Here is Another Report on Homes That Are Less Than The Homeowner's Mortgage

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

Hereis another report on homes that are lessthan the homeowner's ripe for a short sale.  I do not know if the general population of homeowner knows the meaning of short sale.  I do know they know when their e  is upside down. 

The number of homes that are upside down in Orange County increased in 2010 according to CoreLogic.  In all 99,261 homes are upside down.  Thosee aree all properties with negativee equity.  That would account to 17.7 percent of thehomes in OrangeCounty wereunderwater.

An additional 23,578 homes or 4.2 percent were on the verge of being upside down.  If we are to see a lasting recovery we need to help the homeowners who are in trouble with programs that work.  The entire system is not functioning well.   

These homes that have negative equity are again on the rise.  If you have found yourself in this condition and do not understand your options give us a call.  There are possibilities don't just give the home to the bank or let them foreclosure on the home. 

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Location:
California Orange County Mission Viejo
Groups:
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Tim that is a lot of homes and this situation sadly will be around awhile.

Mar 13, 2011 06:14 PM #1
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Jennifer

California is in trouble and it is not going to recover soon.

Mar 14, 2011 06:30 AM #2
Rainmaker
226,646
Tom Waite
Thomas Waite Real Estate Broker - Cypress, CA
So Cal-Apartment Bldg Investments

Tim:

Great blog and

OH, So True!

Tom

Mar 16, 2011 11:29 AM #3
Rainer
471,359
Ted Tyrrell
RE/MAXCamosun (Chatterton) - Victoria, BC
Selling Homes in Beautiful Victoria

Tim, your stats are a little scary. But you are right. You're not out of the woods yet in California. Still, I contribute to your economy as my wife and I come to Southern California for the month of January every year. I wouldn't miss it for anything. So nice to get some sunshine when we need it.

Mar 17, 2011 12:15 PM #4
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Tom thanks for the comment

 

Mar 17, 2011 01:02 PM #5
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Ted

It is such a beautiful state but it is run poorly.  We well be broke soon.

Mar 17, 2011 01:03 PM #6
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