orange county homes: Was 2012 the Year of the Equity Sale Come Back for Orange County Homes?
- 01/17/13 02:42 PM
Was 2012 the Year of the Equity Sale Come Back for Orange County Homes? What did we see in 2012 in the Orange County real estate market? In 2012, we saw an almost 20% increase in the number of homes sold in Orange County over 2011. Still, this is only part of the story. The makeup of these homes is what should be the headline. Nearly 25% fewer homes were foreclosed on than in 2011 despite the increase in the number of homes sold. This is a huge change, and beneficial to both the owner of the home and … (2 comments)
When you look at the above numbers, at a first glance the numbers look at little bleak. Comparing October 2010 numbers to October 2011 sales shows that 1/3 as many homes sold in October 2011 with a median price drop of 7%. However, if you look at the entire year, it appears that the number of sales are only down approximately 24% with median values down less than 4%. Which numbers paint a more accurate picture? Time will tell. One thing to remember is that real estate is local, and even looking … (0 comments)
It's probably no surprise to most that Orange County home prices had a huge decline in the last few years. At one point, the median fell almost 35% from the high in 2006 of over $627,000 to approximately $415,000 in 2009. Along with the decline, came a steep rise in the number of distressed sales in Orange County. We have broken down distressed sales in to three distinct categories - REOs/foreclosure/bank owned homes - also known as real estate owned Short sales - which includes those that are listed as short sales and homes that … (6 comments)
There are so many things that we take for granted about selling real estate, that I think sometimes as agents, we forget that buyers and sellers don't always know those things that professionals consider to be obvious.
I met with a buyer recently who is coming from Europe. He wants to buy and Orange County home, and wanted to understand how buying a home works here. It is my limited understanding that in many places in Europe, an agent only shows buyers their own listings. … (3 comments)
orange county homes: Buying an Orange County Home? Stop and Think before You plan to Change Your Credit Scores!!!!!
- 08/25/10 06:39 PM
It is harder to qualify today for a mortgage loan for your Orange County home than it was just a few years ago, and credit is an important part of qualifying. Many people don't understand the pieces that make up their credit score nor do they understand that certain things they think are good, like paying off credit card debt can have a negative effect on credit. Larry has done a great job in his post below in explaining credit scores.
Credit is one of THE MOST IMPORTANT ISSUES IN getting a loan today. Time and time again, I'm called … (0 comments)
Ask any real estate professional what the top problem is in getting a purchase closed today, and most of them will tell you it's financing. Gone are the days of easy qualifying and easy financing with no need to prove your income or your assets. I've been around mortgage financing for over 30 years as it's the family business, and I've seen a few things that are likely to kill a deal even for a well-qualified buyer. These are things that buyers should know … (9 comments)
Have you ever wondered why Orange County homes are so expensive? Have you ever heard the old adage about real estate that the most important thing is location, location, location? This has never been more true than in Orange County.
At a time when the comments on Facebook are that my niece is a popsicle and my friends are complaining about ice storms, I picked up an ice coffee and sat on the beach in 67 degree weather in the middle of January watching the surfers catching waves and communing … (13 comments)
As real estate professionals, there are so many things we take for granted. Recently, a client said to me, "I signed my loan documents. Can I have my keys now?"
And, I realized that it's important that the buyer and the seller understand all of the steps in the final closing process for buying an Orange County home. The basic steps of buying a home: Buyer searches for the right home. Buyer makes an offer for the home. Seller accepts the … (2 comments)
According the Orange County Register, the number of homes sold has increased in the past year.
This would come as no surprise to many of my buyers who have had to make several offers, sometimes over listing price to compete in a market of few homes in certain price ranges.
In a time when some are heard to shout that it's a buyers' market, you may wonder how this can be. It's basic supply and demand. In Costa Mesa, there is just over 2.5 months of inventory (meaning … (2 comments)
orange county homes: Facing Foreclosure on Your Orange County, CA Home? Trying to Figure Out What You Should Do? Come to a Free Seminar Tomorrow Night to Learn
- 08/30/09 04:57 PM
Do you owe more on your Orange County, CA home than it's worth? If you do, you're not alone. 21% of homeowners in Orange County owed more on their homes than it was worth at the end of 2008. 13% of mortgage are in default. The median home price in Orange County was down 38% as of December 2008. Are you one of these people? Do you wonder whether President Obama's Home Affordable plan might apply to you? Do you want to refinance but can't because you're upside down in your Orange County home? Do you want to know what a … (0 comments)
orange county homes: Single Family Home versus Condo - Which One is Right for You?
- 07/25/09 05:17 PM
Single Family Home versus Condo - Which One is Right for You? Single Family Pros: You can make more changes to the property than you can in a condo. - You may be able to add on or change the exterior of the house, which you typically can't with a condo. You're in charge, other than city zoning laws and restrictions (or homeowner's association restrictions, if there is one - which there usually isn't in many older Orange County neighborhoods). No shared, common wall with your neighbor. Larger yard.
… (4 comments)
orange county homes: Lovely Orange County Short Sale with Canyon Views
- 01/10/09 03:09 PM
Please review this article if You Need a Short Sale for Your Orange County House. *************************************************************************** About the author: Christine Donovan is a California Residential Real Estate Broker as well as an attorney with experience in assisting clients buy and sell residential real estate. Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options. For more information, please visit Costa Mesa real estate. For more information on Costa Mesa homes or the value of a particular home please visit … (4 comments)
orange county homes: Orange County Real Estate Inventory = 6.9 Months to Sell All
- 12/01/08 05:34 PM
According to the California Association of Realtors (CAR), it would take 6.9 months to sell all homes currently for sale in Orange County if the current rate of sales continues. This is a huge decrease from the 17 months of inventory that existed last year. Though the number of homes that have sold have increase dramatically, according to CAR, the median price of an OC home decreased by 28.6% to $490,360.
*************************************************************************** About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate. Are you upside down in your … (4 comments)
orange county homes: 9% of All Mortgages Are Delinquent or in Default - Mortgage Free Fall? Where Will It Stop?
- 09/07/08 11:43 AM
According to the latest numbers from Mortgage Bankers' Association, 9% of all Americans with a home mortgage are either in delinquent or in default on their mortgages. The effect is being felt in record number of foreclosures and also in bank failures, and now the U.S. Government is planning on taking over Fannie Mae and Freddie Mac. Fannie and Freddie are government sponsored entities which, between the two of them, own or guarantee nearly one-half of the approximately $12 trillion in mortgages in the U.S. In July 2008, Orange County ranked 35 of the 56 counties in California in terms of foreclosures with 2206 notice of … (0 comments)
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Christine Donovan
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Author Bio: Christine Donovan is a real estate broker and attorney. She is a lifetime local resident of Orange County, and the head of the DonovanBlatt Team which specializes in real estate sales and purchases in the Orange County area with a focus on Costa Mesa, Newport Beach and Huntington Beach.
Was 2012 the Year of the Equity Sale Come Back for Orange County Homes? What did we see in 2012 in the Orange County real estate market? 
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