foreclosure: Number of Short Sales On The Rise - 11/16/09 10:16 PM
Throughout the county short sales - a sale of a home for less than is owed on its mortgage – are up.
The rise is shorts sales may help explain the increase in home transactions at a time when they are usually falling. Usually home sales decrease after August but … (2 comments)
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foreclosure: O.C. Hotels In Trouble - 10/19/09 08:40 PM
16 hotels in Orange County and 307 statewide have been foreclosed upon or are in default of
their loan obligations.
In January 9 hotels in Orange County closed compared to one the year before. Last month there were 1,823 rooms in default when there was only 238 last year.
Throughout … (0 comments)
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foreclosure: Buyers Pay 3% More For Foreclosures - 09/21/09 10:10 PM
Last week the number of O.C. distressed properties was 2,384, down 132 homes from two weeks ago.
The average sale to list price ration for foreclosures throughout the past three months have been 103%, on average foreclosures are selling for 3% above the list price.
In general short sales are … (1 comments)
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foreclosure: Millions More Foreclosures Expected - 09/11/09 01:08 AM
Despite President Obama’s implementation of the Home Affordable Modification Program, millions more foreclosures
are expected to hit the housing market.
This does not mean that the HAMP is not working, we seem to forget that even prior to the current housing crisis many hundreds of thousands of homes were still being … (3 comments)
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foreclosure: Over 8,000 Mortgages Face Foreclosure - 09/02/09 09:21 PM
At the end of July there were 8,346 outstanding foreclosure auction notices in Orange County, which is an increase of 12%
from June and more than double the year ago total.
Some of the data may be skewed because of the mortgage modification plan but in place by the Obama administration. … (1 comments)
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foreclosure: 800 O.C. Homes Foreclosed in July - 08/20/09 06:32 PM
In Orange County, 806 houses and condos were foreclosed by lenders in the month of July which is down 41% from last year.
Foreclosures peaking in August 2008 at 1,441 but they have decreased over the last 11 months due to state and federal efforts to prevent foreclosures. Unfortunately mortgage … (0 comments)
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foreclosure: Available Foreclosures in O.C. Decreasing - 04/22/09 12:15 PM
The latest property statistics show that there were only 613 bank-owned foreclosures for sale in Orange County last week. The current expected market time for foreclosures at 19 days compared to 3 months for all homes on the market.
Distressed properties account for 37.9% of the total market. Out of … (0 comments)
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foreclosure: More Foreclosures In OC Being Held - 04/04/09 02:27 PM
In the month of February real estate-owned properties (REOs) accounted for 0.8% of all outstanding mortgage loans in Orange County. This figure is up from 0.6% a year ago but down from January’s figure of 0.9%. This change in figures – although small – suggests that the total inventory of unsold … (0 comments)
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foreclosure: Central Orange County Hit Hard By Foreclosures - 03/01/09 06:08 PM
Central Orange County is getting hit the hardest with the amount of foreclosures.
Four ZIP codes in Santa Ana had the highest concentration of foreclosures in the county for the second quarter. The ratio of foreclosures to the total number of houses and condos doubled in some of the ZIP … (0 comments)
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foreclosure: O.C. Million Dollar Homes Face Foreclosure Crisis - 02/11/09 09:44 PM
Approximately 1,718 homes that had previously sold for $1 million or more were either seized by a bank or on the brink of foreclosure last year.
In 2008 its reported that 2,862 home sales of $1 million or more took place in Orange County. Orange County records also show that … (1 comments)
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foreclosure: Almost 6,000 Properties In Foreclosure In Orange County - 02/10/09 08:00 PM
Statistics show that in Orange County during the month of December there were 5,991 foreclosure filings on houses and condos. That number does not account for properties that were already foreclosed and is equal to a ration of 1.3 percent of all outstanding mortgages in the county.
Overall Orange County … (0 comments)
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foreclosure: How Can The Government Help The Foreclosure Problems? - 02/05/09 10:52 PM
The director for the Center for Economic and Policy Research in Washington D.C. has released an article in which he reveals the problems that all government efforts face when trying to deal with the foreclosure epidemic we are facing.
He states:
“While Congress and policymakers are debating various plans for … (1 comments)
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foreclosure: Distressed Properties Account for Nearly Half of the O.C. Home Market - 02/01/09 09:25 PM
In Orange County distressed properties (home listed as foreclosed or short sale) account for 44.2% of all listed homes for sale. In other Southern California counties: San Diego (46% distressed), Riverside (68%), San Bernardino (60%) and LA (41%).
Out of the Orange County homes listed for sale under $1 million 52% … (2 comments)
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foreclosure: Number of Pre-Foreclosure Filings Double In December - 01/22/09 07:54 PM
The number of filings that start the foreclosure process nearly doubled in Orange County from November to December of 2008. This chart tracks notices of default and foreclosures since June. The chart clearly shows the decline in foreclosure activity due to the enactment of SB 1137 in September and its subsequent … (0 comments)
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foreclosure: SUPPLY OF DISTRESSED HOMES FOR SALE IN OC DROPS 7% - 01/10/09 08:59 PM
The newest O.C. home market report says the following facts about distressed properties (which are properties that are listed as bank-owned foreclosure or short sales where lenders take less than they are owed):
The number of distressed properties on the market is down 7.2% from last year with 5,379 on … (0 comments)
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foreclosure: Banks discount O.C. homes 30% at foreclosure auctions - 10/08/08 05:11 PM
Banks discount O.C. homes 30% at foreclosure auctions. This was the average of the total number of 1,166 home loans sold. Of these, there were 1,048 or 90% that received some discount in their mortgage value.
The Orange County real estate market remains troubled. The severity of the housing troubles is … (5 comments)
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foreclosure: Now is the Time to Buy Foreclosure Properties in Orange County - 08/20/08 05:34 PM
Orange County, California is one of the most desirable locations for homeowners in the state and perhaps the nation.
With the average home price in California on the rise, combined with the slowing housing market, many prospective homebuyers are choosing to purchase foreclosure properties throughout California.
Purchasing a … (0 comments)
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foreclosure: Early foreclosure filings dip in June for Orange County - 07/30/08 02:49 PM
Two data trackers RealtyTrac and Foreclosures.com, report that notices of default – filings that begin the foreclosure process – to Orange County homeowners dropped in June this year.
RealtyTrac, the Irvine-based market tracker, reported that banks filed 2,431 notices of default (NODs), down 7% from the previous month. The other … (1 comments)
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foreclosure: Forclosure Threat spreads in Orange County - 07/30/08 01:14 PM
The second Quarter has been ugly for foreclosure rates, and there is potential for even more foreclosures in the Orang County area.
In only the first and second quarters of this year, foreclosure and default notices far exceded all those of 2007.Within the next few days the Rigister will publish … (2 comments)
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foreclosure: Where will the next round of foreclosures come from? - 07/14/08 05:57 PM
Just when we think the Feds new lifeline is going to solve this mortgage crisis mess, the next round of foreclosures will hit the market, drive prices even lower and create negative economic impact on communities. Those areas that have seen home prices spiral downward are still going to experience a … (0 comments)
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