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: , , , ,

Ladera Ranch Homes for Sale

Ladera Ranch is one of Orange County’s best kept secrets. Ladera Ranch was made popular by the reality TV show The Real Housewives of Orange County and is the premier master planned community in south Orange County near the coast. Known for it’s exceptional amenities, award winning schools, and strong community sentiment. Amenities include various clubhouses, a private water park and skate park, 18 community parks, a dog park, 4 large community pools, six “plunges” (smaller neighborhood pools not connected to a clubhouse), many “pocket parks”/ green belts, shopping districts, and miles of hiking trails.

Covenant Hills is the gated community of Ladera Ranch. Covenant Hills is known for it’s sprawling estate homes that can range up to 8,900 square feet with home prices between $1,200,000 to $5,000,000.

Here is access to all the homes currently for sale in Ladera Ranch: Ladera Ranch Homes for Sale.

Tags: , ,

93 Livingston Place, Ladera Ranch | IN-ESCROW!

Rare 4 bedroom Westcott single family home just listed for sale in the community of Ladera Ranch. Monday Scott Bingham of Beach Cities Real Estate has put IN-ESCROW this detached single family home where he represents the seller in this transaction. The home was on the market for only 3 days before opening escrow! The property is a 4 bedroom, 2 ½ bath, 2 car garage, 2067 SQFT home for only $749,000! The home has the largest floorplan found in the Westcott neighborhood! The home is well upgraded with granite counter tops, stainless steel appliances, hardwood floors, crown molding, and plantation shutters throughout. The home is located on a quiet cul-de-sac street and is a short walk to the nearby shopping center. 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! For more information on the homes for sale in Ladera Ranch please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 93 Livingston Place, Ladera Ranch.

Tags: , , , ,

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

Rare 4 bedroom Westcott single family home just listed for sale in the community of Ladera Ranch. 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 ½ bath, 2 car garage, 2067 SQFT home for only $749,000! The home has the largest floorplan found in the Westcott neighborhood! The home is well upgraded with granite counter tops, stainless steel appliances, hardwood floors, crown molding, and plantation shutters throughout. The home is located on a quiet cul-de-sac street and is a short walk to the nearby shopping center. 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! For more information on the homes for sale in Ladera Ranch please contact Scott at 949-412-3515.

Want to see additional information and pictures of the home? Click this link: 93 Livingston Place, Ladera Ranch.

Tags: , , ,

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: , , , ,

  • Page 1 of 2
  • 1
  • 2
  • >