How Distress is our market?
12/26/2007 – 12:09 pmA common statement that I hear about Orange County is that it is insulated and will retain values higher than other areas. That seemed to make sense and I was looking for empirical data to support this statement.
Often you can find the condition of an area by looking at demand and many times unbalanced markets can be an indicator of property value insulation. In the chart below are 4 counties that show total active resells and distressed banked sales.
What I found interesting is that Orange County has the second highest percentage of distressed sales with the highest percentage of bank REOs. Also it is remarkable to see that the total market percentage of bank distressed sales for 4 counties runs over 17% with 20% of those as Bank Owned Properties.
One Response to “How Distress is our market?”
Great insight. This is a perfect example of how people hear, believe and repeat things that can be far from reality.
By elliot on Jan 26, 2008