Redfin OC blog: It's alive (again)!

When Redfin recently announced it decided to alter its Sweet Digs OC blog, shifting from more conversational, analytical posts to focus more on hard data, we were curious to see what would come of it. Today we have been treated to the first new post, which analyzes cities and neighborhoods in Orange County that have seen the fewest and most listings with price reductions.

Here is the graphic from the Redfin blog of "Orange County Cities/Towns with the Most Reduced-Price Listings (before being sold or removed from the market)". Whew, what a title! But, we get it...we think.

Now, the same thing but in reverse - areas with not a lot of listings with price reductions:

The data is further broken down into which neighborhoods' listings have had the fewest and most price reductions. We're not going to post all of them here, but they are certainly worth checking out.

So, what does it all mean? We thought we might have a clue after seeing the first two charts - makes sense that listing prices in expensive areas would need to start coming down as credit troubles have moved upward to inflict borrowers in higher-priced areas and tax brackets.

Then, it also would make sense that Lake Forest and Santa Ana would be on the list of least price reductions, because those areas have a lot of foreclosures and other distressed properties. Those tend to be priced aggressively from the start and don't need much adjusting to find a buyer. Is Irvine on that second list because the Kool-Aid is still flowing mightily up there? Could be.

That's our non-sensical two cents . We do know this, though: Keep that local data coming, Redfin.