Short sales are still really a prevalent issue in Las Flores with nearly half of all Active listings, more than half of all properties In Escrow, and nearly half of all Sold listings short.
The most active price range is between $500,000 and $750,000. We still are still the over $750,000 market as very slow throughout Orange County due to the tight lending environment.
The best news – we’ve had 3 short sales successfully close escrow this month. There hasn’t been a successful short sale closing since the first week of July this year. Time will tell whether these 3 closings are merely the culmination of the long short sale process, or if we are beginning to see the emergence of the long promised improvement in the processing of these sales in the banking systems (which we keep hearing about).
Inventory is very low and is likely to remain low throughout the remainder of the year as we approach the holiday season.
If you have questions about the value of your Las Flores home, or about buying in Las Flores, don’t hesitate to reach out.
(949) 939-2514
linsey@ocrealestatevoice.com
