Real estate is an industry of a thousand opportunities, which you already know. If you look at the number of house hunters in Orange County, you will quickly recognize a pretty bounty–the kind that no serious investor would want to joke about. Compared to last year, you will notice this year that most house seekers have limited options and thus the housing market in Orange County is experiencing a glorious boom.
Nonetheless, though there is tremendous growth in the housing market, do not be fooled into thinking that all parts are the same. Of course, some parts of Orange County are experiencing a positive outwards growth, meaning that investments in those areas are doing very well, while others are not doing so fine.
Luckily, as an investor, you do not have to worry about that now. We have compiled a list that will act as your guide and will help you know where to place your money for a nice investment jump-start in the Orange County housing market.
Stanton
According to the housing statistics just released by ReportsOnHousing, Stanton is one place in Orange County where we can definitively say that home buyers are thirsty for new houses. That is comforting. Last year, the time on market in Stanton was about 60 days, which this year improved by 50% to a time on market of 30 days. The area recorded 15 listings with an average value of about $681,720 and also a major hallmark of 15 new escrows.
Foothill Ranch
With 14 new escrows, Foothill Ranch is another place where investors should start turning their eyes. There is no doubt about the performance of the housing market in this area. If you look at the time on market a year ago, you will realize that the value has improved from 50 days to now 39 days on the market. This included 18 listings all standing at a value of $661,026.
Fountain Valley
Standing at 39 days market time, this is not bad. This is an area standing in third position and this is a chance you may not want to let go. If you were to compare the market time for this area with that of a year ago, you will realize that there is a major improvement since it recorded a 70 days market time. The area also recorded 31 listings all standing at a value of $795,768; also included in the list are 24 new escrows.
Rancho Santa Margarita
Rancho Santa Margarita is another perfect place in Orange County showing good chances for nice returns. Like Fountain Valley, the place recorded a 39 days market time which is down from the previous year where it had recorded a 50 days market time. With 34 new escrows, nothing bad can be said about the area. Generally, it is a big fish for any investor wanting to try deeper waters. The area also recorded 44 new listings standing at an average value of $559,948.
Buena Park
One of the nicest places, this promises a lot more than you would expect. And basically, there is a good reason to smile because the market time for this place stood at 87 days a year ago, but this year, the figure improved to 42 days market time. When you also look at the market listings, you will notice that the area recorded 46 new listings at an average price of $656,492, and 33 new escrows.
Lake Forest
Can we talk about the fast moving housing market areas in Orange County without talking about Lake Forest? Well, this area also shows an improvement since it last recorded 47 days market time. This year, that figure stands at 43 days with 49 listings at an average price of $648,132 and 34 new escrows.
La Palma
Standing in the seventh position, nothing much can be said about this area. But nonetheless, it is a region showing improvements. The area recorded 10 listings standing at an average $746,066 and 6 new escrows. Comparing the market time this year with that of a year ago, there is also an improvement from 55 days to 50 days market time.
Cypress
This is another region performing quite well in as much as a housing market in Orange County is concerned. A year ago, the area recorded 127 days market time; comparing that figure to this year, there is no doubt that the area is performing quite well since the market time is now standing at 51 days. There were 36 listings, all standing at $620,100, and 21 new escrows.
Aliso Viejo
This is another place in Orange County that will surprise you. A year ago, the market time stood at 55 days; now, the market time is at 53 days. With 34 new escrows, the market is performing quite well, since there are 60 listings all standing at $650,785.
Those are some of the markets in Orange County that have shown a huge potential with high return capabilities. However, there are still some other markets where there is a very low return rate, including North Tustin, which records 470 days market time. This calls for precision when making your investment choice.
ERIC LAWRENCE FRAZIER, MBA
President and CEO
NMLS 461807 CAL BRE 01143484
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Eric Lawrence Frazier, MBA
President and CEO
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