REAL ESTATE NEWS
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Housing market, continued ...
In addition, 3,703 sales have been pending for one month or more. Of
these pending sales, 76 percent are short sales, only 5 percent are
foreclosures and 19 percent involve homeowners with equity.
Of
the 2,132 sales that have been pending for two months or more, 91
percent – an unusually high figure – are short sales, 1 percent are
foreclosures and 8 percent involve homeowners with equity.
Although
an increasing number of homeowners have been defaulting on home loans,
more lenders have delayed foreclosing. As a result, the housing market
has grown “much hotter,” says the Altera report, with an increase in
successful short sales and a shift to more equity sellers.
The
total number of O.C. homes currently listed, 7,719, is 5,539 fewer than
the number of homes offered the same time last year and 9,514 fewer
than the same time two years ago.
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Related stories:
Are you a savvy homebuyer?
The state of real estate
Irvine's Essex Realty debuts troubled-assets program
Anaheim City Council OKs affordable housing plan
O.C.'s housing market versus the nation: How do we measure up?
Housing market, continued ...
In addition, 3,703 sales have been pending for one month or more. Of
these pending sales, 76 percent are short sales, only 5 percent are
foreclosures and 19 percent involve homeowners with equity. Of the 2,132 sales that have been pending for two months or more, 91 percent – an unusually high figure – are short sales, 1 percent are foreclosures and 8 percent involve homeowners with equity.
Although an increasing number of homeowners have been defaulting on home loans, more lenders have delayed foreclosing. As a result, the housing market has grown “much hotter,” says the Altera report, with an increase in successful short sales and a shift to more equity sellers.
The total number of O.C. homes currently listed, 7,719, is 5,539 fewer than the number of homes offered the same time last year and 9,514 fewer than the same time two years ago.
<<< PREVIOUS PAGE
Related stories:
Are you a savvy homebuyer?
The state of real estate
Irvine's Essex Realty debuts troubled-assets program
Anaheim City Council OKs affordable housing plan
O.C.'s housing market versus the nation: How do we measure up?
