Even though Irvine CA is the economy driver at Orange County CA and has lots of jobs at private and public sector employers, foreclosures continue to be an important part of the real estate landscape.
Irvine was like other cities in California during June 2011 and had slower property foreclosure activity ~ notice of property default filings were down 24.6% from May 2011 and down 19.7% vs. June 2010.
Irvine’s notice of trustee auction sale filings were down 19.6% as compared to May this year and down 33.8% as compared with June 2010.
Irvine’s foreclosure outcomes during June 2011 were interesting with Back to Bank REOs 31.8 percent higher than last year during June 2010.
Irvine’s foreclosure outcomes had 15.3% fewer properties sold to third parties at trustee auction sales as compared with June 2010.
The Irvine CA foreclosure filing numbers down is probably related to lender’s slowing of their processes so they can confirm what entities have legal right to start and complete the non-judicial foreclosures.
Irvine CA has 387 properties in foreclosure process with trustee auctions scheduled at some time during the next 60 days.
CONTACT US HERE if you want to see and receive an email list of Irvine properties now in foreclosure with trustee auctions scheduled.
Source information and graphics is from ForeclosureRadar.com. This is not the providing of legal or tax services. Buying of foreclosure real estate is risky. Any buyer of foreclosure real estate in Orange County CA should be very careful about decisions and consult with a lawyer, accountant, title insurer, and real estate professional to determine whether buying such property is in their best interest.
Harrison K. Long – solutions for real estate and business – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com(email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs®