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market report: Best April for Orange County homebuying in 3 years - 05/18/10 07:03 PM
DataQuick’s homebuying stats for April are out, and they show a real estate market still on the mend with sales of all residences of 2,669 — that’s up 11.60% in a year and the best April in 3 years. Median selling price was $430,000 — up 13.2% in a year. Also …
Slice Price Yr. ago Sales Yr. ago Houses $505,000 +17.4% 1,704 +9.7% Condos $299,000 +16.6% 877 +18.7% New $629,500 +32.8% 88 -11.1% All O.C. $430,000 +13.2% 2,669 +11.6%
$430,000 median selling price that is still 33% below June 2007’s peak of $645,000. The most recent median is 16% … (0 comments)
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market report: The O. C. Market Report – This Market is Taxing! - 04/20/10 11:55 AM
Below is the latest Orange County Market Report from my friend Steven Thomas, the President of Altera Real Estate. Steven’s reports are cited and discussed in most of Southern California’s media, as an authoritative source of local real estate information. I have slightly altered his report to make it a bit easier to read, but the context and content remains true to Steven’s report.
“The Orange County Market Report – This Market is Taxing!
Talk to an Orange County buyer, especially a first time home buyer, and you will quickly find that the real estate market is simply crazy.
Let’s first … (0 comments)
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market report: Florida's Home Price Outlook Not So Sunny, California Fares Better - 04/02/10 01:33 PM
In its 12-month home price forecast issued Wednesday, Veros Real Estate Solutions said it had “continued bad news for Florida.” Markets in the Sunshine State claimed the top five spots on the collateral valuation company’s list of areas where prices are expected to drop the most over the next year.
The Deltona-Daytona Beach-Ormond Beach market has the farthest to fall when it comes to price depreciation. There, Veros projects prices will plunge another 10 percent between now and March 2011.
In Palm Bay-Melbourne-Titusville, the forecast is a decline of 8.9 percent. Naples-Marco Island will likely see prices drop another 8.8 percent, … (1 comments)
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market report: Florida's Home Price Outlook Not So Sunny, California Fares Better - 04/02/10 12:54 PM
In its 12-month home price forecast issued Wednesday, Veros Real Estate Solutions said it had “continued bad news for Florida.” Markets in the Sunshine State claimed the top five spots on the collateral valuation company’s list of areas where prices are expected to drop the most over the next year.
The Deltona-Daytona Beach-Ormond Beach market has the farthest to fall when it comes to price depreciation. There, Veros projects prices will plunge another 10 percent between now and March 2011.
In Palm Bay-Melbourne-Titusville, the forecast is a decline of 8.9 percent. Naples-Marco Island will likely see prices drop another 8.8 percent, … (0 comments)
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market report: Florida's Home Price Outlook Not So Sunny, California Fares Better - 04/02/10 12:53 PM
In its 12-month home price forecast issued Wednesday, Veros Real Estate Solutions said it had “continued bad news for Florida.” Markets in the Sunshine State claimed the top five spots on the collateral valuation company’s list of areas where prices are expected to drop the most over the next year.
The Deltona-Daytona Beach-Ormond Beach market has the farthest to fall when it comes to price depreciation. There, Veros projects prices will plunge another 10 percent between now and March 2011.
In Palm Bay-Melbourne-Titusville, the forecast is a decline of 8.9 percent. Naples-Marco Island will likely see prices drop another 8.8 percent, … (0 comments)
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market report: Orange County Market Report – Demand Springs Forward. - 03/24/10 04:01 PM
Orange County Market Report – Demand Springs Forward.
Here is the latest market report from my friend Steven Thomas, of Altera Real Estate:
Orange County is taking “Spring Forward” to a whole new level with an increase in demand for the first time in six weeks.
Demand, the number of new pending sales over the prior month, increased by 216 homes over the prior two weeks and now totals 3,270, the highest level thus far in 2010. Demand is 600 pending sales stronger than last year at this time and 1,187 stronger than two years ago. After looking at developing … (0 comments)
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market report: What's Ahead For Mortgage Rates This Week : March 1, 2010 - 03/01/10 03:43 PM
Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat.
Mortgage rates are now at their lowest levels since early-February.
Last week was heavy on negative data:
Consumer Confidence posted 16% short of expectations New Home Sales posted 13% short of expectations Initial Jobless Claims were higher than expected In addition, both the Case-Shiller and Home Price Indices showed a slight pullback in the housing sector.
The impact of these statistics was muted, however. This is because Fed … (0 comments)
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market report: No wonder I’m optimistic and feel good about the market in my area - 02/28/10 10:30 PM
This, from Jon Lansner, in today’s Orange County Register:
For the 22 business days ending February 5 – freshest numbers from DataQuick — our region-by-region analysis of homebuying shows Orange County slices up geographically speaking this way …
* DataQuick identified 570 homes selling in Orange County’s north-inland ZIP codes in this most recent period, +12% from a year ago. Median selling price? $450,000 in these 23 ZIPs. This most recent median price change was +8.4% vs. a year ago.
* Mid-county ZIPs — median selling price $352,500 – had 630 sales, -12% from a year ago. In these 24 ZIPs, … (3 comments)
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market report: December 2009 Case-Shiller Data Shows Battered Markets In Bona Fide Recovery - 02/24/10 04:21 PM
Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday. The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3. According to Case-Shiller representatives, the housing market is "in better shape than it was this time last year", but some of the summer's momentum has been lost. 15 of 20 tracked markets declined in value between November and December 2009. Meanwhile, it's interesting to note the 5 markets that didn't decline -- Detroit, Los Angeles/Orange County, Las Vegas, Phoenix and San Diego. Each of … (0 comments)
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market report: What's Ahead For Mortgage Rates This Week : February 8, 2010 - 02/08/10 11:42 AM
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn't be. It underscores just how important global events can be to U.S. mortgage markets. For example, corporate earnings continue to improve and key elements of the economy are strengthening. Even the Federal Reserve acknowledges this. In most circumstances, that would be a boon for the stock markets and bond markets would suffer, including … (0 comments)
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market report: Upon Closer Inspection, The Federal Reserve Isn't 100% Positive About The Future Of The Economy - 01/07/10 12:25 AM
Both mortgage rates and home affordability took a turn for the better Wednesday after the Federal Reserve released its December 15-16, 2009 meeting minutes.
The Fed Minutes is a follow-up piece to the post-FOMC meeting press release. But whereas the press release is succinct and to-the-point, the minutes are lengthy and often meandering.
As a comparison, December's press release contained 535 words. December's minutes had 6,260.
But these "extra words" aren't superfluous. They're actually very important to homeowners. Because the Federal Reserve's internal debates help to shape Wall Street expectations, it doesn't take much for those conversations to have a trickle-down effect … (0 comments)
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market report: Looking At The 2010 Predictions For Housing Markets And Mortgage Rates - 01/05/10 12:01 PM
2010 is just a few days old and already the "experts" are making predictions for the year.
Housing calls and mortgage rate predictions run the gamut:
Home prices will fall in 2010 Home prices will rise in 2010 Mortgage rates will rise in 2010 Mortgage rates will rise by a lot in 2010 Given how varied their outlooks, it's clear that the professionals have no better view of the future than the amateurs. An expert can make an educated guess, but it's a guess nonetheless.
Last year, Wall Streeters predicted a 25% pullback in home prices. 12 months later, we know … (2 comments)
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market report: What can we expect in 2010, in Orange County, CA? - 01/01/10 02:45 PM
The following is the second part of Steven Thomas’ end of year real estate market report for Orange County, California. Steven is a highly respected source of O. C. data, frequently cited in much of Southern California media, both television and newspapers. He has been producing this twice monthly report for 5 years now, and has refined it into a concise and extremely informative synopsis of recent data, along with unusually accurate predictions of what looms on the foreseeable future. His education, in addition to being a third generation member of an O. C. real estate family, includes a degree in … (1 comments)
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market report: The latest real estate Market Report for Orange County, CA. - 12/31/09 01:19 PM
The following is a first part of Steven Thomas’ end of year real estate market report for Orange County. Steven is a highly respected source of O. C. data, frequently cited in much of Southern California media, both television and newspapers. He has been producing this twice monthly report for 5 years now, and has refined it into a concise and extremely informative synopsis of recent data, along with unusually accurate predictions of what looms on the foreseeable future. His education, in addition to being a third generation member of an O. C. real estate family, includes a degree in Quantum … (0 comments)
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market report: Late 2009 South Orange County Housing Update - 11/28/09 04:26 PM
Hello again – I hope your Thanksgiving Day ( And Black Friday.) went beautifully!
In our local housing market, the number of available houses is now the lowest in at least a few years. In Coto de Caza, for example, it went from a previous low of 131 houses, back in mid January, to hovering around 150 in the Spring, but has since steadily declined, to now being less than 115.
Correspondingly, the number of houses in escrow has followed a slightly different path over that time, from a low of 9 in January, up to a high in mid-summer … (0 comments)
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market report: Orange County Housing Report: Short Sales are a Nightmare - 11/18/09 11:13 AM
Here is the latest Orange County, California, Housing Report from my friend Steven Thomas, the President of Altera Real Estate.
Monday, November 16, 2009
Have you ever pedaled up a steep hill on your bicycle as a kid only to wonder if you were going to ever make it? That's the same feeling that some buyers, sellers and agents get in trying to arrive at a successful close date. Short sales are homes where the asking price is less than the outstanding loan amounts. These are subject to the lender's approval. This approval takes anywhere from weeks to months.
There is … (2 comments)
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market report: What's Ahead For Mortgage Rates This Week : November 2, 2009 - 11/02/09 01:09 PM
Mortgage markets improved last week after a series of hugely volatile trading sessions.
Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent.
It was the first time in 5 weeks that mortgage rates fell.
Volatility like that of last week is nothing new on Wall Street; it's been a running theme in 2009. Volatility occurs when markets don't agree on what's next for the economy and, this year, there's been a lot of disagreement like that.
Data has been inconsistent. Take last week for example.
At 9:00 AM Tuesday morning, … (0 comments)
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market report: Orange County Housing Report: Two Polar Opposite Markets - 10/18/09 10:37 AM
Here is the latest Orange County, California Housing Report from my friend Steven Thomas, the President of Altera Real Estate. Steven's report is the most comprehensive study of our local real estate market, and is an extremely up to date depiction of the market as it is today. Enjoy.
Orange County Housing Report: Two Polar Opposite Markets
With Halloween fast approaching, the differences between the lower end and higher end Orange County housing market are SPOOKY. It is extremely ironic that the general public expects a really soft real estate market with a lot of inventory and that buyers get … (0 comments)
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market report: Using The Case-Shiller Index To Predict The End Of The Recession - 07/29/09 06:37 AM
For May, the Case-Shiller Index showed home values up in 15 of its 20 tracked U.S. markets. It's the first time in nearly 3 years that the index showed such strength and a signal that home prices may be turning higher for good.
According to a Case-Shiller Index spokesperson, "this could be a signal that home price declines are finally stabilizing."
However, just because the Case-Shiller Index indicates home values are stabilizing, doesn't necessarily make it true. Real estate is a local phenomenon and the Case-Shiller Index tracks just 20 U.S. cities.
Residents of every other town are unaccounted for.
Additionally, … (0 comments)
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market report: Orange County Housing Report: Demand Suddenly Surges - 04/10/09 11:32 AM
Hello again, Once again I am pleased to present the semimonthly Market Report for Orange County, California real estate, as prepared by my friend Steven Thomas, of Altera Real Estate.
Steven has a degree in Quantum Economics, and is cited regularly as an exceptional source for local real estate data by numerous forms of media in Southern California. Here is the link to his latest report:
https://ochousing.blogspot.com/2009/04/orange-county-housing-report-demand.html
And here are two related articles from two well respected columnists from the Orange County Register, with their perspectives, on his report:
https://mortgage.freedomblogging.com/2009/04/06/oc-foreclosure-market-is-hot/8705/
https://lansner.freedomblogging.com/2009/04/06/oc-for-sale-housing-at-3-year-low/18549/
I found it interesting to compare the different perspectives. If you … (0 comments)
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Bob Phillips, CDPE, SFR South Orange Co., CA
Coto de Caza,
CA
More about me…
Realty ONE Group
Address: 25910 Acero, #100, Mission Viejo, CA, 92691
Office Phone: (949) 643-2100
Cell Phone: (949) 887-5305
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