Monday, August 13, 2012

Hot With Buyers for Homes - Orange County CA Needs More Sellers

Vicara homes, Quail Hill Irvine

Orange County CA now has the fastest home reselling market time since 2006 -

but the supply of homes listed for sale is at a seven-year low.

 
OC home buyers have competition with each other now and limited choices -

Number of OC homes for sale first part of August was lowest supply since 2005 - and down 33 percent from last year 2011.

Prognosticators were wrong when they predicted the past two years that many distressed properties would flood and hurt the Orange County housing market.

  • Number of Orange County distressed homes listed – foreclosures and short sales – is down 79 percent this year.
  • Trustee auction sales by lenders for sale is down 77 percent as compared with last year.
  • Short sale listings are down 79 percent from last year.
  • Distressed listings at Orange County are down 79 percent from last year.
  • Lenders inventory of distressed property at Orange County is down 15 percent from last year.
  • So-called shadow inventory of foreclosures isn't getting through trustee auction sales process, so these properties aren't on the market.

It's a hot market now favoring sellers at Orange County -  average “market time” is very fast - that time it would take to theoretically sell all homes now for sale at current rate of sale.

Regular equity listings at Orange County CA numbers are not enough for buyers - 40 percent down at start of August as compared with last year 2011.

ORANGE COUNTY PROPERTY NEWS

Home owners at Orange County who have equity - and those who are recovering equity - should get moving now and selling - while times are so hot with motivated buyers.
 

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Source of some information is OCRegister.com and ReportsOnHousing.com.

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Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Posted via email from Explore OC Homes

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