Here's a link to the latest report on real estate activity in Orange County, as prepared by the president of my company:  http://www.OurAgentSpot.com/sthomas/MarketTime-Oct-16-08.pdf   This report is chock full of graphs and statistics to support his findings.

For a brief synopsis, Orange County's inventory of houses has leveled off a bit - stopping a 5 or 6 month steady decline.  That can pretty much be attributed to this time of year.  In addition, the number of new escrows has also leveled off - much higher than the previous two years at this time, but about the same number as last month.  This is also a seasonal situation.

Our local real estate market gradually improved for the past 6 or 7 months, and has been regularly been reported in this blog.  Some readers, who noticed this trend months ago, were able to take advantage of some remarkably lower prices than the previous year or two.

The good news is that there is still a high number of distressed properties coming onto the markets, and that these represent more excellent opportunities, for the astute buyer/investor.

If you are looking to buy or sell a property in South Orange County, I began my career in this area almost 32 years ago, and have been through numerous cycles, some just like this one.  I would be pleased to be your Realtor of choice.

Send me an email ( agent.BobPhillips@cox.net )  or give me a call. 

        Bob Phillips, Altera Real Estate, 949-643-2100.