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It looks like the first closing in the Oaks neighborhood this year will be a bank-owned home. It is one of the 4 bedroom single story homes that came on the market on August 22, priced at $474,900, and went in to escrow on September 15. Since it was on the market more than a week, I will bet that the sale price will be somewhat less than asking.
When this closes, it will not help the comps for the other 5 listings that are on the market, but that is the state of our real estate market today. Bank-owned homes have made up over 41% of all closings in Lake Forest for the most recent 90 days!
