Tidal Wave of Foreclosures Predicted
Posted by on Friday, January 16th, 2009 at 7:59pm.As predicted, the conventional lender Chase Bank has confirmed that in the next six to eight weeks a flood of foreclosures will be released throughout Californina. What does that mean for us in Orange County? Opportunity! We estimate that the low amount of foreclosures that we have now in Brea, Fullerton, Placentia, Yorba Linda and La Habra should rise to around 30% of our inventory. For those of you who have been or who are thinking about selling... you need to come to serious terms that if you don't take your equity and run now, you may be forced to sell later at foreclosure-driven market prices. You've worked too hard for what you have, don't let the failing economy rob you of that.
Now, on the other hand if you are a buyer, this is a fabulous opportunity for those of you who are looking to purchase your first home or to finally make that upgrade into that larger home that you've wanted and needed for years. That 1.2 million dollar home that you wanted two years ago in Eagle Hills is now going to drop into the 600,000's. Now with the property taxes lowered and the great incentives that the government is giving on tax breaks for new buyers... it has become more attainable. Interest rates are also predicted to fall into the lower 4's for a conventional 30 year fixed....Will it get any better than this? I don't think so! See Here for Foreclosures in Brea, Yorba Linda, Placentia, Fullerton, La Habra, Anahem, and Anaheim Hills.
This is a window of opportuntiy that we have been given. The economy will bounce back and homes will begin to appreciate again. It won't last forever.
If anyone has any questions concerns or comments, please don't hesitate to contact us. We are at your service....
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