Fantastic Home Value at 13621 Fairmont Way, Tustin, CA

Fantastic home value at 13621 Fairmont Way

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Featured home for sale – and real value for buyers opportunity at 13621 Fairmont Way, Tustin, CA

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Large detached SFR home with 4 bedrooms and 2.5 baths – more than 2,800 SF of interior living space.

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Expansive kitchen opens toward back yard.

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Enormous back yard (with lot size of 7,200 SF) for fun family activities, gatherings and entertaining.

Master bedroom suite

Master bedroom suite

Open house house for visitors on Saturday afternoon, June 4, 2016

Huge 4th bedroom or bonus room

Huge 4th bedroom or bonus room

MLS #OC16091373

Family great room with fireplace

Family great room with fireplace

See this home and recognize real value opportunity.

Large comfortable kitchen

Large comfortable kitchen

Contact us by email, cell or text at 949-701-2515 for a showing or details about this home.

Harrison K. Long, Realtor and agent for seller – CALBRE 01410855 – Realtor and broker associate at HomeSmart Evergreen Realty, Orange County, CA.

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Eastbluff at Newport Beach Home Selling Market Update

Eastbluff at Newport Beach

Eastbluff Park and walking paths

Eastbluff Park and walking paths

 

 

Eastbluff at Newport Beach is a residential community located on the East side of the Upper Newport Back Bay and west of Jamboree Road.  Eastbluff has both single family detached homes and also the popular “Bluffs” homes – most of which are attached.

 

Easbluff with Back Bay views

Upper Back Bay views from Eastbluff homes

39 Eastbluff homes sold during second half of this year – from July 1 to December 18, 2015.

29 of those were condominium or attached single family homes – which had average sold price of $972,836.

$1,375,000 was highest sold price of a Bluffs home at 2129 Vista Entrada.

10 of those sold homes were detached single family homes – with average sold price of $1,861,000.

$3,775,000 was highest sold price of an Eastbluff Newport Beach detached home at 900 Cercis Place.

Eastbluff at Newport Beach is a very popular location for residential living and investment – Live at Newport Beach

See Bluffs homes at Newport Beach homes for sale

See Eastbluff single family detached homes for sale

Newport Beach CA is a destination for home buyers and travelers who are romanced by opportunities at Newport Harbor, Balboa Island, the canal, Newport Center, Fashion Island, Lido Island, Balboa Peninsula, the Bluffs, Upper Back Bay, Newport Heights, and beaches with amazingly beautiful surf and sand.

Balboa Island – homes now for sale

Lido Island – homes now for sale

Newport Heights homes for sale

Newport Beach homes for sale

By Harrison K. Long.  Professional REALTOR® agent and broker representation – with help for property owners, investors, home sellers, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.  

CONTACT US here

Contact us at 949-854-7747 about Newport Beach CA homes and prices.

“Eastbluff Homes at Newport Beach Selling Market Update – December 28, 2015”

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7 Top Reasons to Buy a Home Now

Orange County CA people who are renting or leasing homes are very often considering to buy.

7 Top Reasons to buy now

Here are “7 top reasons to buy a home now”.

 

house in hand

First:  High Rents.  Rents are high and will go higher each year.  Unlike rent, your fixed rate mortgage payments won’t go up over time.  Your property taxes and insurance payments will increase.  However, in California we have Proposition 13, which limits the rates at which property taxes can be increased.  If you are careful to find a good home insurance policy, that might help you with good rates.

Second:  Low interest rates.  Mortgage interest rates are at historic lows now.  But the Federal Reserve is expected to increase these rates before the end of the year.  As rates go up from 4.125 percent (where they are today) to 4.3 percent and beyond, monthly payments on new mortgages will go up and purchasing power will decline.  Buying now, while you can lock in today’s low rates, can save you lots of money over the lifetime of the loan.

Third:  Equity ownership.  Rent payments are money spent and gone, but mortgage payments are investments.  With each house payment you build equity in your home.  As the interest portion of the payment declines, the principal part of the payment increases and your equity ownership goes up with that.

Fourth:  Favorable return on investment.  During temporary housing market ups and downs, real estate has experienced long-term, stable growth in value.  The average appreciation rate for median-priced homes in the Golden State has been around four percent each year for the past 15 years.  So you can invest and pay 4 percent annually and puts a roof over your head at the same time.

Fifth:  Flexibility.  The home you buy is yours.  You can decorate it to suit your tastes and remodel it for your When you decide to upsize or downsize, you can sell your home and use the proceeds as a down payment on a new replacement home.

Sixth:  Wealth accumulation.  An article in the New York Times stated that home ownership is the best way for people who have not inherited wealth to build it and that building equity in a home can be a ready-made savings plan.  And when you sell your home in California, up to $250,000 (and up to $500k if married and filing jointly) in capital gains may be excluded from federal income tax liability.

Seventh:  Long-term stability.  Home ownership has a significant positive impact on net worth, educational attainment, civic participation, and quality of life.  Buying, owning, and staying put allows you and your family make things solid for your lives, establish lasting friendships, and help realize the American Dream of home ownership.

By Harrison K. Long.  Source of information is an article by Sherri Butterfield at the   Orange County CA Association of REALTORs®. 

“7 Top Reasons to Buy a Home Now”

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East Costa Mesa Home Selling Update Shows Sellers’ Market

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It’s now a market that favors home sellers at East Costa Mesa CA.

Home Selling Market Update for Labor Day 2015 shows solid buyer activity.

East Costa Mesa presents real opportunity for home buyers and is one of the most popular areas for residential living and investment at Orange County CA. 

 

23 East Costa Mesa homes sold with closed deals last month – August 2015 – and average sold price for those homes was $917,637.

37 East Costa Mesa are now listed for sale with the CRMLS multiple listing service – with average list price now at $1,166,000.

27 East Costa Mesa homes are now under purchase contracts with buyers – in backup and pending status on the multiple listing service – and these have average asking prices at $982,000.

This large number of homes now under purchase contracts shows that home buyers have been very active at East Costa Mesa during the past 30 days.

Average time on market from listing to sale of homes at East Costa Mesa is now less than 2 months (the time it would theoretically take to sell all homes on the market at current pace of sales) – so East Costa Mesa is market that favors sellers.

People seek out East Costa Mesa, because of its fantastic weather, lots of sunshine, friendly and safe neighborhoods, award-winning schools, and location near Newport Beach Upper Back Bay and Newport Harbor.

Find out for free what your home is worth

 

 

See East Costa Mesa CA homes now listed for sale – click here

See Costa Mesa single level homes now listed for sale – click here

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.  We provide professional REALTOR® and broker representation for home and property owners, buyers and investors – for their best decisions about real estate.  Contact us to find out more about East Costa Mesa homes and real estate.

“East Costa Mesa Home Selling Update Shows Sellers’ Market”

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Orange County CA Home Selling Prices At Top Since 2007

IMAG0223 (Large)_optOrange County CA median selling prices were up to $629,500 for June 2015, which is the post-recession high.

Buyer confidence, rising employment, rising rents, tight supply of homes, low mortgage rates, improved economy and low unemployment, helped jack up sales and prices to highest point since 2007.

Orange county home selling prices

OC home prices, 7-17-2015
3,831 houses and condos were sold during June 2015 – the most for any month since June 2006.

Median selling price – the price at the midpoint of all sales – hit $629,500 during June 2015, which is just 2.4 percent below the record price of $645,000 during June 2007.

Buyers seemed to jump at the chance to lock in especially low rates during April and May, and those sales closed during June.

The OC economy has seriously improved with construction, wholesale, manufacturing, technology, education and government sectors having job growth and high wages.

However, it’s still very challenging for buyers.  Inventory of homes for sale averaged 11 percent below 2014 levels, nearly 800 homes, from April through early June 2015.

Sales of existing houses and condos were up 18.7 percent in Orange County during June 2015.  But it was continued declining of new home sales, with homebuilder transactions down 5.1 percent year over year.

Prices were up in 63 of 83 Orange County ZIP codes, the biggest gains occurring in Newport Coast. Sales were up in 58 ZIP codes.

The hot-selling new home community of Baker Ranch propelled Lake Forest to No. 2 in sales gains. Transactions in that city were up 57 percent to 116 deals in June.

By Harrison K. Long – CA real estate broker, professional real estate representative, Realtor at Orange County CA – CAL BRE 01410855.  Source of some information is CRMLS multiple listing service and OCRegister.com.

Contact us for more information or call us at 949-701-2515.  Thanks.

“Orange County Home Selling Prices At Top Since 2007″

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Millennials in California Value Home Ownership

Millennials in California value home ownership.  A new survey by the CALIFORNIA ASSOCIATION OF REALTORS® was designed to evaluate the millennial generation’s attitude toward home ownership.

MillennialsLookingTowardHomeownership, 11-19-2014Respondents were asked questions about different things from effect of the recession on their attitude toward home buying to what they look for in a home, and their biggest concerns about home buying.  This online survey polled 1,000 CA residents aged 18 to 34, and here are some of the findings:

  • Though nearly two in 5 millennials (49%) live with parents, 93% plan to buy a home.
  • More than half gave home ownership an importance rating of of 8 or higher on a scale of 1 to 10 – with 1 being not at all important and 10 being extremely important.
  • Millennials don’t tie home ownership to a life event, but instead to years; they plan to buy in 5 yeas rather than when they marry or have children.
  • More than half (59%) said the housing crisis didn’t affect their attitude toward home ownership being a good investment.
  • Majority of those surveyed were uncertain or doubtful they could obtain a mortgage now; 45 percent said they were not sure, while 33 percent said they would not be able to do so.
  • 67 percent rent because they cannot afford to buy a home.
  • 45 percent cited high home prices and affordability as their main concerns about home ownership.
  • Millennial’s top reasons for home buying are freedom to do what they want with their property, privacy, and satisfaction of ownership.
  • 57 percent think that location in home buying is most important, above the neighborhood, home features, and walkability, among other things.
  • 67 percent plan to purchase a single-family detached home.
  • 42 percent want a lot of land, and 41 percent want to live in the suburbs.
  • The young group aged 18 to 26 find privacy important, while older millennials aged 27 to 34 find equity important and see home ownership as an investment.
  • Of those currently renting, 36 percent would be motivated by affordable home prices to buy now.
  • 16 percent said they would be motivated to buy by having the down payment necessary to purchase.

Millennials want home ownership

By Harrison K. Long, real estate broker, Realtor, professional real estate representative and attorney at Orange County CA.  Source of information is the CALIFORNIA ASSOCIATION OF REALTORS® magazine, February 2015. 

Coldwell Banker residential brokerage

 

 

We provide professional real estate agent and broker representation – help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and the home selling and/or buying process at Orange County CA cities and areas.  ~  “Millennials in California value home ownership”.

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Ladera Ranch CA Home Selling Market Update January 2015

Ladera Ranch is an exciting area for residential living and investment – located in the foothills of South Orange County CA near Saddleback.

Ladera Ranch was developed with most homes built between 1995 and 2005.

It’s divided into nine residential “villages” –  Oak Knoll Village, Bridgepark, Flintridge Village, Township, Wycliffe Village, Echo Ridge Village, Avendale Village, Terramor Village, and Covenant Hills Village.

Buyers were busy at Ladera Ranch last year 2014 when 532 homes were sold – with average sold price of $727,341.  This includes range of homes from comfortable one bedroom condos to expansive estate homes in Covenant Hills.

2015 started well for Ladera Ranch home sellers who priced according to value  and compared to what other homes in the area have sold for.  Average selling price of all Ladera Ranch homes continues to be about $720,000.

Source of information is CRMLS multiple listing service and is for homes sold by all brokers and agents.

By Harrison K. Long, real estate broker, Realtor, professional real estate representative and attorney at Orange County CA.

Coldwell Banker residential brokerage

 

 

We provide professional real estate agent and broker representation – help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  

Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates – Ladera Ranch CA Home Selling Market Update.

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5 Top Reasons Orange County CA Homebuyers are Buying Now in December 2014

5 Top Reasons Orange County CA Homebuyers are Buying Now in December 2014

Orange County home buying-b-

1.  Astonishingly low mortgage interest rates give buyers more buying power – the ability to buy more home for the money!  Today’s average 30-year fixed rates are under 4%, which is historically low.  These low rates give buyers a window of opportunity.  The Federal Reserve said it is planning to increase the federal funds rate next year, and that is when interest rates will increase.  

2.  Average time to sell a home at Orange County has increased, which allows buyers the opportunity to be patient and negotiate.

3.  Buyers have a bigger selection of homes now to choose from.  Inventory of homes for sale in Orange County is higher than same time last year.  

4.  Buyers have less competition from other buyers during December and winter months.  Homeowners who place their homes on the market during the holidays and winter months tend to be more serious about selling.    

5.   Increased buyer incentives for Chinese business travelers and tourists – The U.S./ China visa agreement took effect last month and will allow multiple entry visas spanning 10 years for business travelers and tourists and five years for students.  This new visa policy is expected to encourage overseas buyers to invest in real estate at Orange County.

It’s not surprising that buyer demand for Orange County homes has increased 16%  as of December 1, 2014, as compared to same time last year during 2013.

Coldwell Banker residential brokerage

 

 

By Harrison K. Long.  Source of some information is CRMLS multiple listing service ReportsOnHousing.com. 

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

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Top 6 Reasons to Buy a Home Now

Top 6 Reasons to Buy a Home Now

cheaper to buy than rent, truliaTo take advantage of near-record low mortgage interest rates and home prices undervalued by as much as three percent nationwide, now is a great time to buy a home.

There are still some great home buyer opportunities.

Why now is a best time for buyersThe economy is growing. From information gathered on or before August 22, 2014, the Federal Reserve’s “Beige Book” report found economic activity is up in all eight national districts, including consumer spending, freight loads for deliveries of goods, and more. But there are even better reasons to buy a home right now, and here are just a few:

More jobs are available

The Labor Department announced that the jobless rate is now below six percent. Consider how far the job market has come since January 2010 when unemployment was 9.7 percent.

Houses hedge against inflation

The Consumer Price for All Urban Consumers is up 1.7% from August 2013 to August 2014, excluding volatile food and gas prices. The food index has risen 2.7 percent over the span, while the energy index has increased 0.4 percent. This is the first month that the index hasn’t risen since 2010.

Why is that good for homeowners? Even in a tepid inflationary environment, when prices rise, a major asset such as a home, purchased at a fixed cost, becomes more valuable. Typically, in an inflationary environment, housing prices rise.

Housing price gains are slowing

The median existing-home price in August was $219,800, which is 4.8 percent higher than home prices in August 2013. This marks the 30th consecutive month of year-over-year price gains. In 2013, home prices rose in the double digits.

Mortgage interest rates are still low

According to Freddie Mac’s archives, the lowest that mortgage interest rates have been in modern history (since 1971) was in November and December 2012 at 3.35 percent with 0.7 points for a benchmark 30-year, fixed-rate loan, and that was back in 2012 before the housing recovery began in earnest. The most recent Freddie Mac survey found national averages at 4.16 percent with .05 percent points in September 2014.

Pent-up demand ready to release

Household formation has been muted since the Great Recession, preventing as many as 2.5 million people from forming households who otherwise would have. Economists with Harvard’s Center for Joint Housing Studies predict that annual U.S. housing starts should average 1.4 to 1.5 million over the coming decade. Considering that the largest generation ever –81 million Echo Boomers — are well into renting and homebuying age, the numbers should be closer to the 2.3% annual growth of the 1970’s, when 78 million Baby Boomers reached adulthood.

Buy VS rent ratios favor homeownership

Trulia, a real estate marketplace and research group announced that nationally, rents rose 6.5% year-over-year in September 2014. Apartment rents were up 6.9%, while single-family home rents gained 5.2%. At the same time, housing prices have leveled off.

The takeaway

A housing market never remains even. There are always surges and dips. Buyers could wait for better market conditions, but the present alignment of low mortgage interest rates, slowing home prices, rising rents and pent-up demand add up to great reasons to buy a home right now.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of information is Property ID.

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

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Orange County Buyers Should Take Advantage of Unbelievably Low Mortgage Rates

Purchase money lendingWith interest rates dropping to their lowest levels since June 2013, now is a great time to buy a home at Orange County CA.

Current rate drop to about 4.03% for 30-year fixed rate mortgage (for those who qualify) is a big savings for buyers on a monthly basis.

Home loan rates are fantasticRates are a lot lower today than they were at the beginning of this year 2014 – and are now at their lowest level since June 2013.

The FED has been printing money for years by funding the secondary market and purchasing mortgage back securities. The FED has held the Federal Fund Rate at almost ZERO for over five years. Lenders are essentially charged next to nothing to borrow money and are able to pass along this savings in the form of unbelievably low interest rates.

But that won’t last forever. The FED is ready to eliminate the economic stimulus. The FED is looking to keep a lid on inflation and increase the Federal Fund Rate in about six months. That’s where we will see a change in interest rates. As the Federal Fund Rate increases, banks’ profitability is squeezed, and lenders will raise their rates to home buyers and those who refinance.

In about six months – or about April 2015 – pressure is expected to rise on interest rates.

Don’t wait! Lock in your great mortgage loan rate now. There is no better time than now to buy your Orange County home and lock in the great rate.

Orange County CA how has 7,174 homes listed for sale, which is 841 more than same time last year. The expected average market time for all of Orange County CA is at 3.24 months now – or 97 days – now a balanced market that does not favor buyers or sellers.

Sellers at Orange County CA need to make sure they are pricing their homes correctly from the start, so they can get real buyer attention during this balanced market.

By Harrison K. Long – Source of some information is CRMLS and ReportsOnHousing and is for listings and sales by all agents and brokers.

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Contact us with questions about Orange County CA homes, home buying and selling opportunities at Orange County CA. ~ Professional REALTOR® agent representation and help for home and property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of homes and properties at Orange County CA.

 

Posted in Home buyer guide, Home buying deals, Mortgage loan rates, Orange County CA, Orange County home buying, Orange County home values, Orange County Living, Orange County real estate, REALTOR® | Tagged , , , , , , , , , , , , , , | Leave a comment