Home market watcher Steve Thomas at the recently renamed Altera Real Estate in Aliso Viejo reports that as of last Thursday the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 5,597 last week, down 53 vs. two weeks earlier or a 0.9% drop. He also notes:

• Since mid-July’s peak, the number of distressed homes listed for sale is 6% lower.
• As a percent of all listed homes for sale, distressed properties were 43.3% of the market last week vs. 42.9% two weeks earlier.
• Since Dec. 27, the number of distressed homes on the market has grown 1,846 while the non-distressed supply is 4,421 lower.

Here’s a look at various slices of the O.C. market as of last Thursday: total inventory listings; distressed property listings; and the share distressed listings have of total inventory supply on a percentage basis in each niche …

And more on foreclosures…

• O.C. home loans sold off at half price
• O.C. foreclosure starts plummet amid new law
• Huntington Beach’s housing market still slipping, agent says
• State bill slowing foreclosures, agent says
• Pimco’s Gross: Taxpayers can gain from $700 billion rescue
• O.C.’s foreclosure threat grows
• Banks discount O.C. homes 30% at foreclosure auctions

Posted in: Defaults & Foreclosures • Distressed sales |

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