southern california: The Numbers Are Encouraging if You Understand Them - 08/07/08 10:52 PM
This is a buyer's market so obviously the numbers are encouraging to them, not sellers.  But, if you think the market is stagnant, if you think people are sitting around waiting, you would be wrong.  It is not unusual for any property under $600,000, but especially for a bank owned one to have 6 to 12 offers or more.  Orange County had 1,184 bank owned properties in the MLS as of July 11.  How many were bought in May? Just about half of them sold with a total of 570.  Time needed to sell all foreclosed homes?  That was a low … (1 comments)

southern california: It's Important to Understand the Housing Market Regionally as Opposed to Nationally - 08/06/08 10:42 PM
This is probably the biggest hurdle the real estate industry has to get over in the minds of consumers.  Unfortunately a lot of the news out there is the dismal outlook for national housing.  Regions such as the mid-west, specific cities such as Detroit, or sub-prime havens such as Riverside and San Bernardino or even Las Vegas and Phoenix, have many more problems than we do here in Orange County and Los Angeles.
That is not to say that prices are not poised for a further drop, because they are.  There is more on that in the next section.  But it … (5 comments)

 

Stacey Sloan

Yorba Linda, CA

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