Most of our south Orange County Coast cities went against the grain and reflected the opposite of the countywide trend by seeing an increase in distressed properties for sale.

Two weeks ago, Dana Point’s percentage of short sales and foreclosures was 24.7%, which has risen just slightly to 24.8%.

Laguna Beach also saw a slight increase in distressed properties. The percentage of short sales and foreclosures rose from 9% two weeks ago to 9.3%.

CityListedDistressed%
Dana Point 234 58 24.8
Laguna Beach 300 28 9.3
San Clemente 343 107 31.2
Talega 61 35 57.4

San Clemente, however, saw a decrease in distressed properties for sale. The city’s stock of distressed properties for sale dropped from 32.8% to 31.2%.

Talega’s distressed properties increased too - two weeks ago the percentage of distressed homes in this large community was 52.4%, which has risen substantially to 57.4%.

Countywide, the percentage of short sales and foreclosures dropped from 34.8% to 33.7%.  That does not mean that there are fewer distressed homes coming on the market; rather, it means that the increased demand is eating up the active distressed inventories. Over the past month, the number of distressed and non-distressed homes to hit the market has been increasing, but many are going off the market as pending sales just as quickly as they are coming on.

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