Lake Forest prices now start at $95,000 for a one-bedroom bank-owned condo. It previously sold in 2005 for $260,000 using 100% financing (probably using a “liar loan” without any income documentation!) I seriously question the wisdom of anyone paying that much for a property this size, as you could have rented it for less than…
Category Archives: Lake Forest
Lake Forest Market Report – June 1, 2008
Based on the levels of inventory, it looks like we are shifting back toward a seller’s market in Lake Forest! When the ratio of active listings to sales, or new escrows gets down below 6 months, it has generally been considered a market that favors sellers. This doesn’t mean that prices are likely to rise…
You Want to Buy a Foreclosure?
I am getting a lot of calls lately with people telling me that they want to buy a foreclosure. Maybe it’s the mentality of the market, or the late night infomercials, but many people seem to think that foreclosures, by definition are a “good deal”. They might be or they might not! Foreclosures aren’t necessarily…
Lake Forest Market Conditions
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…
Lake Forest Market Conditions – 4/6/2008
The Lake Forest real estate market is tough right now – for sellers, for buyers & for agents! While there are a lot of listings active on the MLS, when they are divided up by size, price, and locations, there really isn’t much to choose from. Today, out of 344 properties on the market, 58%…
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…
Hints for Sellers of South Orange County Homes
For my sellers in Lake Forest, Rancho Santa Margarita, Mission Viejo, and other South Orange County areas, here is a list of important, but not totally obvious hints to follow when your house is on the market. If you have an answering machine – turn the volume to either “off” or “0″. You don’t want…
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…