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Fullerton Short Sale Realtor Market Update

by vbindi on March 3, 2010

This report is for standard sales and short sales in Fullerton . 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.  We track the short sale market here in Fullerton and greater Orange County on an ongoing basis, and report our findings often in this blog.

This market summary is for all property listings, as compared to short sale statistics in Fullerton , California.  Below is a tabulation of the statistics we have gathered for all sales, and short sales for both detached homes and attached condos that are Active for sale, pending In Escrow and Sold in the past 90 days:

Detached Homes – Status # of Homes % of Total Median Price $/SqFt
For Sale – All Listings 195 100% $629,000 $298
For Sale – Short Sales 51 26% $400,000 $246
In Escrow – All Listings 185 100% $400,000 n/a
In Escrow – Short Sales 108 58% $350,000 n/a
Sold – All Listings 167 100% $480,000 $275
Sold – Short Sales 32 19% $485,000 $248

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Attached Condos – Status # of Condos % of Total Median Price $/SqFt
For Sale – All Listings 91 100% $360,000 $255
For Sale – Short Sales 31 34% $310,000 $214
In Escrow – All Listings 107 100% $268,000 n/a
In Escrow – Short Sales 80 75% $265,000 n/a
Sold – All Listings 55 100% $319,000 $239
Sold – Short Sales 15 27% $325,000 $229

One of the important things to note is the high rate of failure when it comes to closing short sales. Look at the ratio of Pending In Escrow short sales to Total Listings for Condos which is 74.8% .  Then compare that to the ratio of Sold short sale condos to Total sold Condos, which is 27.3% .   This large decrease in Ratios from Pending in Escrow to Sold shows that Short Sales fail to close at a high rate today in Fullerton.

The reason being, is that many local Realtors do not have the training or experience in order to close short sales at a high rate of success.  Short sales are the most complex of all residential transactions and require skill, and expertise in order to close at a high rate of success. It is important for Fullerton homeowners, who owe more than their home is worth, to work with an experienced short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com , or visit:  www.FullertonShortSaleExpert.com

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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.

Laguna Hills Short Sale Realtor report.

by vbindi on February 16, 2010

This report is for standard sales, short sales and bank REO sales statistics in Laguna Hills . 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 65 detached homes listed for sale in Laguna Hills , California. The median price of these active homes for sale is $1,195,000 and the average price per square foot is $343 . Of this total, 13 are short sale listings active for sale, and another 1 are bank owned REO’s, for a total of 14 financially distressed single family homes in Laguna Hills . These distressed home listings represent 22% of the total inventory of detached homes for sale. The median price of these distressed properties is $699,000 and the average price per square foot is $252 .

For attached condominiums, there are 27 condo units currently listed for sale in Laguna Hills . The median price for these listed condominiums is $285,000 and the average price per square foot is $241 . Of this total, 18 are short sale condo listings, and another 0 are bank owned foreclosed condos listed for sale in Laguna Hills , for a grand total of 18 financially distressed condo listings. The median price of these distressed condos is $240,000 , and the average price per square foot is $220 . The ratio of distressed condo listings to the total listings is 67% .

Currently, there are 51 detached homes under contract in escrow, and the median price of these pending properties is $549,500 . Of this total pending properties, 24 are short sales, and another 3 are bank owned REO properties. This is a total of 27 financially distressed homes, which is 53% of the total detached properties in escrow in Laguna Hills , and the median price is $496,000 .

For condominiums, there are now 65 attached units in escrow, and the median price is $232,500 . Of this number, 50 are short sales in escrow, and 8 are bank owned REO condos in escrow in Laguna Hills . This total of 58 distressed condos is 89% of the total units in escrow, and the median price is $219,000 .

In the past 90 days, there have been a total of 41 detached homes that have sold and closed escrow in Laguna Hills . The median price of these sold homes was $580,000 and the average price per square foot was $277 . Comprising of this total were 12 short sale properties, and 8 bank owned foreclosure homes, for a total of 20 distressed homes that have sold in Laguna Hills in the past 3 months. This number of distressed sales is 49% of the total, and the median price was $515,000 , and the average price per square foot was $245 .

For attached condos, there have been a total of 49 condo sales in the past 3 months. The median price was $262,000 , and the average price per square foot was $213 in Laguna Hills . In addition, there were 17 short sale condos that sold and closed, and another 11 REO units that sold in the past 90 days. This was a total of 28 distressed condos, which is 57% of the total number of units sold in this period. The median price of the sold condos was $234,000 , and the average price per square foot was $182 .

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

Aliso Viejo Short Sale Realtor report.

by vbindi on February 10, 2010

This report is for standard sales, short sales and bank REO sales statistics 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 41 detached homes listed for sale in Aliso Viejo , California. The median price of these active homes for sale is $585,000 and the average price per square foot is $293 . Of this total, 19 are short sale listings active for sale, and another 1 are bank owned REO’s, for a total of 20 financially distressed single family homes in Aliso Viejo . These distressed home listings represent 49% of the total inventory of detached homes for sale. The median price of these distressed properties is $570,000 and the average price per square foot is $265 .

For attached condominiums, there are 68 condo units currently listed for sale in Aliso Viejo . The median price for these listed condominiums is $349,000 and the average price per square foot is $270 . Of this total, 43 short sale condo listings, and another 3 are bank owned foreclosed condos listed for sale in Aliso Viejo , for a grand total of 46 financially distressed condo listings. The median price of these distressed condos is $319,000 , and the average price per square foot is $256 . The ratio of distressed condo listings to the total listings is 68% .

Currently, there are 57 detached homes under contract in escrow, and the median price of these pending properties is $529,000 . Of this total pending properties, 37 are short sales, and another 2 are bank owned REO properties. This is a total of 39 financially distressed homes, which is 68% of the total detached properties in escrow in Aliso Viejo , and the median price is $550,000 .

For condominiums, there are now 132 attached units in escrow, and the median price is $310,000 . Of this number, 101 are short sales in escrow, and 14 are bank owned REO condos in escrow in Aliso Viejo . This total of 115 distressed condos is 87% of the total units in escrow, and the median price is $357,000 .

In the past 90 days, there have been a total of 70 detached homes that have sold and closed escrow in Aliso Viejo . The median price of these sold homes was $542,000 and the average price per square foot was $288 . Comprising of this total were 17 short sale properties, and 7 bank owned foreclosure homes, for a total of 24 distressed homes that have sold in Aliso Viejo in the past 3 months. This number of distressed sales is 34% of the total, and the median price was $534,000 , and the average price per square foot was $286 .

For attached condos, there have been a total of 126 condo sales in the past 3 months. The median price was $320,000 , and the average price per square foot was $252 in Aliso Viejo . In addition, there were 50 condos that sold and closed, and another 27 REO units that sold in the past 90 days. This was a total of 77 distressed condos, which is 61% of the total number of units sold in this period. The median price of the sold condos was $290,000 , and the average price per square foot was $238 .

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. Therefore, property owners who owe more than their home is worth, should 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.

Ladera Ranch Distressed Property Realtor Report

by vbindi on February 4, 2010

We specialize in short sale listings here in Ladera Ranch.  We have gathered statistics for active listings and sales statistics for all listings, short sales and bank owned REO properties for Ladera Ranch residential real estate, which is reported herein. Currently there are 69 detached homes listed for sale in Ladera Ranch, CA. Of this total, 26 are Short Sale properties, and 2 are bank owned foreclosures, for a total of 28 financially distressed homes listed for sale, which represents 40% of total.

For attached condominiums, there are a total of 31 units currently listed Active for sale in Ladera Ranch. Of this total, 17 are pre-foreclosure short sale properties listed for sale, and 4 bank owned REO condos listed for sale. This is a total of 21 financially distressed condos which represent 68% of the total.

Now will look at properties Pending under contract and sold in the past 90 days. for detached homes in Ladera Ranch, there are a total of 90 detached homes under contract Pending in escrow. Of this total, 75 are short sale properties, and another 5 detached homes in escrow are bank owned foreclosures. There is a total of 80 distressed properties, which represents a whopping 88% of all detached homes in escrow are financially distressed in Ladera Ranch at this time.

For condos, there are currently 71 attached units pending in escrow in Ladera Ranch. Of this sum, 58 are short sales pending in escrow, and 8 are bank owned REO condos in escrow. This is a grand total of 66 financially distressed units in escrow, which is 93% of the total.

In the past 90 days, there have been a total of 84 detached homes that have sold and closed escrow in Ladera Ranch in the past 90 days. Of this total, 28 are short sale listings that have closed escrow, and 7 were bank owned REO properties. This is a total of 35 financially distressed homes that have sold and closed, which results in 41% of the detached homes sold in the past 90 days were financially distressed in Ladera Ranch.

For condos, the results are very similar. There were 40 attached condos that have sold and closed escrow in Ladera Ranch. Of this amount, 21 are short sale listings, and 3 were bank owned foreclosure condos. This represents a total of 24 financial distressed condos that have sold, which is 60% of the total sold condominiums in Ladera Ranch.

Of note, is the fact that most of the properties that are selling in Ladera Ranch are financially distressed. We find this same result in many other Orange County cities for buyers are currently shopping for bargain priced homes.

Also of interest is the fact that for properties under contract Pending in escrow, about 90% of all escrows are financially distressed properties. Although when you look at properties that have actually closed escrow, that ratio drops down substantially to 41% for detached homes, and 60% for condos. We also find this large decrease in other Orange County cities as well. This is due to the fact that many short sale properties are being conducted by Realtors who have very little experience in these complex transactions and this results in a high failure rate.

An important fact for Ladera Ranch homeowners is there are only a handful of short sale experts who specialize in bank negotiations and sales, and close at a rate of 95% or more, such as our team at Short Sales ASAP. For questions, please feel free to email us at: Info@ShortSalesASAP.com or call us at: (949) 254-4775.

Report States Short Sale better than Foreclosure

by vbindi on September 19, 2009

ORANGE COUNTY, CA:  A recent report from the Amherst Securities Group shows that in most cases, short sales are a  more effective loss mitigation approach, as they minimize loss severity, as compared to Foreclosure.

The Amherst Securities study shows that the loss severity on Short Sales is 15% to 20% less than the average losses bank take for Foreclosures.  Federal officials  have created financial incentive programs that now encourage banks and servicers to pursue short sales and in-lieu of Foreclosure.

In addition, and New Program has been created  to help some troubled homeowners.  The new Short Sale and Buy program allows some property owners to Short Sale their existing home, and buy a similar replacement home at today’s very low property values, while using a 3.5% down FHA loan.  We will write about this new program as new details are published.

In addition, many banks and servicers are now passing on their Federal incentives.  These Banks are now offering Cash for Cooperation of up to 1% of the Sale price, to encourage struggling homeowners to cooperate with a short sale, versus letting the home go to Foreclosure.

For information about short sales, or your home mortgage situation, please feel free to contact the Experts at Short Sales ASAP, at:  949-388-3396, or email at:  Info@ShortSalesASAP.com

Long Beach Short Sale Realtor Success Story #26

by vbindi on September 8, 2009

Long Beach Short Sale Case Study #26: The ShortSalesASAP team of experts have closed another short sale in Long Beach CA.   We close over 95% of our Short Sales, but unfortunately, only about 20% of short sales close statewide.   We will outline this short sale process, but withhold some of the financial and property details to respect the privacy of the short seller.

The subject property was a single story, ranch style family detached home located in the Los Altos community of Long Beach.  The home was a 3 bedroom, 1 bath,  1,200 square feet,  built in 1956.

This home was purchased in the Spring of 2006′ for $575,000.    The financing consisted of a 10% down payment, with a $460,000 1st mortgage with Wells Fargo, with a $57,500 2nd mortgage with Citbank.  This is commonly called a 10/10/90 loan, in the which the 1st loan was a fixed rate loan, and the 2nd was an adjustable rate mortgage.

The local market conditions in southern California and Long Beach has suffered a severe market correction.   Property values have dropped about 40% since the height of the market in Spring of 2006′.  Southern California, has been hit hard by the nationwide mortgage loan crisis and regional recession.  Due to this factors,  one of the spouses lost their job, and the other had their bonuses curtailed.  This big drop in income, caused the property owners to become delinquent on the mortgage payments.   Their debt to income ratio was to low to qualify for a loan modification.  The property owners contacted us regarding a short sale in the Fall of 2008′.

Our short sale Realtor met with the owners and gathered the necessary short sale documents that the Banks require.  Our team packages this information in the format that the Banks require,  along with other market data and presented the short sale case to the Banks.  After some expert negotiations with the 1st and 2nd mortgage holders, we negotiated preliminary terms and conditions for the short sale.

With the Short Sale preliminary approved, we started the Marketing of this Long Beach home for sale.  The house was listed for sale for $365,000, which was the market value at that time. After a period of about 22 days, we obtained a purchase offer from a qualified buyer for $350,000.  After one  counter offer, the buyer and seller agreed upon a price of $359,000.

Our listing Realtor obtained all  signatures, and reviewed loan qual status of the buyer.   Escrow was opened,  and our short sale team packaged the  new purchase offer, along with Buyers loan qualification paperwork, and submitted the package to the 1st and 2nd mortgage banks.  Our negotiation specialist persuaded both the 1st lender and 2nd lender to agree to the short sale offer.

At close of escrow, the entire $517,500 in total 1st and 2nd mortgage debts were retired.  In addition, our expert negotiator was able to obtain a $2,500 cash rebate for the home seller, paid by the the 1st mortgage bank, which is referred to as “Cash for Cooperation”.  The seller rented a similar Long Beach home and saving over $1,200 per month. In addition, the homeowner is now working with our credit Restoration affiliate firm and will be able to buy another home early next year.

ShortSaleASAP is licensed with the California Department of Real Estate, and our services are free to the homeowner, for we are paid by the mortgage bank(s). If you have any questions regarding Short Sales, contact our team of experts at:   (949) 388-3396 or drop us an email at: Info@ShortSalesASAP.com

Laguna Beach Short Sale – Realtor Case Study #37

by vbindi on August 25, 2009

Laguna Beach Short Sale Success Story #37 -  Another short sale has been sold and closed by the  ShortSalesASAP Group here in Laguna Beach, CA.  The Short Sales ASAP group is #1 in Short Sale closings in Orange County.  We have been sharing many of our success stories for the benefit of the public who may be caught in today’s mortgage loan crisis.  Short Sales are not easy to close, so it is imperative that one seeks a Realtor expert to conduct such a transaction.  Some of the details of this short sale story will not be divulged in order to protect the privacy of the past property owner.

Property and Finance Details: This Laguna Beach property was a 3 bedroom, 3 bath, 1,550 square foot detached home with a panoramic ocean view.   This home was purchased in January of 2006′ for $1.15Million, using 90% financing which resulted in a first mortgage loan of $1,035,000.  The homeowner had to move back east, and tried to sell the home using traditional methods, but was not able to do so.

Laguna Beach Real Estate Market Conditions: The real estate market here in southern California has been gone through a major price correction.  Laguna Beach has suffered a large decline in real estate prices, but not as bad as  other Cities in Orange County.   This severe real estate recession is due to the overheated southern California market that started in 1999, the nationwide mortgage crisis, and job losses here in Orange County.  Although, we now see signs that price decreases have slowed down considerably, and we may be approaching the bottom of the market cycle pricing.

Only 37 % of Short Sales actually sold and closed escrow in Laguna Beach in the past 12 months.  Whereas, the ShortSalesASAP Group closes over 94% of our short sale listings.

SHORT SALE – PHASE:  The homeowner contacted us via a referral, and we answered all of their questions and concerns regarding short sales.  The property owners signed the  listing agreement and short sale addendum, and our preparation team gathered all of the required documents from the homeowner.  These documents were carefully packaged in the format required, and delivered to the 1st mortgage bank to present the short sale proposal.   3 weeks later, and after some cunning negotiations, our expert team was able to obtain preliminary approval for the Short Sale.

MARKETING AND SALES – PHASE:   Once we obtained the preliminary short sale approval, we put this Laguna Beach property on the market for sale.  It was originally listed in the Multiple Listing Service (MLS) for $950,000.   After about 3 weeks on the market with very little interest, we dropped the price again to $925,000.  We obtained an offer from a qualified buyer for $850,000.  After some negotiations with our short sale Realtor expert, we finally arrived at a price of $872,000.

CLOSING – PHASE:  Once all of the purchase contract documents are signed by the buyer and seller, our team packages theses documents along with the buyer loan qualification letter. This package was then sent to the 1st mortgage Bank.  Our short sale negotiator then went to work to finalize the final terms and conditions of this short sale.  After some additional negotiations, we convinced the  Banks to agree to the final short sale.    The property escrow then closed 35 days later.

IN SUMMARY: The entire mortgage debt of $1,035,000 was eliminated so that the homeowner did not owe this money anymore.  We were also able to negotiate $2,500 from the Bank to pay to the homeowner, which is referred to as “Cash for Cooperation”, which many banks are now offering as an incentive to homeowners to cooperate with a short sale, versus letting the property go to Foreclosure.

ShortSaleASAP is licensed with the California Department of Real Estate, and we are members of good standing with the Orange County board of Realtors. We train Agents Nationwide how to conduct short sales, and have been interviewed by CNNMoney, ABC World News Tonight, OCRegister and others.  Our services are free to the homeowner, for we are negotiate our fee with  the mortgage bank(s). If you have any questions regarding Short Sales, contact our team of experts at: (949) 388-3396 or drop us an email at: Info@ShortSalesASAP.com

Irvine Short Sale Statistics

by vbindi on July 14, 2009

Our Company, the ShortSalesASAP group, has complied Short Sale statistics for the city of Irvine.  Currently there are 321 Condos currently Active for Sale in Irvine, and 105 of these listing are Short Sales, representing about 1/3 of the available inventory.  These Short Sale listings range in price from $130,000 for a 1 bedroom, 1 bath on up to $1,499,000 for a 3 bedroom, 4 bath, 2,677 square foot high rise condo.  The median price for these short sale condos is $415,000.

For condos under contract, there are 225 total condominiums that are Pending or Backup in escrow.  Of these,  116 are Shorts Sales in Escrow, which represent nearly 1/2 of the Pending inventory.   These Short sale condos range in price from $130,000 for 1 bedroom, 1 bath,  up to $1,575,000 for 3 bedroom, 4 bath, 2,685 high rise condo in Irvine.

In the past 90 days, there have been 270 Condos total that have sold and closed escrow in Irvine, CA.   Of this total, 45 were Short Sale condominium closings which represents approximately 17 percent of the closings in the past 3 months.   These closed units range in price fro $232,000 for a 1 bedroom, 1 bath unit on Alicante Aisle, up to $700,000 for a 2 bedroom, 2 bath, 1,674 square foot condo on Scholarship drive.  The median priced short sale condo sold in Irvine in the past 90 days was $375,000

Today, there are a total of 277 detached homes currently Active for sale in Irvine.  Of this total, 38 are Short Sale listings which represents jsut 14% of the total inventory of homes for sale in Irvine.  These detached SFR short sale homes for sale range in price from $399,900 for a 2 bedroom, 2 bath home in the Vista Filare tract, up to $4,080,000 for a 5 bedroom, 6 bath, 8,700 square foot estate in the Turtle Rock community.

For SFR homes under contract, there are a total of  171 currently in Escrow..  Of this total, 63 are Short Sale listings pending in Escrow which represent 37% of the total Pending inventory.  These short sale homes in Escrow range in price from $290,000 for a 2 bedroom, 2 bath condo in the Bowen Court tract, on up to $1,800,000 for a 5 bedroom, 5 bath, 4,75 estate in the Vicara community.

In the past 3 months, there are a grand total of 275 detached homes that have sold and closed in Irvine.  Of this amount, 44 are Short Sale homes that have sold which represent 16% of the total closing inventory for Irvine in the past 90 days.  These detached homes range in price from $365,000 for a 2 bedroom, 2 bath, 1,133 square foot home in Orangetree community, up to $1,780,000 for a 5 bedroom, 6 bath, 4,33 square foot estate in the Amberhill subdivision of Irvine.  The median price of these short sale homes that have sold in the past 90 days is $675,000.

Our Company, the ShortSalesASAp group, specializes in Short Sale negotiations, marketing and sales in Irvine and surrounding communtites.   We have over a 94% closing rate success.  We maintain an ongoing retainer with a California Attorney who specializes in Short Sale contractual issues.  Our services are free to our clients for we negotiate our fee with the mortgage banks, and we also pay for our own Lawyer fee’s, so there are no out of pocket costs to our clients.  For more inforamtion about short sales in Irvine, please feel free to contact us at:  (949) 388-3396, or visit our website:  Irvine Short Sale Services,  or email us at:  Info@ShortSalesASAP.com

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