Orange County Real Estate Market Update 9/5/17

The housing market in southern California remains strong but seem to be loosing some of it’s steam and slowing slightly. This is a good thing considering how low the home inventory has remained throughout the year. Hopefully the slight slow down will be a chance for buyers to see more home’s on the market before they go into escrow.

Orange County’s red-hot housing market cooled in July — but only slightly, new housing figures released Tuesday, Aug. 29, show. The median price of an Orange County home — or price at the midpoint of all sales — dipped to $690,000 last month, the Irvine-based real estate data firm reported. That is down from the all-time high of $695,000 reached in May and June, CoreLogic figures show. But last month’s median still was up $50,500, or 7.9 percent, from July 2016.

Sales, meanwhile, also cooled somewhat from this past spring’s home buying frenzy. CoreLogic reported 3,278 houses, condos and townhomes changed hands last month. That’s 21 units shy of the July 2016 tally, a decrease of 0.6 percent year over year. Last month’s sales drop could have been caused by a jump in transactions to an 11-year high in June, said CoreLogic Research Analyst Andrew LePage. “The drop-off in activity suggests that late-spring homebuyers burned through a sizable chunk of an already tight inventory of homes for sale, which then constrained July sales,” he said. Jordan Levine, senior economist for the California Association of Realtors, said the July market is repeating a story that has been playing out in the region for the last four years. “There’s far more demand than supply,” Levine said. “At the same time, unemployment came down and incomes are coming up. That’s a recipe for higher prices.”

Tags: , , , , ,

Orange County Real Estate Market Update 8/1/17

The housing market in Orange County has continued to get a little more difficult for home buyers. The inventory of homes for sale has continued to go down over the last few months. So buyers have less options and more competition especially in the lower price ranges. Sellers are getting high prices for their home’s but there are fewer owners choosing to sell. One reason for this is that would-be sellers are not sure they will be able to find a suitable replacement property if they do sell. The uncertainty is really creating a self-fulfilling prophecy where sellers cannot find homes because sellers do not want to list homes. About 30-35% of buyers are opting to buy a home directly from homebuilders because they cannot find what they want on the resale market. The low inventory and high buyer demand is continuing to push prices higher, so far around 5-6% this year.

Amid the lowest housing inventory levels of the year, existing home sales in California took off in June to their highest pace in nearly four years as existing home sales and median home price recorded strong gains on both a monthly and annual basis for the second straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. “With active listings 13.5 percent lower than last June, we’ve now experienced a full two years in which active listings have fallen on a year-over-year basis and the lowest inventory level this year. Would-be sellers aren’t listing their homes as many of them would also face an inventory challenge if they were to turn around and buy another property.” Says C.A.R. President Geoff McIntosh.

Tags: , , , , ,

Orange County Real Estate Market Update 7/5/17

The Orange County real estate market has continued to climb over the last few months. A surge in home buying pushed Orange County home prices to a record high for a second straight month, curbing affordability more as buyers compete for a limited number of available houses and condos. The median price of an Orange County home — or price at the midpoint of all sales — soared in May to $695,000, up $20,000 in a month, real estate data firm CoreLogic reported Wednesday. That’s also up $43,500 or 6.7 percent from a year earlier. Sales, meanwhile, increased 1.9 percent from May 2016 to 3,682 transactions last month, aided by still-low mortgage rates. Last month’s sales tally was the highest for a May in four years. Orange County home prices have gone up on a year-over-year basis for 61 consecutive months, climbing $260,000, or 65 percent.

Despite the Fed rate hike, home loan rates have remained flat over the last month. From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.88 percent, improving 2 basis points from last week’s 3.90 percent and dropping to the lowest rate since November. The 15-year fixed averaged 3.17 percent, unchanged from last week.

Tags: , , ,

Orange County Real Estate Market Update 5/2/17

Homeownership in Los Angeles and Orange counties started 2017 at a 2-year high but still ranks among the nation’s worst. In the L.A.-O.C. region, ownership hit 50.1 percent in the first quarter, the third worst share in the U.S. Census Bureau’s quarterly tally of households living in a home they own in 75 large U.S. metro areas. L.A.-O.C. ranked last in ownership in all four quarters of 2016. However, the region’s latest result is an improvement compared with 48.4 percent in the fourth quarter and 49 percent a year ago.

Homeownership is on the rise across much of California as the rate hit 55.1 percent in the first quarter, highest since 2011’s second quarter. Nationally, the state was fourth lowest behind the District of Columbia, New York and Nevada.

Condo owners got some good news recently if they are considering selling. A new housing report shows the typical resale condominium – relatively affordable housing for moderate-income homebuyers – now fetches almost a half-million dollars. In March, the median price of an Orange County resale condo hit $475,000, or $5,000 more than the record set during the housing boom, housing data firm CoreLogic reported Tuesday.

Home loan rates have remained mostly flat over the last month. From Freddie Mac’s weekly survey: The 30-year fixed rate broke the 4 percent barrier, rising 6 basis points and landing at 4.03 percent. The 15-year fixed also was up a bit, averaging 3.27 percent, 4 basis points worse than last week’s 3.23 percent.

 

Tags: , , ,

93 Livingston Place, Ladera Ranch | JUST SOLD $749,000!

93 Livingston Place, Ladera Ranch is an upgraded single family home that was for sale in the community of Wescott. Scott Bingham of Beach Cities Real Estate has JUST SOLD this home where he represents the Sellers in this real estate transaction. The home was listed for $749,000 and ended up selling for full price! That makes this home the most expensive sale ever in the Wescott neighborhood by over $45,000! The property is a 4 bedroom, 2 ½ bath, 2 car garage, and 2067 SQFT. 4 Bedroom homes are rare in this neighborhood and this home has the largest floorplan found in Westcott. The home is well upgraded with granite counter tops, stainless steel appliances, hardwood floors, crown molding, and plantation shutters throughout. The Ladera Ranch master planned community features 10 pools, 18 parks, 4 club houses, tennis courts, playgrounds, wireless internet, hiking trails, private waterpark, skate park, dog park, and much more!

If you are looking for a home in Ladera Ranch or anywhere in Orange County, give Scott a call 949-412-3515. You can also see everything for sale online www.LaderaRanchRealEstate.com.

Tags: , , , ,

Coto De Caza Homes for Sale

Coto De Caza is master planned guard gated community made famous by the TV series ‘The Real Houses Wives of Orange County’. Nestled in the foothills of Trabuco Canyon on the eastern boarder of Orange County, the community spans approximately 8 square miles of land and features equestrian facilities for horses, golfing, fishing, tennis, swimming, and much more. The entire city of Coto De Caza is a large guard gated community. The resort like feel of the community offers charm and pleasure to all those privileged to live within the community. Not only are the amenities plentiful but the homes that grace its gorgeous land help make Coto de Caza a one of a kind place to raise a family in south Orange County. Coto De Caza is located to the north of Ladera Ranch.

Here is access to all the homes currently for sale in Coto De Caza: Coto De Caza Homes for Sale.

Tags: , , ,

Rancho Mission Viejo Homes for Sale


Rancho Mission Viejo is a new community being built in south Orange County which began in 2014. The community will be located to the east of San Juan Capistrano and south / south-east of Ladera Ranch. The community of Rancho Mission Viejo is the largest housing development ever planned for south Orange County. It eventually will have 14,000 homes developed in multiple villages over the next two decades, with talk that it could become Orange County’s 35th city. The first phase(village) in the community is already completed and is named Sendero – the Spanish word for path – a development of about 940 homes and 200 apartments where Ortega Highway meets Antonio Parkway. The second phase(village) is named Esencia and is currently being built out. This village will feature 42 unique models and a variety of attached and detached homes in distinctive neighborhoods. That includes four Gavilán neighborhoods with single-level living for the 55+ crowd. All models for the 2nd phase are currently open.

Here is access to all the homes currently for sale in Rancho Mission Viejo: Rancho Mission Viejo Homes for Sale.

Tags: , ,

Aliso Viejo Homes for Sale

Aliso Viejo is a city located in south Orange County near the coast. It’s located to the East of Laguna Beach, to the south of Laguna Hills, and to the north of Laguna Niguel. Aliso Viejo is a planned community that is business oriented and attracts a very highly educated demographic. The homes vary considerably in both size, style, and price. There are condos, single family residences, multi unit properties, and even gated community million dollar homes. Most of Aliso Viejo is suburban communities with business parks spread throughout the city as well. Aliso Viejo is a great option for buyers that want to leave near the ocean but not pay as much to live in a coastal community.

Here is access to all the homes currently for sale in Aliso Viejo: Aliso Viejo Homes for Sale.

Tags: , , ,

Mission Viejo Homes for Sale

Mission Viejo is a one of the biggest cities located in south Orange County. The city is also considered one of the largest master planned communities in California. The city is mainly residential, although there are a number of offices and businesses within its city limits. The city is known for its picturesque tree-lined neighborhoods and received recognition from the National Arbor Day Foundation. Mission Viejo is also known for it’s man made lake. Anyone living in Mission Viejo has access to the lake for water sports, fishing, and enjoyment.

There are 3 areas in Mission Viejo which are named Mission Viejo North, Mission Viejo South, and Mission Viejo central. Mission Viejo also has a large gated senior community named Casta Del Sol.

Here is access to all the homes currently for sale in Mission Viejo: Mission Viejo Homes for Sale.

Tags: , ,

Laguna Niguel Homes for Sale

Laguna Niguel is an ocean close community in southern Orange County. The city was incorporated in 1989 and is located to the east of Laguna Beach as well as Dana Point and parts of the city are less than a mile to the ocean. Many of the communities in Laguna Niguel also have ocean views. Laguna Niguel has many different home types to choose from, everything from one bedrooms condos to large gated estate homes. You can find homes in all price ranges in Laguna Niguel. Laguna Niguel is known for being a suburban city that’s relatively affluent, with median household income 31 percent above the Orange County average and nearly double the U.S. average. It is known for its mild coastal climate, low crime rate and its numerous parks and public trails.

Here is access to all the homes currently for sale in Laguna Niguel: Laguna Niguel Homes for Sale.

Tags: , ,