A year ago today, I posted my predictions for the Orange County real estate market in 2008. Today, I can look back and see that I got some right, and some wrong. (Isn’t that how it always is?) Some things I got right : The volume increased, (but not as much as I hoped.) As of…
November 2008 sales in Lake Forest are up 233% from last year’s dismal numbers, but sale price per square foot is off by almost 26%. Prices ranged from a low of $110,000 up to $724,900. First time buyers were the driving force behind the improved sales volume, since they didn’t have to unload a previous…
Homes in Lake Forest are selling! The preliminary numbers for the month of September are up from last year, although the average price is lower than a year ago. In September 2008, 63 properties closed escrow compared to 26 in September 2007. The sold prices ranged from a low of $100,000 for a one bedroom…
This video was produced by John Burns Consulting, a company that specializes in advising the homebuilding industry, but the explanations and lessons provided in it also apply to the resale home market. Search the 14,000+ Homes on the Orange County Market Today Learn What Your Home is Worth
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…