Orange County Real Estate News: epicenter of frauds?

Here's yet another reason to make sure you are working with the right team of Orange County realtors. Real estate fraud. It was just reported by the California’s Legislative Analyst’s Office that Orange County law enforcement agencies investigated the most real estate fraud cases (among the state’s most-populated counties) for the fiscal year 2011-2012. Orange County was the Orange County was the second most investigated county for real estate fraud cases in 08-09. 

These figures come from a regular report produced by the analyst’s office about California counties that participate in something called the Real Estate Fraud Prosecution Trust Fund Program. Enacted by the Legislature in 1995, the program allows counties to charge a small fee for the filing of certain real estate documents, with the proceeds supporting the fight against real estate fraud. The fees were upped from $2 to $3 in 2009.

As part of the law, the district attorneys of participating counties are require to file an annual report with their county board of supervisors and the LAO detailing the number of real estate fraud cases filed as well as financial information about the health and condition of their trust fund.

The report released this month lists 22 of the state’s 30 most-populated counties participating in the program, although the LAO has suspected in the past that some participating counties have failed to file annual reports.

Even if that’s so, the numbers for Orange County are still striking. In the last fiscal year, Orange County investigated 340 cases of real estate fraud. The next highest county that year was Los Angeles, with 234 cases investigated.

When investing in Orange County Real Estate, make sure you are placing your trust with the right team of Realtors. Our office has been in business for 12+ years and all of our agents are experienced and know not only the areas but are well connected with our Orange County Realtors.

For more Orange County real estate news and happenings, follow us on Twitter @OCHomebuyer or check us out on Facebook at Orange County CA Homes.



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