Steve Thomas at Altera Real Estate in Aliso Viejo reports that the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 2,919 last week, down 143 vs. two weeks earlier or a 4.7% decline.

Since Dec. 26, the number of distressed homes on the market has dropped 46% while the non-distressed supply is 22% lower.

As a percent of all listed homes for sale, distressed properties were 31.8% of the market last week vs. 32.9% two weeks earlier. For a look at housing demand, read: Demand for O.C. homes hits plateau.

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 …

In other news…

• Banks offered 61% off these foreclosures
• Delinquencies rise on least risky mortgages
• Banks reject toxic-asset plan
• Frenzied bidding on discounted foreclosures
• FDIC seizes Irvine bank
• Is paying off a mortgage the best option?
• These O.C. homes are about to be foreclosed
• Fed trims emergency lending
• Federally insured home loans keep growing
• Fed to keep buying mortgage securities
• Mortgage applications rose on dip in rates
• 7 lenders escape state foreclosure moratorium

Posted in: Defaults & Foreclosures • Distressed sales • distress |

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