March Home Sales Report For Orange County California Real Estate and A Income Tax Update!
March Sales
According to the MLS there were a total of 2312 Close Sales in the month of March. That is up from the February total of 1696, but down from the March 2010 total of closed sales of 2845. Remember that these are the closed sales reported in the MLS and may not include all home sales.
Of the closed sales in March 2011 24.4% were Short Sales and 19.6% were REO sales. In February, 29.5% of the closed sales were Short Sales and 20% were REOs. In March of 2010, 23% of the closed sales were Short Sales and 12.65% were REOs.
Current Inventory
The current inventory of active listings in Orange County is almost 11,000. Of those, a bit more than 29% are Short Sales and only 6% REOs.
Pending Sales
Of the pending sales in the MLS for Orange County, which includes listings reported as pending or taking backup offers, 55% are Short Sales and 10.5% are REOs. Compare the percentage of Short Sales pending versus the percentage of Short Sales closed. Is that difference because only half of Short Sales close, or because they just take so darned long to close? Probably both.
Income Taxes Not Due Until April 18th
Due to a legal holiday in the District of Columbia, Emancipation Day, on Friday, April 15th, the deadline to file Federal Income taxes is delayed until Monday April 18th. Apparently, if there is a legal holiday in DC, the Federal Government is required by law to treat it as if it were a Federal holiday.
California has conformed to the Federal deadline, meaning California tax returns are also due by the 18th instead of the 15th this year.
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Larry Weichman is President and Broker of Costa Mesa-based real estate powerhouse Weichman Realtors,"the most trusted name in Costa Mesa Real Estate". Larry and his highly-trained team of professionals have proudly served Costa Mesa since 1976. For questions about an upcoming sale or purchase, call him directly at 714-241-4532 or email your questions to Larry@TeamWeichman.com. Be sure to visit Larry Weichman in Costa Mesa CA for the latest news and information on the Costa Mesa real estate market. Lic #00573423
(714) 241-4532
1525 Mesa Verde Drive East
Costa Mesa, CA 92626-5221
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