dana point: Distressed Sales Sink to 10% of Market for August 2013 - 09/12/13 06:23 AM
Latest Orange County Real Estate Stats
The Orange County real estate market continues to shift as fewer distressed sales made up the final closed transactions for the month of August 2013.  Just 10% of closed sales were foreclosures, short sales, REO properties, down from 14% in July.
What does this mean to home sellers and buyers?  Generally a distressed property will sell for less than a standard equity sale.  This is due very often to the condition of the property, the length of time to process the transaction-such as a short sale-and very often the home being sold in "as-is" condition.
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