There are approximetly 230 distressed homes for sale in Orange County, California at this time. That amount is down substantially from nearly 4200 distressed homes on the market for sale in January of 2011. Subprime lenders have melted down one by one and banks were adopting ways to better negotiate these bad deals from getting worse. Yes it was a huge mess and we are out of it with rates lower than what they were back then. This artificial rate adjustment bubble will last for quite sometime as our economy adjusts to the damages that gave us a lost financial decade.
The average Orange County shortsale today has an expected market time of around 50 days. They currently just represent less than 3% of the entire Orange County homes for sale inventory. Less than 2% of the market is a foreclosure which means they are not upside down but they are late on payments to the lender. In todays Orange County residential real estate market, it’s safe to say that there are more upside down distresssed homes for sale compared to foreclosures. More shortsales than foreclosures. Keep in mind they represent an extremely small fraction of the available homes for sale on the market today in Orange County.
15801 Rockfield Blvd Ste G
Irvine, CA 92618
|Current Actives||Number of Foreclosures & Short Sale Actives||% of Active Inventory|
|All of O.C.||2,323||76||3.3%|
|All of O.C.||4,811||140||2.9%|
|All of O.C.||7,178||219||3.1%|
|Orange County Distressed Breakdown|
|Current Actives||Pendings (Last 30 Days)||Market Time (In Months)|
|Total Short Sale||155||83||1.87|