bank owned: Foreclosures Will Be on the Rise in Orange County - 04/20/09 12:17 PM
No crystal ball needed here - we are about to see a sharp increase in foreclosures in the coming months. The foreclosure report for the month of March was recently released by Foreclosure Radar.
During the final months of 2008, many lending institutions participated in a voluntary moratorium on foreclosures. Notice of Defaults (NOD's), the first step in the foreclosure process in California, plummeted. The final days on the moratoriums have just passed. Fannie Mae and Freddie Mac's were lifted as of March 31.
And if you've been paying attention to my 'Microscope on the Market' series, you've noticed the drop … (6 comments)

bank owned: Microscope on the Market - Rancho Santa Margarita - 01/06/09 03:47 AM
When you are looking to buy a home in Orange County, or anywhere else for that matter, it is critical to drill down into the numbers for the sector of the market that you are looking at. Orange County numbers are wonderful benchmarks to know, but our market is made up also of submarkets within the OC. It's important to understand Absorption Rates, Average Days on Market, price per square foot, sale price to list price, etc.
For every buyer I'm working with, I try to do an analysis that really tells the story of the market they are hoping to … (2 comments)

bank owned: It's a Buyer's Market - Or Is It? - 11/24/08 06:09 PM
My last post had quite a heated debate on Active Rain (which I dig BTW).  How do you educate clients about when to buy?
I did some research for a client tonight. The findings are important to share with readers here.  If you are a serious buyer or seller, this information is telling.  Please stick with the tedium of the stats because the story it tells is meaningful.
My particular buyer is looking in Mission Viejo between $450,000 and $550,000.  He wants a single family residence.  With that criteria, I hit the MLS looking for a picture of where we really … (4 comments)

bank owned: Trying to Find a Good Deal In Orange County - Know Where to Look - 08/28/08 09:16 AM
As agents, we are continually hearing our clients request a 'good deal'. 
But I understand the thinking.  For a buyer, if they have to stand around a water cooler and justify jumping into this crazy real estate market, the best defense is 'I got such a great deal!'
But where are the great deals in Orange County?  I recently responded to a question on Trulia Q & A about where to write an offer on an Orange County REO.  The first answer was from an out of area agent stating that 30% under asking was a good place to start.  It … (5 comments)

bank owned: Market Conditions in Rancho Santa Margarita - 05/28/08 10:44 AM
The short sale condition in South Orange County continues to have a severe impact on our market and on prices.  Until some of the Bank Owned and Short Sale inventory diminishes - we will continue to have pressure on prices.
That being said, you can see from the following graphes that the # of escrows is on the rise.  Whether that is temporary seasonal buying, or an actual improvement in our market remains to be seen but I suspect the former.

If you break down the inventory by price, the number of distress sales is even more alarming in the … (0 comments)

 
Linsey Ehle (M Realty)

Linsey Ehle

Rancho Santa Margarita, CA

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