Huntington Beach Short Sales – Current Report
February 10, 2010 by Christine · Leave a Comment
Like the rest of Orange County, Huntington Beach has seen a large decline in prices in the past few years. As a result, short sales have become common place.
In reviewing the numbers, it’s obvious the current Huntington Beach real estate market reflects this loss in value.
Of the 489 homes currently for sale in Huntington Beach, 120 of them are short sales or in the foreclosure process. This is nearly 25% of all of the homes that are for sale.
huntington beach short sales
The numbers are even more incredible for homes that are currently in escrow. Of the 291 homes that are currently in escrow, 159 of them are short sales. Nearly 55% of these homes are short sales, making them the majority of homes in escrow.
However, of the 1584 homes that sold in Huntington Beach in the last 12 months, only 260 of them were short sales. So, despite the fact that the majority of homes that are currently in escrow are short sales, only 16% of the homes that sold in the last year were short sales.
Perhaps, we’ll see an increase in the number as more lenders begin to approve short sales. However, I expect that we will continue to see that many homes that go in to escrow as short sales won’t close.
There are numerous reasons for this, but the best way to make certain that your short sale closes is to choose the right option if you are facing foreclosure and the best way to do this is to know what your options are.
If you are upside down in your home and facing potential foreclosure, please contact us at 714.319.9751 to discuss your options.
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About the author: Christine Donovan is a California Residential Real Estate Broker with
experience in assisting clients buy and sell residential real estate.
Contact me for a free list of Orange County foreclosures or a free list of Orange County short sales
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at 714-319-9751 to discuss your options.
Want to buy a home or to list your property for sale in Newport Beach? Contact me at 714-319-9751 to learn about my system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
