by vbindi on March 16, 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 Santa Ana . 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 Santa Ana , California. The median price of these homes for sale is $349,900 and the average price per square foot is $240 . 142 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 178 condominiums listed for sale in Santa Ana . The median price for these listed condominiums is $150,000 and the average price per square foot is $184 . Of this total, 96 are short sale listings. The median price of these short sale units is $135,000 , and the average price per square foot is $163 . The ratio of short sale condo listings to the total listings is 34% .
For homes under contract, there are 393 detached homes in escrow on this date, and the median price is $302,900 . Of this total, 243 are short sales in escrow, which is 58% of the total detached properties in escrow in Santa Ana , and the short sale median price in escrow is $280,000 .
For condominiums in escrow, there are now 304 attached units under contract, with a median price of $140,000 . Of this number, 227 are short sales, which calculates to be 75% of the total pending units, and the median price is $139,900 .
In the past 3 months, there have been a total of 270 detached homes that have sold and closed escrow in Fullerton . The median price was $330,000 and the average price per square foot was $236 . Of this total were 74 were short sale properties in the city of Santa Ana in the past 3 months. This number of sold short sales is 19% of the total. The median price was $270,000 , and the average price per square foot was $213.
In the past 90 days, there have been a total of 187 condo sales with a median price of $140,000 , and an average price per square foot of $152 in Santa Ana. Also, there were 65 short sale condos sold, which was 27% of the total number of units sold in this period. The median price of the sold short sale condos was $130,000 , and the average price per square foot was $146 .
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 Santa Ana 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.
by vbindi on March 14, 2010
This report is for standard sales and short sales in Westminster, Ca. 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 89 detached homes listed for sale in Westminster , California. The median price of these active homes for sale is $475,000 and the average price per square foot is $312 . Of this total, 28 are short sale listings active for sale. . These short sale listings represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $420,000 and the average price per square foot is $283 .
For attached condominiums, there are 23 condo units currently listed for sale in Westminster . The median price for these listed condominiums is $388,000 and the average price per square foot is $288 . Of this total, 7 are short sale condo listings. The median price of these short sale condos is $399,900 , and the average price per square foot is $238 . The ratio of short sale condo listings to listings is 34% .
Currently, there are 90 detached homes under contract in escrow, and the median price of these pending properties is $419,000 . Of this total pending properties, 56 are short sales, which is 58% of the total detached properties in escrow in Westminster . The median price is $399,000 .
For condominiums, there are now 29 attached units in escrow, and the median price is $282,000 . Of this number, 22 are short sales in escrow in Westminster . These short sale condos are 75% of the total units in escrow, and the median price is $275,000 .
In the past 90 days, there have been a total of 98 detached homes that have sold and closed escrow in Westminster. The median price of these sold homes was $430,000 and the average price per square foot was $289 . Of this total were 25 short sale properties, which was 19% of the total sales. The median price was $420,000 , and the average price per square foot was $262 .
For attached condos, there have been a total of 32 condominium sales in the past 3 months. The median price was $315,000 , and the average price per square foot was $238 in Westminster . In addition, there were 14 short sale condos that sold and closed escrow dueing this same period of time, which was 27% of the total number of units sold. The median price of the sold short sale condos was $265,000 , and the average price per square foot was $210 .
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 Westminster short sale realtor. For more information, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.
by vbindi on March 11, 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 Fullerton . 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 , California. The median price of these homes for sale is $2,995,000 and the average price per square foot is $770. 8 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 32 condominiums listed for sale in Newport Coast . The median price for these listed condominiums is $795,000 and the average price per square foot is $318 . Of this total, 4 are short sale listings. The median price of these short sale units is $795,000 , and the average price per square foot is $398 . The ratio of short sale condo listings to the total listings is 34%.
For homes under contract, there are 30 detached homes in escrow on this date, and the median price is $2,720,000 . Of this total, 9 are short sales in escrow, which is 58% of the total detached properties in escrow in Newport Coast , and the short sale median price in escrow is $1,395,000.
For condominiums in escrow, there are now 10 attached units under contract, with a median price of $799,000 . Of this number, 4 are short sales, which calculates to be 75% of the total pending units, and the median price is $825,000.
In the past 3 months, there have been a total of 31 detached homes that have sold and closed escrow in Fullerton . The median price was $1,925,000 and the average price per square foot was $588 . Of this total were 3 were short sale properties in the city of Fullerton in the past 3 months. This number of sold short sales is 19% of the total. The median price was $1,425,000 , and the average price per square foot was $409.
In the past 90 days, there have been a total of 8 condo sales with a median price of $650,000 , and an average price per square foot of $445 in Fullerton . Also, there were 1 short sale condos sold, which was 27% of the total number of units sold in this period. The median price of the sold short sale condos was $980,000 , and the average price per square foot was $520.
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 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.
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 |
==============
| 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
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.
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.
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.
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.
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.
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
