Foreclosure auction firms accused of “bait and switch”
A Corona couple that tried unsuccessfully to purchase a home at an auction of lender-owned properties has filed a lawsuit against several auction companies, including Irvine’s Real Estate Disposition...
View ArticleO.C. bank-owned properties rise 37%
The number of bank repossessions of homes in Orange County rose to 1,503 in July from 1,093 in June, a jump of 37 percent, according to RealtyTrac, the Irvine-based company that tracks foreclosures...
View ArticleO.C. foreclosures soar to record in July
A record number of Orange County homeowners lost their homes to foreclosure in July, DataQuick reported today. The number of foreclosures reached 1,351 last month, topping the previous record, set in...
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Time to buy a foreclosure in Surf City?
Is now the time to buy a foreclosed home in Orange County? How much are foreclosures selling for and how quickly? These are good questions. To answer them, I have designed a special project for this...
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Foreclosure of the week: family home in Irvine?
Perhaps a nice place to raise a family is at 8 Monitor in Irvine. This week’s spotlighted foreclosure is a 3 bedroom, 2 bath house where kids would be part of the Irvine Unified school district,...
View ArticleO.C.’s growing foreclosure backlog
Foreclosure totals released Wednesday by DataQuick suggest that banks are taking possession of more homes each month than they are able to sell, yet the number of bank-owned properties for sale has...
View ArticleState bill slowing foreclosures, agent says
Ken Dixon, a real estate agent with Re/Max who specializes in selling foreclosures, wrote me an e-mail Wednesday and said a state bill is slowing foreclosures as lenders make sure they communicate with...
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Some foreclosures get multiple bids, others languish
Are buyers getting deals on foreclosed properties, or are they getting on an elevator headed down? 6122 Shelly sold $16,100 above asking. Photo by Mark Martinez I’m tracking 10 bank-owned properties in...
View ArticleWill banks offer foreclosures for rent?
Fannie Mae, the mortgage giant now owned by taxpayers, said earlier this month it would allow renters to stay in their homes, if the owner lost it to foreclosure by the company. “Renters in foreclosed...
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Foreclosures account for 4 out of 10 O.C. home resales
Click to enlarge Foreclosure resales dipped slightly last month as a percentage of all housing resales in Orange County, though they remain elevated vs. 18 months ago. DataQuick reported today that...
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Banks holding more O.C. foreclosures
For months now, figures from DataQuick have shown home shoppers are nabbing foreclosures. But are enough foreclosures selling in Orange County to lower the inventory on the books of banks? Well, not on...
View ArticleBanks accept 66% of debt value at foreclosure auctions
Banks on average were willing to take a 34% discount against the first mortgage on an Orange County property at foreclosures auctions, known as trustee’s sales, last month, ForeclosureRadar.com...
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Foreclosure backlog grows in O.C.
(Correction: Explanation of bad-loan categories changed.) First the good news: The ratio of foreclosed properties in Orange County on the books of banks dipped to 0.5% of all home loans in the county...
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When will these foreclosures hit the market?
I visited a couple of foreclosure auctions in recent weeks and wrote about how investors bought 30% to 50% of the houses and condos for sale. But visiting an auction, known as a trustee’s sale, at...
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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...
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1 million U.S. homes lost to foreclosure since 2008
More than 1 million U.S. households have lost their homes to foreclosure since the end of 2008, new figures from Irvine-based Realty Trac show. About a fifth of those foreclosures occurred in...
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1 in 4 transactions a short sale
Almost one out every four Orange County homes sold in May went for less than was owed on the mortgage, new figures from the Southern California Multiple Listing Service show. Of the 2,778 homes sold...
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Deeper foreclosure discounts eyed in ’11
Eyeball 2011 is our holiday gift to you! It’s our fifth annual collection of outlooks on local real estate conditions! This year, we’ve grown the package from the Lansner on Real Estate blog to include...
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New mortgage eyed for those who walk away
Eyeball 2011 is our holiday gift to you! It’s our fifth annual collection of outlooks on local real estate conditions! This year, we’ve grown the package from the Lansner on Real Estate blog to include...
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No end to high-end foreclosures eyed for ’11
Eyeball 2011 is our holiday gift to you! It’s our fifth annual collection of outlooks on local real estate conditions! This year, we’ve grown the package from the Lansner on Real Estate blog to include...
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