Lake Forest ground zero for distressed sales!

[kev374]

Per this report in the OC Register, 42% of all inventory are distressed sales. It is insane! I am seeing this pattern all across the MLS listings for South OC, the number of listings where it is a short sale or the owner is upside down is increasing dramatically! It is getting downright ugly!

[nostradamus]

Wow. When they say distressed does that mean short sale, NOD, NOT, or what?

I wonder if the banks have put their foreclosed properties on the market as well, or if that’s just another layer to this onion. From what I hear the banks are holding back.

[nostradamus]

Wow. When they say distressed does that mean short sale, NOD, NOT, or what?

I wonder if the banks have put their foreclosed properties on the market as well, or if that’s just another layer to this onion. From what I hear the banks are holding back.

[nostradamus]

Wow. When they say distressed does that mean short sale, NOD, NOT, or what?

I wonder if the banks have put their foreclosed properties on the market as well, or if that’s just another layer to this onion. From what I hear the banks are holding back.

[nostradamus]

Wow. When they say distressed does that mean short sale, NOD, NOT, or what?

I wonder if the banks have put their foreclosed properties on the market as well, or if that’s just another layer to this onion. From what I hear the banks are holding back.

[nostradamus]

Wow. When they say distressed does that mean short sale, NOD, NOT, or what?

I wonder if the banks have put their foreclosed properties on the market as well, or if that’s just another layer to this onion. From what I hear the banks are holding back.

[kev374]

I believe distressed sale is when it is a short sale or NOT. NOD is just a notice of delinquency but the owner still has the option to get caught up.

In my view I think Rancho Santa Margarita is going to be in big trouble because that was among the areas that expanded the most in 2005-2006 when the use of exotic mortgages were at their peak.

[kev374]

I believe distressed sale is when it is a short sale or NOT. NOD is just a notice of delinquency but the owner still has the option to get caught up.

In my view I think Rancho Santa Margarita is going to be in big trouble because that was among the areas that expanded the most in 2005-2006 when the use of exotic mortgages were at their peak.

[kev374]

I believe distressed sale is when it is a short sale or NOT. NOD is just a notice of delinquency but the owner still has the option to get caught up.

In my view I think Rancho Santa Margarita is going to be in big trouble because that was among the areas that expanded the most in 2005-2006 when the use of exotic mortgages were at their peak.

[kev374]

I believe distressed sale is when it is a short sale or NOT. NOD is just a notice of delinquency but the owner still has the option to get caught up.

In my view I think Rancho Santa Margarita is going to be in big trouble because that was among the areas that expanded the most in 2005-2006 when the use of exotic mortgages were at their peak.

[kev374]

I believe distressed sale is when it is a short sale or NOT. NOD is just a notice of delinquency but the owner still has the option to get caught up.

In my view I think Rancho Santa Margarita is going to be in big trouble because that was among the areas that expanded the most in 2005-2006 when the use of exotic mortgages were at their peak.

[patientrenter]

kev, I am watching (low-end) condos in south OC. Lake Forest is the price leader, and SJC, MV and RSM come next. All of the low-priced properties are distressed. However, they are not yet good deals. 90% of the cheap properties are in bad areas. South OC has only tiny pockets that are bad, but that’s where most of the cheap prices are, so far.

I have seen one or two low prices in decent areas, and I expect to see more in 2008. I haven’t seen much of note yet. A real volume of genuinely low prices in good areas will come from the distressed inventory, but from what I see it’s going slowly so far.

Hsve you seen any genuinely good deals yet?

Patient renter in OC

[patientrenter]

kev, I am watching (low-end) condos in south OC. Lake Forest is the price leader, and SJC, MV and RSM come next. All of the low-priced properties are distressed. However, they are not yet good deals. 90% of the cheap properties are in bad areas. South OC has only tiny pockets that are bad, but that’s where most of the cheap prices are, so far.

I have seen one or two low prices in decent areas, and I expect to see more in 2008. I haven’t seen much of note yet. A real volume of genuinely low prices in good areas will come from the distressed inventory, but from what I see it’s going slowly so far.

Hsve you seen any genuinely good deals yet?

Patient renter in OC

[patientrenter]

kev, I am watching (low-end) condos in south OC. Lake Forest is the price leader, and SJC, MV and RSM come next. All of the low-priced properties are distressed. However, they are not yet good deals. 90% of the cheap properties are in bad areas. South OC has only tiny pockets that are bad, but that’s where most of the cheap prices are, so far.

I have seen one or two low prices in decent areas, and I expect to see more in 2008. I haven’t seen much of note yet. A real volume of genuinely low prices in good areas will come from the distressed inventory, but from what I see it’s going slowly so far.

Hsve you seen any genuinely good deals yet?

Patient renter in OC

[patientrenter]

kev, I am watching (low-end) condos in south OC. Lake Forest is the price leader, and SJC, MV and RSM come next. All of the low-priced properties are distressed. However, they are not yet good deals. 90% of the cheap properties are in bad areas. South OC has only tiny pockets that are bad, but that’s where most of the cheap prices are, so far.

I have seen one or two low prices in decent areas, and I expect to see more in 2008. I haven’t seen much of note yet. A real volume of genuinely low prices in good areas will come from the distressed inventory, but from what I see it’s going slowly so far.

Hsve you seen any genuinely good deals yet?

Patient renter in OC

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