Orange County CA is Smoking
June 4, 2009 by admin
Filed under Positive Real Estate
Ground Zero for the real estate foreclosures and huge focal point in the CNBC special House of Cards, the OC is on a comeback.
From the Vince Bindi Blog: In the price ranges of $650,000 and below, most of Orange County is now in a Hot Sellers Market. In the price range of $450,000 and below, the Months of Inventory is a hot 1.1 Months for south Orange County… 2 to 4 months is considered to be a Sellers market, and below that is a hot Sellers market. ..Where is all of the demand coming from you may ask? Well, it is a combination of investors and first time homebuyers who have been sitting on the fence for the past 4 to 5 years. Investors with cash are buying for they can now get a decent yield with a down payment of 30%. Many investors feel that most, if not all, of the downside risk in the local real estate market is behind us. …First time home buyers are also now buying. Fixed interest rates are now at all time historic low, and there is pent up demand from the low rate of sales in the past 2 years. Orange County real estate blog
Related articles:
- Hear why builders see simpler, cheaper new homes (lansner.freedomblogging.com)
- Red-hot appetite for cheaper S. County homes (lansner.freedomblogging.com)
- Hear why O.C. may exit housing mess early (lansner.freedomblogging.com)
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