Demand for Orange County has taken a hard hit because of the current financial market crisis, dropping to its lowest level in years. The number of new escrows within the prior 30 days dropped to 1,206 from 1,475 just two weeks ago and 1,804 four weeks ago. This is the beginning of the effects
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09/13/2007
Currently short sales and foreclosures in Orange County account for 7% of the active inventory, which has grown from 5% four weeks ago. Of all the short sales and foreclosures currently on the market, 54% are below $500,000 and 92% are below $750,000. Short sales and foreclosures continue to im
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09/13/2007
The latest hurdle in the market has spilled over into the disparity between the condominium market and the detached home market. For the first time since April, the detached home market is actually slower than the condominium market. For condominiums, market time has increased from 12.66 months
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09/13/2007
It looks as if Bernanke and the Federal Reserve will be cutting rates when they meet on September 18th between a quarter to a half percent. This should give a moderate boost to housing demand depending upon how large of a cut is made. Depending upon future economic indicators, this could be th
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09/13/2007
Now that we are officially in the Autumn market, Here's where I have to inject my east coast salesman candor: ONLY SELLERS WHO MUST SELL SHOULD SELL AT THIS TIME. Yes, I know. If you don't list your home now with the potential of it selling, we Realtors don't make any money. I learned a long t
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09/13/2007
Rates are falling and there is no competition, a great opportunity. However, it is crucial for buyers to do their research upon searching for the home that best fits their family's requirements. Buyers must locate motivated sellers based upon the most recent comparable sales and escrow activity
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09/13/2007