April 2014 RSS Feed

In March, the number of properties that received a foreclosure filing in San Clemente, CA was 47% higher than the previous month and 18% lower than the same time last year, according to RealtyTrac.com.

San Clemente CA Foreclosure Trends

In March 2014, Pre-foreclosure activity increased 38.5% compared to the previous month and increased 80.0% from the previous year. Auctions climbed 75.0% from the previous and dropped 66.7% from the previous year. Bank-owned properties increased 50.0% from the previous month and 0.0% from the previous year.

San Clemente CA Foreclosure Status

Pre-foreclosures accounted for 64.3% of foreclosure activity in March 2014, Auctions were 25.0% and Bank-owned properties were 10.7%.

San Clemente CA Foreclosure…

In March, the number of properties that received a foreclosure filing in Orange County, CA was 14% higher than the previous month and 9% lower than the same time last year, according to RealtyTrac.com.

Orange County CA Foreclosure Status

Pre-foreclosures accounted for 53.7% of foreclosure activity in March 2014, Auctions 33.0% and Bank-owned properties 13.4%.

 

Orange County CA Foreclosure Geographical Comparison

Orange County CA foreclosures were 0.01% below national statistics and 0.3% below state figures in March 2014.

Orange County CA Foreclosure Activity

Pre-foreclosure activity increased 6.5% in March compared to the previous month and increased 22.6% compared to the…

Recent articles published by RISMedia highlighted surveys of homebuyers done by others concerning the most important features buyers are looking for in a home. Below is a blend of the highlighted surveys by the National Association of Realtors, National Association of Home Builders and Realtor.com.

•    Energy Efficiency is the top priority for a majority of homebuyers. This includes a range of items including: energy-star rated appliances; energy-star rating for the entire home; energy-rated windows; and ceiling fans.

•    Homes suited for the next 15 years are a higher priority than it used to be. Just 5 years ago, the duration desired was 10 years. This, of course, ties in with energy efficiency. It also ties into…

•    Overall affordability, and ability…

The San Clemente Real Estate Report below reflects the number of resale single family residences and condos as well as new homes selling in San Clemente. Also reflected is the % of change from 2013.

San Clemente Real Estate Market Trends - March 2014

San Clemente	Median Price	Change From 2013	Homes Sold	Change From 2013
San Clemente - 92672	$729,000	+13.6%	33	-36.5%
San Clemente - 92673	$676,750	-12.7%	36	-29.4%

The Orange County CA Real Estate Report below reflects the number of resale single family residences and condos as well as new homes selling in Dana Point, Laguna Beach, Laguna Niguel, Mission Viejo, San Clemente and San Juan Capistrano. Also reflected is the % of change is from the same month last year.

Orange County CA Real Estate - March 2014

Orange County Community	Median Price	Change From 2012	Homes Sold	Change From 2012
Dana Point - 92624	$787,000	+64%	8	-38.5%
Dana Point - 92629	$720,000	+9.9%	35	-23.9%
Laguna Beach - 92651	$1,760,000	+23.5%	35	-14.6%
Laguna Niguel - 92677	$642,500	+19.0%	96	-2.0%
Mission Viejo - 92691	$540,000	+14.3%	44	-15.4%
…

The California Association of Realtors closely monitors and analyzes trends in the residential California real estate industry. The table below contains the latest reported existing home sales series, median home prices, unsold inventory index, median time on market, first-time buyer housing affordability index, and the latest mortgage rates.

 

Home ownership is one of the easiest ways of building wealth that’s available to the general public, non-investors, and average middle-class Americans. Part 1 and Part 2 contained Rules #1-7 and explained that buldling wealth is not about quick profits but steadily increasing your wealth over time. Below, we continue with rules #1-10

Rule # 8: Be careful about the costs of home improvements.

Typically, most improvements do not increase your home’s value dollar for dollar. That does not mean they aren’t worthwhile. Just understand they are not always building wealth. There is a difference between making improvements to enhance living and enhancing property value. Most improvements are a combination of both.

Here’s an example. Let’s say you want to add…

Part 1 of this series explained building wealth through home ownership is not about quick profits! It’s about steadily increasing your net worth over time.

Orange County home ownership is one of the easiest ways of building wealth that’s available to the general public, non-investors, and average middle-class Americans. Part 1 contained Rules #1 thru #4…

Rule # 5: Understand the difference between paying costs of living and paying toward wealth building.

Costs of living contribute nothing to wealth building. Examples of these are property taxes and  insurance, utilities costs, mortgage interest, etc.

Some of these costs are hidden when you rent because the landlord pays them. Utilities are costs you pay. In both cases, once they are paid, the money is gone.…

This article is not about quick and easy profits! True wealth building rarely is. It’s about steadily increasing your net worth over time. It is not about speculative investments to get rich quick. It’s about how to build meaningful wealth while enjoying your home.

There are many variables and moving parts to the home ownership puzzle. But, it’s not brain surgery either. Home ownership is possibly the most accessible means of building wealth that is available to the general public, non-investors, and average middle-class Americans. Here’s how to make it work…

Rule # 1: Consider the “5-year Rule” before you decide to buy.

Don’t consider buying a home unless you plan to own it for at least 5 years. That is because the wealth building cycle starts very slowly…

Buying Is 38% Cheaper Than Renting.

That statement reflects Trulia’s latest Winter 2014 Rent vs. Buy Report. “Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting.”

When evaluating buying an Orange County home vs. renting you need to understand the local math. Although the national average is 38% cheaper for buying vs. renting, the range across the country is from 5% cheaper to 66% cheaper.

The Trulia report concludes that there is nowhere in the US that buying a home is not cheaper than renting. However, the percentage of difference does vary widely. That is because there are variables that depend on local circumstances such as:

•    Local home values
•    Local rents
•    Mortgage…