So You Want to Buy a Foreclosure
I hear from buyers frequently that are interested in buying a foreclosed home / bank owned property. Sadly, in the under $750,000 market, the competition is brutal. Many times those with 20% down or more will trump those entry level buyers with FHA or VA financing. Even with a strong, high down payment offer, the process is very challenging, listing agents are inaccessible, and offers go into an email black hole. If you are frustrated, you are not alone. Buyers and agents alike are very di…
Read more...Foreclosures Will Be on the Rise
No crystal ball needed here - we are about to see a sharp increase in foreclosures in the coming months. The foreclosure report for the month of March was recently released by Foreclosure Radar. During the final months of 2008, many lending institutions participated in a voluntary moratorium on…
Read more...Microscope on the Market – Laguna Niguel
So many of the media numbers focus on Orange County performance, but real estate performance can vary dramatically within our large county, and particularly at various price points. Today's Microscope on the Market focuses on the Laguna Niguel real estate market. Homes Under $500,000 # of Sales Short Sales Bank Owned Equity Sellers Active 119 63.9% 5% 31.1% In Escrow 71 53.5% 29.6% 16.9% Closed* 18 27.8% 38.9% 33.3% In the under $500,000 mark…
Read more...2008 Housing Review and 2009 Predictions
Steven Thomas, President of Altera Real Estate recently released his latest Orange County Housing Report and it is definitely worth taking the time to review if you are curious about how the 2008 housing market finished and the possible outlook for 2009. It's a very comprehensive summary. I would encourage you to review the charts for Active Listings and Pending Sales. I love the way that it visually lays out the '05, '06, '07, and '08 numbers for comparison. One thing worth noting is th…
Read more...Foreclosures Making it Tough for the Traditional Seller
Even in a tough market for sellers, there are still those that must sell due to personal circumstances. Whether it's a divorce, job relocation, or financial strain - there are still homeowners with equity, that find themselves in the position of having to sell and in this market, that can pose som…
Read more...What Is a Good Deal?
The new buyer profile today is understandably looking for a 'good deal'. With the major changes we've seen in Orange County in the last 2 years, the buyers that feel ready to jump into the market are consistently saying, 'If I find a good deal...' So what is a 'good deal'? Let's examine the potential opportunities. There are 3 types of listings that are predominately found in the active market today: Short Sales Bank Owned (or REO's) Traditional Sellers Short Sales: A short…
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Linsey Planeta
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