Posts Tagged ‘ Orange County Real Estate ’

Light at the End of the Storm

Well, I am finally beginning to see some hope that we have weathered the worst of this real estate storm. 

The numbers are increasing for buyers in the Orange County and Riverside, California area.  I have had to chase buyers by opening up a new office in the Riverside area. The Orange County market was confined to REO listings and buyers being stamped out by multiple offers on every bank owned property. 

Unless the buyer could come in over asking price and with a desirable loan most Realtors were wasting theirs and their clients time.

I am still very busy in the Riverside area.  REO homes are still plentiful and fairly easy to get.  Some banks are  still paying closing cost and offering high commissions to Realtors.  I have completely stopped taking private listings in Orange County because of the REO competition.  Now, however, I have started up again due to the numbers finally falling for foreclosures.

I have learned a lot by sticking it out and not quitting.  I feel the agents that have stayed are very lucky to have gained the experience and adaptability that will ultimately lead them to their future success.  

We have all had to toughen our shells a bit but, the future looks brighter for all.

Peggy Aldinger is the President of Pacific Grove Realty & Loan in Irvine, California.

View Riverside homes for sale and search Riverside real estate.

Check Orange County home prices and Riverside home prices.


Posted by: Peggy Aldinger on June 6th, 2009 under Regional


Orange County Real Estate Market Update

Market update provided by Teresa Mihelic of OCDreamhomes in Orange County, California.

This has been a very interesting year for our real estate market in Orange County. And this time of the year, we would have expected that the demand (the number of new pending sales) would have started to decline as we head into the holiday season.

Well, not this year.

It didn’t follow the “expected” cycle for the first half of the year (it constantly kept growing with a few step backs), and it has increased by 130 homes in the past 2 weeks and now totals 2974 pending sales.

To give some perspective, at this time of the year over the last few years, these were the numbers:

2008: 2,974 pending sales
2007: 1,180 pending sales
2006: 2,208 pending sales
2005: 3,058 pending sales

Interesting fact:

Demand is surpassing the prior 2 years, and looking like 2005 numbers. We will continue to see an influx of Continue reading this post


Posted by: Jessica Gopalakrishnan on October 3rd, 2008 under Regional

1 Comment »

Foreclosures, Short Sales, and REO’s, OH MY!


The Orange County real estate market now consists of mostly bank owned properties for sale.

The banks are scrambling to rid themselves of this massive inventory. Listing agents are presently allowed to list at whatever price they want and a lot of them are listing way below market value.

This doesn’t mean the banks will take this low offer. In fact, I can almost guarantee they won’t. Unscrupulous agents are doing this just to get offers in and scoop up buyers (new clients).

I am seeing multiple offers on REO’s to be the norm right now, any where from 90 to 180 days or more for the banks to get back to the offerers.

What does that mean? Continue reading this post


Posted by: Peggy Aldinger on March 14th, 2008 under Market Trends, Regional, Short Sales and Foreclosures


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