Market activity in Lake Forest finally seems to be starting to show some signs of life. We are still substantially below our historic levels of 90 – 100 sales per month, but have made some significant improvement since the miserable numbers in January and February this year. The “Distressed” properties (foreclosures and short sales) make up…
Category Archives: Foreclosures
Lake Forest Market Conditions 3/12/2008
I have some good news & bad news about the Lake Forest real estate market. Today, there are 74 homes in escrow! That is more than we have seen for quite a while, so there is hope that the “spring market” is actually coming alive! Hopefully, with the new loan limits, and the Fed pouring…
Market Conditions for Lake Forest California February 2008
Like most of Orange County, Lake Forest has a lot of homes for sale right now. “Distressed” properties currently make up 44% of the total 357 properties available, with 116 short sales and 40 foreclosures. Due to the long wait times for lender approval of short sales, most of these are being ignored by the…
Lake Forest Market Conditions 1/2/2008
The Lake Forest real estate market is pretty quiet right now, and I don’t expect it to pick up much before our traditional spring start of the home buying season – Super Bowl Sunday, which will be February 3rd this year. The condo prices start at $189,900 for a one-bedroom bank-owned home. A two-bedroom is…
Lake Forest Real Estate Market December 2007
The Lake Forest market, as well as surrounding cities in the South Orange County area, seem to be picking up the pace a little now. The inventory has shrunk some, as many sellers have taken their homes off the market for the holidays, and the prices are now noticeably lower than last summer. I have…
Foreclosure Fraud! (Watch Out)
Freddie Mac just released this video about foreclosure fraud schemes. It’s only a few minutes long, but gets the point across quickly. If you know someone who is behind on their mortgage, there are many ways they can minimize the damage, but signing off on the deed is not one of them! View this You-Tube…
Foreclosure Process In California
In California, it takes several months from the first late mortgage payment until the foreclosure may be completed. The absolute minimum time required from the date of recording of the Notice of Default to actual sale is 112 days, but due to common delays, it is extremely rare for it to be completed in less than…
Lake Forest Real Estate Market October 2 2007
The real estate market in Lake Forest, California, is very much like every other part of the country right now – it’s SLOW! The properties that are listed under $300,000 include 1-bedroom and a few 2-bedroom condos, with the lowest prices offered on the foreclosed listings. The lowest priced 1-bedroom is $204,900 and the lowest…
Lake Forest Real Estate Market September 2007
The current market is very slow now, but it is typical for this time of year. Traditionally, August and September are the months when people’s attention is focused on vacations, returning from vacations, or back-to-school activities, and football, so this is not unusual. Next month the pace should pick up a bit as buyers will…