Many areas in Southern California are experiencing a low inventory of foreclosures, short sales and bank owned homes for sale. In Orange County distressed properties account for less than 7% of listings.
Its a different story in the east valley. Distressed homes represent 15% of listings in San Bernardino, Highland, Redlands and Yucaipa. 103 of 722 in the MLS are distressed. More importantly, more than 425 foreclosure properties are set to be sold at action in the next 90 days in these east valley cities.
This creates a golden opportunity for investors poised to buy, renovate and hold or flip. And for first time buyers who are frustrated by the regions low inventories.
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