Short Sale Pricing: The only remaining discount and it is fading fast!

November 16, 2012

Fading Fast!

It is no longer a buyer’s market, quite the opposite. Strong buyer competition, multiple offers, offers at or above the asking price, this is the new Orange County housing market reality, a seller’s market, and all sellers are interested in recouping part of the losses they have experienced over the last few years.

Even bank owned homes are selling for an average 2% to 3% above asking price, depending on whether they are priced above or below $500,000. Only 6% of all home sales in October were bank owned, a percentage not seen since 2007. There are currently only 142 bank owned homes in the Orange County active listing inventory.

For more in depth analysis of the current Orange County housing market please continue on to the full Orange County Housing Report

Photo Credit: Diana Parkhouse
Photo Credit: Dj Crazy Gabe

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