Aliso Viejo and South Orange County are HOT HOT HOT Markets

The hottest area of South Orange County for trying to purchase a if one is looking at supply of homes vs homes sold in the last month would be Aliso Viejo. However, all of South Orange County is smoken hot.

We have multiple offers on almost all homes that are for sale under $600,000. The coldest market is Laguna Beachas I addressed on Sunday. The home prices in Laguna are higher than where the buyer are looking. Therefore, the upper end properties will have to come down a lot more to where there are buyer's for them or wait it out.

The number of distressed homes are keeping this market down and there does not seem to be any relief in the near future. The distressed properties are homes where the owner is in default and owe more than the home is worth or the bank has taken the home from the buyer and must get the property off its books.

54 percent of the active listings below $500,000 are distressed properties.