Big Drop in Distressed Homes for Sale Listings at Orange County CA

Orange County CA real estate has experienced a big and dramatic drop in number of distressed residential properties – both short sales and foreclosures – listed for sale.

Orange County distressed homes listing inventory

 

Total Orange County distressed property listings, short sale and foreclosure listings, is down from peak during 2007 of about 5,000 – to less than 500 homes – lowest level in many years. 

Orange County CA real estate 2013

The current Orange County market continues to be strong with buyers who are basically cleaning out the inventory of homes for sale almost as fast as they get to market.

Average market time to sell all Orange County homes is less than 1.5 months – time it would take to theoretically sell all Orange County homes now listed at current rate of sale.  This fast market with not enough listings favors the sellers.

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This is for information only and is not the providing of tax or legal services, and source of Graphic is www.ReportsOnHousing.com.           

  Professional REALTOR® agent and broker representation – for property owners, sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  

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C.A.R. Launched New Tool to Help Home Buyers Bridge Down Payment Gap

California Association of Realtors 

In an effort to provide California home buyers with up-to-date information about available home buyer assistance programs, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today (February 19, 2013) launched California Mortgage Resource Directory (http://mortgage.car.org), a powerful search tool that identifies current mortgage programs in communities throughout the state.

Buyers can search by city or address for public- and private-funded assistance programs including FHA/VA, HUD, affordable fixed-rate mortgages, rehab loans, and more.

“Millions of dollars go unused every year because home buyers are unaware of the various buyer assistance programs available to them,” said C.A.R. President Don Faught. “With California Mortgage Resource Directory, REALTORS® and buyers can quickly connect with any number of home buyer resources without having to search within each municipality individually.”

California Mortgage Resource Directory helps bridge the down payment gap for homebuyers and connects them with resources that they may not have otherwise known existed. The new directory is powered by Down Payment Resource, the nation’s only web-based aggregator of home buyer programs.

“With real estate-related searches growing more than 200 percent over the past four years, it’s clear today’s buyers are increasingly using online tools to find financial information,” said Rob Chrane, president and founder of Workforce Resource, creator of Down Payment Resource. “We’re excited to work with C.A.R. to deliver this valuable information to REALTORS® and home buyers alike.”

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Down Payment Resource, winner of the 2011 Inman News Innovator “Most Innovative New Technology” award, helps potential home buyers become qualified buyers by connecting them to hard-to-find down payment assistance funds. The tool was developed by Workforce Resource (www.workforce-resource.com) and is made available through Multiple Listing Services, REALTOR® associations, and nonprofits. 

 

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  Source of information is California Association of Realtors, February 19, 2013      

 

  Professional REALTOR® agent and broker representation and help for property owners, sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.   

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Newport Beach CA Home Selling Big Numbers to Cash Buyers

Newport Beach CA home owners sold lots of homes last year 2012 to all cash buyers.  Property sales were up and values improved.

Newport Heights homes

1,075 Newport Beach homes sold last year during 2012 – an average of almost 90 homes sold per month.

Average sold price of homes at Newport Beach last year was $1,439,382.

Cash buyers for homes

651 of the sold homes at Newport Beach during 2012 were to all cash buyers – so almost 60 percent of Newport Beach homes sales during 2012 were to cash buyers who used no purchase money loans.

It's not surprising that Newport Beach home sales were up last year – and that its home owner/sellers are getting happy again.

Newport Beach CA home selling

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This is for information only from DQNews and CRMLS and is not the providing of legal services.

 

Professional REALTOR® agent and broker representation – We help property owners, sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

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Top Things Orange County Home Sellers Should Consider for Listing Strategy

 
 

Top Home Selling Strategy

Top Things for Orange County CA home sellers to consider prior to listing for sale. Orange County CA home selling

1. Clean and uncluttered is key for your seller success. Buyers always like to see clean and uncluttered homes.

LISTING YOUR HOME FOR SUCCESS

2. Staging for showing and sale – Interior new paint and replacement furniture and furnishings could be the perfect improvement for your home to show off for buyers. Contact an experienced local Realtor agent for information on your choice of staging contractors.

3. PRICE IT RIGHT – See and used closed sale property comp data as key for success. price it right

Buyers will always look at the comps. When it comes to price, the market’s opinion on sold homes is what matters and will indicate range of value.

CHARACTER OF LOCAL PROPERTIES

4. Preview other homes in the neighborhood. Real estate is local, and character and attractiveness of your home for buyers will depend upon how other properties show.

5. Consider possible renovations and improvements, which would bring you home up to community expectations and help it sell quickly.

6. Prepare your property and list your home for sale now and as soon as possible before start of springtime. You will want to list and market your home while others are on sidelines and before other sellers compete for your buyer.

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Contact us for free comparative marketing analysis of your Orange County home and strategy for listing and selling at the highest price in the shortest possible time.

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Professional REALTOR® agent representation – help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

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Orange County CA Housing Markets Continue to be Tight

Orange County continues to experience very tight housing markets and not enough homes listed to satisfy buyer demand.

ORANGE COUNTY CA HOME SELLING

Broker Steven Thomas at his www.ReportsOnHousing.com said again this week that Orange County simply doesn't have enough homes on the market.

ORANGE COUNTY LISTING INVENTORY

Orange County homes that are priced correctly and placed on the market these days are selling very quickly.

Number of homes sold last month January 2013 at Orange County is down from last year, because REALTORs® and brokers don't have enough homes to show and sell.

Number of active listings at Orange County – 3,271 homes – is close to number of pending sales – 2,887 homes.  This shows big buyer demand.  

Average market time for Orange County home selling – from list date to conclusion of sale – is very fast and favors sellers big time.

Orange County home owners who want to sell should know:  Now is the best time for Orange County sellers to get going, list for sale and price properties correctly.  Owners should contact experienced local REALTORs® and get their homes listed for sale now and as soon as possible.

 

WHY NOW IS BEST TIME TO SELL

   

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Most Californians Still Follow the Suburban Living Dream

Millions of Southern Californians have followed the suburban living dream involving single-family homes during the past fifty years, and that trend continues.

CA SUBURBAN LIVING
 
Governor Brown has recently tried to dampen the California trend toward single-family home living.  He wants to encourage people to move away from suburbs and toward his urban living model – toward apartments and condos located near bus and rail transportation centers.
 
But that urban living idea won't work for most Californians.  
 
About 80 percent of new construction for residential property in CA continues to be single-family homes.  Californians like to buy and live in single-family houses, mostly in suburbs.
 
With the California housing recovery is moving in a positive direction, the market for rentals will probably decrease while people continue to buy single-family homes. 
 
Most Californians like their suburban living and won't move toward urban city life.
 
Planners and CA politicians should pay more attention to what people want and value in suburban living.  

Suburb areas should be improved for quality of life, including placement of solid public schools in each geographic area, hiking and biking trails, creating more open spaces and parks to be permanent and accessible for residents.

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  Source of some information is OCRegister.com and commentary by Joel Kotkin.     

  Professional REALTOR® agent representation – help for property owners, sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate plannersincome tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  

 Contact us for information about buying and selling Orange County CA homes and real estate.  

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Turtle Ridge Irvine CA Real Estate Update

Turtle Ridge Irvine real estate

Turtle Ridge at Irvine CA is a luxury and private residential community – with about 1,400 homes located on the western side of the city in the hills area above Newport Coast.

57 Shady Lane, Turtle Ridge Irvine –  $2,500,000 – 4 bedrooms and 3 baths – 3534 SF interior – active for sale – MLS# P836588

92 Turtle Ridge homes have sold during this past one year – with average sold price at $1,409,649 – average interior size of 2680 SF.

11 Turtle Ridge homes are now under contract and in backup and pending status on the MLS.

Turtle Ridge now has 11 homes listed active for sale – with average asking price of $2,274,000 – and average interior size of 3624 square feet.

26 Woodcrest, Turtle Ridge – $2,399,000 – active for sale – 3 bedrooms and 5 baths – 3887 sf interior size – MLS# S721174

Many of the Turtle Ridge homes have expansive views of the hills and some with Newport Coast views.

Turtle Ridge Irvine homes for sale listings – click here

 

22 Cezanne, Turtle Ridge – $2,000,000 – 5 bedrooms and 5 baths – 3400 sf interior – active for sale – MLS# L40471

Turtle Ridge Irvine homes for lease listings – click here

 

Contact us about Turtle Ridge Irvine homes and properties.   

CONTACT US HERE

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Source of information is CRMLS and IDX and references listings and sales for all agents and brokers.   

 

Professional REALTOR® agent representation – help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

 

Contact us about Turtle Ridge Irvine homes and properties – whether you want to list and sell or buy a home.  

 

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Northpark Homes at Irvine CA Real Estate

Northpark homes at Irvine CA real estate are properties mostly built at some time during the past 15 years – and continue to offer safe and sought-after neighborhoods for buyers and residents.

Northpark Irvine homes

7 detached single family homes are now listed for sale at Northpark – with average asking price of $1,031,612 – average interior size of 2826 SF.

S722147

7 Hallwood, Northpark, Irvine – $845,000- 4 bedrooms and 3 baths – 2300 sf interior – sale is pending – MLS# S722147

S719815

24 Kernville, Northpark – $1,198,888 – 4 bedrooms and 4 baths – active for sale – 3664 sf interior size – MLS# S719815


30 Pacific Grove, Northpark – $1,285,000 – 4 bedrooms and 3 baths – 3500 sf interior size – sale is pending

51 detached single family homes sold at Northpark last year during 2012 – with average sold price at $963,534.

Northpark is located in the Tustin Unified School District where young people would mostly attend Beckman High School.

Contact us about listing and selling or buying a Northpark Irvine CA home.

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Source of some information is CRMLS and involves homes listed and sold by all Realtors and brokers.
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Newport Heights at Newport Beach CA Real Estate Update

NEWPORT HEIGHTS HOMES

Newport Heights is an area of Newport Beach with homes and businesses located above Newport Harbor and Pacific Coast Highway, East of Newport Blvd, south of 16th street, west of Upper Back Bay – and is a sought-after area for home buyers.

16 single family detached homes are now listed for sale at Newport Heights ~ with average interior size of 4,000 sf – and average asking price at $2,644,306.

U12004402

Some people like architecture at Newport Heights for the vintage houses on some of the streets, and others like those that have been completely rebuilt from top to bottom during the past eight years.

See all NEWPORT HEIGHTS single family detached homes now listed for sale – click here.

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Source of some information is CRMLS.
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Home Sellers Best Time to Move Up is Now

Move Up home sellers 

Best time for sellers to move up is now at Orange County CA real estate.

Selling prices have gone up during the past twelve months – with lots of motivated buyers – and limited number of listings, which resulted in markets now favoring sellers.

Sellers at Orange County should get off the sidelines to list and sell homes now – while taking advantage of higher selling prices and home buying at the next level with excellent mortgage rates

SELLERS ADVANTAGE ON MOVING UP

Example:  If a homeowner wants to upgrade and move up from a $500k home to an $750k home – and if he waits one year for prices to go up ten percent – the $500k home would be $550k, and the $750k home would also be $75,000 higher – now at $825,000.  So the seller would lose $25,000 by waiting to sell and move up. 

LOW MORTGAGE RATES ARE TEMPORARY Mortgage rates have remained near all-time lows and are still excellent.  

But these rates are temporary and will not last.  Expect U.S. Government's continued putting money into markets will eventually lead to inflation and higher mortgage rates.

Our advice to those who want to move up to a nicer or larger home is to ACT NOW – hire an experienced Realtor and real estate professional who will get your property on the market as soon as possible.  

Use your HOME SELLERS ADVANTAGE to list and sell quickly – then buy your next home while using some of the best mortgage opportunities in years. 

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 Source of some information is Steven Thomas at ReportsOnHousing.com.    
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