High Foreclosure Purchase Activity… Does that Indicate a Market Bottom?
By Michael A. Caruso
(Surterre Properties)
We have all heard and felt how the real estate market had "tanked". However, there are pockets of Orange County that are showing signs of life and an active market. For example in Lake Forest there have been multiple offers on banked owned properties. Investors and first time buyers are finding a large inventory of homes priced below $500,000. Some of these offers at times are even coming in above the asking price as buyers are outbidding each other. While Lake Forest specifically only has a 10% foreclosure rate it created a demand for these homes, thus reinforcing that it is a buyers market. So with this information in mind let us all take a deep breath and continue to move forward in hopes of a better future market and we can all feel back on track again... And thank you for makin...
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