Homes listed for under a million bucks have a market time of 1.75 months compared to 10.57 months for homes listed for more than $1 million. This means it takes more than 6 times longer to sell a home priced at over $1 million dollars. Home priced are not dropping in the lower ranges, but homes
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09/21/2009
Sales in beach cities was up 14% from a year ago – with 429 homes selling in beach cities ZIP codes last month. The average selling price was $641,750 and 16.9% decrease from last year. The breakdown from home sales throughout the county were as follows: The median selling price for a home in a
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09/21/2009
There is potential for the Federal Reserve Board to stop purchasing mortgage backed securities on January 1st which could cause mortgage rates to jump any where from 30 bps to 50 bps. The Feds $1.25 trillion MBS purchase program is set to expire on December 31, but it is expected to be extended
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09/21/2009
The number of tax appeals received by the Orange County Clerks office totaled 15,050, last year there were 14,527 appeals. Property owners had until Tuesday to request a hearing to review the county’s opinion of what their real estate was worth. The Orange County Assessor’s Office already lower
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09/21/2009
Renters inflation rat at a 1.2% annual rate – the lowest rate since March 1997. The equivalent rate for homeowners rose at a 0.3% annual rate, which was the lowest since February 1995. For the tenth straight month household energy prices declined and the annual rate of household furnishings and
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09/21/2009
The number of Orange County property owners disputing their property taxes jumped 23% this year. The deadline to appeal is less than a week away and the Orange County Assessor’s office already reduced tax assessments for a fifth of the county’s land parcels. This year so far there have been
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09/21/2009
Local hotel owners had a slow summer. In the last year room rates fell 16% and 21.2% of rooms went empty. Hotels in the Newport Beach area cut rates by 24% and still saw the number of room reservation fall by 30%. Countywide the “revpar” (a key hotel cash flow measure tracking rates and occupan
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09/21/2009
Total home sales and median prices have been rising since the start of the year. Investors have played a part in the housing rebound by purchasing an increasing number of homes in Orange County over the last 4 months. Overall investors accounted for 20% of purchasers last month in Southern Cal
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09/21/2009
Orange County Home buying in August was up 6.6% from a year ago with O.C. shoppers purchasing 2,985 residences. The median selling price of homes was $420,00, which is a decrease of 5.4% since last year and 35% below June 2007’s peak. Prices have been falling on a year-over-year basis since Se
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09/21/2009
The home price-cut rate in Orange County is down 29% in August. Garden Grove’s 92844 ZIP code shows the fewest listing with price cuts – 7%, while the 92845 zip code in Garden Grove is seeing the most in the county at 43%.
09/21/2009
