Insider Info on Bank Owned Homes

Interested in finding out about Bank Owned properties before they hit the market?

Once a home goes through the foreclosure process it takes a little time for the bank to get the property ready for market. Wouldn't it be nice to be in the loop and have a jump on other potential buyers and investors?

Check these out:

• Newport Heights area of Costa Mesa

• Single Family Home in Mission Viejo

• Single Family Home with Views of Canyon Lake

Check back regularly - we'll provide updates as these and other properties are prepared for the day they hit the MLS.

Want to be sure to always have the inside scoop on these kinds of deals? Check out Leslie's new video - she'll make you her Top Priority!

Bank Owned Home - Pre-Market Scoop

Interested in info on Bank Owned properties before they hit the market? I've created a new blog to keep you up to date on one of Leslie's newest assignments from IndyMac / One West Bank.

Here's some video of my first walk through the property - stay tuned for more!

OC Real Estate Now a Seller's Market?

Steve Thomas of Altera Real Estate tells the OC Register that the number of homes on the market has fallen to just a 2.5 month supply based on his "market time" model. That's down from a 16 month supply at the end of 2007 when the credit crunch hit.

The chart below shows the picture:

What this means is that the market for homes priced below $1 million has heated up, and under $500k it's red hot - multiple offers, cash offers, selling prices above list, and homes selling in 4 weeks or less.

Keep in mind, though, that "seller's market" doesn't mean the seller can name his price. It seems that a bottom has formed and prices are no longer dropping, but there are still a significant number of "distressed" properties on the market. Homes that are priced correctly are flying off the shelf, but homes priced above the market comparables are not.

Interested in what's on the market in your area? Try searching for homes for sale here!

OC Home Sales Climbing - Inventory Falling

The intense buyer competition for homes priced under $500k continues. The latest numbers from HousingTracker.net show that the median price has stabilized and is gradually rising, and that inventory (homes listed for sale) is down more than 27% from a year ago. Meanwhile, the number of homes sold each month continues to climb.

Do you think the tide has turned? Check this out if you'd like to find out more about the opportunities for first-time home buyers. Thinking about buying investment property? Sign up for a free home search and find your bargain!