Home Sales in Orange County - Update with a Surprise

Orange County home sales are showing some very interesting results. For the year to date, homes in Orange County have sold at a stable rate: no surprise there, but the mix of motivations for these sales may shock the average observer. Basically the sales so far this year have been 60% standard sales, and 40% distressed sales. By "distressed", we have to include short sales, auction sales, and REO (Bank Owned) sales. This situation has been very consistent for all of the months so far this year - and no reason to believe that it will change soon. With low interest rates, low prices, and motivated sellers (distressed) now may be the right time to buy.