18.9 Percent of Orange County Homeowners Underwater on Their Loans

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Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781
https://activerain.com/droplet/CsZ

18.9 Percent of Orange County Homeowners Underwater on Their Loans

18.9 percent of Orange County homeowners owe more on their loans than their homes are worth (underwater).  This is almost one in 5.  To some this is a difficult position.  It is tragic.  With about 1 in 5 people in California either unemployed or underemployed this condition is serious.

Most are looking for a silver lining and the positive news.  I to want the positive news.  It is difficult when thing are as bad as they are here.  Little is done to help with building a job base or to help small businesses.  Instead we have a state that is driving small businesses out of the area. 

Prices continue to drop on homes and those that are selling are moving down in size or distress properties.   It does seem that many believe that if they do not focus on the problem and do not give the situation energy it will go away.  Life does not work that way.

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Topic:
Real Estate Market Trends
Location:
California Orange County Mission Viejo
Groups:
RealtorsĀ®
Keller Williams 'Rainers
Posts to Localism
Orange County Real Estate
Market Reports
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Rainmaker
854,495
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Tim

I agree we do need to address the problems or they get bigger and bigger.

Mar 18, 2012 05:17 AM #1
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is sad that we do not have the leaders of California willing to focus on the problem.

Mar 18, 2012 05:32 AM #2
Rainer
251,980
Karen Hawkins, MBA - Langley & Surrey, BC
Royal Pro Real Estate Network - Langley, BC

So many areas seem to be in such dire straits, Tim, and you're absolutely right - it takes focus on the problem to resolve it...not just an assumption that it will go away over time.

 

Mar 18, 2012 02:59 PM #3
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Karen

Thank you for your comments.

Mar 19, 2012 12:41 AM #4
Rainer
453,420
Diane M. Phillips Realtor 443-286-4365
Frankly Real Estate Inc. - Manchester, MD
Specializing in Carroll Co., MD

Tim ~ Hang in there, somethings got to give.

Mar 19, 2012 01:06 AM #5
Rainer
387,459
Doug Anderson
Tucker Associates Real Estate Services - Danville, CA
Bay Area Real Estate Views

The problem in CA at this point (IMO) Tim is that those in charge seem to dwell on the trivial while ignoring the large elephant in the room. We need help growing our economy and creating jobs.

Mar 20, 2012 03:34 AM #6
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Diane

I am not down only reporting the stats.

 

 

Mar 20, 2012 04:22 AM #7
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Doug

According to them there are not elephant sightings in the area for years.  Why look.  LOL

Mar 20, 2012 04:23 AM #8
Rainmaker
1,329,537
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Tim, I do sympathize with those issues and to some extent share the same problems with my home in Illinois.  The market there is also a tough one.  Fortunately here in Alabama I believe we've turned the corner.  Houses are moving because the buyers are out picking up deal and taking advantage of the rates. Housing prices have also adjusted here, but we didn't have as harsh of an adjustment as CA, AZ, NV, or some of the eastern states where prices skyrocketed a few years ago.  Hope you see a light at the end of the tunnel soon and the powers that be focus on the real issues.

Mar 20, 2012 08:27 AM #9
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

They do not seem to be interested in focusing at this time.

Mar 20, 2012 09:47 AM #10
Rainmaker
2,844,426
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Tim, If only the government would truly help the homeowners and not the banks who are not helping homeowners the market would not be as it is today.

Mar 22, 2012 11:08 AM #11
Rainmaker
504,738
Teral McDowell
Referral Patners LLC - Murphy, TX

I have to agree with Kathleen, a focus on what's good for the people and not the business would serve this country well.

Mar 22, 2012 02:21 PM #12
Ambassador
1,510,944
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Tim - I must agree with the others on this one.  Problems just don't disappear or fix themselves.  Action has to be taken to help resolve the problem and get things back on track.  Wish I had that magic answer... I wouldn't be selling real estate I'd be rich! 

Mar 22, 2012 02:29 PM #13
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Kathleen

What you say is true and that is the problem.

Mar 22, 2012 02:50 PM #14
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Teral

I have to admit I do too.

Mar 22, 2012 02:52 PM #15
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes reality ville is better than living in a fantasy.

Mar 22, 2012 02:53 PM #16
Ambassador
1,654,264
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 homeowners and with price dropping it could get even worst;  Let's hope something gives.

Mar 23, 2012 01:26 PM #17
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Jennifer

I am praying that the good market is just around the market.

Mar 23, 2012 03:44 PM #18
Rainmaker
5,584,639
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Many of the underwater borrowers will eventually be okay as the market returns to more nomal levels.  Those that refinanced or got second mortgages to spend on things other than housing have to pay the price.

Mar 24, 2012 08:52 PM #19
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Roy

The market is going to take some time to become positive in CA. 

Mar 25, 2012 01:41 AM #20
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