Orange County (Southern California) Foreclosure Update

Posted on May 28, 2009
Filed Under Foreclosed home |

We (www.mysocal-realestate.com) have been tracking foreclosures in Orange County since the fall. The numbers have been increasing steadily, especially in Santa Ana and Anaheim. 10,600 (NOD, NTD, REO) is a lot bigger number than the mainstream media let on. The worst part is the erosion on wealth affecting all home owners.

We make use of specialized software to compare the foreclosure activity to the MLS data to find pockets of opportunity and risk. One of the main features we use extensively is sort by $/sqft with filters for size, type, and # of bedrooms to see which cities and areas are worse off than others.

We meet each Friday afternoon in Laguna Beach and are more than happy to share our property and market finding with others. Or just drop us a line through out website.

www.mysocal-realestate.com

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Comments

5 Responses to “Orange County (Southern California) Foreclosure Update”

  1. KhmerD0g on May 28th, 2009 5:18 am

    i live in orange …
    i live in orange county.

  2. shaider77 on May 28th, 2009 5:18 am

    A novel solution …
    A novel solution would be to entice would be immigrants to the US with instant green cards for them and their families if they buy a foreclosed property a little above market rate. It might arrest the market’s decline momentum and even cause it to rebound. There are enough people in the emerging markets of Brazil, Russia, India and China who might find it a good deal.

  3. henrycyan on May 28th, 2009 5:18 am

    1. Inflation has …
    1. Inflation has caused huge increases in the cost of food, energy and gas while incomes remained stagnant. Thus, less money is available for mortgages compared to the pre-bubble era.

    2. For every borrower, there is a lender. Foreigners are no longer lending money to Americans and most citizens not saving. Banks simply do not have the money to lend.

    3. Consumer culture has not changed, most people are behind in credit card debt, let alone save up for a 20% downpayment.

    -60% from peak

  4. sashiadortman on May 28th, 2009 5:18 am

    I worry about our …
    I worry about our economy being sucked down the toilet with theirs because of our attached at the hip trade policies regarding the US.

  5. FromCanadaEh on May 28th, 2009 5:18 am

    How’s that Bush …
    How’s that Bush economy going?

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