Lake Forest Foreclosed Homes Break the $400K Barrier for Single Family Homes

Bank owned homeThe foreclosures and short sales in Lake Forest are continuing to pressure the resale real estate market.  Last month, for the first time in over 4 years, a single family house closed at a price under $400,000.  It was a small bank owned home, that had been listed at $414,000 but closed at $395,000.  The previous sale of that house had been $625,000 in September 2006, using 100% financing. 

There are currently 2 homes in the active status that are priced at $399,900 and 1 other that is currently on hold. 

 

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