Orange County gains are holding - 10/30/09 05:53 PM

Orange County gains are holding
 Orange County home sale prices gains are holding.  Orange County's median home prices are on tract for the eight month of gains and holding.  The sales numbers that include the begining of October show more increases.  The year over year home prices show gains and they are holding.  These gains for Orange County are after 24 straight months of decreases. 
Data Quick showed a median price of $432,000 for a single family residence and condos combined.  That number is 2.9 percent shows a gain of 2.9 percent from a year ago.  If we look back … (0 comments)

House prices will jump - 10/30/09 05:39 PM

House prices will jump
First American CoreLogic predict that house prices will jumb 7.9 percent in a year.  The stated that the prices will stop falling in March of 2010 and are projected to jump up 4.6 percent by August 2010.
In California the rate of appreciation will be even higher:  Up 7.9 percent from this August.  After what I found we are already showing the house prices will and are jumping up.  If their projections are correct then we will have in Orange County and California the nation's third highest appreciation rate.
It looks favorable that the housing … (5 comments)

Buyer Confidence slides - 10/30/09 05:34 PM

Buyer Confidence slides
This was not a good sign.  Buyre confidence slides mainly because of their concern about jobs and the are also worried about cut backs. 
Stocks may be looking up, but the Americans just can't put aside their wories concerning their jobs.  Consumer Confidence fell in October.  It came in well below what analysts had expected. 
The consumers in California acording to the Conference Board, reported shoppers' sentiments were the gloomiest in 3 decades.  They buyers are considering cutting back on spending.  The main reason seem to be their feeling about their jobs.
 
… (2 comments)

Market Report for San Clemente area - 10/26/09 12:47 AM
Market Report for San Clemente area

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 6.4 percent, for new homes it is down 0.8 percent and for resale condos up 3.8 percent.  The sales volume is up for resale homes 4.9 percent and up 7.6 percent on condos and down 27.1 percent for new homes.
Mission Viejo  Zip Code 92691  sales prices are down 6.9 percent and the sales volume is up 7.1 percent. Mission Viejo  Zip Code 92692  sales prices are up 3.3 percent and the sales volume is up 53.1 percent. Aliso Viejo  sales … (0 comments)

William Lyon Homes - 10/24/09 01:00 PM
William Lyon Homes
William Lyon Homes got 206 million in fresh funding from Colony Capital and its new Colony Financial.  Colon Capital has invested more than $39 billion in more than 8,800 assets in its history. 
William Lyon Homes intends to use the proceeds to purchase debt and restructure its balance sheet.  It will also go after land acquisitions and use the remainder for general corporate purposes.  Builders have been desperate for cash it is an advantage to William Lyon Homes.
Colony has good reputation and long history of success in real estate financing and they like to partner with well … (4 comments)

New Home Sales Up - 10/24/09 12:43 AM

New Home Sales Up
New home sales are up 42 percent in the Orange County Area.  The new home sales are up and that is good new for the area.  Is this the recovery?  No one is ready to state that but it is a good sign.
The short sale and bank owned properties have been leading the way but now we have new home sales up and by a big percentage.  Not only are the number of new home sales up the prices have been inching up as well.
We do know that there has been a drop … (1 comments)

Rents Fall - 10/24/09 12:39 AM
Rents Fall
The average rents fall $80 a month in Orange County as we fall back to 2006 levels.  The oversupply of apartment units was reported by apartment tracker RealFacts. 
The average rents fall in Orange County's larger apartment complexes in the third quarter down $80 a month or 5 percent in a year.  It is the 4th month in a row that we have seen drops.
This is the biggest yearly fall in rents since 1994 according to RealFacts. 
The national average for the drop of rents in 3.7 percent while the fall in Orange County in 5 Percent.  … (2 comments)

News on Defaults - 10/22/09 04:47 PM
Default notices drop by ten percent in California now that is good news.  Mortgage defaults notices filed against homeowners dropped in the last quarter of the year.  There have been some loan modifications or work on loan modifications and short sales.  Those two actions can slow the process of foreclosure but the banks usually will still continue on and file the defaults. 
There were nearly 112,000 morgage default notices that were filed during the July to September time period.  The second quarter April through June had 125,000 mortgage defaults.  The good news is the that is a drop of 10 percent. 
… (0 comments)

IRS Tax Amnesty - 10/19/09 01:36 PM
Tax Amnesty
Tax Amnesty draws about 7500 people who owe the federal government, IRS their taxes. About 7500 tax cheats have filed for the amnesty program that promised no jail and reduced penalties for tax cheats. The tax amnesty program allows those who hid money in more than 70 different countries and on every populated continent. The report states that the amount ranges from $10,000 to $100,000,000.
The IRS has a long standing policy that they would give tax evaders, who come forward, before they are contacted by the agency, no jail time. Fewer than 100 people apply for the program … (2 comments)

Market Report for San Clemente Area - 10/19/09 01:26 PM

Market Report for San Clemente Area
This weeks market report for San Clemente and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is down 2.4 percent and for resale condos up 3.4 percent.  The sales volume is up for resale homes 7.5 percent and up 11.9 percent on condos and down 31.4 percent for new homes.
Mission Viejo  Zip Code 92691  sales prices are down 6.0 percent and the sales volume is down 5.5 percent. Mission Viejo  Zip Code 92692  sales prices are down 5.9 percent and … (0 comments)

Bloggers - 10/12/09 02:13 PM
Bloggers Be Worried
The FTC is beginning to move in on the bloggers and we should be worried.  The Federal Trade Commission voted 4-0 to establish a new rule to regulate freedom of speech on the Web for bloggerss  and social media users. 
An $11,000 fine could appear in your mail box from a federal official or a federal agent could knock at your door for violating the new rules.  The rules may not seem to effect you now but this is the beginning of quiting down the blogosphere.  The rules state that bloggers and social media must disclose any … (4 comments)

Market Report for San Clemente area - 10/11/09 05:18 PM
Market Report for San Clemente area

What is the market report for the last 4 weeks?  Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down.  The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.
Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent. Mission Viejo zip code 92692 … (0 comments)

Good News Orange County Beach Lovers - 10/10/09 09:33 AM
Heal the Bay an environmental group out of Santa Monica, California gave good news to beach lovers in Orange County's beaches excellent marks for water quality.  Of the 103 water sampling locations along the Orange County coast, all but one received an A or B grad for water quality.  That is why all us beach lovers find this to be good news.

There have been reports prior to this year where locations had been challenged to do better Like San Juan Creek mouth at Doheny State Beach and Baby beaches in Dana Point,  All received an A grade.  Demonstrating the efforts … (0 comments)

Bank Owned Inventory - 10/07/09 09:31 AM


Bank owned real estate inventory by all calculations will increase in the next few months.
 
Legal snarls, bureaucracy and well-meaning efforts to keep families in there homes are slowing the flow of properties headed toward foreclosure sales, even when borrowers are in deep distress. While that buys time for families to work out their problems, some analysts believe the delays are prolonging the mortgage crisis and creating a growing "shadow" bank owned inventory of pent-up supply that will eventually hit the market.
  
The size of this bank owned shadow inventory is a source of concern and debate among industry … (3 comments)

Loan Modifications Fail - 10/05/09 12:47 AM
Recently I have seen in various articles that over 50 percent of the home owners who are able to get their loan modifications fail because they fall behind again.  That is not what we need.  If the consumer cannot benifet from the loan modification and the fail to make payments at such a high rate, why would banks continue to try.  It will cause us to prolong the time period for the housing correction.

The statistics are better for those who's mortgage payments dropped substantially.  If the payments were dropped by 20 percent or more then only 1/3 or about 33.3 percent … (6 comments)

Job Losses - 10/05/09 12:17 AM
It seems that everyone is looking for the great indicators to keep getting better but there are these job losses.  However, we found that unemployment rate is now at 9.8 percent and it is the highest in 26 yrs.  September unemployment numbers announcecd Friday were our reality check and shows job losses continue.

Employers showed the job losses as 263,000 jobs in September more than the 150,000 to 200,000 that forecasters had expected.  Since December 2007 the number of people unemployed has risen from 7,6000,000 to 15,100,000.  The job losses have doubled to 9.8 percent the highest since June 1983.
If it … (7 comments)

Real Estate Market Level (Flat) - 10/04/09 06:42 PM
 
We have a report from MDA DataQuick home buying report for Orange County and it shows that the real estate market level is pretty much flat over the last year.  There were 2880 homes sold this year and 2898 sold a year ago.  It does show a 0.6 percent fewer sales but I think we must all agree that the real estate market level fairly flat over the last year.
August was the 14th straight months of sales gains vs the year ago.  A little under 50 percent of the areas by Zip Code in Orange County had year-over-year sales gains in … (1 comments)

Market Report for San Clemente area - 10/04/09 06:36 PM
Heer is the report for the last 4 weeks?  Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down.  The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.
Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent. Mission Viejo zip code 92692 prices are down 24.8 percent and the sales are … (0 comments)

Home Prices Rose Again - 10/01/09 12:20 AM

Home prices rose againin July, this activity will definitely help the foreclosure markets recover.  Higher home prices show that the recession is slowing because the consumer is still willing to take some risk with the home prices are lower.  The home prices for Los Angeles and Orange County gained for the second consecutive month in July.  The increase was 1.8%. 
A twenty city composite home price index was up 1.65 percent vs. June, the third consecutive month to month gain. 
Thirteen cities in the index enjoy at least three consecutive months of positive pricing.  Over all the annual home prices … (1 comments)

 
Mark1_ Rainmaker_large

Elite Home Sales Team Keller Wms. Realty

San Clemente, CA

More about me…

Address: 27101 Puerta Real, Mission Viejo, CA, 92691

Office Phone: (949) 282-2521

Cell Phone: (949) 643-8400

Email Me

Over 40 Years Experience Representing Real Estate Investors and South Orange County Home Owners. We are Successful Real Estate Negotiators Networking to Deliver Results! www.markandtim.com


Listings

Links

Archives

RSS 2.0 Feed for this blog