to why this is so. One, there are many buyers who just do not have the stomach for a Short Sale transaction, in which a prospective buyer may not know for 1 to 3 months whether they actually have the deal or not, which makes it tough to plan a move. Plus, after waiting 3 months in escrow, a Buyer may find out that they now have to come up with an additional $3,000 cash to pay for some lien or expense that the seller or bank won’t pay for. In addition, many Real Estate Agents that work with Buyers have an aversion to working with Short Sales. The result, is that the demand for Non-Short Sales is stronger than for Short Sales, which results in the higher closed sales prices.

Moral of the story, if you are a Buyer who is looking to get a better than average deal in today’s Orange County real estate market, you may want to consider looking at Short Sales, and working with an Agent who has experience and enjoys working with Short Sales. Visit our website to view all Orange County Short Sale properties listed for sale. For more information about all Short Sale homes for Sale in orange County, contact ShortSalesASAP at: 949-388-3396 or email at:  Info@ShortSalesASAP.com

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Short Sale Information, Laguna Beach

by vbindi on February 28, 2011

This information is brought to you by the experts at the ShortSalesASAP group, who specialize in negotiating short sales, marketing and sales here in Laguna Beach. This article will address the statistics for short sales as compared to Active for Sale and Sold standard listing properties. There are currently 195 detached homes listed for sale in Laguna Beach, California. The median price of these homes for sale is $3,475,000 and the average price per square foot is $1,017 . 19 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .

In Laguna Beach there are now 49 condominiums listed for sale. For these listed condominiums the median price is $1,199,000 and the average price per square foot is $943 . Of this total, 3 are short sale listings. The median price of these short sale units is $489,900 , and the average price per square foot is $552 . The ratio of short sale condo listings to the total listings is 6% .

For homes under contract, there are 45 detached homes in escrow on this date, and the median price is $1,239,000 . Of this total, 19 are short sales in escrow, which is 42% of the total detached properties in escrow in Laguna Beach, and the short sale median price in escrow is $898,000 .

For condominiums in escrow, there are now 8 attached units under contract, with a median price of $799,000 . Of this number, 3 are short sales, which calculates to be 38% of the total pending units, and the median price is $380,000 .

In the past 3 months, there have been a total of 78 detached homes that have sold and closed escrow in Laguna Beach. The median price was $1,375,000 and the average price per square foot was $657 . Of this total were 10 were short sale properties in the city of Laguna Beach  in the past 3 months. This number of sold short sales is 13% of the total. The median price was $825,000 , and the average price per square foot was $483 .

In the past 90 days, there have been a total of 10 condo sales with a median price of $1,000,000 , and an average price per square foot of $639 in Laguna Beach. Also, there were 1 short sale condos sold, which was 10% of the total number of units sold in this period. The median price of the sold short sale condos was $1,010,000 , and the average price per square foot was $754 .

As can be seen above, the ratio of pending In Escrow short sale properties, to pending in escrow total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties.  This high rate of failure due to the lack of knowledge by the typical short sale listing agent.   This illustrates that Property owners who owe more than their home is worth, should work with an experienced Laguna Beach short sale realtor such as the ShortSalesASAP group. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Laguna Niguel Short Sale Analysis

by vbindi on February 4, 2011

This report is for standard sales and short sales in Laguna Niguel . This article is brought to you by the Realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 196 detached homes listed for sale in Laguna Niguel, California. The median price of these active homes for sale is $749,000 and the average price per square foot is $375 . Of this total, 67 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 $625,000 and the average price per square foot is $295 .

For attached condominiums, there are 134 condo units currently listed for sale in Laguna Niguel. The median price for these listed condominiums is $285,000 and the average price per square foot is $253 . Of this total, 70 are short sale condo listings. The median price of these short sale condos is $249,000 , and the average price per square foot is $233 . The ratio of short sale condo listings to listings is 52% .

Currently, there are 81 detached homes under contract in escrow, and the median price of these pending properties is $599,000 . Of this total pending properties, 49 are short sales, which is 60% of the total detached properties in escrow in Laguna Niguel. The median price is $550,000 .

For condominiums, there are now 65 attached units in escrow, and the median price is $280,000 . Of this number, 42 are short sales in escrow in Laguna Niguel. These short sale condos are 65% of the total units in escrow, and the median price is $279,000 .

In the past 90 days, there have been a total of 127 detached homes that have sold and closed escrow in Laguna Niguel. The median price of these sold homes was $665,000 and the average price per square foot was $300 . Of this total were 25 short sale properties, which was 20% of the total sales. The median price was $545,000 , and the average price per square foot was $282 .

For attached condos, there have been a total of 79 condominium sales in the past 3 months. The median price was $300,000 , and the average price per square foot was $256 in Laguna Niguel. In addition, there were 22 short sale condos that sold and closed escrow during this same period of time, which was 28% of the total number of units sold. The median price of the sold short sale condos was $273,000 , and the average price per square foot was $240 .

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Laguna Niguel short sale Realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Newport Coast Property Report – 1/12/2011

by vbindi on January 12, 2011

This analysis is brought to you by the experts at the ShortSalesASAP group, who specialize in short sale negotiations, marketing and sales here in Newport Coast 12/10 . This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to short sales. Currently, there are 195 detached homes listed for sale in Newport Coast 12/10 , California. The median price of these homes for sale is $3,250,000 and the average price per square foot is $848 . 2 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .

There are now 15 condominiums listed for sale in Newport Coast 12/10 . The median price for these listed condominiums is $1,082,000 and the average price per square foot is $550 . Of this total, 0 are short sale listings. The median price of these short sale units is NO , and the average price per square foot is NO . The ratio of short sale condo listings to the total listings is 0% .

For homes under contract, there are 22 detached homes in escrow on this date, and the median price is $1,799,000 . Of this total, 12 are short sales in escrow, which is 55% of the total detached properties in escrow in Newport Coast 12/10 , and the short sale median price in escrow is $1,799,000 .

For condominiums in escrow, there are now 12 attached units under contract, with a median price of $825,000 . Of this number, 8 are short sales, which calculates to be 67% of the total pending units, and the median price is $755,000 .

In the past 3 months, there have been a total of 29 detached homes that have sold and closed escrow in Fullerton . The median price was $2,250,000 and the average price per square foot was $584 . Of this total were 3 were short sale properties in the city of Newport Coast 12/10 in the past 3 months. This number of sold short sales is 10% of the total. The median price was $2,500,000 , and the average price per square foot was $583 .

In the past 90 days, there have been a total of 16 condo sales with a median price of $850,000 , and an average price per square foot of $453 in Newport Coast 12/10 . Also, there were 4 short sale condos sold, which was 25% of the total number of units sold in this period. The median price of the sold short sale condos was $855,000 , and the average price per square foot was $412 .

As can be seen above, the ratio of pending In Escrow short sale properties, to pending in escrow total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties.  This high rate of failure due to the lack of knowledge by the typical short sale listing agent.   This illustrates that Property owners who owe more than their home is worth, should work with an experienced Newport Coast 12/10 short sale realtor such as the ShortSalesASAP group. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

Short Sale Listing Report Aliso Viejo

by vbindi on November 17, 2010

This report is for standard sales and short sales in Aliso Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 68 detached homes listed for sale in Aliso Viejo , California. The median price of these active homes for sale is $599,500 and the average price per square foot is $297 . Of this total, 24 are short sale listings active for sale. . These short sale listings represent 35% of the total inventory of detached homes for sale. The median price of these short sale properties is $525,000 and the average price per square foot is $280 .

For attached condominiums, there are 200 condo units currently listed for sale in Aliso Viejo . The median price for these listed condominiums is $339,900 and the average price per square foot is $269 . Of this total, 97 are short sale condo listings. The median price of these short sale condos is $300,000 , and the average price per square foot is $253 . The ratio of short sale condo listings to listings is 49% .

Currently, there are 44 detached homes under contract in escrow, and the median price of these pending properties is $509,900 . Of this total pending properties, 21 are short sales, which is 48% of the total detached properties in escrow in Aliso Viejo . The median price is $469,900 .

For condominiums, there are now 114 attached units in escrow, and the median price is $319,900 . Of this number, 84 are short sales in escrow in Aliso Viejo . These short sale condos are 74% of the total units in escrow, and the median price is $314,900 .

In the past 90 days, there have been a total of 55 detached homes that have sold and closed escrow in Aliso Viejo . The median price of these sold homes was $610,000 and the average price per square foot was $293 . Of this total were 8 short sale properties, which was 15% of the total sales. The median price was $525,000 , and the average price per square foot was $259 .

For attached condos, there have been a total of 112 condominium sales in the past 3 months. The median price was $340,000 , and the average price per square foot was $263 in Aliso Viejo . In addition, there were 37 short sale condos that sold and closed escrow during this same period of time, which was 33% of the total number of units sold. The median price of the sold short sale condos was $290,000 , and the average price per square foot was $253 .

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Aliso Viejo short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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New Bank of America Short Sale program helps Orange County Home Owners

by vbindi on August 19, 2010

Bank of America is now starting a new short sale program that will target certain homeowners, in the hard hit states of  California, Florida, Arizona and Nevada, according to a top level B of A official.  In this new program, B of A  will pre-screen home owners who have been considered for a modification under the Home Affordable Modification Program (HAMP) and a short sale under the Home Affordable Foreclosure Alternatives (HAFA) program.  And these borowers have either fallen out of  these programs or were declined during the qualification process.

Bank of America states that the purpose of this program is give these home owners a better alternative, then foreclosure. They intend to provide a custom program with incentives that are attractive to homeowners experiencing a true hardship.  This type of proactive response will help to bring stability to the beleaguered Orange County housing market.  This new test short sale program, was developed to streamline the process.  In that regard,  B of A will use the previous documents that the home owner had submitted, so that no new documents are needed from the prospective seller. 

One of the very important beneifts of this new Bank of America short sale program, is that they will be waiving deficiencies, which is the difference between what the home sells for and how much is left on the mortgage.  This is a huge benefit to any Orange County home owner who may be contemplating a short sale with a Bank of America loan.  Another beneficial feature of this new short sale program, is the B of A will offer the seller a $3,000 relocation fee, for cooperating with the short sale.  If  the property does not sell, then B of A will consider a deed-in-lieu of foreclosure in order to satisfy the mortgage.

B of A will not be selecting which real estate agent to work with, therefore it is advised that a homeowner work with a certifeid and experienced short sale realtor.  B of A will assign a short sale specialist to work with the real estate agent and the homeowner to market the property for 120 days.  Letters have already been mailed to qualified homeowners, and this will be a six month trial program. 

One of the major stumbling blocks to getting short sales approved, is that the for many loans, the beneficiary is some other investment institution other than Bank of America, and it is often difficult for B of A to get that investors approval in time to meet the time lines of a purchase offer.  In this test program, B of A has worked with the investor before hand, to get their preliminary approval so that the short sale can close faster.

There is great need for short sales at this time.  Freddie Mac recently reported that its short sale figures were up 600% from two years ago and said it had completed 22,117 short sales in the first half of 2010, up nearly 180% from 7,914 in the first half of 2009.  In addition, a research firm named Core Logic, has reported taht short sales in the US have tripled since 2008. In addition,   Bank of America has completed more than 25,000 short sales to date.  B of A is committed to improving the short sale process, and test for new ways of completing short sales to help their  customers avoid foreclosure with a dignified exit.

For more inforamtion or questions about short sales in Orange County, HAFA short sales, or the new Bank of America short sale program, feel free to contact the short sale experts at ShortSalesASAP.com  or email us at:  Info@ShortSalesASAP.com

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Anaheim Short Sale Realtor Report

by vbindi on August 13, 2010

This report is for standard sales and short sales in Anaheim . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 348 detached homes listed for sale in Anaheim , California. The median price of these active homes for sale is $369,900 and the average price per square foot is $252 . Of this total, 165 are short sale listings active for sale. . These short sale listings represent 47% of the total inventory of detached homes for sale. The median price of these short sale properties is $340,000 and the average price per square foot is $239 .

For attached condominiums, there are 191 condo units currently listed for sale in Anaheim . The median price for these listed condominiums is $275,000 and the average price per square foot is $215 . Of this total, 114 are short sale condo listings. The median price of these short sale condos is $250,000 , and the average price per square foot is $199 . The ratio of short sale condo listings to listings is 60% .

Currently, there are 328 detached homes under contract in escrow, and the median price of these pending properties is $340,000 . Of this total pending properties, 196 are short sales, which is 60% of the total detached properties in escrow in Anaheim . The median price is $328,000 .

For condominiums, there are now 168 attached units in escrow, and the median price is $215,000 . Of this number, 123 are short sales in escrow in Anaheim . These short sale condos are 73% of the total units in escrow, and the median price is $205,000 .

In the past 90 days, there have been a total of 317 detached homes that have sold and closed escrow in Anaheim . The median price of these sold homes was $345,000 and the average price per square foot was $233 . Of this total were 95 short sale properties, which was 30% of the total sales. The median price was $335,000 , and the average price per square foot was $209 .

For attached condos, there have been a total of 317 condominium sales in the past 3 months. The median price was $366,000 , and the average price per square foot was $233 in Anaheim . In addition, there were 139 short sale condos that sold and closed escrow during this same period of time, which was 44% of the total number of units sold. The median price of the sold short sale condos was $267,000 , and the average price per square foot was $197 .

As can be seen above, the ratio of Pending in Escrow short sale listings, to Pending total listings is a much higher percentage, compared to the ratio of Sold short sale properties to Sold total properties. This illustrates that short sales fail at a high rate. Property owners who owe more than their home is worth, should seek to work with an experienced Anaheim short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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Aliso Viejo Short Sale Realtor report

by vbindi on August 12, 2010

This report is for standard sales and short sales in Aliso Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property listings and closings in Orange County. Currently, there are a total of 104 detached homes listed for sale in Aliso Viejo , California. The median price of these active homes for sale is $565,000 and the average price per square foot is $308 . Of this total, 33 are short sale listings active for sale. . These short sale listings represent 32% of the total inventory of detached homes for sale. The median price of these short sale properties is $495,000 and the average price per square foot is $289 .

For attached condominiums, there are 129 condo units currently listed for sale in Aliso Viejo . The median price for these listed condominiums is $319,900 and the average price per square foot is $271 . Of this total, 72 are short sale condo listings. The median price of these short sale condos is $295,000 , and the average price per square foot is $263 . The ratio of short sale condo listings to listings is 56% .

Currently, there are 60 detached homes under contract in escrow, and the median price of these pending properties is $549,900 . Of this total pending properties, 28 are short sales, which is 47% of the total detached properties in escrow in Aliso Viejo . The median price is $450,000 .

For condominiums, there are now 115 attached units in escrow, and the median price is $285,000 . Of this number, 81 are short sales in escrow in Aliso Viejo . These short sale condos are 70% of the total units in escrow, and the median price is $275,000 .

In the past 90 days, there have been a total of 74 detached homes that have sold and closed escrow in Aliso Viejo . The median price of these sold homes was $575,000 and the average price per square foot was $283 . Of this total were 23 short sale properties, which was 31% of the total sales. The median price was $560,000 , and the average price per square foot was $247 .

For attached condos, there have been a total of 147 condominium sales in the past 3 months. The median price was $350,000 , and the average price per square foot was $346 in Aliso Viejo . In addition, there were 57 short sale condos that sold and closed escrow during this same period of time, which was 39% of the total number of units sold. The median price of the sold short sale condos was $316,000 , and the average price per square foot was $236 .

Property owners who owe more than their home is worth, should seek to work with an experienced Aliso Viejo short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.

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