Orange County Real Estate Market Update 1/3/17

Happy New Year’s 2017! What do you think will be happening to real estate this year in Orange County? Most predictions have been positive about the real estate outlook in southern California. If economic indicators are any guide, Orange County’s housing market is heading for a fifth straight year of rising home prices, increased sales, more rent hikes and booming home construction.

Orange County home prices are projected to rise 2 percent to 6 percent this year. Home prices in the county have been rising steadily since the housing market turned around in the spring of 2012. According to CoreLogic, prices have been up year over year for 54 straight months, rising $216,000, or 50 percent, from May 2012 to this past May.

Interest rates for a fixed, 30-year mortgage will be 1 percentage point or more above the 2016 average of 3.6 percent. California Realtors forecast in October that mortgage rates would be around 4 percent throughout 2017 but now are revising that estimate, said Jordan Levine, a Realtor economist. He predicts rates could be in the 4.5 percent range this year and possibly as high as 5 percent. So if you’re thinking about buying this year keep in mind the rates are starting to go up so it would be smart to buy before that happens.

Tags: , , , ,

Orange County Real Estate Market Update 10/13/16

Sunset View
The real estate market in Orange County has seen another steady and strong year. The median price of an Orange County home jumped 6.4 percent to $649,000 from year-ago levels, while sales were up a whopping 14.5 percent to 3,633 transactions. Transactions were up across the board: Existing house sales were up 8.8 percent, existing condo sales increased 18.8 percent and sales of new homes of all types soared 46.3 percent above August 2015’s tally. Meanwhile, home prices were up year-over-year for a 52nd consecutive month. The price of an existing house rose 4.4 percent from year-ago levels.

New-home construction in Orange County is on track this year to hit the highest level in 11/2 decades, a new forecast and new building permit data show. And there’s a huge appetite among buyers for all those new houses, townhomes and condos. Sales also are at a 10-year high-water mark. A forecast by the California Homebuilding Foundation’s CIRB report says developers will take out 11,300 building permits in 2016 for new houses, condos and apartments, the most for any year since 2002. New-home sales for January through June were up 146 percent from four years ago, CoreLogic figures show.

Tags: , , , ,

746 Summit Drive, Laguna Beach | JUST SOLD $1,485,000!

summit-drive-laguna-beach-home-front746 Summit Drive is a historic ocean view home in the Woods Cove area of Laguna Beach. Scott Bingham of Beach Cities Real Estate has JUST SOLD this home where he represents the Buyer in this real estate transaction. The home was listed for $1,595,000 and Scott was able to negotiate the price down to $1,485,000 for his client. The property is a 4 bedroom, 2 ½ bath, 1 car garage, 1775 SQFT home. The home has sweeping ocean views, a large living room, and huge family room both with fireplaces. There’s also a fully permitted greenhouse with an ocean view and beautifully terraced gardens with ocean views. Newer kitchen with Kitchenaid six burner gas stove, stainless steel kitchenaid refrigerator, kitchenaid dishwasher, wine cooler and center island eating area. For the location and view this home is a great deal! For more information on the homes for sale in Laguna Beach or anywhere in Orange County please contact Scott Bingham at 949-412-3515.

746-summit-drive-laguna-beach-view

See what’s currently for sale in Laguna Beach and throughout Orange County at our website Ladera Ranch Real Estate!

Tags: , , ,

746 Summit Drive, Laguna Beach | IN-ESCROW!

Summit Drive, Laguna Beach home front

746 Summit Drive is a historic ocean view home in the Woods Cove area of Laguna Beach. Monday Scott Bingham of Beach Cities Real Estate has put IN-ESCROW this detached single family home where he represents the buyer in this transaction. The property is a 4 bedroom, 2 ½ bath, 1 car garage, 1775 SQFT home listed for $1,595,000. The home has sweeping ocean views, a large living room, and huge family room both with fireplaces. There’s also a fully permitted greenhouse with an ocean view and beautifully terraced gardens with ocean views. Newer kitchen with Kitchenaid six burner gas stove, stainless steel kitchenaid refrigerator, kitchenaid dishwasher, wine cooler and center island eating area. For the location and view this home is a great deal! For more information on the homes for sale in Laguna Beach please contact Scott Bingham at 949-412-3515.

746 Summit Drive, Laguna Beach View

Want to see additional information and pictures of the home? Click this link: 746 Summit Drive, Laguna Beach.

Tags: , , ,

12 Starlight Isle, Ladera Ranch | Just Listed for Lease $14,500

Home Front

12 Starlight Isle is located in the guard gated community of Covenant Hills in Ladera Ranch. Friday Scott Bingham of Beach Cities Real Estate has Just Listed for Lease this luxury home where he represents the owner. The home is available for $14,500 a month furnished. The home features dual master suites, one upstairs and one down each with its own full bath. There is a total of 6 bedrooms (4 upstairs/2 downstairs) one downstairs bedroom currently being used as a game room with a pool table. Kitchen features granite counters, full backsplash, dark fruitwood maple cabinets, stainless steel appliances, and butler’s pantry. The backyard showcases the California lifestyle with a private pool/spa, covered patio room with a built in BBQ, a Bar, and an outdoor fire pit. For more information on the homes for sale and lease in Ladera Ranch please contact Scott at 949-412-3515 today.

Outside Bar 2

Want to see additional information and pictures of the home? Click this link: 12 Starlight Isle, Ladera Ranch.

Tags: , , , , ,

Orange County Real Estate Market Update 7/6/16

Great news to begin your holiday weekend, soon you’ll be able to finance or refinance your love shack with a 30-year fixed for under 3 percent! Thirty-year mortgage rates have never been that low in the 45 years since Freddie Mac began tracking them in 1971. It appears that the economic fallout from ‘Brexit’ will at least have one upside for American home owners and for home buyers requiring financing.

This week the 30-year fixed averaged 3.48 percent, a whopping 8 basis points lower than last week’s 3.56 percent. That’s the lowest rate since May 9, 2013. The 15-year fixed settled in at 2.78 percent, 5 basis points better than last week’s 2.83 percent, and the five-year ARM (an adjustable-rate mortgage that’s fixed for the first five years) fell to 2.70 percent. Both also are at three-year lows!

The recent economic turmoil has left many wondering if the housing market will soon decline. The chance of a widespread drop in local or statewide home prices in the next two years is practically nil, according to a new forecast from a private mortgage insurer. Arch MI’s quarterly housing reports pegs the risk of a price drop based on a host of real estate trends, credit market factors and economic patterns. Recent economic turbulence has raised questions about the durability of housing’s rebound from its collapse and the Great Recession.

Based on first-quarter data, Arch calculated the risk of price drops in all of California – as well as in Orange, Los Angeles, Riverside or San Bernardino counties – at a “minimal” 2 percent vs. 5 percent nationwide. A year ago, California’s price-drop risk was 8 percent, equal to the national risk level in 2015’s first quarter. “We see no housing bubble in Southern California,” says Ralph DeFranco, chief economist for Arch MI’s owner, Arch Capital. “Even though homes feel expensive, they are supported by the amount of income people have.”

Tags: , , ,

25082 Champlain Road, Laguna Hills | JUST SOLD $700,000!

IMG_7459where he represents the Sellers in this real estate transaction. The home was on the market for only 12 days before accepting an offer and opening escrow! The home was listed for $714,900 and ended up selling for $700,000! The home is a 4 bedroom, 2 bath, 2 car garage, with 2,500 square feet of living space. The home upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The community has two parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! If you’re looking for a home in Laguna Hills or anywhere in Orange County give Scott a call 949-412-3515.

IMG_7468

See what’s currently for sale in Orange County at our website Ladera Ranch Real Estate!

Tags: , , ,

Orange County Real Estate Market Update 3/1/16

The National Association of Realtors said that its seasonally adjusted pending home sales index fell 2.5 percent to 106 in January. The decline comes after the sales index averaged 108.9 in 2015, its highest level since 2006. The number of signed contracts decreased in the Northeast, Midwest and West. Prospective sales improved slightly in the South. But a shortage of listings has weighed down the potential for sales increases akin to last year’s increase. Steady job growth and low mortgage rates have bolstered demand for housing from the recent lows caused by the Great Recession. Yet the greater demand largely failed to bring more properties onto the market. The number of listings on the market in January fell 2.2 percent from a year ago, the Realtors said in a report last week.

Offsetting some of the price pressures are mortgage rates near historic lows. Mortgage buyer Freddie Mac said the average rate on a 30-year, fixed-rate mortgage was 3.62 percent last week, below its 3.80 percent mark a year ago.

 

Tags: , , , ,

25082 Champlain Road, Laguna Hills | IN-ESCROW!

IMG_7459

Upgraded single family home just listed for sale in the community of Capistrano Highlands in Laguna Hills. Monday Scott Bingham of Beach Cities Real Estate has put IN-ESCROW this detached single family home where he represents the sellers in this transaction. The home was on the market for only 12 days before accepting an offer and opening escrow! The property is a 4 bedroom, 2 bath, 2 car garage, 2500 SQFT home for only $714,900! The home has plenty of upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The home is located on a quiet street with easy access to the 5 & 405 freeways and a short drive to the business centers of Irvine. Costeau and MacKenzie parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! For more information on the homes for sale in Laguna Hills please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 25082 Champlain Road, Laguna Hills.

IMG_7468

Tags: , , ,

25082 Champlain Road, Laguna Hills | JUST LISTED $714,900!

IMG_7459Upgraded single family home just listed for sale in the community of Capistrano Highlands in Laguna Hills. Wednesday Scott Bingham of Beach Cities Real Estate has JUST LISTED a detached single family residence where he represents the sellers in this transaction. The property is a 4 bedroom, 2 bath, 2 car garage, 2500 SQFT home for only $714,900! The home has plenty of upgrades including an open floorplan, remodeled granite kitchen/new cabinets, wine fridge and breakfast bar. The home also features fresh paint throughout, upgraded bathroom, crown molding, double pained windows, a new AC unit, new water heater, newer carpet, mature fruit trees, large backyard which can easily accommodate a pool, and RV parking/access. The home is located on a quiet street with easy access to the 5 & 405 freeways and a short drive to the business centers of Irvine. Costeau and MacKenzie parks are both in walking distance and include tennis courts, a playground, and lots of open space to run around. No HOA or Mello Roos! For more information on the homes for sale in Laguna Hills please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 25082 Champlain Road, Laguna Hills.

IMG_7468

Tags: , , , ,