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.

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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.

 

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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.

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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.

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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.

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Laguna Beach Homes for Sale

Laguna Beach is a seaside resort city and artist community located along the southern California coast of Orange County. Laguna Beach is well known due to the MTV hit show which is also named Laguna Beach. The show highlighted teenagers living in the famious Orange County coastal city. Laguna Beach is also known for being a city that holds the Pageant of the Masters each summer to celebrate it’s art tradition. The city is characterized with beautiful beaches and cliffs which showcase unbelievable ocean views. Laguna Beach is also known to have some of the most expensive real estate in Orange County. There are 4 areas in Laguna Beach which are named Laguna Canyon, Laguna Village, North Laguna, and South Laguna.

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

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San Juan Capistrano Homes for Sale

San Juan Capistrano is one of the most historic cities of south Orange County. The city is well known for it’s historic landmark the Mission of San Juan Capistrano. San Juan Capistrano has a little of everything when it comes to real estate. There are condos for sale as cheap as $150,000 and large custom estates for sale that ranging into the multi-million dollar range. There are gated communities, equestrian communities, and even an area of south San Juan Capistrano with ocean and harbor views. San Juan Capistrano is a great option for buyers looking to be ocean close but still want a warmer climate. There are 5 areas in San Juan Capistrano named Del Obispo, Mission Area, Ortega, San Juan North, and San Juan South.

There is a new home development in eastern San Juan Capistrano named Rancho Mission Viejo. The development will consist of 9 separate villages including a gated senior community named ‘Gavilan’. There will be approximately 14,000 new homes on 23,000 acres. The first phase of construction is scheduled to be completed by summer 2013.

Here is access to all the homes currently for sale in San Juan Capistrano: San Juan Capistrano Homes for Sale.

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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.

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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.

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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.

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