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Huntington Beach Short Sales - By the Numbers

02-10-10

Christine Donovan Costa Mesa Real Estate Broker/Attorney 800-610-7253 DRE01267479

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Office: (800) 610-7253

Huntington Beach Short Sales - By the Numbers

Huntington Beach has seen a large decline in prices in the past few years, just like the rest of Orange County. As a result, short sales have become common place.

It's obvious from reviewing the numbers for the current Huntington Beach real estate market that it too reflects this loss in value.

There are 489 homes currently for sale in Huntington Beach, and 120 of them are short sales or in the foreclosure process. This means that nearly 25% of all of the homes that are for sale are short sales.

When looking at the homes in escrow, the numbers are even more incredible. 129 of the 291 homes that are currently in escrow are short sales. Thus, the majority of homes in escrow are short sale, with nearly 55%.

Even more interesting is the fact that of the 1584 homes that sold in Huntington Beach in the last 12 months, only 260 of them were short sales. Considering the fact that that the majority of homes that are currently in escrow are short sales, it makes one wonder why only 16% of the homes that sold in the last year were short sales.

My hope is that we'll see these numbers even out and a closer ratio between the number as more lenders begin to approve short sales. However, I fear that we will continue to see that many homes in this situation that go in to escrow as won't close.

Why do so many fewer homes close? I believe there are several reasons. The first is that it can be difficult to get the lender to approve the short sale. Secondly, even if the lender approves, it can take months, and often the buyer gets frustrated and cancels the transaction. Additionally, not all sellers may have been properly qualified to be a short sale seller.

If you are upside down in your home, are facing potential foreclosure and would like to know your options, please contact us at 714.319.9751 for a free consultation to discuss your options.

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Huntington Beach Real Estate Minute - Huntington Beach Market Report

02-07-10

Christine Donovan Costa Mesa Real Estate Broker/Attorney 800-610-7253 DRE01267479

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Office: (800) 610-7253

Huntington Beach Real Estate Minute - Huntington Beach Market Report

Huntington Beach well known as “Surf City USA” with its excellent surfing has 8.5 miles of beaches and over 200,000 residents with 11 million visitors annually coming to see events such as the US Open of Surfing, the Surf City USA Marathon and AVP Pro Beach Volleyball.

Surf City USA

It is also known as one of the 10 safest cities. Huntington Beach Real Estate offers a wide variety of housing from moderately priced condos to multi-million dollar estates.

Below is the current Huntington Beach Homes report:

Huntington Beach Real Estate,Huntington Beach Homes

The real estate market in Huntington Beach right now has very little inventory, making it competitive for buyers in the lower price ranges. Persistence and patience should be used to find just the right house.

Real Estate Market reports for other local areas of Orange County:

Central Costa Mesa Real Estate Report

South Coast Metro Real Estate Report

Costa Mesa Real Estate Report

Central Costa Mesa Real Estate Report

South Coast Metro Real Estate Report

Mesa Verde Costa Mesa Real Estate News

Westside Costa Mesa Real Estate Report

Eastside Costa Mesa Real Estate Report

Newport Beach Real Estate News

Fountain Valley Real Estate News

Click this link to learn about the NEW Huntington Beach First Time Buyer Program.

For more information, please visit Huntington Beach real estate values.

Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!

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Run Surf City . . . . Run!!

02-06-10

Sharon Paxson Newport Beach Real Estate

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Office: (949) 219-2485

Mobile: (949) 280-0681

Run Surf City . . . . Run

The Surf City Marathon in Huntington Beach is tomorrow February 7, 2010. The marathon begins at 6:30 am. I have driven by there and they are set up, and there are many participants registering for this event.

The participation for the Surf City Marathon in Huntington Beach is one of the largest ever, with over 20,000 participants. Other events include the half marathon, and a 5K run. There is also a children's run. You can go out and cheer on the participants in this run! Hopefully, the weather will cooperate, as it has been raining all day, however there are some blue skies in the distance over in Huntington Beach.

Huntington Beach skies clearing 004

Huntington Beach skies clearing 005

If you want to spectate at the Surf City Marathon in Huntington Beach, you can find the route information and street closure here. I suggest arriving early as there is a large turn out this year.

If I can answer any questions about this event, please contact me.

Phone or Text: 949-280-0681

Email: Spaxson@roadrunner.com

Originally posted at NewportBeachRealEstateCafe.com

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Huntington Beach Homeowners Receive Up To $6,500 Tax Credit

02-02-10

Dixon Team OC

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Office: (714) 846-3800 x143

Mobile: (949) 295-5628

The IRS finally released details regarding the New Homebuyer Credit as it applies to existing homeowners who are purchasing a new/different primary residence. We already knew if you were a first time homebuyer you could qualify for a tax credit up to $8,000. What was far less publicized was the credit for existing homeowners. If you own and have lived in your Huntington Beach home for 5 of the last 8 consecutive years, and are purchasing a different home to serve as your primary residence, you may qualify for a tax credit up to $6,500. So, if you are thinking of selling your home in Huntington Beach or Orange County, either downsizing or moving up, this may be the time. The tax credit only applies if you are in escrow by April 30, 2010, and you must close escrow by June 30, 2010. For more details, visit http://www.irs.gov/newsroom/article/0,,id=204671,00.html .

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Huntington Beach Real Estate Minute - Huntington Beach Market Report

01-31-10

Christine Donovan Costa Mesa Real Estate Broker/Attorney 800-610-7253 DRE01267479

view my blog
Office: (800) 610-7253

Huntington Beach Real Estate Minute - Huntington Beach Market Report

Huntington Beach well known as “Surf City USA” with its excellent surfing has 8.5 miles of beaches and over 200,000 residents with 11 million visitors annually coming to see events such as the US Open of Surfing, the Surf City USA Marathon and AVP Pro Beach Volleyball.

Surf City USA

It is also known as one of the 10 safest cities. Huntington Beach Real Estate offers a wide variety of housing from moderately priced condos to multi-million dollar estates.

Below is the current Huntington Beach Homes report:

The real estate market in Huntington Beach right now has very little inventory, making it competitive for buyers in the lower price ranges. Persistence and patience should be used to find just the right house.

Real Estate Market reports for other local areas of Orange County:

Central Costa Mesa Real Estate Report

South Coast Metro Real Estate Report

Mesa Verde Costa Mesa Real Estate News

Westside Costa Mesa Real Estate Report

Eastside Costa Mesa Real Estate Report

Costa Mesa Real Estate Report

Newport Beach Real Estate News

Fountain Valley Real Estate News

Click this link to learn about the NEW Huntington Beach First Time Buyer Program.

For more information, please visit Huntington Beach real estate values.

Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!