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real estate news: How is Your Local Real Estate Market? Buyer Demand for Housing is Up at Orange County CA Real Estate - 02/19/12 05:14 PM
REALTORs® and real estate professionals and their customers are looking for local market trends.
We have something new to talk about now when people at Orange County CA ask - "How is the real estate market?"
Buyer demand for Orange County CA homes and properties during first 6 weeks of this year 2012 is at highest level as compared with that time each year since 2005.
This is according to Steven Thomas at ReportsOnHousing.com - who measures buyer demand by the number of new pending sales over the prior month. Those pending sales numbers are up.
According to this … (0 comments)
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real estate news: FHA Loan Limits Restored by U.S. Congress - Good News for Real Estate - 11/18/11 02:47 PM
That U.S. Congress on November 17, 2011, restored the loan limits for the Federal Housing Administration (FHA) for two years should be good news for real estate.
FHA, Fannie Mae; and Freddie Mac loan limits were reduced two months ago in 42 states, which priced potential home buyers out of the American Dream of home ownership and holding back the housing recovery.
The National Association of REALTORs® and its leaders worked carefully to get the loan limits restored.
The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for families and buyers in … (0 comments)
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real estate news: Buyer Demand Way Up & Home Sales Market Time is Short ~ Irvine, California - 07/30/09 11:34 AM
Irvine, California ~ with some of the best residential neighborhoods at Orange County, located near Newport Beach, Laguna Beach, Newport Coast, and within a 10 minute drive of the Pacific Ocean at Crystal Cove.
Famous for pleasant weather, Irvine has lots of sunshine, award winning public schools, healthy business climate with good job opportunities, the University of California Irvine, wonderful parks and recreation areas, encouragement for business and development, diverse backgrounds of residents, many locations for recreation and fitness, places for freedom of worship, and is one of the safest cities in the United States.
LOCAL HOUSING MARKET REPORT
600 Irvine homes are now for sale on the market, with 164 homes sold the last thirty days, and 406 homes … (4 comments)
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real estate news: Now is Indeed an Excellent Time to Buy a Home - 07/24/09 04:06 PM
Now is an excellent time to buy a home.
See Marc Roth article at BusinessWeek.com ~ "Now's the Time to Buy Your Dream House" ~ click here for article.
Why is now an excellent time?
If you have a down payment and can qualify for the loan, now is a great time for you. Mortgage rates remain incredibly low. Home prices are very low. Selection of homes is high for buyers. This makes sense and is encouraging news for homebuyers, especially first timers (or those who have not owned a home for the past three years) who can take advantage of the $8,000 income tax credit.
The … (0 comments)
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real estate news: US Home Sales ~ May 2009 ~ Good Real Estate News - 06/30/09 02:51 AM
The US Federal Reserve (the FED) during the week ending June 26, 2009, made no change in the FED funds rate, and mortgage rates were generally unchanged.
According to the National Association of Realtors, existing US home sales in May 2009 rose 2.4% vs. April 2009. That was the first time since September 2005 that existing home sales increased for two months in a row.
Market Saturation ~ The US inventory of unsold homes declined to a 9.6 month supply in May 2009 from a 10.1 month supply in April.
The National Assoc. of Realtors survey showed that 29% of May home sales were to first-time homebuyers, which … (6 comments)
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real estate news: Good News About Home Loans and Mortgages - 04/22/09 10:28 AM
What's the good news with home loans and mortgages? Lenders and mortgage brokers report ... April 21, 2009 ...
Mortgage brokers have the lowest rates of modern times for conforming loans up to $417,000, with fixed rates for 30 year to 10 year loans in the mid 4% range with one point, or in the high 4% range without points.
See my prior article about getting close to 4% home loan rates ~ Will We See California Home Mortgage Rates As Low As 4 Per Cent? ~ on December 18, 2008).
Mortgage Brokers now have Jumbo loans available (varies from state to state), which are mostly in the 5, … (0 comments)
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real estate news: Let's Look For Some Good News - 03/25/09 10:19 AM
It's human nature for people to focus on the bad news in our lives. Some people are even happy when they are worried and have even more bad news. Others can't wait until they complain to their wives, husbands, family and friends about the bad news.
I try and resist that temptation and look for some healthy and positive stories.
The Daniel Stone article at Newsweek on March 23, 2009, reminded me that "The best reason to get a healthy dose of good news is that it's good for you."
Check out ODE Magazine ~ for some alternative and good news.
ODE has an article today on Retrofitting our way to clean air ~ about … (11 comments)
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real estate news: Irvine, California ~ Local Housing Market Update ~ March 18, 2009 - 03/18/09 10:18 AM
IRVINE is considered to be the economic center of THE OC, CALIFORNIA ~ with vibrant businesses and quality employment positions in medical, banking, finance, education, high tech, hotels and travel, service, real estate, business consulting, research and development.
There are now 755 homes for sale at Irvine ... each with average of 79 days on the market.
179 of those homes now for sale are SHORT SALES NOT YET LENDER APPROVED (which is 23.7 percent of market and up from last month and one year ago)
24 of those homes now for sale are REO bank owned (3.2 percent of market, which is down from last … (4 comments)
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real estate news: California Law Prosecutors Have Sent Members of Illegal Mortgage Loan Modification Scams to Prison - 03/10/09 08:20 PM
California Attorney General Brown Sent Perpetrators of Loan Modification Fraud to Prison. (click here for the article)
California Attorney General Jerry Brown announced March 8, 2009, that three individuals pled guilty to loan modification fraud against "desperate California homeowners" and were sentenced to as much as 6 years of prison.
More Good News ~ Mortgage Loan Mod Scammers Will Be Off to Prison (click here to see another article)
"While doing nothing to help and pocketing all the money, these individuals ripped off desperate California homeowners who paid thousands of dollars to stop the foreclosure of their homes," Brown said.
The AG reported that defendants sentenced were part … (2 comments)
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real estate news: Local Housing Market Update - Irvine, California - February 2, 2009 - 02/02/09 01:13 PM
With some of the best residential neighborhoods and homes in South OC, Irvine is located next to Newport Beach, Laguna Beach, Newport Coast, and within a 10 minute drive of the Pacific Ocean at Crystal Cove.
Irvine is especially known for its pleasant weather with lots of sunshine, excellent and award winning public schools, healthy business climate with good job opportunities, University of California Irvine, encouragement for business development, celebration of diversity, places for freedom of worship, and one of the safest cities in the United States.
As of today, February 2, 2009 ~ there are 653 homes listed for sale at Irvine with average list price of homes is $751,576 (average time on the … (4 comments)
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real estate news: An Expert's Prediction for Orange County, California, Real Estate for 2009 - 01/02/09 11:49 AM
Jeff Collins of the Orange County Register reported on January 1, 2008, about Bill Halford, president and CEO of Bixby Land Co., an Irvine-based commercial real estate investor and developer, and his belief that real estate market will likely ........
Questions for the expert by Jeff Collins at the OC Register:
When will the real estate market hit bottom?
What numbers are you watching and what things are you watching anecdotally to see which direction the market is going in?
What do you fear the most about the real estate market?
What gives you hope?
What surprise or surprises will we be looking … (6 comments)
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real estate news: Was the LA Times Providing Valuable Real Estate Information for the Community? - 08/04/08 04:06 PM
Was the LA Times weekly coverage of real estate, with the market, trends, developments, wants and needs, articles, discussion, commentary, relevant and valuable?
The editors at LA Times could have done a better job serving the community with information about properties and real estate.
Perhaps the LA Times.com will move forward and do a better job.
The Los Angeles Times today announced that it ceased publication of its weekly real estate section, which was started more than 100 years ago.
Are you surprised?
Posted by Harrison K. Long, Explore Properties Group, August 4, 2008.
Shady Canyon view toward Strawberry Farms
… (5 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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