market conditions: Orange County's Inventory Is Down 33 Percent
- 03/11/12 10:55 AM
Orange County's Inventory Is Down 33 Percent Orange County has dropped 33 percent on the number of listings comparied to the begining of 2011. The sellers are not coming on the market as they have in the past. To be sure we have not seen this since 2005. Some believe this will drive prices up. Yet we have not seen that happening. As I look at the blogs on Active Rain I see that many of the blogs note a drop in there areas as well. If the market is picking up. I do not see it. We need consumer confidence … (14 comments)
market conditions: No Lasting Effect From the Tax Incentive
- 08/01/11 12:22 PM
The results are from the various tax incentive programs and there was no lasting effect. I personally am grateful for those that got into the market and purchased a home and got those tax incentives and added to my personal bottom line. The effect was not what government wanted or hoped for from such a program. The results show 1 year after the tax incentive is over. The buyers payed less for their homes (median price went down) or about 1.6% less. In the 1st 6 month of 2011 we have a lot fewer buyers and show we are down 8.3 … (8 comments)
market conditions: New Home Sales Up
- 05/01/11 10:36 AM
In the Orange County Register we had an article from the associated press that shows that new home sales were up in March. More people bought new homes in March, helping give the housing industry turn toward the positive. It has been the worst winter season for Real Estate for almost 50 years. New home sales rose 11 percent nationally. Even so the numbers are down overall and are well below one half of what economists consider healthy sales. Residential construction has slowed to a trickel of what it was and what is normal. Maybe this will lead to a better … (6 comments)
market conditions: Experts State Housing Market is Weak
- 05/01/11 09:47 AM
The experts state the housing market is very weak. Fed Chairman Ben Bernake at his news conference stated,"housing market remains very weak". Likewise the some economists at Cal State Fullerton called the market unsettled and will continue to be a drag on the recovery. High unemployment rates, tighter lending practices and depressed home values drag down the recovery in the housing market. Home prices are seen as more than likely will remain down according to IHS Global's economist Patric Newport. His quote is , "Are we nearing athe end of falling house prices? Probably not." The Commerce Department reported that new home … (4 comments)
market conditions: All Cash Purchases Increase
- 04/03/11 08:48 AM
All cash purchases of real estate is on the increase all over the United States. As the rules and guidelines tighten on the home purchaser fewer buyers qualify. When fewer qualify there are fewer buyers for the homes on the market. Fewer purchases drive prices down and investors come in with cash and buy homes. That is what we are seeing now and into the future. Over the whole of the US 33 percent of the purchases are by investors. Question: Are there more people that can purchase a home with cash or with loans? You are correct with loans. If … (4 comments)
market conditions: February Was a Difficult Month For Real Estate
- 03/20/11 08:07 AM
February was a difficult month for real estate. February is usually better than January, this year it was not. In fact, DataQuick reported Orange County home sales fell when compared to January and to a year ago. Oops there is a problem. I really thought that the market was moving well and we were coming out of the problems. The kind of early year down turn is rare. It is a worrisome trend if it goes forward into our real estate season. February was not good for builders across the state either. The Commerce Department statistics show construction falling 22 percent … (6 comments)
market conditions: Coastal Laguna Estates Are Lower in Price
- 11/21/10 06:28 AM
Now is a great time for buyers to shop for a great deal along the Laguna Beach coast for that coastal estate because of the lower price offer. According to The Orange County Register the homes on the sand in Laguna Beach are a little bit cheaper today. Some experts claim that now is a great time (holiday time) to swoop in and purchase a home in Laguna for a lesser price. A home in South Laguna on Coast Hwy has dropped its price has dropped its price by $1,000,000 dollars. It is a home located on the ocean front and … (2 comments)
market conditions: Seasonally Holliday Inventory Drop
- 11/21/10 06:07 AM
I know that seasonally we see a drop in inventory during a Holiday period. The period of just before Thanksgiving and on tell after New Year is the most sever. In Orange County California we are seeing a 2 percent drop in the last two weeks. That drop equates to about 274 homes. However, we are seeing a weakening of the market, because sellers have either given up or do not want to try to sell their homes in this climate. Inventories have dropped Since September by 741 homes or 6 percent. Last year the market and the consumer both showed faith … (4 comments)
market conditions: Nothing Much Happening on Price
- 10/03/10 07:29 AM
We are in a time when the market is flat and nothing much is happening on the price of a property here in South Orange County. Fewer buyers and larger inventories yet not many sales in the market. It could go down but none of the usual economic groups are predicting a downward run on price, nor a quick turn around. Standard and Poor's/Case-Shillerhousing indexes show on a month to month basis Los Angeles/Orange County prices rose 0.35 percent. They also show that year over year basis, Los Angeles/Orange County prices rose 7.5 percent in July for the 7th consecutive gain. … (14 comments)
market conditions: Mission Viejo Area Market Report
- 05/23/10 07:06 AM
This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 17.4 percent, for new homes it is up 32.8 percent and for resale condos up 16.6 percent. The sales volume is up for resale homes 9.7 percent and down 11.1 percent on condos and up 18.7 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are up 22.5 percent and the sales volume is 33.3 percent. Mission Viejo Zip Code 92692 sales prices are down 2.1 percent and the sales volume is up 38.3 percent. Aliso Viejo sales prices are down 0.1 percent and the sales volume is down 5.5 percent. Laguna Niguel sales prices are down 3.8 percent and the sales volume is up 38.1 percent. Rancho Santa … (2 comments)
market conditions: Mission Viejo Area Market Report
- 03/21/10 05:29 AM
This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 12.8 percent, for new homes it is up 6.0 percent and for resale condos up 11.8 percent. The sales volume is down for resale homes 4.8 percent and up 23.9 percent on condos and up 87.7 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are even 0.0 percent and the sales volume is up 11.1 percent. Mission Viejo Zip Code 92692 sales prices are down 24.6 percent and the sales volume is up 123.8 percent. Aliso Viejo sales prices are down 1.4 percent and the sales volume is up 29.5 percent. Laguna Niguel sales prices are up 0.9 percent and the sales volume is … (0 comments)
market conditions: Here are the statistics for Orange County 331% increase A View From A Mission Viejo Realtor
- 09/09/09 06:12 AM
I ran some data from the multiple listing service here in Orange County, California. I think you will find it interesting. At the end of August and the begining of September 2007 we had over 17,000 properties for sale but only around 1,900 properties in escrow or under contract. That made a great buyer's market because there were few buyers and a lot of property. Prices dropped significantly from that point on. We know it got more and more difficult to get a loan (full documentation and FHA). At the end of August and the begining of September 2008 there were … (0 comments)
market conditions: 6 Orange County Office Properties Go Back to Bank
- 08/11/09 05:43 AM
Today in The Orange County Register and article written by Mathew Padilla stated that Maguire Properties would stop paying on the debt and give the properties back to the bank. There are six Orange CountyProperties and One in Los Angeles for a total of seven properties. Maguire Properties paid top dollar for some of Orange County'smost prominent and visible properties. They assumed that rents would keep raising and they did not. The result was rents went down because of the increasing vacancy rate in Orange County now approaching 20%. This does not help a depressed Commercial Property market and does play … (0 comments)
A real estate professional and investor for over 45 yrs look at the market, the laws, the trends and the condition of the market. A runing commentary of one persons professional's opinion.
Orange County's Inventory Is Down 33 Percent
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