Mathew Padilla of the Orange County Register reports that as many as 50% of the home sales in Lake Forest are "distressed sales" (i.e. foreclosure or short sales).
As for the rest of illustrious Orange County as a whole, the estimate is that a third (32%) of all home listings are "distressed sales", up by 422 and a 9.5% change over recent two week time frame.
Scary.
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