Forest Creek Homes in Lake Forest YTD 3-14-08

There have been 2 closings in Forest Creek this year, and there are currently 2 in escrow.  The 2 current actives are both listed as short sales, and one property that is now on hold, is in foreclosure.

One of the properties in escrow (Via Invierno) is a short sale, so nobody knows if it will really close, or the lender will take it back.  A notice of default has been recorded, but so far there is no notice of Trustee Sale posted.  This was previously the 2nd highest sale in the neighborhood, closing at $860,000 in July of 2006 and using 100% financing.

The other property in escrow was not  a short sale, but the owner was transferred out of the area and was highly motivated to sell quickly.  It went into multiple offers and opened escrow in 3 days.  There really is a market for properties that are in good condition and available to actually be sold without having to wait for a bank to approve a short sale!  I am currently working with a well-qualified buyer who missed out on this property, so if you know of someone who is thinking about selling, please let me know! 

The latest closed sale, was previously listed as a short sale at $675,000 but successfully closed at $650,000 on March 7th.

Forest Creek Real Estate Activity YTD 3-14-08

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