Orange County Foreclosures
Posted by Tony Leocadio Admin on Friday, July 23rd, 2010 at 2:08pm.WHAT IS HAPPENING WITH ORANGE COUNTY FORECLOSURES?
The market is stabilizing and the current activity is reflective of that. Interest rates are again at historic lows, thanks in part to Europe’s troubles, but who knows how long they will stay that way. If you are in the market for a refinance, you should be thinking about it right now.
Investor’s have made it clear, that they are fairly comfortable buying property right now and housing demand should only increase as households grow and pent up demand continues. There were 1,347 Notices of Default recorded in May, and that was down 17% from April. Foreclosure held at 730 and that as down by 8.4% from April.
It should be noted that Notices of Default are down 48% from May ’09. That is very significant and should be a good indicator that our lending has righted itself and that the worst of the recession is behind us. All in all, it would seem that the next indicated step is to just keep going, and that we have more behind us
than we’ve got ahead of us. See you next month.
Find an Orange County foreclosure / bank-owned REO home here.
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