90 Percent Of Orange County Home Prices Moved Down

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Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781
https://activerain.com/droplet/v7K

90 Percent Of Orange County Home Prices Moved Down

It is sad to see that the Orange County has suffered with 90 percent of the home have lost value when their prices have moved down.  Data Quick 2010 and 2011 calender years our median price of $480,000 is down 6 percent.  It is even worse news for condo owners with an 8 percent drop.

Only two zip codes had a positive up turn in both price and number of sales in the year 2011 and that was Newport Beach 92662 and Orange 92869.   

The numbers are sad that we have lost 34 percent of the value since 2007. 

When someone tells you the market is getting better I ask where and how that is happening.

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Topic:
Real Estate Market Trends
Location:
California Orange County Mission Viejo
Groups:
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Keller Williams 'Rainers
Agents who want REFERRALS!
Orange County Real Estate
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Rainer
337,484
Nathan Rufty - 623-850-1210
Canopy Mortgage, LLC - Surprise, AZ
Mortgage Loan Originator at 623-850-1210

that is alot but do you think they have been well over priced to begin with? Nice to have them much more afford then before so more orange county residents can obtain homeownership and the condos have taken the biggest hot through the country, with the complex falling off the FHA and Fannie MAE approved list do not help the cause.

Feb 12, 2012 03:46 AM #1
Rainmaker
247,962
Greg Cook
Platinum Home Mortgage - Temecula, CA
Mortgage Consultant NMLS ID# 283159

Tim, maybe it's just the OC catching up with the rest of SoCal?

Out here in the IE, our "improving market" is really getting "less worse".

Most of the NAR/CAR data is so skewed you can't rely on it. We use DataQuick and have

come to rely on their results as the most accurate.

Feb 12, 2012 03:50 AM #2
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Nathan

It is a real loss of value for those that purchased in 2011 or before.  It has nothing to do with listed price.  I think that when you see these kind of losses it is hard to state they were over priced in 2011 when we have been loosing value since 2007 that is 5 straight years.

Feb 12, 2012 05:30 AM #3
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Note to Greg second sentence it states data came from Data Quick.

Feb 12, 2012 05:31 AM #4
Rainmaker
854,495
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is truely difficult to see the number of people that have been injured by all of this.

Feb 12, 2012 05:11 PM #5
Ambassador
1,510,944
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Tim - The numbers may be bad but it's great to see an honest Realtor® that tells it like it really is. 

Feb 13, 2012 02:00 AM #6
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Mark

It is sad.

Feb 13, 2012 02:41 AM #7
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Thanks John

For the wonderful compliment it is appreciated.

Feb 13, 2012 02:45 AM #8
Ambassador
1,654,264
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Tim it is really sad especially since that was the money many were counting on when they retired and downsized.

Feb 14, 2012 12:30 PM #9
Rainmaker
1,022,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Jenifer

It is a sad situation.

Feb 19, 2012 05:15 AM #10
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Rainmaker
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Tim Lorenz

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