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Robert Foust |North Orange County | Fullerton Real Estate | Brea Real Estate

Fullerton Real Estate - Upscale homes being bid up, multiple offers syndrome

No matter what level of home that is for sale, it now appears that the good ones are bid up above list price. Fullerton real estate is undergoing a real unique period, now the higher end homes for sale are getting multiple bids in two days. We just experienced that for a home in Fullerton that had nine offers in the first three days, the listing agent then gave us all a second chance to offer "Best and Highest" in order to pick the winner. WOW -- we have seen this at the low ball - bargains - but not at the upper levels custom, premium homes. All we can say is WOW, what happened to the buyers market.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

Inventory of homes still low - Fullerton homes for sale at record lows

Fullerton homes for sale are still at record low levels. This is partly due to a bad economy and partly due to depressed prices. Owners want to sell at fair market prices, and they now think that prices are depressed (still many of them are remembering what their house used to sell for). Fullerton real estate is very typical to all of Orange County and is a good "measure" of what is happening all over the county. Even people who may want to trade up are hesitant to put their home up for sale (and compete with the low ball short sales and REO homes). As of today there are only 195 single family homes for sale in Fullerton. Also at this time there are only 65 condos for sale in Fullerton. Fullerton real estate is highly regarded, but supply is so short that it may push prices up in the local community.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

Fullerton REO homes - still difficult, multiple bids situation

Fullerton real estate is still experiencing a drought of REO homes. In fact so much so, that most of the good deals (bargains) are accepting multiple offers at once. When that happens, the sellers will ask for "last and best" counter offers from all of the bidders. Not really the situation that any of the buyers want. It ultimately becomes a blind bidding war -- where you send in your best dollar offer price you can muster up -- and hope it is good enough, but fear that you may be overpaying. Buyers, especially for Fullerton real estate, want to purchase property without the fear that they may have been tricked into paying too much.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

Short Sales more abundant than REO - North Orange County real estate update

North Orange County real estateis changing, and not getting easier to find REO homes for sale. September was the first month this year in which the number of closed transactions listed as Short Sales was greater than the number of closed transactions listed as REOs. The chart below indicates the percentages of Short Sales and REOs as a percentage of the current listings, current pending transactions, and as a percentage of the closed sales in the month of September.
Sept, 2009
Short Sales REOs
Listings 25.85% 4.27%
Pending 56.49% 9.93%
Closed 19.63% 17.81%

North Orange County real estate follows the same patterns(above figures are for Orange County), not enough REO homes for sale, but plenty of Short Sales - at least in comparison.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

Brea, city of opportunities -- more than just real estate

One of the best cities in North Orange County is Brea. This small but special little city offers many special benefits to home buyers looking in North Orange County. The Brea Mall is filled with shoppers delights, discount ,as well as top flight. Brea real estateis also a myriad of possibilities. Homes range from inexpensive condos to estates of gigantic size. Brea has a wide range of real estate, some of the most varied North Orange County real estate.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.