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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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Dana Point Homes and Condos market update.

by vbindi on May 4, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Dana Point . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 170 detached single family homes for sale, with a median price of $1,200,000 and an average price per square foot of $621 . These homes are priced from a low of $381,959 for a 3 bedroom, 2 bath, 1,224 square foot home located in the subdivision called Custom . On up to a maximum price of $24,999,000 for a fine home incorporating 5 bedrooms, 8 baths, with 9,700 square feet of living area, which is located in the The Strand at Headlands Tract.

For attached condos, there are currently 76 condos active for sale in Dana Point . The median price of these condos is $515,000 and the average price per square foot is $406 . These listed condos range in price from a low of $168,900 for a unit comprising of 1 bedroom, 1 bath, 700 square foot, that is situated in the Harbor Creek Tract. Up to a maximum price of $2,650,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 3,101 square feet found in the Admiralty Subdivision.

For properties currently under contract in Dana Point there are 68 detached homes in escrow, and the median price is $895,000 . These detached homes range in price from a low of $399,900 for a 3 bedroom, 2 bath, 1,145 square foot property located in the Custom Tract. On up to a maximum price of $3,399,000 for a fine property comprising of 4 bedrooms, 4 baths, and incorporates an expansive 4,475 square feet of living area, located in the Monarch Bay Tract.

For condos, there are 50 units now in escrow in Dana Point , with a median price of $461,900 . These pending units range in price from $154,000 for a 1 bedroom, 1 bath, 700 square foot condominium, located in the Harbor Walk Subdivision. On up to a maximum price of $1,795,000 for a fine condo consisting of 3 bedrooms, and 5 baths, with 3,651 square feet, found in the Admiralty Subdivision.

In the past 90 days, there have been 42 detached homes that have sold and closed escrow in Dana Point . These sold homes had a median price of $717,500 with an average price per square foot of $423 . These closed homes range in price from a low of $355,000 for a detached home comprised of 2 bedrooms, and 1 bath, with 1,011 square feet, and is located in the Custom Subdivision. And a maximum price of $5,950,000 for an estate property comprising of 5 bedrooms, 7 baths, and a spacious 6,378 square feet located in the Niguel Shores Tract.

For the past 3 months, there have been 42 attached condominiums that have sold and closed escrow in Dana Point , California. The median price of these attached units was $415,000 and the average price per square foot was $315 . These sold condominiums ranged in price from a low of $175,000 for a 1 bedroom, 1 bath, 650 square foot unit found in the Harbor Creek condo Tract. And the maximum priced sold condo was $1,050,000 for a nice unit comprised of 4 bedrooms, 4 baths, and 3,300 square feet that is situated in the Monarch Del Mar Tract.

If you have any questions regarding real estate for sale in Dana Point , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Dana Point .

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Newport Coast Real Estate report.

by vbindi on April 16, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Newport Coast . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 111 detached single family homes for sale, with a median price of $3,200,000 and an average price per square foot of $765 . These homes are priced from a low of $2,075,000 for a 3 bedroom, 3 bath, 2,815 square foot home located in the subdivision called Seabourn . On up to a maximum price of $19,850,000 for a fine home incorporating 6 bedrooms, 8 baths, with 12,500 square feet of living area, which is located in the Pelican Hill Tract.

For attached condos, there are currently 23 condos active for sale in Newport Coast . The median price of these condos is $869,000 and the average price per square foot is $430 . These listed condos range in price from a low of $475,000 for a unit comprising of 2 bedroom, 2 bath, 1,212 square foot, that is situated in the Summit Tract. Up to a maximum price of $2,595,000 for a roomy condo consisting of 4 bedrooms, 5 baths, with 3,850 square feet found in the Seascape Subdivision.

For properties currently under contract in Newport Coast there are 25 detached homes in escrow, and the median price is $2,595,000 . These detached homes range in price from a low of $1,295,000 for a 3 bedroom, 3.5 bath, 2,576 square foot property located in the Belarca Tract. On up to a maximum price of $6,695,000 for a fine property comprising of 4 bedrooms, 5 baths, and incorporates an expansive 6,350 square feet of living area, located in the Crystal Cove Sea Crest Tract.

For condos, there are 10 units now in escrow in Newport Coast , with a median price of $813,000 . These pending units range in price from $587,500 for a 2 bedroom, 2 bath, 1,094 square foot condominium, located in the Trovare Subdivision. On up to a maximum price of $1,099,000 for a fine condo consisting of 3 bedrooms, and 3 baths, with 2,300 square feet, found in the Vistas Subdivision.

In the past 90 days, there have been 37 detached homes that have sold and closed escrow in Newport Coast . These sold homes had a median price of $2,360,000 with an average price per square foot of $571 . These closed homes range in price from a low of $3,365,000 for a detached home comprised of 4 bedrooms, and 5 bath, with 3,670 square feet, and is located in the Nautilus Subdivision. And a maximum price of $8,250,000 for an estate property comprising of 5 bedrooms, 7 baths, and a spacious 11,100 square feet located in the Pelican Crest Tract.

For the past 3 months, there have been 8 attached condominiums that have sold and closed escrow in Newport Coast , California. The median price of these attached units was $675,000 and the average price per square foot was $393 . These sold condominiums ranged in price from a low of $500,000 for a 2 bedroom, 2 bath, 1212 square foot unit found in the Summit condo Tract. And the maximum priced sold condo was $1,150,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 2,300 square feet that is situated in the Vistas Tract.

If you have any questions regarding real estate for sale in Newport Coast , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Newport Coast and south Orange County.

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Laguna Niguel Real Estate market update

by vbindi on April 8, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Laguna Niguel. This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 181 detached single family homes for sale, with a median price of $860,000 and an average price per square foot of $377 . These homes are priced from a low of $450,000 for a 2 bedroom, 2 bath, 1,589 square foot home located in the subdivision called Villa Pacifica . On up to a maximum price of $7,995,000 for a fine home incorporating 6 bedrooms, 8 baths, with 10,000 square feet of living area, which is located in the Monarch Point Custom Tract.

For attached condos, there are currently 94 condos active for sale in Laguna Niguel . The median price of these condos is $300,000 and the average price per square foot is $294 . These listed condos range in price from a low of $169,900 for a unit comprising of 1 bedroom, 1 bath, 713 square foot, that is situated in the Crystral Cay Tract. Up to a maximum price of $1,205,000 for a roomy condo consisting of 2 bedrooms, 3 baths, with 2,244 square feet found in the Laguna Sur Subdivision.

For properties currently under contract in Laguna Niguel there are 103 detached homes in escrow, and the median price is $561,000 . These detached homes range in price from a low of $384,900 for a 3 bedroom, 2 bath, 1,303 square foot property located in the Lake Park Tract. On up to a maximum price of $3,690,000 for a fine property comprising of 5 bedrooms, 6 baths, and incorporates an expansive 6,500 square feet of living area, located in the Ocean Ranch Custom Tract.

For condos, there are 104 units now in escrow in Laguna Niguel , with a median price of $285,000 . These pending units range in price from $145,000 for a 1 bedroom, 1 bath, 565 square foot condominium, located in the Rancho Niguel Subdivision. On up to a maximum price of $749,000 for a fine condo consisting of 3 bedrooms, and 4 baths, with 2,379 square feet, found in the Laguna Sur Subdivision.

In the past 90 days, there have been 102 detached homes that have sold and closed escrow in Laguna Niguel . These sold homes had a median price of $680,000 with an average price per square foot of $332 . These closed homes range in price from a low of $445,000 for a detached home comprised of 3 bedrooms, and 3 bath, with 1,500 square feet, and is located in the Terra Nova Subdivision. And a maximum price of $6,075,000 for an estate property comprising of 4 bedrooms, 7 baths, and a spacious 6,900 square feet located in the Bear Brand Ranch Custom Tract.

For the past 3 months, there have been 103 attached condominiums that have sold and closed escrow in Laguna Niguel , California. The median price of these attached units was $270,000 and the average price per square foot was $266 . These sold condominiums ranged in price from a low of $142,000 for a 1 bedroom, 1 bath, 750 square foot unit found in the Hillhurst Condos condo Tract. And the maximum priced sold condo was $1,100,000 for a nice unit comprised of 3 bedrooms, 4 baths, and 3,172 square feet that is situated in the Laguna Sur Tract.

If you have any questions regarding real estate for sale in Laguna Niguel , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Laguna Niguel .

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San Juan Capistrano Real Estate Market Update

by vbindi on March 25, 2010

This Market Update report is all real estate currently active for sale and properties sold in the recent past for San Juan Capistrano. This market report is brought to you by the professional realtors at eVantage Real Estate here in Orange County, CA. Currently there are 90 detached single family homes listed for sale, and these properties have median price of $1,198,000 and an average price per square foot of $494 . These properties range in price from a low of $425,000 for a 4 bedroom, 3 bath, 1,877 square foot home located subdivision called Capistrano Heights . The maximum price of homes currently listed for sale is $22,500,000 for a fine estate boasting of 4 bedrooms, 4 baths, with 3,500 square feet of living area, and is situated in the Ortega Custom Neighborhood.

For condominiums, there are now 25 units active for sale in San Juan Capistrano . The median price of these condos is $180,000 and the average price per square foot is $223 . These condominiums range in price from a low of $100,000 for a unit comprising of 1 bedroom, 1 bath, 785 square foot, that is found in the Casitas De Alipaz Tract. Up to a maximum price of $749,000 for a roomy condo consisting of 5 bedrooms, 3 baths, with 2,240 square feet found in the Masters Subdivision.

For homes now pending in contract in San Juan Capistrano there are 52 detached homes in escrow, which have a median price of $795,000 . These properties range in price from a low of $294,000 for a 2 bedroom, 2 bath, 910 square foot property located in the Sun Hollow Area. The maximum price is $2,995,000 for a fine property incorporating 6 bedrooms, 8 baths, with an expansive 8,250 square feet of living area, located in the Hilltop Estates Neighborhood.

There are 55 Condo units now pending in escrow in San Juan Capistrano , that have a median price of $150,000 . These units range in price from $86,000 for a 1 bedroom, 1 bath, 785 square foot condominium, situated in the Alipaz Subdivision. On up to a high price of $499,000 for a fine condo comprised of 3 bedrooms, and 2 baths, with 1,631 square feet, found in the Mesa Verde Subdivision.

For Sold home in the past 3 months, there were 33 detached properties that closed escrow in San Juan Capistrano . These sold homes had a median price of $635,000 with an average price per square foot of $330 . These sold homes ranged in value from a low price of $350,000 for a detached home with 4 bedrooms, and 2 baths, incorporating 1,400 square feet, located in the Harbor Lane Subdivision. And a maximum price of $4,350,000 for an estate property comprising of 6 bedrooms, 9 baths, and a spacious 9,344 square feet located in the Hunt Club Community.

For attached Condos Sold in the past 3 Months, there were 42 such units that succesfully closed escrow in San Juan Capistrano , California. The median price of these attached units was $157,000 with an average price per square foot of $188 . These sold condominiums ranged in price from a low of $80,000 for a 1 bedroom, 1 bath, 785 square foot unit found in the Alipaz condo Tract. The maximum priced sold condo was $537,000 for a nice unit comprised of 3 bedrooms, 2 baths, and 1,646 square feet found in the Mesa Verde Tract.

If you have any questions regarding homes or condominiums for sale in San Juan Capistrano , please feel free to contact us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Of visit our San Juan Capistrano Home for Sale Website.

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Newport Beach Real Estate Market Update

by vbindi on March 19, 2010

This Market Update report is all real estate currently active for sale and properties sold in the recent past for Newport Beach. This market report is brought to you by the professional realtors at eVantage Real Estate here in Orange County, CA. Currently there are 367 detached single family homes listed for sale, and these properties have median price of $1,990,000 and an average price per square foot of $618 . These properties range in price from a low of $269,000 for a 2 bedroom, 2 bath, 998 square foot home located subdivision called Cannery Village Mobile Park . The maximum price of homes currently listed for sale is $95,000,000 for a fine estate boasting of 8 bedrooms, 14 baths, with 29,000 square feet of living area, and is situated in the Back Bay Custom Homes area.

For condominiums, there are now 166 units active for sale in Newport Beach . The median price of these condos is $859,000 and the average price per square foot is $647 . These condominiums range in price from a low of $239,000 for a unit comprising of 1 bedroom, 1 bath, 502 square foot, that is found in the Versailles Tract. Up to a maximum price of $2,950,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 3,508 square feet found in the Harbor Ridge Estates.

For homes now pending in contract in Newport Beach there are 87 detached homes in escrow, which have a median price of $1,490,000 . These properties range in price from a low of $550,000 for a 3 bedroom, 2 bath, 1,600 square foot property located in the Back Bay Anniversary Homes. The maximum price is $9,950,000 for a fine property incorporating 5 bedrooms, 7 baths, with an expansive 6,150 square feet of living area, located in the Lido Island.

There are 57 Condo units now pending in escrow in Newport Beach , that have a median price of $474,500 . These units range in price from $295,000 for a 2 bedroom, 3 bath, 1,157 square foot condominium, situated in the Newport Terrace Subdivision. On up to a high price of $1,995,000 for a fine condo comprised of 3 bedrooms, and 3 baths, with 2,700 square feet, found in the Harbor Ridge Estates.

For Sold home in the past 3 months, there were 85 detached properties that closed escrow in Newport Beach . These sold homes had a median price of $1,275,000 with an average price per square foot of $572 . These sold homes ranged in value from a low price of $142,000 for a detached home with 2 bedrooms, and 1 baths, incorporating 1,000 square feet, located in the Lido Park Subdivision. And a maximum price of $5,550,000 for an estate property comprising of 5 bedrooms, 6 baths, and a spacious 2,979 square feet located in Balboa Island.

For attached Condos Sold in the past 3 Months, there were 52 such units that succesfully closed escrow in Newport Beach , California. The median price of these attached units was $550,000 with an average price per square foot of $455 . These sold condominiums ranged in price from a low of $260,000 for a 1 bedroom, 1 bath, 493 square foot unit found in the Versailles condo Tract. The maximum priced sold condo was $1,900,000 for a nice unit comprised of 2 bedrooms, 3 baths, and 1,864 square feet found in the Lido Building.

If you have any questions regarding homes or condominiums for sale in Newport Beach , please feel free to contact us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Or visit our Newport Beach Homes for Sale Website.

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Tustin Homes and Condos Market Update.

by vbindi on March 13, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Tustin.  This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 59 detached single family homes for sale, with a median price of $599,000 and an average price per square foot of $348 . These homes are priced from a low of $399,900 for a 2 bedroom, 3 bath, 1,249 square foot home located in the subdivision called Tustin Grove . On up to a maximum price of $4,295,000 for a fine home incorporating 5 bedrooms, 7 baths, with 6,900 square feet of living area, which is located in the Tustin Ranch Estates Tract.

For attached condos, there are currently 30 condos active for sale in Tustin . The median price of these condos is $345,000 and the average price per square foot is $302 . These listed condos range in price from a low of $145,000 for a unit comprising of 1 bedroom, 1 bath, 696 square foot, that is situated in the Rancho San Juan Tract. Up to a maximum price of $729,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 2,420 square feet found in the Corte Villa Subdivision.

For properties currently under contract in Tustin there are 41 detached homes in escrow, and the median price is $575,000 . These detached homes range in price from a low of $249,900 for a 2 bedroom, 2 bath, 831 square foot property located in the Village Homes Tract. On up to a maximum price of $1,399,999 for a fine property comprising of 5 bedrooms, 5 baths, and incorporates an expansive 4,400 square feet of living area, located in the San Marino Tract.

For condos, there are 20 units now in escrow in Tustin , with a median price of $333,920 . These pending units range in price from $180,000 for a 2 bedroom, 2 bath, 1,005 square foot condominium, located in the Tustin Villa Subdivision. On up to a maximum price of $579,000 for a fine condo consisting of 4 bedrooms, and 4 baths, with 2,145 square feet, found in the Lindy Crossing Subdivision.

In the past 90 days, there have been 48 detached homes that have sold and closed escrow in Tustin . These sold homes had a median price of $583,000 with an average price per square foot of $321 . These closed homes range in price from a low of $233,000 for a detached home comprised of 2 bedrooms, and 2 bath, with 845 square feet, and is located in the Village Homes Subdivision. And a maximum price of $3,670,000 for an estate property comprising of 6 bedrooms, 8 baths, and a spacious 7,100 square feet located in the Tustin Ranch Estates Tract.

For the past 3 months, there have been 30 attached condominiums that have sold and closed escrow in Tustin , California. The median price of these attached units was $350,000 and the average price per square foot was $294 . These sold condominiums ranged in price from a low of $130,000 for a 1 bedroom, 1 bath, 695 square foot unit found in the Rancho San Juan condo Tract. And the maximum priced sold condo was $530,000 for a nice unit comprised of 3 bedrooms, 3 baths, and 1,689 square feet that is situated in the Camden Place Tract.

If you have any questions regarding real estate for sale in Tustin , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Tustin.

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Irvine Homes and Condos market update.

by vbindi on March 4, 2010

This is a statistical report for Active for Sale and Sold homes and condos in Irvine . This report is brought to you by the professional realtors at eVantage Real Estate in Orange County, CA. Today, there are 238 detached single family homes for sale, with a median price of $849,000 and an average price per square foot of $433 . These homes are priced from a low of $319,000 for a 2 bedroom, 2 bath, 1,670 square foot home located in the subdivision called Groves 55+ . On up to a maximum price of $15,995,000 for a fine home incorporating 5 bedrooms, 9 baths, with 13,500 square feet of living area, which is located in the Shady Canyon Tract.

For attached condos, there are currently 288 condos active for sale in Irvine . The median price of these condos is $499,000 and the average price per square foot is $343 . These listed condos range in price from a low of $220,000 for a unit comprising of 1 bedroom, 1 bath, 635 square foot, that is situated in the Watermarke Tract. Up to a maximum price of $519,000 for a roomy condo consisting of 3 bedrooms, 3 baths, with 1,450 square feet found in the Corte Bella Subdivision.

For properties currently under contract in Irvine there are 210 detached homes in escrow, and the median price is $725,000 . These detached homes range in price from a low of $209,000 for a 1 bedroom, 1 bath, 932 square foot property located in the The Lakes Tract. On up to a maximum price of $5,995,000 for a fine property comprising of 6 bedrooms, 9 baths, and incorporates an expansive 9,800 square feet of living area, located in the Shady Canyon Tract.

For condos, there are 284 units now in escrow in Irvine , with a median price of $419,900 . These pending units range in price from $135,000 for a 1 bedroom, 1 bath, 512 square foot condominium, located in the Lake Condos Subdivision. On up to a maximum price of $585,000 for a fine condo consisting of 3 bedrooms, and 3 baths, with 1,380 square feet, found in the Ashton Green Subdivision.

In the past 90 days, there have been 185 detached homes that have sold and closed escrow in Irvine . These sold homes had a median price of $915,000 with an average price per square foot of $374 . These closed homes range in price from a low of $320,000 for a detached home comprised of 2 bedrooms, and 2 bath, with 1,000 square feet, and is located in the Bowen Court Subdivision. And a maximum price of $5,777,777 for an estate property comprising of 6 bedrooms, 8 baths, and a spacious 13,418 square feet located in the Shady Canyon Tract.

For the past 3 months, there have been 219 attached condominiums that have sold and closed escrow in Irvine , California. The median price of these attached units was $439,000 and the average price per square foot was $326 . These sold condominiums ranged in price from a low of $135,000 for a 0 bedroom, 1 bath, 415 square foot unit found in the Irvine Springs condo Tract. And the maximum priced sold condo was $1,250,000 for a nice unit comprised of 3 bedrooms, 4 baths, and 2,677 square feet that is situated in the The Plaza Tract.

If you have any questions regarding real estate for sale in Irvine , please feel free to call us at: (949) 388-3396, or email us at: Info@eVantageRE.com . Click this link if you would like to view all homes for sale in Irvine.

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Dana Point Short Sale Market Realtor report.

by vbindi on February 23, 2010

This analysis is for Dana Point residential standard sales, short sales and bank REO sales, and was generated by the realtor experts at the Short Sales ASAP group.  They are #1 in short sale property listings and closings in Orange County.

Currently, there are 155 detached homes listed for sale in Dana Point , California. The median price of these active homes for sale is $1,175,000 and the average price per square foot is $634 . Of this total, 31 are short sale listings active for sale, and another 3 are bank owned REO’s, for a total of 34 financially distressed single family homes in Dana Point . These distressed home listings represent 22% of the total inventory of detached homes for sale. The median price of these distressed properties is $729,000 and the average price per square foot is $378 .

For attached condominiums, there are 77 condo units currently listed for sale in Dana Point . The median price for these listed condominiums is $499,900 and the average price per square foot is $399 . Of this total, 24 are short sale condo listings, and another 6 are bank owned foreclosed condos listed for sale in Dana Point , for a grand total of 30 financially distressed condo listings. The median price of these distressed condos is $325,000 , and the average price per square foot is $321 . The ratio of distressed condo listings to the total listings is 39% .

Currently, there are 52 detached homes under contract in escrow, and the median price of these pending properties is $1,450,000 . Of this total pending properties, 32 are short sales, and another 3 are bank owned REO properties. This is a total of 35 financially distressed homes, which is 67% of the total detached properties in escrow in Dana Point , and the median price is $625,000 .

For condominiums, there are now 46 attached units in escrow, and the median price is $355,000 . Of this number, 29 are short sales in escrow, and 4 are bank owned REO condos in escrow in Dana Point . This total of 33 distressed condos is 72% of the total units in escrow, and the median price is $339,900 .

In the past 90 days, there have been a total of 40 detached homes that have sold and closed escrow in Dana Point . The median price of these sold homes was $699,000 and the average price per square foot was $362 . Comprising of this total were 12 short sale properties, and 4 bank owned foreclosure homes, for a total of 16 distressed homes that have sold in Dana Point in the past 3 months. This number of distressed sales is 40% of the total, and the median price was $585,000 , and the average price per square foot was $301 .

For attached condos, there have been a total of 40 condo sales in the past 3 months. The median price was $435,000 , and the average price per square foot was $343 in Dana Point . In addition, there were 11 short sale condos that sold and closed, and another 5 REO units that sold in the past 90 days. This was a total of 16 distressed condos, which is 40% of the total number of units sold in this period. The median price of the sold condos was $381,000 , and the average price per square foot was $314 .

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

Placentia Short Sale Realtor report.

by vbindi on February 22, 2010

This analysis is brought to you by the experts at the ShortSalesASAP group, who specialize in short sale negotiations, marketing and sales here in Placentia . This article will report the statistics for Active for Sale and Sold standard listing properties, short sales and bank owned REO’s. Currently, there are 71 detached homes listed for sale in Placentia , California. The median price of these homes for sale is $499,999 and the average price per square foot is $255 . 25 of these active listings are short sales, and another 6 are bank owned foreclosures, for a total of 31 financially distressed single family homes in Placentia . These distressed home listings represent 44% of the total inventory of detached homes for sale. The median price of these distressed properties is $459,000 and the average price per square foot is $230 .

There are now 31 condominiums listed for sale in Placentia . The median price for these listed condominiums is $290,000 and the average price per square foot is $234 . Of this total, 18 are short sale listings, and 3 are bank owned REO condos listed for sale in Placentia , for a grand total of 21 financially distressed condo listings. The median price of these distressed units is $250,000 , and the average price per square foot is $220 . The ratio of distressed condo listings to the total listings is 68% .

For homes under contract, there are 51 detached homes in escrow on this date, and the median price is $699,000 . Of this total, 19 are short sales in escrow, and another 5 are bank owned REO properties. This is a total of 24 distressed homes, which is 47% of the total detached properties in escrow in Placentia , and the median price is $669,999 .

For condominiums in escrow, there are now 31 attached units under contract, with a median price of $242,500 . Of this number, 16 are short sales, and 7 are bank owned REO condos in escrow in Placentia . This total of 23 distressed condos is 74% of the total pending units, and the median price is $229,900 .

In the past 3 months, there have been a total of 68 detached homes that have sold and closed escrow in Placentia . The median price was $487,625 and the average price per square foot was $246 . Of this total were 12 were short sale properties, and 14 were bank owned foreclosure homes, for a total of 26 distressed homes that have sold in Placentia in the past 3 months. This number of distressed sales is 38% of the total. The median price was $435,000 , and the average price per square foot was $240 .

In the past 90 days, there have been a total of 24 condo sales with a median price of $275,000 , and an average price per square foot of $176 in Placentia . Also, there were 11 short sale condos sold, and 5 REO units that sold. This was a total of 16 distressed condos, which is 67% of the total number of units sold in this period. The median price of the sold condos was $230,000 , and the average price per square foot was $133 .

As can be seen above, the ratio of Active distressed listings, to Active total listings is a much higher percentage, compared to the ratio of Sold distressed properties to Sold total properties. This illustrates that short sales fail at a high rate, due to the fact that many agents who attempt to sell and close short sales do not have the required skill or experience to close this types of transactions. Therefore, property owners who owe more than their home is worth, should work with an experienced Placentia 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.

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