Santa Ana, Anaheim top O.C. in distressed homes for sale
November 5th, 2007 · 129 Comments · posted by Jon Lansner of the O.C. Register
Market watcher Steve Thomas at Re/Max Real Estate Services in Aliso Viejo has a new stat out: foreclosures and short sales listed for sale — what I’m calling distressed properties — as a share of total for-sale inventory by major O.C. communities. Short sales are where the bank agrees with a troubled borrower to take less than the loan amount due at sale.
The report (derived from MLS listings) shows that as of last Thursday, Santa Ana’s home inventory had the highest share of distressed properties in O.C. at 32.8%, just ahead of Anaheim at 32.6%. While we’ve discussed mid-county housing woes before, it’s noteworthy that the next two communities with high levels of distressed property for sale were Rancho Santa Margarita (31.3%) and Lake Forest (29.8%.) Read how beach towns fared HERE.
Overall, Thomas found 17.5% of all O.C. inventory was of the distressed variety. Here’s a look at the distressed property count and share of inventory by key O.C. neighborhoods ….
No comments:
Post a Comment