Expensive Options in Exotic Locale
Orange currently has 1,134 foreclosed homes and houses for sale at its real estate listings auctions in the coming days. These homes carry a median listed price of a relatively steep $463,110. The 1,350 other FSBO homes also scheduled for sale soon bear the much higher median quoted price of $499,900. This makes it obvious that the homes on sale at the Orange foreclosure auctions are being offered at an attractive discount to the prospective homebuyers. However, as homes prices go in the different cities of the US, particularly in the ongoing times of declining home prices, the prices of properties in Orange is rather exorbitant.
Orange is a city that is situated in Orange County, in the US state of California. Orange lies to the north of the county seat of Santa Ana. Orange is quaint because several properties in its Old Town region were constructed in the 1920’s and, unlike other nearby cities that razed such structures, Orange had decided to retain and conserve them. This lends the city an exquisite aura unique to it and that you are likely to find quite ancient and charming. Orange County is home to 34 incorporated cities. A few of the suburban cities of Orange may be named as follows: Costa Mesa, Anaheim, Garden Grove, Dana Point, Laguna Hills, Irvine, Mission Viejo, Lake Forest, Stanton, Placentia, Yorba Linda, Rancho Santa Margarita, Westminster, San Juan Capistrano, Villa Park, Santa Ana, Tustin and Seal Beach.
Orange has several communities located within its city limits, and a few of the more important of these are mentioned below: Lido Isle, French Park, Dove Canyon, Balboa Island, Anaheim Hills, Atwood, Foothill Ranch, San Juan Hills, Monarch Beach, Sunny Hills, Newport Coast, Woodbridge, Portola Hills, Tustin Ranch, Santa Ana Heights, South Laguna and Santiago Hills. Besides, a few unincorporated communities lying in proximity to Orange are Wagon Wheel, Las Flores, Red Hill, Cowan Heights, Surfside, Emerald Bay, Midway City, Santiago Canyon, Covenant Hills, Tustin Foothills, Lemon Heights, Rossmoor, Orange Park Acres, Silverado Canyon and Trabuco Canyon.
Inevitable Popularity of Foreclosure Auctions
The Orange foreclosure auctions are witnessing large crowds of intending homebuyers. Why do the foreclosure auctions appear to be immensely popular among buyers across the length and breadth of the US? The auctioneer of a foreclosed house is bothered with merely recovering the balance of the mortgage loan amount from its auction. Hence, the seized homes are listed at prices that bear no correlation with their actual market values. The buyers are naturally delighted at getting magnificent properties at virtually half their prices at the dispossessed homeowners’ expense. Next, the government agencies like VA, HUD, Fannie Mae or even banks inspire the buyers’ trust. Finally, the auction procedures are transparent, the houses have clear titles, and home finance is easily available from mortgage companies.
Orange real estate market is dominated by its property brokers. Jon Polentz, Jobe Chien, Barbara J. Alsborg and lson, John David Wilson, John David count among the leading real estate agents who are active in Orange. As individuals with a keen acquaintance with the positive and negative features of most of the properties on sale, as well as neighborhoods in the city, homebuyers naturally look to the agents for guidance in making their home selections.