Is It Really a Buyers’ Market?
June 3, 2010 by Christine · Leave a Comment
According to the Orange County Register, the number of distressed properties is down almost 6% from a year ago.
Distressed properties are homes that are either foreclosures or short sales. And, together, they currently make up 29.8% of the homes for sale in Orange County. This has dropped from last year at this time when they made up 35.9% of Orange County’s inventory.
Further, the average foreclosure is only on the market for 1.12 months, making it a hot seller’s market for foreclosures. Short sales are not far behind with an average marketing time of only 1.53 months.
Have you heard that it’s a buyers’ market, and are confused by these numbers? It’s true that in many parts of the country, it’s a buyers’ market, but Orange County has some of the most popular real estate in the world, and it shows in these numbers.
If you have been trying to buy a home, especially under $750,000, you may have discovered that you have a lot of competition for the best priced and best condition homes.
How can you get your offer accepted in this competitive market, see How to Effectively Write Your Offer to Purchase.
See below for foreclosures and short sales that are currently for sale in Huntington Beach, Costa Mesa and Newport Beach. If you are interested in homes in other cities or non-distressed homes, please contact Christine at 714-319-9751.
Showing properties
1 - 5 of 41.
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Huntington Beach Foreclosures.
(all data current as of
9/6/2010)
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$699,900 : 9591 Warburton Drive, Huntington Beach4 beds, 1 full, 1 part bathsSize: 2,921 sq ftLot size: 6,000 sq ft
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$393,500 : 18071 Newland Street, Huntington Beach3 beds, 2 full bathsSize: 1,147 sq ftLot size: 6,000 sq ft
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4 beds, 1 full, 2 part bathsSize: 2,595 sq ftLot size: 3,400 sq ft
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$743,900 : 2607 17th Street, Huntington Beach4 beds, 2 full, 3 part bathsSize: 3,099 sq ftLot size: 7,840 sq ft
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2 beds, 1 full, 1 part bathsSize: 875 sq ftLot size: n/a
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Showing properties
1 - 5 of 11.
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Newport Beach Foreclosures.
(all data current as of
9/6/2010)
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3 beds, 2 full, 1 part bathsSize: 2,257 sq ftLot size: n/a
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$372,500 : 200 Mcneil Lane ,Unit 12, Newport Beach2 beds, 2 full bathsSize: 1,000 sq ftLot size: 1 sq ft
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$404,900 : 20 Sea Island Drive, Newport Beach2 beds, 2 full bathsSize: 1,240 sq ftLot size: n/a
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$699,900 : 1701 Orchard Drive, Newport Beach5 beds, 1 full, 3 part bathsSize: 2,563 sq ftLot size: 7,200 sq ft
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$439,900 : 811 West 15th Street ,Unit 2c, Newport Beach2 beds, 2 full, 1 part bathsSize: 1,515 sq ftLot size: n/a
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Showing properties
1 - 5 of 16.
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Costa Mesa Foreclosure.
(all data current as of
9/6/2010)
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$559,900 : 2337 Orange Avenue, Costa Mesa3 beds, 2 full, 1 part bathsSize: 1,693 sq ftLot size: 3,787 sq ft
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$394,900 : 120 Lexington Lane, Costa Mesa4 beds, 1 full, 1 part bathsSize: 1,420 sq ftLot size: 1,400 sq ft
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$499,000 : 981 Carnation Avenue, Costa Mesa4 beds, 1 full, 1 part bathsSize: 1,694 sq ftLot size: 6,000 sq ft
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$374,900 : 3453 Pinebrook ,Unit 106, Costa Mesa3 beds, 2 full bathsSize: 1,482 sq ftLot size: n/a
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$439,900 : 859 Oak Street, Costa Mesa4 beds, 1 full, 1 part bathsSize: 1,594 sq ftLot size: 7,700 sq ft
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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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.
