Anaheim Short Sale Market Update Through Mid-September 2012 The Anaheim California area has hundreds of short sale properties available at any one time, and the market for short sale homes is staying steady through the middle of September, 2012. Properties are available ranging from starter homes to luxurious custom designed estate properties that go into millions of dollars in price.
Buyers will also find beach city homes and high-end luxury coastal homes. When the real estate market drops in any area, there are bound to be more short sale homes available. This has also been the case in Anaheim and the surrounding area.
Those searching to buy short sale homes in and around Anaheim will be instrumental in helping some of the struggling homeowners to sell their properties. This frees the homeowner from the possibility of going into the foreclosure process. There are over 700 homes available to buy through short sales in Anaheim and seven of the surrounding communities as well.
Here is the breakdown of available short sale homes in and around Anaheim, California:
- Anaheim 159
- Buena Park 34
- Fullerton 143
- Placentia 58
- Garden Grove 7
- Santa Ana 324
- Yorba Linda 5
- Cypress 46
Short sale properties and REO (Real Estate Owned) properties are different in that short sale homes involve the homeowner and the potential buyer. The agents for the homeowner attempt to forge an agreement to sell the home at a lower price than the amount the homeowner still owes on the property. The idea is to try to come to a satisfactory agreement with the lender, which can take some time to do. When successful, homes bought under a short sale agreement can usually be bought for a bargain price.
In the case of an REO sale, the bank or financial institution, or lender, goes into negotiations directly with the buyers real estate agent or representative. The homeowner is not involved in the sale since the home went into foreclosure. Foreclosure properties can also be a bargain for buyers, when good quality foreclosed upon homes are available for sale.
Sometimes the two types of properties for sale are simply put together because of the close relationship between these kinds of properties. The entire area of Orange County California has a lot of short sale and foreclosure properties available to buy as of mid-September of 2012. Relief may not be in sight until the market improves.