Showing posts with the label REO

Portola Hills - Highest Percentage of Distressed Properties in Orange County

OK, this is disturbing... According to a report in the Orange County Register this morning, Portola Hills has the highest percentage of homes currently on the market that are in distressed situation.  First, Distressed is identified as any property that is either being sold as a Short Sale/ REO /or has a Notice of Default. Currently in Portola there are 16 active properties listed on the market and 10 of the properties are listed as Distressed. So if you do the math, 10 of 16 equals 62%, which is high!    But there is a key point missing in this report and that is there are only 16 homes for sale in Portola Hills.   Overall in Orange County the number of distressed homes on the market equals 30%. So what does this mean.  There is no doubt Portola Hills like everywhere else is being effected by the current market.   The difference however is the low inventory. With only 16 homes on the market the demand for the area does tend to out weigh negative perception, especially i

Portola Hills Mid-Year Market Update 08

Wow, can you believe it, we are almost half way through 2008. What a year in the Real Estate market, there is no denying Portola Hills has been hit just like everywhere else in Orange County , but there is good news out there. Below is a quick look at the Real Estate market in Portola Hills. Current Active Properties: 41 Current Short Sales: 12 Current REO (Foreclosures): 7 Currently In Escrow: 15 Number of homes sold YTD: 23 Condo Closed Sales: Amenities: 3 bed/3 bath/1100 sq.ft Average Sold Price: $344,000 Average Price per Sq. Ft.: $307. Attached SFR Closed Sales: Amenities: 3 bed/3 bath/1550 sq.ft. Average Sold Price: $461,721 Average Price per Sq. Ft.: $2