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 being encouraged because they are in much better condition than foreclosures and save the lenders a lot on repairing and carrying costs.   There are currently 2,050 short sales on the market with an expected market time of 1.58 months, much different than just one year ago when there were 4,422 short sales with an expected market time of 6.2 months

Distressed properties accounted for 29.6% of the market last week compared to accounting for  30.1% two weeks earlier.