Distressed inventory has dropped in two of our SoCo cities, but continues to rise in one, according to a biweekly report done by Steven Thomas of Altera Real Estate.

Two weeks ago, Dana Point’s percentage of distressed active inventory (foreclosures and short sales) was 24%, which has now dropped slightly to 23.5%.

Laguna Beach’s percentage of distressed active inventory also dropped - last week it was 6.2% of the active inventory and now it has dipped to 5.3%.

However, San Clemente has since seen a slight jump in distressed inventory. Two weeks ago the percentage of distressed inventory was 28.9%, which has risen to 29%.

Countywide, the percentage of distressed inventory dropped from 32.9% two weeks ago to 31.8%.

Of foreclosures and short sales countywide, Thomas says:

“With so many buyers looking for a deal, many are turning to foreclosures only to find that they are flying off the market just as quickly as they are coming on. The number of short sales on the active market has dropped to 2,507, 155 fewer than two years ago and 48% off of the peak of 4,810 established in May of 2008.”

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Posted in: Dana Point • Foreclosures • Laguna Beach • San Clemente • distressed properties • short sales • Altera Real Estate • distress • Steven Thomas |

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