Live Lake Forest

If you find a condo that you like in Lake Forest, you better jump on it fast! The total inventory of condos and townhomes in Lake Forest right now is about a 21 day supply!  In the last 30 days, 38 condos or townhomes have gone into escrow, leaving only 26 available today.

Of the 26 that are in the “Active” status on the MLS, only 4 qualify as normal traditional sales.  (If “normal” is in the minority, maybe it shouldn’t be called normal anymore!)  Of those 4, 2 of  them are significantly over-priced for the market, and would be short sales if they were properly priced.

The rest of them are either short sales (17), bank-owned fixers (2) or investor-owned flips (3.)

So really, there are only 7 condos that could be purchased in the time frame that more first time buyers are needing right now to close before the November 30th deadline.

7 available divided by 38 per month = 0.18 month’s supply (about 5 days!)

Want to know what your house is worth?

Check my foreclosure lists by City (updated 4 times per day!)

Search through all the homes on the MLS

If you have any questions or concerns, I’m here to help!

Call me:  (949) 457-0281

Thanks for visiting!

If you are hoping to buy a home in Lake Forest, California, you need to be ready to jump in and make your best offer when you find one that you like!  With all the first-time buyers trying to sneak under the November 30th deadline for the $8,000 tax credit, the competition is fierce for properties priced under $600,000.

Today, there are only 51 single family homes on the MLS.  The prices run from $355,000 for a cute 2 bedroom short sale house, up to $1,549,000 for an expanded and upgraded lake front home.  If you need to close before November 30th, you probably can just skip considering the short sales, as they normally take 3 – 6 months to close.  The non-short sale homes start at $424,900 and there are only 12 to choose from that are priced under $600,000! 

This home was purchased at the foreclosure sale, then fixed up and put back on the market at $424,900.  With almost 1500 square feet, if it didn’t have $242 per month association dues, it would have already sold.  It’s clean and ready for someone now.

This is an odd situation.  This home originally came on the market in June, listed at $449,000.  I showed it to one of my buyers, who didn’t want to do all the work that it needed (complete interior, yard & pool!).  It sold in the middle of July, then it came back on the market in August (I guess because the buyer didn’t qualify.)  At the time it came back, they raised the price to $529,900!!!!!   I don’t know if the price is a typo by the listing agent, or if they decided that it was really worth more.  Since that happened 30 days ago, I think someone will change the price soon (if someone remembers to check on it !)

I’ll update the condo & townhome inventory tomorrow.

Want to know what your house is worth?

Check my foreclosure lists by City (updated 4 times per day!)

Search through all the homes on the MLS

If you have any questions, or want any help, please call me!   (949) 457-0281

Thanks for visiting!