Home Selling Markets at Orange County CA Get Balanced

IMAG0223 (Large)_optOrange County CA now sees balance in its home selling markets – with no advantage for either sellers or buyers.

While comparing the supply (the active inventory) and demand (the number of pending sales over the prior month) smart analysts can determine the EXPECTED MARKET TIME – or how long it would take to sell the current supply of homes actively listed on the market with current level of demand.

When the expected market time is below three months, it’s a sellers’ favored market.

In March 2013, the expected market time dropped to 1.1 months and Orange County housing strongly favored sellers – when there were only 3,183 homes for sale and demand was at 2,880 pending sales.

Cash was king during that time, and most homes got multiple offers and were selling in less a month.

Orange County CA home selling has slowed down since then, and EXPECTED MARKET TIME is now balanced at about 4 months. This balance will continue through the end of the year – and will not shift towards a pro buyers’ market – since some listings are being pulled off the market by 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 and best results in this balanced market.

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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 East Costa Mesa, Irvine, and Newport Beach homes and about listing and sale of your home 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.

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Are We Moving to New Normal at Orange County CA Home Selling?

Is this the New Normal at Orange County CA home selling?

IMAG0223 (Large)_optHome sellers at Orange County CA are no longer getting huge price appreciation, multiple offers, and highest selling prices.Orange County Property News

2014 has been different from both 2012 and 2013 when Orange County homes for sale flew off the market and prices were soaring.

Some buyers are now trying to time the market and expecting to see lower prices. However, these buyers are sitting on the fence without looking at the facts.

Orange County is still in a home seller’s market – and a sign is current expected market time at 3.3 months. Home selling is moving toward a new normal – which would be a balanced market of between four to five months average time from listing to sale.

Interest rate are still at historical lows. However, quantitive easing by the FED will end in October, and mortgage rates will fluctuate more then, and rates will go up. When mortgage rates go up, monthly payments will also go up, and buyer affordability will go down.

Buyers need to cash in on these amazingly low rates, which we might never see again. Home buyers who take advantage of today’s rates will look like the smartest people ever in a few years.

Number of homes for sale at Orange County will continue to drop for the rest of this year – as fewer homeowners choose to sell now that we have entered the Autumn, when familes are focused on schools, and the holidays are coming soon.

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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 East Costa Mesa homes and about listing and sale of your home 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.

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Newport Beach CA Home Selling Guide Starts Fall Season

Newport Beach CA home selling starts fall season with recap

Newport Beach CA has some amazing home seller and buyer opportunities as we start this year’s fall season 2014.

With luxury and expensive homes near Newport Harbor, Balboa Island, the canal, the Back Bay, and beaches – Newport Beach is a most popular location for residential living and investment.

Summer has ended with fall season started on September 22, 2014.

70 Newport Beach homes have sold during past 30 days – from August 22 to September 21 – at end of summer 2014.

$2,011,000 was average Newport Beach home sold price during this past 30 days – and average time on market for those sold homes was 108 days.

67 Newport Beach homes sold during same time last year – August 22 to September 21, 2013.

$1,793,000 was average sold price las year – and average time on market for those sold homes was 70 days.

So Newport Beach average home selling prices are up more than 12 percent during this time – end of summer 2014 as compared with end of summer 2013.

Newport Beach now has 344 homes listed for sale – with average list price of $2,753,000.

See Newport Beach homes for sale

By Harrison K. Long. 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. This is information from CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.

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

Newport Beach CA home selling starts fall season with recap

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3 Things to Know About East Costa Mesa CA Home Selling

3 things to know are special about East Costa Mesa CA home selling.

First – ECM residents love the geography and great weather.

East Costa Mesa is about a 3-square-mile area at South Orange County and borders Newport Beach on the south, Irvine Avenue on the east, Mesa Drive on the north and Newport Blvd on the west. It’s located about 2 miles from Newport Harbor and 3 miles from the Pacific Ocean and has lots of sunshine and some of the best weather anywhere.

Second – People are attracted to the ECM schools and neighborhoods.

People want the safe and friendly neighborhoods at ECM – with ocean breezes, bicycling on the streets, sports fields, recreation areas, and walking to restaurants and shopping.

ECM residents cherish their yards, and many plan to expand their living spaces while some have already completed that transformation. Homes are charming with many single-level style ranchers.

Third – East Costa Mesa home values and selling prices.

ECM home values have been on the upswing during the past 13 years, which makes homeowners happy.

72 East Costa Mesa homes are now listed for sale on the multiple listing service – with average asking price of $889,121.

21 East Costa Mesa homes sold during August this year 2014 – with average selling price of $880,714.

It’s amazing that the average list price is so close to the average selling price.

East Costa Mesa average selling prices are up 7.8 percent this year August 2014 vs. last year August 2013.

19 East Costa Mesa homes sold during August last year 2013 – with average selling price of $816,037.

Pricing your East Costa Mesa home correctly based upon real value and upon recent sales in your neighborhood is a most important consideration.

Buyers are looking more at prices this year and expect to pay fair market value relative to recent sales. Sellers are in control of most contract terms, and buyers have more influence on prices.

We’ll help you evaluate the market in your area and price your home to sell.

Coldwell Banker residential brokerage

By Harrison K. Long. 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 Corona del Mar and Orange County, CA.

Source of some information is CRMLS and is for homes sold by all brokers and agents. Contact us at 949-854-7747 with your questions about homes and property values at East Costa Mesa CA and Things to Know About East Costa Mesa CA Home Selling.

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East Costa Mesa CA Home Selling Market Trends

East Costa MesaEast Costa Mesa is a most-popular area for home buyers at Orange County – and is located just inland from Newport Beach and about two miles from Newport Harbor.

406 16th place, sold, 2014East Costa Mesa homeowners and residents cherish their neighborhoods, with flat and wide streets, friendly neighbors, single level homes, good access to public parks and recreational areas, and located close to good public schools.

 

  • 16 East Costa Mesa homes were sold so far from August 1 to August 28, 2014 – with average sold price of $825,593 – and average time on market of 76 days for those sold homes.
  • 17 East Costa Mesa homes were sold during same time last year 2013 from August 1 to August 28, 2013 – with average sold price of $798,115 – and average time on market of 53 days for those sold homes.
  • So East Costa Mesa home selling is a little slower this year in August, and selling numbers are otherwise about the same as last year 2013.

290 Magnolia, sold, 5-1-2014Investors and buyers have also liked East Costa Mesa real estate.

149 East Costa Mesa homes have sold so far this year – from January 1 to August 28, 2014.

Average sold price of 870,366, and average time on market of 65 days for those sold homes.

  • East Costa Mesa has now has 68 homes listed for sale – with average list price of $922,726.
  • 18.6 East Costa Mesa homes are being sold on average each month this year.
  • So it will take 3.65 months to theoretically sell all homes now on the market at current pace of selling.
  • This market still favors sellers, but it has been moderating in favor of buyers who now have more choices.

See East Costa Mesa homes for sale here.

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

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Contact us with questions about East Costa Mesa homes and about listing and sale of your home 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 properties at East Costa Mesa and Orange County CA.

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Now is a Great Time for Orange County CA Home Buying

Orange County CA now has more than 8,000 homes listed for sale, which is up about 35 percent from one year ago.  Home price appreciation has halted for now.  Buyers have lots of choices these days and room for positive negotiation in many situations.

So why are some Orange County CA home buyers waiting? They seem to be nervous and on the sidelines for what they believe will be a real buyers market where they will get the best deals.

But buyers should not wait. Purchase money mortgage loan rates are still low and hover around 4.1% for a 30-year fixed rate for those who qualify.

Number of homes for sale listings is way up from last year and first part of this year, and buyers have much better choices now.

However, with an expected market time to sell all homes now on the market is just over 3 months, the current Orange County home selling market still favors the sellers is not yet close to a buyer’s favored market.

Buyers are wishfully thinking and not using facts and real housing data while they wait to buy.

2014 is very different from last year 2013 when Orange County CA was a sizzling seller’s favored market – with homes flying off the market at almost any price.

Just because prices have gone way up does not mean that the market has shifted to a buyer’s market.

Orange County home selling markets are moving more towards a normal, balanced market where neither buyers nor sellers will be able to call the shots.

Today, it’s still a seller’s favored market with very little price appreciation. That means that homes will sell close to the most recent comparable closed sales and sellers will be able to control the terms.

Buyers need to look at the facts about the market and not wait!

 

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is Steven Thomas and his 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 Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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Buyers Like that Orange County CA Home Selling Price Appreciation Moderates

Good news for home buyers is that Orange County price appreciation is no longer in white hot territory.

Home sellers this year 2014 need to seriously consider the comps and what buyers are paying for homes.

Our Orange County real estate market has changed during 2014, and buyers are looking to pay fair market value.

More Orange County homes listed for sale are sitting on the market without buyers.

Average market time for OC home selling has gone up, and active inventory of listings has been up all year. 8,057 Orange County homes are now listed for sale, which is 2,535 more than were on the market same time last year (a 45 percent increase in listings this year).

Orange County price and values skyrocketed from 2012 to the end of 2013. Sellers priced their homes above recent sale prices and received multiple offers – sometimes selling for more than list prices.

That’s stopped! Buyers at the OC now want to pay at value relative to recent sales – and expect to pay “fair market value”.

Orange County home selling usually cools after the kids return to school, and we expect this to moderate further from Thanksgiving through start of the New Year 2015.

Buyers have better options this years and are looking for nice upgraded homes and real value. Sellers are no longer in complete control and need to price their homes correctly while considering recent comp sales, location, upgrades, and condition of the home.

Sellers should price their homes realistically and correctly according to value from the start of marketing time and then expect positive results.

We here to help you evaluate the market in your area and price your home to sell.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is ReportsOnHousing.com and is for homes sold by all brokers and agents.

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, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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Why Irvine CA Home Selling Has Changed 2014 Midyear Update

OLYMPUS DIGITAL CAMERAIrvine CA home selling 2014 midyear update shows shift toward balance and not favoring sellers as much as the market did last year.

Irvine home selling prices are determined with focus on recent comparable sales and fair market value.Irvine CA Midyear real estate update-b-

783 Irvine homes are listed for sale as of today (July 19, 2014) – an astounding number jump up of 108 percent since start of this year when 375 homes were listed.

Home selling at Irvine CA remains strong with prices up – while buyers now have more choices. Homes for sale are staying on the market about the same on average these days as compared with the first of the year (when average market time was 3.8 months).

5 Shade Tree, sold, 6-30-2014

Midyear Irvine average home sold prices at the following communities during June 2014 can serve as a guide for fair market value:

■Airport Area Irvine – 17 homes sold – average sold price of $581,815

■El Camino Real Irvine – 8 homes sold – average sold price of $615,825
■Northpark Irvine – 8 homes sold – average sold price of $942,050
■Northwood Irvine – 45 homes sold – average sold price of $754,731
■Oak Creek Irvine – 5 homes sold – average sold price of $641,500
■Portola Springs Irvine – 7 homes sold – average sold price of $755,826
■Quail Hill Irvine – 8 homes sold – average sold price of $780,846
■Shady Canyon Irvine – 2 homes sold – average sold price of $5,065,000
■Stonegate Irvine – 13 homes sold – average sold price of $704,219
■Turtle Ridge Irvine – 11 homes sold – average sold price of $1,490,727
■Turtle Rock Irvine – 10 homes sold – average sold price of $1,370,830
■University Park Irvine – 4 homes sold – average sold price of $917,250
■Westpark Irvine – 17 homes sold – average sold price of $631,135
■Woodbridge Irvine – 25 homes sold – average sold price of $637,252
■Woodbury Irvine – 17 homes sold – average sold price of $787,109
■Irvine CA all village areas – 237 homes sold during June 2014 – with average sold price of $808,452

OLYMPUS DIGITAL CAMERAIrvine CA real estate market now has a wider spread between average list price ($1,111,250) and average sold price ($808,452 during June 2014).

Irvine home selling is more balanced these days with sellers facing competition from other sellers.

Successful sellers will adjust to this market and consider carefully what buyers are looking for in the home, the neighborhood and fair market value.

By Harrison K. Long. Source of information is CRMLS multiple listing service and ReportsOnHousing, and OCRegister.com and is for homes sold by all agents and brokers.

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. Connect with us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

Find out here what your Irvine CA home is worth

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Vibrant Executive Style Residential Living at 3163 Watermarke Place – Irvine CA homes

Lovely GardenPrivacy and Security Emphasized at 3163 Watermarke Place.

 

Premium lot location on the peaceful Meditation Garden! 3163 WatBeautiful, upgraded Watermarke home with premium lot location on the peaceful Meditation Garden!

3163 Watermarke PlaceLiving room opens to dining area - high ceilings & wood floorsEnjoy this excellent, well-thought-out floor plan with open-concept kitchen, dining and living area.

 

 

 

Relax in spacious living room opening to patio and GardenAbundant natural light, volume ceilings and hardwood floors throughout.

 

 

 

 

Open-concept kitchen, dining and living area - high ceilings & cIdeal ground level location makes coming and going easy, with no steps to very close private parking space in gated garage.

 

 

 

Gorgeous kitchen with granite counters & stainless appliances inThis Carlton Arms upgraded home features a gorgeous kitchen with granite counters, white cabinets to ceiling, stainless steel appliances including 5-burner gas range, built-in desk & cabinets and crown molding.

 

 

Master bedroom view of tranquil Garden, trees & fountainSpacious master bedroom has views of the tranquil Garden, trees & fountain, plus walk-in closet, ceiling fan and new carpet.

 

 

 

Granite counters, extra cabinets and shower/tubAdjacent bathroom with granite counters.

Inside laundry room.

Private patio next to Garden.

 

 

Resort-style swimming pool, fitness center and Clubhouse at WateExperience the Watermarke resort-style life with amenities that include Clubhouse …

 

 

 

 

Schedule a party at the Clubhouse with the ConciergeConcierge service,

 

 

 

 

Workout at the fitness center next to the swimming poolsparkling pools and spas, fitness center, tennis and basketball courts,

 

 

 

 

Love-love. Tennis anyone!movie theater, game room, and business center.

 

 

 

 

Welcome to Watermarke, centrally located in Irvine and near NewpWatermarke is centrally located near the Irvine business center, Irvine Spectrum, Newport Beach, Orange County airport, UC Irvine, South Coast Plaza and easy freeway access.

 

 

3163 Watermarke Place

Home offered at $384,000 – CRMLS #OC14118459

Property presented and listed by Harrison K. Long and Christi Long – Realtors and professional real estate representatives – CAL BRE 01410855 – Coldwell Banker Residential Brokerage, Irvine and Orange County CA – 949-701-2515 (phone) – HKLong@cox.net

Coldwell Banker residential brokerage

By Harrison K. Long. We provide 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 with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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Private Transfer Fees Recorded on Homes in CA Must Be Disclosed to All Buyers

The real estate developer at Ladera Ranch at South Orange County and other areas in CA have imposed and recorded Private Transfer Fees that are required to be paid by all buyers (PTFs) each time the home is sold.

These PTFs require subsequent purchasers of real property to pay a fee to a private entity upon future sales of the property.

This is a recorded covenant running with the land.

CA Assembly Bill 980 was made law in CA on October 14, 2007, and defines disclosure and recording obligations regarding PTFs.

Private transfer fees (PTFs) are fees imposed by private parties that require the payment of a specified amount of money (usually a percentage of the sales price) upon subsequent sales of the real property. Such fees are normally recorded on new common interest subdivisions by the developer to pay either the developer or a third party entity (sometimes created by the developer).
PTFs could increase the cost for buyers to purchase a property. If a buyer discovers the existence of such a fee and that additional dollars must be paid in order to purchase the property, the buyer may choose to cancel the contract.

Source of information is the California Association of Realtors.

Coldwell Banker residential brokerage

By Harrison K. Long. We provide 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 with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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