There is a trend that a lot of the distressed properties are being picked up by investors, investors are buying up the foreclosures. In the month of February the investors bought more than double the number of properties at foreclosure auctions in Orange County than they had one year ago.
The investors are buying 287 properties that are foreclosures and one year ago they purchased 140 properties.
This is a very competitive purchase at the court house steps with bidding wars and a requirement that the purchase be a cash purchase.
This statistic is amazing when you consider that the purchases increased while the foreclosure sales are dipping with less inventory.
Tim Lorenz
Instant MLS Listings & Free Market Analysis
"We have actually closed many short sales!"
949-282-2521
Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!
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