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Garry McDonald

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in South Orange County, CA

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Orange County Foreclosures in the National Perspective

Monday, 09 November 2009 00:00

The number of foreclosure filings in the county appears to be rising. Let’s qualify the very general observation made in the preceding sentence with a few latest authoritative statistics to make it more meaningful.

There are at present 25,027 foreclosure homes in Orange County, CA, and the median sale price is $381,135. The larger picture is formed by there being as many as 1,979,535 foreclosed houses in the whole of US, bearing a significantly lower median listed price of $172,788.

California leads the pack of states that witnessed the most foreclosure activity during September, 2009, with 86,337 fresh foreclosure filings. Other hot foreclosure states include Florida, Nevada, Michigan, Georgia and Arizona.

During September, 2009, one in every 65,037 US housing units became the unhappy recipient of a foreclosure filing. The corresponding figure for Orange County is one in every 21,943 housing units. So, it’s obvious that the problem is much worse in this Californian County than it is for the nation as a whole.

The Human Aspect behind the Cold Numbers

The numbers and statistics of foreclosure filings fail to represent the economic opportunities that they represent to intending homebuyers, as well as the misery of the dispossessed homeowners. Foreclosure is a coin with at least two sides. Aspiring buyers perceive in the foreclosure auctions the rare chance of buying a gorgeous home in a posh locality at a mere fraction of its actual market value. There are others who indulge in a buying spree of properties, with the intention of flipping them later at handsome profits, when the market rebounds.

However, the economic and psychological distress suffered by a family that has been deprived of its home cannot be adequately portrayed. When this occurrence takes on the dimension of a national calamity, the anguish caused to people is manifold and unimaginable. It might be pertinent to remain aware of the more frail human aspect to the real estate and money games that the government foreclosures normally mean to everyone.

Anaheim: An Excellent Relocation Choice

Friday, 06 November 2009 00:00

If you are considering buying a foreclosed home for a song, and relocating to a better locale, Anaheim would be an attractive option. Anaheim is a city in Orange County, in the US state of California. That’s perhaps not saying very much. So, to elaborate, it is the second largest city in the county by area {next to Irvine}, and the second most populous too {following Santa Ana}.

A Crime-free Popular Tourist Centre

Besides, Anaheim is a major tourist destination in the region and boasts of several popular attractions. The more famous of Anaheim’s tourist hotspots include Disneyland Resort, Adventure City, Disneyland Park, House of Blues, Disney's California Adventure Park, ESPN Zone, Angel Stadium of Anaheim, Honda Center, and The Grove of Anaheim. To cap it all, Anaheim is among the safest cities in the US for its size. The crime rate is generally less than half the national average.

Umpteen Inviting Foreclosed Homes Options

A brief snapshot of the current Anaheim real estate market indicates that the average listing price of homes is $459,727. The median property sale price for the quarter ending September, 2009 was $335,500. There are over 2,100 foreclosed houses set for auction in the coming days, sporting the median asking price of $360,726. So, it is obvious that the foreclosed properties are being offered at prices lower than others listed under the MLS {multi listing system} or FSBO {for sale by owner} categories.

There are several advantages of buying a foreclosed home. The most important gain is the saving you make by grabbing a great home at a mere fraction of its typical market price. The auction procedures are fairly simple, and transparent. You can rest assured of clear titles and proper documentation of the property. The easy home finance being offered by mortgage companies further works as an incentive to aspiring homebuyers. The foreclosure auctions in Anaheim are beckoning hordes of interested buyers, and you might well decide to join this group to your benefit.

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