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Homeowners and condo owners in Orange County are beginning to see their "investments" losing steam. A recent report by First American CoreLogic, and as reported on by John Lanser of the OC Register, shows that home owners in Orange County are making less and less on their properties. Most alarming was the percent of homeowners who LOST money on their ‘investment’.
Last month, 7.1 percent of March sellers got less than their purchase price. In November, the loss rate was 4.3 percent.
That’s nearly double quarter over quarter. I am sure that number will continue to climb. Nearly 10% of all condo owners lost money on the sale of their property in March as well.
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