We (www.mysocal-realestate.com) have been tracking foreclosures in Orange County since the fall. The numbers have been increasing steadily, especially in Santa Ana and Anaheim. 10,600 (NOD, NTD, REO) is a lot bigger number than the mainstream media let on. The worst part is the erosion on wealth affecting all home owners.
We make use of specialized software to compare the foreclosure activity to the MLS data to find pockets of opportunity and risk. One of the main features we use extensively is sort by $/sqft with filters for size, type, and # of bedrooms to see which cities and areas are worse off than others.
We meet each Friday afternoon in Laguna Beach and are more than happy to share our property and market finding with others. Or just drop us a line through out website.
www.mysocal-realestate.com
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March 28th, 2010 at 3:37 pm
You’re probably …
You’re probably talking about the EB5 Investor Visa which requires the investor to employ 10 people on top of the half-million to a million out of pocket in order to qualify but which is not necessary under the solution that I had in mind. AFAIK, that program also has a numerical cap which doesn’t help either and also serves as a deterrent on top of the bureacratic red tape inherent in big brother.
March 28th, 2010 at 3:37 pm
There is already a …
There is already a law for this and it is minimun one million dollar investment in housing or other sector of economy. But this does not work out because so many other reason.
March 28th, 2010 at 3:37 pm
i live in orange …
i live in orange county.
March 28th, 2010 at 3:37 pm
A novel solution …
A novel solution would be to entice would be immigrants to the US with instant green cards for them and their families if they buy a foreclosed property a little above market rate. It might arrest the market’s decline momentum and even cause it to rebound. There are enough people in the emerging markets of Brazil, Russia, India and China who might find it a good deal.
March 28th, 2010 at 3:37 pm
1. Inflation has …
1. Inflation has caused huge increases in the cost of food, energy and gas while incomes remained stagnant. Thus, less money is available for mortgages compared to the pre-bubble era.
2. For every borrower, there is a lender. Foreigners are no longer lending money to Americans and most citizens not saving. Banks simply do not have the money to lend.
3. Consumer culture has not changed, most people are behind in credit card debt, let alone save up for a 20% downpayment.
-60% from peak
March 28th, 2010 at 3:37 pm
I worry about our …
I worry about our economy being sucked down the toilet with theirs because of our attached at the hip trade policies regarding the US.
March 28th, 2010 at 3:37 pm
How’s that Bush …
How’s that Bush economy going?