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…
Category Archives: Market Conditions
Mortgage Crisis for Dummies
This is a 5 minute video that does a terrific job of explaining what has happended to the mortgage market in the last few years. Dan Green of The Mortgage Reports produced this video. Now, if someone could just come up with the answer to “Where do we go from here?”, we would all be…
Orange County Homes Sales Report 2007
Total sales volume of homes in Orange County, California, for 2007 was off about 28% from the volume of 2006, but it was off 56% from our record year of 2003! I really believe that the volume of 2004 is understated because homes were selling so fast that many never made it in to the MLS at…
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…
What's Your House Worth?
Here’s a new one that I just tried out. You enter the purchase date and price, and it will calculate the current value using historic averages and the Case-Shiller studies and reports. Try it yourself! Let me know what you thought by leaving a comment here.
Lake Forest Real Estate Market November 7, 2007
Lake Forest sellers are having a tough time adjusting to the realities of today’s market. There are currently 421 active properties in the MLS, and 95 of those (22%) are either foreclosed or short sales. The short sales, in many cases are not really available because it is unknown in if the mortgage holder will agree…
It's ALL about the PRICE!
Why isn’t my home selling? It’s fixed up, easy to show, listed in the MLS with photos and a virtual tour, and offers a generous commission to the buyer’s agent. It has been on the market 90 days and there are no offers! Well, I haven’t seen your house, but when all else fails, you…
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…