The Market Has Changed
When you at the statistics for Orange County the market is showing a major change. We see that the homes are selling fast with only a 1.58 months of inventory. The MLS will give us a look at sales before the other reporting agencies see the speed with which homes are selling.
The number of distressed property inventory have come down 36 percent this year or 1133 properties. Of the distressed properties 25 percent were foreclosures. The foreclosures alone went down 46 percent.
With the new settlement with the banks over robo-signing we may see a completely different market becoming ever faster. If you were thinking you wanted to purchase now would be the time. Interest rates will go up soon and the properties will be increasing in value. Watch and see.