Special offer

Investors Are Buying Foreclosures

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781

There is a trend that a lot of the distressed properties are being picked up by investors, investors are buying up the foreclosures.  In the month of February the investors bought more than double the number of properties at foreclosure auctions in Orange County than they had one year ago. 

The investors are buying 287 properties that are foreclosures and one year ago they purchased 140 properties. 

This is a very competitive purchase at the court house steps with bidding wars and a requirement that the purchase be a cash purchase.  

This statistic is amazing when you consider that the purchases increased while the foreclosure sales are dipping with less inventory.

Comments (8)

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Tim they are buying the homes up in droves.  They realize good deals when they see them.

Mar 25, 2010 01:07 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I totally agree and we need to let it happen and we need to get others to participate and then the market may catch on.

Mar 25, 2010 05:12 PM
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Tim, investors are a big part of our economic recovery.  They are also buying short sales!!  Do you have any short sale listings available?

P.S. love your sunset photo!

Mar 25, 2010 05:57 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Regina,

Yes we always have short sale properties for sale 9 under contract and 2 that are not.

Mar 26, 2010 02:15 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Tim, there are investors buying here also. We just sold a 4-plex to a guy from California! What a great deal he got.

Mar 26, 2010 02:37 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

There are people that have money and are willing to purchase anything that makes since.

Mar 26, 2010 04:36 AM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I know and they also seem to be putting alot of them back on the market fixed up.

Mar 26, 2010 04:40 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Mark,

Yes they are and the filps are working and someone is making some serious coin.

Apr 02, 2010 09:46 AM