When was the bottom of the market in Orange County? Four Years Ago.

And if you’ve been waiting to buy, you’re in for a big surprise.

“The Orange County home inventory report from Thomas as of January 19 estimates that the local market’s speed quickened 12.6 percent in two weeks and quickened 32.7 percent in a year. He writes that Orange County’s homebuying year got off to a “staggering” quick start.”

Real Estate in OC is HOT! (Just ask anyone trying to buy a house right now.) The biggest frustration for our clients, whether buying a multi-million dollar equestrian estate in Orange Park Acres or purchasing their very first home?–Lack of inventory. In the last two weeks, we have put in offers on homes on the very first day on the market–at full asking price–and been outbid. That’s right–outbid.

Never in the history of real estate have we ever, EVER seen this combination of historically low interest rates and low prices. So, what will you be telling your kids, friends and family in 10 years when they ask you why you didn’t buy?

And if you’re considering selling, NOW IS THE TIME TO SELL!! Six months ago inventory in OC was over 8,000 homes. Today it’s just over 5,000. Inventory has dropped NEARLY IN HALF. And–this month saw increases in the average sales price per square foot in ALL prices ranges–million-plus are moving as well.

I understand that the national news still continues to publish the dire national numbers–but maybe now is the time to remember the golden rule of real estate–ALL REAL ESTATE IS LOCAL.

See the attached article from the OC Register… (you’ll have to read down a bit in the article to get the good news…)
http://ping.fm/Gro3u

Real Estate 2012: Many Positive Outlooks

There is a growing belief among many experts that 2012 will be the year housing turns the corner and starts heading in a more positive direction. Whenever we write a post like this, we unleash the hordes of critics who say… (Read full article here)
http://ping.fm/yIpn5

California home sales rise in December, posting 11-month sales high

LOS ANGELES (Jan. 17) – California home sales rose for the third consecutive month in December, marking the highest level since January 2011, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Sales also were up from a year ago, marking the sixth consecutive annual increase.

“With the economy slowly improving, home buyers – investors and first-time buyers alike – took advantage of affordable interest rates…
(Read the full article here….)
http://ping.fm/jPOo2

Rate on 30-year mortgage down to record 3.88%

The average rate on the 30-year fixed mortgage fell again this week to a record low. The eighth record low in a year is attracting few takers because most who can afford to buy or refinance have already done so.
Mortgage buyer… (Read full article here)
://www.latimes.com/business/la-fi-mortgage-rates-20120119,0,2765160.story

Weekly Mortgage Watch

Mortgage rates fell again into record low territory last week… (Read full article below)
http://ping.fm/M5rXY

In Real Estate, Keeping Current Matters!

There is too much misinformation being spread about today’s real estate market. Studies are being misinterpreted. Prominent names are being used to foster a point even if their quote is from years ago.
As an example, we want to look at a story published last week by The Fiscal Times titled The New American Dream: Rent, Don’t Buy. In the article, they claim: (Read full article here)
http://ping.fm/W5f6K

People Are Buying Homes AND GETTING MORTGAGES!

Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means… (Read full story here…)
http://ping.fm/NPuFW