The Right Time to Sell

Orange County, CA’s Flagship Community Newport Beach Current Real Estate Market

Friday, September 14th, 2012

Given the Newport Beach area, including Corona del Mar and Newport Coast in Orange County, CA tend to cost over $1 Million, my initial thought based on what I’ve seen in other communities is that this community probably is not seeing that much of an uptick yet. Upon further study of the MLS I found the following:

Realtors report lots of lookers at open houses and lots of transactions did stem from those buyers. Brokers are saying days on market are down and inventory is down lending toward multiple offers on homes like in most areas of Orange County, CA. I was particularly struck by homes between $2-3 Million. There are only 102 currently Active homes. Of those 35 have reduced their price, only 4 have raised them. The good news is 43 homes are at their originally listed price. Of the four homes that have raised their price, 3 are in Newport Coast and only 1 is a short-sale.

The largest amount of inventory in the Newport Beach, CA area is priced between $1 – 2 Million. There are 166 available ‘Active’ homes. So far, 62 of those have reduced their price, 7 have raised their price and 97 homes are holding steady at their listed price.

The lowest price point in Newport Beach, Corona del Mar and Newport Coast, California in Orange County, CA has only 104 available ‘Active’ properties. In this price point, the area around the Bluff’s is the best performer. At this price point, Corona del Mar has had 5 of 9 listings reduced, but in the higher price point, Corona del Mar performs well.

For homes exceeding $3 Million in Newport Beach, Corona del Mar and Newport Coast in Orange County, CA, there are 154 available ‘Active’ properties. Surprisingly, I found of those 3 had raised their price and only 48 had lowered their price during the listing so far. Also, there are only 3 distressed sales at this price point! Not just that, but the days on market average only 159 days! There are only a handful of homes that are kicking this number up significantly. Without those, the number would be far less.

I have two observations that way in my decision as to whether the pricing is really going up in this area. One, I typically look at the number of price increases while listed and I’m seeing very few of these at all price points and in almost all areas. Two, I look for the number of those in ‘Back Up’ or ‘Pending’ to have fewer homes with reduced prices, and I’m not seeing that over the last 90 day period. I typically look heavily at the past 30 days. Since the last 30 days were mostly during August/September, I would expect not to see much difference because those months are typically the slowest months of the year due to kids going back to school and the end of summer vacations.

I have many more numbers to substantiate what I’ve reported here, so if you would like to discuss further, do not hesitate to contact me through this site, or my website by clicking here.

Feel free to sign up below to receive further Orange County, CA community Real Estate market analyses and more about the Newport Beach, Corona del Mar and Newport Coast, CA areas.

Tags: Buy a home in Orange County CA, Buying a home in Orange County CA, Can I afford a home in Newport Beach CA, Current housing market in Newport Beach CA, Is this the time to invest in Orange County CA, Real Estate in Corona del Mar CA, Real Estate in Newport Beach CA, Real estate in Newport Coast CA, Timing the Market in Orange County CA
Posted in Buy a House, Community, Condos, Estate, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Neighborhood, Property, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Selling a Short Sale, The Right Time to Buy, The Right Time to Sell | No Comments »

Orange County, CA’s Golf Community Coto de Caza, CA Current Housing Market

Friday, September 14th, 2012

True to form, only 1/3rd of the 77 homes currently ‘Active’ on the Real Estate market in Coto de Caza, California are under $1 Million. This exclusive guard-gated, golf course community is one of the charms in Orange County, California. Maybe the fact that the majority of Coto’s homes are over $1 Million indicates why the tract is slow to pick up steam in the current market where other communities are beginning to take off with prices under $1 Million.

It’s amazing, but true, that I just finally closed on a short-sale in Coto, though in a sub-tract that was not performing well, at a price of $661,000 that resembled a mini-estate! They had a full-on view of the golf course from all rooms in the back and a pick-a-boo view in front of the mountains and another hold of the golf course. It was a premium location at the end of a cul-de-sac with a pebble-tec pool and spa, a serene courtyard between the home and casita plus, an unbelievable nearly 3500 s.f. The home finally closed after 10 months and I was successful in securing 3 different buyers. In fact, it was barely on the market in between those buyers as offers were coming in so quickly. Granted there were some other expenses that needed to be covered by the Buyer, but with approximately 18 good offers, it wasn’t difficult to find someone willing to pay those fees. It seemed like almost half of those offers were all cash. In fact, it made me wonder how non all cash buyers could successfully purchase a home these days in Coto de Caza, California. (Note: that subject was addressed in a previous Blog entry.)

A review of the MLS for Coto de Caza, CA indicates out of the 24 homes under $1 Million, 9 have had a price reduction while listed as ‘Active.’ Of the remaining 53 listings over $1 Million, a whopping 33 have had a price reduction. A study of the MLS in most areas over $1 Million is similar. This indicates that the market is not yet picking up for million dollar homes, but I have seen other areas of Orange County performing much better than Coto de Caza on homes under $1 Million. My own experience had been that the market for homes selling under $700,000 are much improved, and I was pleasantly surprised to see in several communities that this improvement goes well into the $900,000 range; but sadly thus far, this is not happening in Coto. On the recently closed list, though, there were two sales where prices had been increased, so it may not be much longer before Coto is right there with all other communities.

There is a bit of good news. Of the 77 Active listings, 68 are Standard Sales, so only 9 distressed homes currently on the ‘Active’ Coto de Caza market. I think I sign of a glimmer of home might be in the list of ‘Back Up’ and ‘Pending’ listings. Out of a total of 68 only 24 were standard sales so this demonstrates a huge improvement.

In the last 3 months in Coto de Caza, CA there have been 85 closed sales but, 55 of those are under $1 Million. Even if I go back to just one month ago, unfortunately the time on the market, even just for standard sales it’s still taking a long time to close transactions, averaging nearly 200 days and every single listing price had been reduced but one and that was raised.

Unfortunately, for homeowners it seems that Coto de Caza is still a ways away from turning their market around and it’s still an excellent place to buy! Buyers will love the amenities!! Plus, it offers low Mello Roos fees.

For more information about Coto de Caza or Orange County, California don’t hesitate to contact me through this site or visit my website by clicking here.

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Tags: Are there still good investments in Orange County CA, Buy a home in Coto de Caza CA, Buying a home in Orange County CA, Current Housing Market in Coto de Caza CA, Investing in Orange County CA, Prices stabilizing in Orange County CA, What's the real estate market doing in Coto de Caza
Posted in Buy a House, Community, Estate, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, The Right Time to Buy, The Right Time to Sell | 2 Comments »

Orange County, CA Aliso Viejo Community Prices Moving Up!

Thursday, September 13th, 2012

Holly Cow! There are only 60 listings available in Aliso Viejo, California, a smaller community of mostly newer homes in Orange County, California.

It seemed as though Aliso Viejo, CA’s housing market has been coming back faster and sooner than most other Orange County, CA communities. But, right now, as far as ‘Active’ listings go, there are only 5 homes out of the 60 currently listed (both condos and single family residences at all price points) whose prices have increased while actively on the market. Is this because their homes have been going up for a while, so the listing prices were already increased? A review of the the homes in ‘Back Up,’ ‘Pending’ and recent ‘Solds’ might tell the story…

Of the 139 properties in ‘Back up’ 17 had their prices increased; however, 14 of the 17 are short-sales. Maybe a more tell-tale sign is there are only 14 distressed listings out of the 60 ‘Active’ Listings and 99 of the 139 ‘Back Up’ Listings are distressed sales. Not only does this speak volumes, but so does the fact that of the 40 non-distressed listings in ‘Back Up’ half have been on the market under 30 days!

Of the 16 ‘Pending’ sales in Aliso Viejo, California, none have had a price increase or decrease but only 4 have been on the market longer than 34 days!

Going back only 3 months and only ‘standard sales,’ there have been 126 properties closed in Aliso Viejo, California. A phenomenal 51 homes out of the 126 sales sold above asking; and often Realtors will re-list the home for the higher price so not to show that it sold for over the asking price so there could well have been more! On the other hand, 56 of those same 126 closed sales had reduced their price while listed. When bringing back in all closed sales during this same three month period, there were a total of 268 closings, so a huge number of 142 distressed sales finally closed over this past three month period. And, just an aside, out of the 142 distressed sales 47 raised their price while listed. Unfortunately, though, that’s usually a sign of the listing agents under-pricing short-sales on purpose and the selling bank required a higher sales price. On the other hand, it might also indicate that prices went up so quickly while they were listed that multiple offers kicked up the price.

And, just so you know, there are only 27 detached homes out of the 60 ‘Active’ listings in Aliso Viejo, California.

WOW! All in all, Aliso Viejo is still a wonderful Orange County, California community to live in. Most of the homes are newer and the schools are highly considered. In fact, some areas of Aliso Viejo, California attend Laguna Beach schools. There’s hardly anywhere else you can live and attend Laguna Beach schools at these prices!

Overall, there are still good deals to be had in Aliso Viejo with all those distressed sales still available; however, they’re becoming fewer and farther between and prices are definitely rising in Aliso Viejo, California.

For more questions about Aliso Viejo and Orange County, California be sure to contact me through this site or visit my website by clicking here.

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Tags: Affordable community in Orange County CA, Benefits of buying in Aliso Viejo CA, Buy a home in Aliso Viejo CA, Current housing market in Aliso Viejo CA, investing in Aliso Viejo CA, Orange County CA real estate, Real Estate in Aliso Viejo CA
Posted in Being Foreclosed On, Builders, Buy a House, Community, Condos, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, MLS, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Selling a Short Sale, The Right Time to Buy, The Right Time to Sell | 1 Comment »

Irvine, CA, A Community of Orange County, CA Current Real Estate Market

Wednesday, September 12th, 2012

Can you believe it? Inventory is way down and so are distressed sales in Irvine, CA! Following is a breakdown by individual tracts/subdivisions.

I’ve been watching the MLS for a specific sign to tell when the market/pricing is really moving up. For me, that is when the prices start going up while they are still listed as ‘Active’ and if they are going up, whether they are short-sales or not. In a quick look at what is happening with Real Estate in Irvine, CA, there are only 266 “Active” properties up to $1 million!

The first thing evident was in the Airport Area with 22 ‘Active’ listings. New Condos that were completed in 2011 have just been placed on the market 1-2 days ago priced in the upper $700-900,000 and the price of another new listing already ‘Active’ was raised. There are 4 properties in the $300-500,000 range that all have dropped their price and only 1 of those is a short-sale. There is one condo priced at $999,000 that is a standard sale and it was reduced. That makes 15 homes with prices in this area that are holding steady.

Oh, another ‘Active’ just went into escrow. Now there are only 265 ‘Active’ properties.

There are only 2 ‘Active’ listings in Columbus Grove,Irvine, CA. Their prices are unchanged having only been on the market 7 and 9 days. On a quick glance I cannot identify whether the prices are higher or lower than the previous sales of those models.

In the El Camino, Irvine, CA area, there are 11 ‘Active’ listings. Two in the $300,000 range have raised their price and both are standard sales. There are no price reductions so for 9 listings the listing price has held.

In Laguna Altera, Irvine, CA there are 5 listings. The price on two have held and three have been raised. This probably indicates the newest of the new homes, all built in 2012, are raising their prices!

Regarding Northpark and Northpark Square, Irvine, CA on the face of things, it does not appear to be performing as well as a whole. When separating out Northpark from Northpark Square I found 8 properties in each area and it’s a bit of a mixed bag. In Northpark of the 8, three have reduced their price. In Northpark Square, four are down and one is up. Only 3 are distressed sales.

One home was added and three just went into escrow! Now there are 263 ‘Active’ Listings.

Wow! There are 40 ‘Active’ listings in Northwood, Irvine, CA! Three have gone up in price while listed and none of those are distressed. Fifteen have had price reductions, at least one that was listed almost 50% too high to begin with. Considering the great schools in Northwood, that’s a nasty reality. Is it the age of the homes? Are they not updated enough?

Now there are only 262 ‘Active’ Listings… they’re dropping like flies!!

Oak Creek, Irvine, CA has 8 ‘Active’ listings and only 1 has gone up in price. Four have reduced their prices and none are short-sales.

Orange Tree, Irvine, CA have only 5 listings and all are holding on their price. These are priced $300-450 and their days on market are all under 19 days. Three are 1 day on market! That’s a hot commodity, and these prices are higher than previous sales though not raised while on the market.

There are 19 ‘Active’ listings in Portola Springs, Irvine, CA. Though a newer area, it’s proximity in Irvine sometimes hampers sales as is evident in the following numbers: 3 home listing prices have been raised and 10 have been lowered. This is probably the highest price lowering rate we’ve seen, especially among newer homes. Two of those with pricing up are brand new homes and the 3rd is a short-sale. Surprisingly, there are only 2 distressed sales. Is this the end of short-sales… finally? One can only hope!

There are 6 properties in Quail Hill, Irvine, CA. One has lowered their price and all but one are standard sales.

There are 5 in San Joaquin, Irvine, CA and 3 have lowered their price. One is a short-sale.

Stonegate, Irvine, CA has only 1 home listed and the price was reduced to $849,900. This goes against the trend.

In Turtle Rock, Irvine, CA there are 21 homes available. Would you believe it, 15 have had price reductions, only 1 increase and only 1 distressed sale. If you always wanted to live in Turtle Rock with excellent schools, now’s the time!

There are 5 Turtle Ridge, Irvine, CA homes, again newer homes for those of you who are unfamiliar with Irvine, CA. Only one has reduced their price and there are no distressed sales.

In University Park, Irvine, CA there are 9 listed and 3 have been reduced (some near freeway) and one of those three is distressed. Considering the age of the area, performing very well. Probably because of the high school and being a more affordable area.

Only 3 properties in University Town,Irvine, CA 2 have been reduced and none are distressed sales.

There are only 2 distressed sales in Woodbridge, Irvine, CA out of 29 ‘Active’ listings and while there are 4 homes that have had price increases, there are 12 that have been reduced. This follows the trend of the similarly aged homes in Northwood and Turtle Rock, except for the fact that there are 4 listings whose prices have gone up. Let’s see if they sale at that increased price…

Shockingly, when considering the desirable age of these homes, Woodbury, Irvine, CA is still taking it’s sweet time catching up with the market. Out of 13 ‘Active’ listings, 9 have dropped their prices.

West Irvine, Irvine, CA continues to shock me with a steady as she goes trend, even beating Oak Creek that has many of the same floor plans. Of 9 total ‘Active’ listings, only 3 have been reduced and no distressed listings.

It’s a bit inexplicable but both Walnut and Westpark, Irvine, CA have 11 and 13 ‘Active’ listings respectively. Each have 1 with an increased price and 2 with decreased prices. Westpark has 2 distressed sales and Walnut has 0.

Overall, based on this study, it would appear that there are still deals to be had in Irvine, California due to all the price reductions and not many increases.

Should you have further questions about Irvine, CA, I’d love for you to contact me. Be sure to check out my other BLOG entries and my website by clicking here. Be sure to sign up below for emails announcing future entries of other Orange County, CA community studies below.

As always, I look forward to your comments and questions… just ask.

Tags: bank owned houses in Orange County CA, Buy a home in Irvine CA, Buying a home in Orange County CA, Looking for a home in Irvine CA, Prices stabilizing in Orange County CA, Real Estate in Irvine CA, Timing the Market in Orange County CA, What's the real estate market doing in Irvine CA
Posted in Builders, Buy a House, Community, Condos, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate Agent, Relocation, Selling a Short Sale, The Right Time to Buy, The Right Time to Sell | 3 Comments »

Goal Setting when Buying a Home in Orange County, CA

Wednesday, August 22nd, 2012

Have a plan!

If you watched the Olympic swimming races, you recognize even an 100th of a second can mean the difference between winning and losing (in this case, that home you’re hoping to buy or sale). Just how long should one take to figure things out?

Today’s sales meeting was about just that. In fact, Nike and many others that propose the same thing had it right — ‘Just Do It!’ Follow your plan and let nothing hold you back. It really doesn’t matter what your goal, having a plan and continuing to move toward that goal in measured, decisive and predetermined steps will best get you what you want.

I was reviewing my facebook site today after the meeting and a couple of postings hit home for me as regards this very subject:

On many occasions Buyers will say we have to pray on it, or discuss it tonight with my loved one or a million other reasons meant just to keep them from moving forward. The best deal or your perfect home probably just went to someone else. If you don’t think we’re right back in this mode of home shopping, think again. Know exactly what you want, find a Realtor who can help you locate it; and choose quickly.

Another facebook entry:

No explanation is needed for this life lesson. It ties into Real Estate because many are ‘afraid’ to make an offer when other offers are already on the table. Do not let that hold you back. In most cases you have the same chance as anyone else if you listen to your Realtor’s suggestions on how to go about making your offer.

Also often considered is whether this is the right time to buy a home. I’ve said it before and now again: Now is Always the best time to buy; but, you can hardly beat what’s happening today: the lowest interest rates and prices already beginning to go up. In Orange County, CA when you purchase right you can again put money into your pockets.

Life Lessons

I treat everything I do as a life lesson and then I apply it to the business. I think the most beneficial suggestion I heard today was to go to sleep every night saying “Do It Now” 50 times and to wake the next morning doing exactly the same. Can you imagine a more explosive way to jump out of bed? You won’t even give NO a thought. You won’t have time to think it. All you’ll be thinking is “Just Do It!”

Choose the Right Realtor!

Several years ago, I attended a Tony Robbins seminar where Tony suggested you choose a mentor who is successful at doing something and you do it just like they do it and you’ll be equally successful. He chose someone from the audience who had absolutely no problem exercising every single morning. What became obvious to me is this person heard the alarm and didn’t even stop to think that they might not go exercise today. Their behavior was on auto-pilot. The alarm started going off and they were already tying their shoes and going out the door before the alarm stopped.

When you are ready to buy a home, you first need to become qualified and next to select a Realtor who works on auto-pilot to help you locate the best home for what you have shared with them that you want. You choose a good Realtor that you can trust and leave the rest to them. Remember, in most cases Realtors do not get paid until you close on your home. That’s a huge motivator. Don’t get me wrong, it’s not about just finding you any home. Realtors also survive on referrals. How many referrals would a Realtor get if they just put you into any home and were on to the next? That’s the second biggest motivator.

Choose a Realtor who knows their job so well that they’ll be on Auto-Pilot. They listen well and know how to make one of the toughest tasks you’ll face into one of the smoothest! I’d sure like to do this for you!!

If you like what you’ve read, visit my website by clicking here; and be sure to sign up below for pre-notice of future blog entries.

Tags: Can I afford a home in Irvine CA, Choosing a Realtor, Choosing the right realtor for Orange County CA, How to buy a home in Orange County CA, Is this the time to invest in Orange County CA, Prepare your home to Sell in Orange County CA, What's happening with real estate in Irvine CA, What's happening with real estate in Orange County CA
Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Preparing the Home to Sell, Real Estate, Real Estate Agent, Realtors, Relocation, Selling a Short Sale, The Right Time to Buy, The Right Time to Sell | No Comments »

Orange County CA Market Changing! ?

Tuesday, May 22nd, 2012

Finally a recognizable and ongoing change in the Orange County, CA housing market!

I hate to feel like, when I give you information about the market that it feels like I’m pushing you into making a decision to buy a home sooner than you’re ready, but I also feel I should keep you informed on what I’m seeing and hearing about the Orange County, CA housing market. Ultimately, it’s your choice when you’re ready to buy.

I’m hearing that because the stock market appears to be performing better that interest rates might go up. Historically, as long as I’ve been watching (about 20 years), rates tend to be higher around June 8 and Dec 8, and lower closer to April 8 and October 8. My concern, given how low they’ve been for so long, is that they’ll go up, and maybe not come back down as low as they are right now. Though, given it’s an election year, I can’t imagine any political party wanting higher interest rates; but, then again, it might show strength in the economy and give the Democrats a boost. Obviously, I have no crystal ball, but it does concern me.

I recognize that many buyers are still hoping to purchase a short-sale enabling a purchase at a more affordable price in any one particular area of choice. Just so you are aware, there are fewer and fewer short-sales, and since the standard sales are beginning to push prices up, short-sale prices will follow the upward trend. I saw numerous short-sales that closed only a few months ago priced at $579k that are currently selling for as much as $100,000 higher and there are 6 families waiting at the door to see the home. SOUND FAMILIAR?

When I moved here in ’95 and got my license in CA in ’96 there were no short-sales left. Coming from Kansas, I didn’t even know what a short-sale was… And, that downturn started in ’91. This one has already been 6 years old. I’m not claiming to know what will happen, just historical facts that it might be helpful for you to be aware of. You might wonder if this is another politically motivated false start; however, unlike previously, the Government has not put out any particular incentives to get the Orange County, CA market moving again.

A month or two ago, Aliso Viejo was lagging behind other OC communities. This past weekend showed me that it is definitely catching up! No longer are there 50% gains to be had off of the highest priced sales from ’06. When sending information yesterday to one of my buyers, I was seeing less than a gain of $200k on homes currently priced in the $600k range. Even still, should a buyer make $200,000 it’s no slouch!! Buyers — better in your pocket than the sellers!! Sellers — your time is coming!!

So, if you’ve been waiting on the fence for a sign… this may well be it! If you’d like to discuss this further or to begin your home search, call me at 949-929-6343. You can also visit my website by clicking here.

As always, I’d love your comments, and be sure to sign up below to begin to receive notices of future Blog entries.

Tags: Buy a home in Orange County CA, Buying a home in Orange County CA, How to buy a home in Orange County CA, Investing in Orange County CA, Is this the time to invest in Orange County CA, What's happening with real estate in Orange County CA
Posted in Buy a House, Community, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, MLS, Mortgages, Neighborhood, Real Estate, Real Estate Agent, The Right Time to Buy, The Right Time to Sell | 2 Comments »

Attn: Buyers and Sellers in Orange County, CA

Wednesday, January 18th, 2012

Is it too soon to evaluate the 2012 housing market? How about the economy? Signs are pointing to … up. WAIT! Don’t stop reading just because you don’t agree! Did I mention? After the holidays, keyword after, the movie lines were all the way across the parking lot. The wait to be seated at CPK for dinner was 20 minutes and that was before 6 pm!

I believe there is a willingness for people to go back out and spend again. They got a taste of it during the holidays and it didn’t stop afterward. Yes, some businesses are laying off … many are hiring. And, several are hiring in large numbers. Don’t get me wrong. It’s definitely still a mixed bag – 2 steps forward 1 step back. but that’s better than the other way around.

What does this have to do with the housing market? Lots. Unfortunately, for the consumer, what is one’s politics determines how one feels about the economy. Also, it determines one’s outlook on life.

I’ve said it before and I’m sure I’ll say it again – you must be in the middle of it to know exactly what is going on. This is the time of year in the normal ebbs and flows where real estate begins to pick up. If my readers/clients insist on reading other people’s projections, make certain who you are listening to and that they are not just saying what you want to hear because they’re matching your own belief system. In other words — know your source! Is the writer really in the field and literally out there working with Buyer’s and Seller’s all over Orange County, California? The fact is, what I’m saying won’t be the case everywhere; and this is why you need your Realtor; but, here goes:

This is what I’m already seeing this year:

Inventory is down. Check!
Buyers are out there. Check!
Interest rates are low. Check!
Pricing is down. Check!
Multiple offers abound. Check!
People are tired of waiting. Check!

Sounds to me like a comeback…

If you agree; and you’re ready to begin working toward either a sale or a purchase of Real Estate, visit my website by clicking here!

As always, I’d love your feedback; and, to receive notice of my future postings, sign up below.

Tags: Buy a home in Irvine CA, Buy a home in Orange County CA, Can I afford a home in Irvine CA, Choosing the Right Realtor in Irvine CA, Invest wisely in Orange County CA, Orange County CA current market, Selling your home in Orange County CA
Posted in Builders, Buy a House, Community, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Neighborhood, Property Investment, Real Estate, Relocation, Selling a Short Sale, The Right Time to Sell | 2 Comments »

Orange County, CA Housing Market

Tuesday, November 29th, 2011

I Want to Give You Helpful Information…

Why don’t you take me up on it?

I’ve just reviewed my Google Analytics Report to see what type of information I provide is reaching the majority of my readers. There were two articles I wrote that received the most attention from you:

1) SB458 Didn’t work the way it was intended, and

2) You can still buy a condo with only 5% down.

As a Realtor, I perceived all of my other topics to be extremely helpful information to both buyers and sellers alike; and, according to the comments received, they were found to be well written and good information. However, for whatever reason, they are not causing you to spend a lot of time on my site when compared to those two topics above. Does this indicate that the majority of the information I provide is not useful to you?

Next month, I complete 20 years of working as a Realtor. Having been in the industry all that time, I should have the ability to communicate to you just about anything you would want to know about Real Estate. And, what I don’t know, I can find out for you. The time I spend writing my Blog is significant and it should count for something. I’d certainly like to have an open dialogue about my topics, and want to hear from you about what information you would be most interested.

So that you can track how successful this request is in receiving my reader’s suggestions, or to get an answer to your own burning question(s), sign up below to receive an automatic notice of new Blog entries.

If you’re interested in allowing me to assist you with your Real Estate needs, don’t hesitate to contact me at 949-929-6343 or, click here to see how I work.

Tags: bank owned houses in Orange County CA, Buy a home in Orange County CA, Buying a Home in Irvine CA, Can I afford a home in Irvine CA, Is this the time to invest in Orange County CA, Making money in Real Estate in Orange County CA, Orange County CA current market
Posted in Being Foreclosed On, Buy a House, Community, Condos, First Time Home Buyers, Foreclosures, Homes for Sale, Housing Market, Luxury Homes, Neighborhood, Preparing the Home to Sell, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Selling a Short Sale, The Right Time to Sell, Townhomes | 1 Comment »

Orange County California Real Estate

Monday, November 21st, 2011

Are you as confused about the current housing market in Orange County, California as I am? You should be because I’m confused and I should know more about what’s going on than you do!

Here’s a bit about why I’m confused. I’m fairly up about what seems to be happening, or about to happen, but I’m always a bit more optimistic than most. I come by this naturally because even though I’ve been in Real Estate since 1992, this is the first down market I’ve been involved in as a Realtor. Because I know this about myself, I’m always checking myself by asking servers in restaurants I frequent how their business has been. They’re still disappointed but I’m seeing the bars at say, Islands full instead of being the only one there. I’m also aware that openings for employment positions are on the rise. I try not to listen to national news because it’s usually not pertinent to our market and it’s always a downer, whether accurate or not. I keep track of the inventory as reported in our weekly office meetings and I see inventory dropping; and, I listen to how other Realtors are conversing, and I make a determination by how busy they are and I am. I’m hearing and seeing that loans are getting a bit easier to come by. There are again a lot more options than just the 20% down slam dunk loan. So, even the Banks are becoming a bit more aggresive.

Believe it or not, since May, I’ve averaged twice as many transactions per month as typical, but my income matches years’ passed. That’s the cunundrum! Business is up, interest is down, sales are up but prices are still dropping and interest remains among the lowest in history. Typically, when this happens in our area, prices begin to jump up and they’re still falling … even with multiple offers.

I’ve also attempted to evaluate the type of buyers that are out there. There are beginning to be a lot more first time buyers; but it’s difficult for them to compete with the investor/cash buyers, and it’s this type of buyer that is waiting to jump until the prices become low enough for them to see a property as an investment. Also, we’ve gotten far enough removed from when many first started short-selling for those previous owners to be back in the market. An even more interesting factor is I have more listings than usual demonstrating that Sellers are again willing to test the market.

At this point, given all of the above, I’ve got to say that the market in Orange County, CA is coming back… What do you think? Be sure to send your comments. I’d love to hear from you.

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Tags: Available Mortgages in Orange County CA, Buy a home in Irvine CA, Buy a home in Orange County CA, Can I afford a home in Irvine CA, Current Orange County CA Housing Market, Investing in Orange County CA, Is this the time to invest in Orange County CA, Looking for a home in Irvine CA, Prices stabilizing in Orange County CA
Posted in Buy a House, Community, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Property, Property Investment, Relocation, The Right Time to Sell | 1 Comment »

Were Buyers and Sellers in Orange County, CA Duped? !

Friday, September 30th, 2011

Hello All,

You probably noticed I haven’t written in a while. That’s because my mind is in turmoil about the market and how the government used all of us. There’s a reason that none of us can figure out the housing market… that being whether it’s getting better or not?

All of you need to watch an HBO movie special: Too Big To Fail. Besides being an excellent movie with wonderful actors, it’s very informative. You may think you know all there is to know about what we’ve just lived through; but, trust me, you don’t. After watching this movie, you’ll most certainly be better informed.

In the movie, Paulson (William Hurt) states that he has a torpedo in his pocket and he, and I think it was Bernanke (Paul Giamatte) or Geithner (Billy Crudup), said he was going to have to use it. I believe that the torpedo was the period of time when the government was giving the buyers’ incentives of up to $8,000 when purchasing a new home. You might remember that during that time, it appeared that the market was back! The extra incentive stimulated the market, but as soon as the money ran out, so did the market; and, it hasn’t really come back since then. I’m certain that Buyers were thinking the extra money would magically reappear once the government recognized that it was still needed and because it seemingly worked so well… but to no avail.

So, over an $8,000 gimme, the Buyers all went back into hibernation… hoping that the government would see the market die down again, and come back to the rescue. Instead, the money went to the banks, litterally in hopes that the banks would lend that money to buyers supposedly making it easier to get loans, since, at the time; and still today, it was meant to loosen up the bank’s hold on their dollars. But, unfortunately, also to no avail, as the government had not put the stipulation in writing that in order for the banks to get the money, they had to agree to lend it.

At the time that the torpedo was released, unbeknown to the general public and Realtors in particular, I, as well as many others, believed at the time that the market was already coming back. SURPRISE!! Finally, for me at least, last Thursday, (eight days ago) after Bernanke performed his latest trick, the housing market DID pick up for me. The market actually felt like days gone by, and so far, it’s sticking. Maybe that trick worked? Or, maybe it’s just another torpedo ? !

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As always, I’m looking for your comments to this blog. To see more about how I work, be sure to look me up on my website by clicking here.

Tags: Buy a home in Irvine CA, Buying a home in Orange County CA, Investing in Orange County CA, Is this the time to invest in Orange County CA, Orange County CA current market, Prices stabilizing in Orange County CA, Real Estate in Irvine CA, Timing the Market in Orange County CA
Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Property Investment, Real Estate, Real Estate Agent, The Right Time to Sell | No Comments »

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