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Short sale process is ‘absolute crapshoot’
The short sale process isn’t working and has created ”a deluge of pending sales that take forever to close,” says Steve Thomas of Altera Real Estate. As of Thursday,he says, there were 6,706...
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Freeze frame: O.C.’s distressed home sales
Here’s the latest distressed housing snapshot for Orange County and how local cities have fared as of Thursday. The bi-weekly analysis is done by Steve Thomas at Altera Real Estate: . Slice All...
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O.C. short sales up 34% in January
Click to enlarge Orange County home sales for less than a residence’s total debt increased 33.8% in January from the year before, Southern California Multiple Listing Service figures show. The listing...
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Govt. to pay homeowners $1,500 to move
Homeowners who are in over their heads but have been unsuccessful at getting a loan modification may get some different help from Uncle Sam — $1,500 to move if they sell for less than they paid for the...
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Share of distressed homes for sale drops
The share of distressed homes for sale in Orange County is at 29.8% compared to 35.9% a year ago, says Steve Thomas of Altera Real Estate, who does a biweekly analysis of the Orange County real estate...
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Fewer would buy repo’d home vs. a year ago
The public has less interest now in buying foreclosed homes than it did a year ago, a new survey shows, prompting concern about who will buy all the respossed homes coming on the market and the effect...
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Distressed homes market grows slowly
Here’s the latest on Orange County’s foreclosure and short sale market, from Steve Thomas at Altera Real Estate, who does a biweekly analysis. He says: “The distressed inventory continued its slow...
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1 in 4 transactions a short sale
Almost one out every four Orange County homes sold in May went for less than was owed on the mortgage, new figures from the Southern California Multiple Listing Service show. Of the 2,778 homes sold...
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O.C.’s distressed home market grows by 29%
The inventory of homes in foreclosure and short sales that are on the market in Orange County has grown by 29% so far this year, says Steve Thomas of Altera Real Estate in his bi-weekly report of the...
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Short sales top 700 in June
One out of every four homes sold in Orange County in June went for less than the seller owed on the mortgage, according to the latest figures from the Southern California Multiple Listing Service....
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Banked-owned Newport home sells for $9 million
A waterfront Newport Beach home that reverted to the lender in May at $7,790,000 and went back on the market at $10,900,000 has sold for $9,050,000. The 5,000-square foot, Cape Cod-style house at 2706...
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Study: 1-in-53 short sales is fraudulent
Short sales are tough enough these days without this latest bit of news. Just this week, Altera Real Estate’s Steve Thomas reported that the backlog of Orange County short sales is dizzying. About half...
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43% of CA. homes sold in foreclosure
Homes in various stages of foreclosure — including pre-foreclosures and bank-owned properties — accounted for 43% of all home sales in California in the 2nd quarter, an analysis by RealtyTrac shows. ....
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O.C.’s distressed homes now at 39%. Your city?
Orange County’s plateau of distressed homes continues, representing 39% of housing inventory on the market. . That’s the lastest report from Steve Thomas at Altera Real Estate, who does a biweekly...
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1-in-4 houses sold were foreclosures
Click to enlarge One out of every four houses sold in Orange County last month had been foreclosed on sometime in the previous year, new figures from DataQuick Information Systems show. And the numbers...
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Distressed home sales rising
Nearly one out of every two houses sold in Orange County last month was either a bank-owned home or a “short sale,” the California Association of Realtors reported this week. “Distressed homes”...
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43% of O.C. homes for sale are distressed
Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale and the share of that inventor that’s distressed properties — foreclosures and short sales....
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78% of distressed listings $500,000 or less
Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale and the share of that MLS-listed inventory that’s distressed properties — foreclosures and...
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Under $500,000: 77% of distressed homes
Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale and the share of that MLS-listed inventory that’s distressed properties — foreclosures and...
View Article116 million-dollar listings are distressed homes
Orange County broker Steve Thomas publishes every two weeks a report on the supply of local homes for sale and the share of that inventory that’s distressed properties — foreclosures and short sales....
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Distressed homes half of new O.C. deals
Orange County broker Steve Thomas publishes every two weeks a report on the supply of local homes for sale and the share of that inventory that’s distressed properties — foreclosures and short sales....
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Distressed homes account for 52% of sales
One out of every two Orange County homes sold in July was either a bank-owned property or a home selling for less than was owed lenders (called a short sale), the latest report from Orange County...
View ArticleDistressed homes sell at double speed
Distressed homes for sale — bank-owned foreclosures and owners selling ‘short sales” with lenders’ help — move twice as fast as non-distressed homes. That’s one nugget from Orange County broker Steve...
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‘Shadow inventory’ of distressed homes shrinks
Courtesy of CoreLogic: Dark blue represents bank-owned shadow inventory; light blue represents homes facing foreclosure; red represents homes 90 days or more delinquent. Click to enlarge The hidden...
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