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Quarter Million Discounts in Orange County

Because of the buyer's market that has been driving real estate for the last several months as property values dip, some home buyers in the O.C. are seeing some massive discounts on desirable property.

Both in the inland counties and in valuable beach cities properties are being discounted by thousands, and sometimes hundreds of thousands, of dollars.

Now might be the best time to buy that first dream home in the beautiful California county, whether as permanent residence or an investment and winter home.

According to DataQuick Information Systems, nearly 1 out of 4 homes that were sold in Orange County in the first half of 2008 were foreclosures.

And with the bnks needing to unload so many properties, discount rates have been easy to find, homes are often selling for more than 20 percent less than they might have been purchased for a year ago.

Because of this they are selling at a rapid rate, the estimated market average that a house is on the market is only 2 to 3 months, a drastic reduction just since the beginning of the year.

People who were previously on the fence about making a home purchase have been coming in on the side of purchasing, unable to resist the temptation of homes that sell for up to 250,000 dollars less than they did just 1 short summer ago.

If you're interested in real estate in the Orange County area, the drop in the real estate bubble might be providing just the opportunity you're looking for.

Adam Brett
800.997.ADAM
RE/MAX NOC
Fullerton, CA
www.Realtoradam.com

Posted by Adam Brett - Fullerton, California Realtor on 08/22/2008 03:44 PM

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