Foothill Ranch Blog

There are 33 properties in Foothill Ranch currently listed on the MLS. (One of them is actually in Portola Hills but entered incorrectly.) 22 short sales, 1 foreclosure and there are 10 normal sales.
14 properties have closed since July 1st: 5 short sales, 5 foreclosures and 4 normal sales. 
61 properties are in escrow: 47 short sales, 4 foreclosures and 10 normal sales. When a short sale is in escrow on the MLS most of the time it is still awaiting the banks approval on the terms. Which means the chances of the escrow closing are low compared to normal sales.
To answer my question: What happened to the wave of foreclosures? It may still be coming because many of the 69 short sales in escrow and active on the market will probably become foreclosures in the next 6 months.