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…

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…

 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…

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…