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Govt. to pay homeowners $1,500 to move

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 house, reports … Read More

Foreclosures are still ‘the hot ticket’

Foreclosures are still ‘the hot ticket’

The expected market time for foreclosures in Orange County is ”a mind numbing 1.14 months, a deep seller’s market,” says Steve Thomas of Altera Real Estate in his bi-weekly analysis of  local real estate. Foreclosures make up 33% of the housing inventory in … Read More

O.C. short sales up 34% in January

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 service reported that 487 of January’s deals were “short … Read More

Freeze frame: O.C.’s distressed home sales

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 inventory Distressed Share By price:       … Read More

Short sale process is ‘absolute crapshoot’

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 outstanding pending home sales in Orange County, with 62% of … Read More

Distressed sales no longer dominant

Distressed sales no longer dominant

click to enlarge Sales of foreclosed and underwater homes accounted for 41.3% of all transactions by the end of 2009, down considerably from the start of the year, according to the Southern California Multiple Listing Service. But the decline was … Read More

Foreclosure sales are ’sizzling’

Foreclosure sales are ’sizzling’

Orange County’s housing mix has changed in a year, with more short sales and equity sellers and fewer bank-owned homes on the market compared to last January. That comes from Steve Thomas of Altera Real estate , who does a … Read More

Housing short sales are ‘king’

Housing short sales are ‘king’

Steve Thomas at Altera Real Estate reports the number of short sales actively listed in Orange County as of Thursday increased by 138 from two weeks earlier for a total of 2,318. In a short sale, a homeowner sells for … Read More

2,200 O.C. home sellers ‘underwater’

2,200 O.C. home sellers ‘underwater’

Steve Thomas at Altera Real Estate in Aliso Viejo reports there were 2,180 active short sales on the market last week in Orange County, up 1% from two weeks earlier. And there were 7,000 short sales that are “either active … Read More

Distressed homes for sale cut 53% in a year

Distressed homes for sale cut 53% in a year

The biweekly property inventory report by Steve Thomas at Altera Real Estate in Aliso Viejo says the number of O.C. distressed properties (homes listed by agents in the MLS system as foreclosures or short sales) was 2,537 last week — … Read More