by Vince Bindi on February 28, 2012
With Fixed Interest Rates at historic lows of around 4.1%, coupled with today’s home prices that are just about 50% below the peak in pricing in 2007′, this year may well be the bottom of the Orange County housing market, and the best time to buy a home in the past ten years. Back in 2007′ the Months of Inventory here in orange county was around 17 months, which is a very soft Buyer market to say the least. Today, the Months of Inventory has dropped 1.5 months, which is a strong sellers market. With the historiccally low intereste rates, depressed home prices, and a slowly recovering local economy, many buyers who were sitting on the fence since 2007′, are now taking action this year and buying homes (See below graph).
To add additional credence to this assertion, Warren Buffet stated this past Monday on CNBC, that (paraphrased) ”buying a home today with a 30 year mortgage is probably as an attractive as an investment you can make now”… a statement like this coming from Mr. Buffet is a very powerful endorsement indeed. He’s not the only one who has similar sentiments about the bottom of the real estate today… Below are some additional articles and news broadcasts from various other financial commetators and market watchers who are also calling a bottom (or close to a bottom) of the housing market this year…
If you would like to obtain more information about the local Orange County real estate market, or view all homes currently listed for sale, or contact a local real estate professional, fell free to visit one of Orange County’s premiere real estate firms their website at: eVantage Real Estate… or drop us an email at: Info@eVantageRE.com
by Vince Bindi on February 3, 2012
The following report is for standard sales and short sales in Mission Viejo . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property sales in Orange County. Currently, there are a total of 158 detached homes listed for sale in Mission Viejo , California. The median price of these active homes for sale is $549,000 and the average price per square foot is $268 . Of this total, 46 are short sale listings active for sale. These short sale listings represent 29% of the total inventory of detached homes for sale. The median price of these short sale properties is $499,000 and the average price per square foot is $249 .
Currently, there are 160 detached homes under contract in escrow, and the median price of these pending properties is $454,000 . Of this total pending properties, 102 are short sales, which is 64% of the total detached properties in escrow in Mission Viejo . The median price is $440,000 .
In the past 90 days, there have been a total of 166 detached homes that have sold and closed escrow in Mission Viejo . The median price of these sold homes was $489,000 and the average price per square foot was $245 . Of this total were 48 short sale properties, which was 29% of the total sales. The median price was $459,000 , and the average price per square foot was $224 .
For more information about short sale homes and condos, please visit our website at: Mission Viejo Short Sale Real Estate. To speak with a Short Sale professional, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.
by Vince Bindi on February 1, 2012
The following report is for standard sales and short sales in Newport Beach . This article is brought to you by the realtor experts at the Short Sales ASAP group, who are #1 in short sale property sales in Orange County. Currently, there are a total of 269 detached homes listed for sale in Newport Beach , California. The median price of these active homes for sale is $1,950,000 and the average price per square foot is $728 . Of this total, 21 are short sale listings active for sale. These short sale listings represent 8% of the total inventory of detached homes for sale. The median price of these short sale properties is $1,100,000 and the average price per square foot is $452 .
Currently, there are 60 detached homes under contract in escrow, and the median price of these pending properties is $1,295,000 . Of this total pending properties, 25 are short sales, which is 42% of the total detached properties in escrow in Newport Beach . The median price is $1,100,000 .
In the past 90 days, there have been a total of 96 detached homes that have sold and closed escrow in Newport Beach . The median price of these sold homes was $1,360,000 and the average price per square foot was $567 . Of this total were 4 short sale properties, which was 4% of the total sales. The median price was $950,000 , and the average price per square foot was $479 .
For more information about short sale homes and condos, please visit our website at: Newport Beach Short Sale Real Estate. To speak with a Short Sale professional, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.
by Vince Bindi on February 1, 2012
This Market Update is brought to you by the experts at the ShortSalesASAP group, who specialize in short sale negotiations, marketing and sales here in Lake Forest . This article will report the statistics for Active for Sale and Sold standard listing properties, as compared to short sales. Currently, there are 101 detached homes listed for sale in Lake Forest , California. The median price of these homes for sale is $500,000 and the average price per square foot is $266 . 34 of these active listings are short sales, which represent 26% of the total inventory of detached homes for sale. The median price of these short sale properties is $400,000 and the average price per square foot is $246 .
For homes under contract, there are 99 detached homes in escrow on this date, and the median price is $446,050 . Of this total, 69 are short sales in escrow, which is 70% of the total detached properties in escrow in Lake Forest , and the short sale median price in escrow is $422,300 .
In the past 3 months, there have been a total of 89 detached homes that have sold and closed escrow in Fullerton . The median price was $455,000 and the average price per square foot was $247 . Of this total were 32 were short sale properties in the city of Lake Forest in the past 3 months. This number of sold short sales is 36% of the total. The median price was $420,000 , and the average price per square foot was $233 .
If you would like more information about short sale real estate, feel free to click the following link to visit our website at: Lake Forest Short Sale Homes and Condos for Sale. To speak with a Short Sale Realtor, or to set an appointment, feel free to call: (888) 201-7066, or email us at: Info@ShortSalesASAP.com.
Short Sale Information,