Monday, January 3, 2011

Predictions for Orange County Real Estate 2011

predictions for 2011 
Orange County, California, real estate professionals want to see more stable housing markets.  
 
Alexis McGee at  ForeclosureS.com made California and Orange County real estate predictions for 2011. 

DEFAULT and FORECLOSURES pace at California and Orange County during 2011

  • Initial notices of default, which peaked in third quarter of 2009, will continue decline in 2011.
  • More higher end homes will start foreclosure in 2011, with reduction of entry level homes.
  • Trustee sale auctions and foreclosures will continue to increase in 2011.
  • Lenders will try to clean out their backlogged foreclosures.
  • Lenders will slowly release their inventory properties for sale. 

SELLING DISTRESSED PROPERTIES in 2011 

  • 2011 will be a BIG YEAR for distressed property sales.
  • Banks have backlog of REO properties they need to liquidate.
  • Lenders will cautiously release inventory to the market
  • Banks will approve short sales quicker
  • Lenders will close short sales sometimes at investor prices.
  • 2011 will be good time for investor buyers to submit wholesale REO and short sales offers.

TROUBLED BORROWERS

  • Elected officials will to try and improve real estate markets through stimulus programs.
  • No increased help is expected for troubled borrowers.

PREDICTIONS FOR California REAL ESTATE 2011

  • California housing will improve overall.
  • Expect better economy and job growth
  • Entry level homes for sale with lower supply, multiple offers, increasing prices.
  • High end homes with increasing inventory, decreasing prices

REAL ESTATE SURPRISE for 2011

  • Home loan and interest rates will go up.
  • Expect strengthening in housing market from increased demand for housing.
  • Buyers who have been on sidelines will jump in and get bargains.

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Source: OCRegister.com.  This is for information only and not the providing of legal or tax services.

For information on seller and buyer opportunities for homes and real estate at Orange County, California, Newport BeachIrvineLaguna BeachCorona del MarNewport Coast, Huntington Beach, or Costa Mesa, please contact us.  Thanks.

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

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Posted via email from Explore OC Homes

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