Update on South Orange County Foreclosures, REO, or Bank-Owned Properties - 10/30/07 02:07 PM
After posting my list of interesting (and potentially profitable) properties that are foreclosed, bank-owned, REOs, I checked back to find that 7 of the 9 have already sold.  While I had really thought that these represented the best values in that category, it was still nice to see my insight confirmed. 
New foreclosures are coming on the market at a brisk rate, and I'm continuing to monitor them.  Today's best deals that I have found are:Aliso Viejo Detached Condo - $574,900 - (Last sale $730,000)  4 bedroom, 3 bath, 1600 sq ft, 2 car garage.  Mello-Roos approximately $1500/year.
Lake Forest Condo -  $369,000 … (4 comments)

Foreclosures, Bank Owned, REOs in Orange County California - 10/25/07 04:34 PM
There are currently 494 properties in the Orange County MLS that are coded as Bank Owned, REO or Foreclosures.  There are probably more that aren't coded correctly, but I'm not going to sift through all 17,700 properties that are currently on the market to find them.  Most of these are priced very close to "market value" for owner-occupied homes, but there are a few that stand out in the crowd as worthy of consideration for bargain hunters.
Unless there are multiple offers, my experience with foreclosed properties in the last real estate downturn (mid-nineties), is that there can be some negotiating room … (3 comments)

Lake Forest Real Estate Market - October 2, 2007 - 10/02/07 03:32 PM
Lake Forest Real Estate Market Conditions - October 2007 
Like many areas across the country, the Lake Forest, California real estate market is chugging along at a snail's pace!  Between the mortgage availability issues and the fear of price declines, buyers seem to be sitting on the fence and it's hard to say when they will start to jump off!
Overall, we are now at a 16+ month inventory level when you compare the active properties to those that closed in the last 90 days.  The turmoil in the mortgage market has resulted in fewer buyers being able to qualify for "jumbo loans" of over $417,000, … (7 comments)

 
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Vicki Lloyd ~ (949)457-0281 Lake Forest and South Orange County, CA

Lake Forest, CA

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The Real Estate Professionals

Address: Lake Forest, CA, 92630

Office Phone: (949) 457-0281

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Vicki Lloyd shares her views of all things real estate related in Orange County, California.

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