Still a ton of distressed homes

The Orange County Register posted a blog listing the findings of distressed sales in the Orange County housing market.

The lower ranges may have hit a bottom in terms of value, but there are still a ton of distressed homes that are keeping a lid on real appreciation.  With the direction of the economy still in flux and plenty of homeowners in distress, buyers are carefully approaching the market.  50% of all current active listings below $500,000 are distressed, either short sales or foreclosures.

The below $500,000 price range represents 43% of the entire active inventory and 63% of demand, the hottest price range.  The hottest range is also plagued with distressed sales, which keeps appreciation at bay.

The numbers:

Slice All inventory Distressed Share
By price:
O.C. $0-$250k 1,265 663 52.4%
O.C. $250-$500k 2,927 1,420 48.5%
O.C. $500k-$750k 2,148 524 24.4%
O.C. $750k-$1m 1,115 181 16.2%
O.C. $1m-$1.5m 783 71 9.1%
O.C. $1.5m-$2m 430 27 6.3%
O.C. $2m-4m 621 24 3.9%
O.C. $4m+ 356 3 0.8%
All of O.C. 9,556 2,894 30.3%
Attached 3,469 1,358 39.1%
Detached 6,064 1,528 25.2%
County high share:
Anaheim 420 261 62.1%
Portola Hills 15 9 60.0%
Rancho Santa Marg. 142 80 56.3%
La Habra 140 77 55.0%
Ladera Ranch 132 69 52.3%
Lake Forest 138 72 52.2%
Santa Ana 522 269 51.5%
Buena Park 149 76 51.0%
County low share:
Seal Beach 250 7 2.8%
Corona Del Mar 189 13 6.9%
Newport Coast 145 10 6.9%
Laguna Woods 396 33 8.3%
Newport Beach 574 53 9.2%
Renee West
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Renee West

Broker Associate at Villa Real Estate
I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Villa Real Estate.
Contact me at (714) 914 9060 or rwest@villarealestate.com for all your real estate wants and needs.
Renee West
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