Deals To Be Had On The Irvine Real Estate Market

Distressed properties make up 25% of current Irvine homes and condos for sale

Posted on July 13, 2011 by Glen.

The summer season is the busiest time of year in real estate, with homes selling at a greater pace than usual due to families wanting to settle before school starts for their children and the fact that many people are able to take vacations during summertime to deal with the arduous process of finding a new Irvine home or Irvine condo.  The great news is that there are still a variety of incredible deals to be found on the Irvine real estate market, especially when it comes to distressed properties.  According to this article in the Orange County Register, there are 841 active real estate listings on the Irvine market as of July 7th, and 25% are either short sales or foreclosures.  These statistics highlight a couple of things - there are plenty of home and condo options from which to choose, and those looking for a great deal will have no trouble finding one in Irvine.  For the past couple of years, short sales and foreclosures have consistently offered the best price points on the national real estate market, and Irvine is no exception.  Distressed properties can be purchased for less than a standard sale, mainly because the lender involved wants to unload the home from their overall portfolio quickly and may be willing to offer the home below market to ensure a quick sale.  Purchasing a short sale or foreclosure can produce some headaches, but the benefit of buying a great home for a lower price can prove too enticing for those looking for the next great deal.

If you would like more information about Irvine real estate, please do not hesitate to contact us.

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