Real Estate Blog

Orange County Housing Report:  

A Blazing November

With an extremely limited supply, this is the hottest November since 2012.

 

November 16, 2020

 

 

 Hot November Housing

With an Expected Market Time of 41 days, in the midst of November, the Orange County housing market is hotter than the Spring Markets of 2014 through 2019.

Just because everyone is sipping their favorite Starbucks latte from their recently unveiled holiday cups, does not mean that housing will slow this year. In fact, if a home is priced according to its Fair Market Value and is in great condition, it will procure multiple offers, a bidding war will ensue, and it will often sell for more than the asking price. Home values are on the rise. The difference this

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Orange County Housing Report:   Season’s Greetings

November 2, 2020 

The holidays are knocking on the door, which will result in a drop in both the inventory and buyer demand. 

 

The Holiday Market
From now through the end of the year, the active inventory typically drops about 27% and demand drops by 31%. 

Daylight saving time just ended. Everybody got an extra hour of sleep, but it now gets darker earlier. In adjusting the clocks in the house, it marked the beginning of a new season, a season of preparation and festivities, the holidays. With Halloween 2020 in the past, it is time to get the holiday lists in order. Many are thinking, it is just too soon. It is not “officially” the holidays until the red cups arrive at Starbucks.

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Orange County Housing Report:

Values Going Up

October 19, 2020

The Orange County housing market will remain a Hot Seller’s Market for the remainder of 2020 and into the New Year, paving the way for persistent appreciation.

 

Appreciation

With strong demand and an incredibly low inventory, the market will continue to lean heavily in favor of sellers, resulting in home values rising. 

There is a scarcity of homes for sale. Multiple offers are the norm. It is not uncommon to hear that 15 offers are generated on a home that just hit the market. When this occurs, a bidding war ensues. It is as if a mini auction occurs. The highest and best offer wins and 14 buyers must go back to the drawing board and continue their search for a home. More

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Orange County Housing Report:

Powerful, Strong, Resilient

October 5, 2020

 

Regardless of the vantage point, housing is lining up favorably for both buyers and sellers as the market flexes its strength in starting the fourth quarter of 2020.

 

A Powerful Market

With a low supply and extremely strong demand, the Expected Market Time is at its lowest level to start October since tracking began in 2004. 

The lighthouse is a perfect metaphor for something that is powerful, strong, and resilient. It is a great metaphor for the current Orange County housing market. It too is extremely strong and is at a powerful level that will endure for quite some time. The momentum and force of housing will push through the current pandemic and

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 Orange County Housing Report:

Dangers of Overpricing

September 21, 2020

In initially coming on the market, sellers who do not accurately price their home will likely net less at the  closing table.

Pricing

A key factor in selling a home quickly and for top dollar is to avoid price reductions.

When a home initially comes on the market, the price will determine a seller’s success. One of the most crucial steps in being able to sell quickly, open escrow, and obtain the highest possible net proceeds from the sell of a home is to carefully arrive at its Fair Market Value. Yes, the current market is a sizzling Hot Seller’s Market where homeowners are obtaining multiple offers that are remarkably close to their asking prices. In many

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Astonishing Spike

September 8, 2020

The luxury housing market not only bounced back from the initial shock of the Coronavirus, it has reached unprecedented levels.

 

Luxury Surge

A record number of luxury homes closed in Orange County in August. 

In Orange County, luxury closed sales in August, homes above $1.25 million, hit a record high of 561. The prior high occurred in July at 464 sales. Luxury closed sales has only topped 400 in May and June of 2017 as well as May and June of 2018. August’s 561 closed sales was 21% higher than July, and 54% higher than August 2019’s 364 sales. For the luxury range, over $1.25 million, year over year there were 197 additional closed sales, an unbelievable 54% more.

 Not only is

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Orange County Housing Report:

A Dive Into Housing’s Strengths

The housing market is firing on all cylinders and it appears as if the Autumn Market is going to be the hottest in years

 

Strong Fundamentals

With a low supply, fierce demand, low mortgage rates, and a strong demographic of first-time buyers, the housing market is on strong footing.

It is that time of the year. There are Halloween costumes at Costco. The kids are back in school, online for now. Mornings are a lot darker with the sun rising later. The official start to autumn is not until Tuesday, September 22, but signs are beginning to emerge that the seasons are about to change. 

As for Orange County housing, the Autumn Market typically starts at the end of August when

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