Lansner: looking for foreclosures by the beach?
November 5th, 2007, 2:55 pm · · posted by Laylan Connelly, staff writer
Looking for a distressed property at the beach? Register real estate blogger Jon Lansner says “Good luck, relatively speaking!”
Lansner’s reviewed at new analysis of O.C.’s homes-for-sale inventory by market watcher Steve Thomas at Re/Max Real Estate Services in Aliso Viejo.
The report shows far less listings of homes in foreclosure or “short sales” (when banks agree to take less than their loan amount due) in beach-close communities, as of last week.
According to Thomas’ stats and Lansner’s math, there were 254 distressed properties for sale near the ocean out of 3,501 total listings in these seaside market.
That means 7.3% of those “for sale” signs you see represent homes with serious financial distress. While that may seem high, look around the rest of the county: 2,805 distressed properties listed for sale of 20% of the 13,953 listings.
To see the community breakdown, CLICK HERE
Reader Comments
Comments are encouraged, but you must follow our User Agreement.- Keep it civil and stay on topic.
- No profanity, vulgarity, racial slurs or personal attacks.
- People who harass others or joke about tragedies will be blocked.
Comments Closed
-
-
BEACHAPEDIA – your guide to the coast
Local surfers recognized
[...] The report (derived from MLS listings) shows that as of last Thursday, Santa Ana’s home inventory had the highest share of distressed properties in O.C. at 32.8%, just ahead of Anaheim at 32.6%. While we’ve discussed mid-county housing woes before, it’s noteworthy that the next two communities with high levels of distressed property for sale were Rancho Santa Margarita (31.3%) and Lake Forest (29.8%.) Read how beach towns fared HERE. [...]
“The report shows far less listings of homes…”
Far FEWER listings.
[...] TeamRelocation brought to you using rss feeds. Valuable information for anyone looking into home and real estate foreclosures.Here’s a brief portion of the articleThe report shows far less listings of homes in foreclosure or “short sales” (when banks agree to take less than their loan amount due) in beach-close communities, as of last week. According to Thomas’ stats and Lansner’s math, … [...]