Wednesday, May 24, 2017

Orange County Real Estate Market is Sizzling... But in What Price Points?



Orange County Housing Market Snapshot:







Wondering how the real estate market is really doing in Orange County.  Steven Thomas from Reports on Housing, latest report for April breaks it down nicely.  Below is a quick summary of what is going on with real estate in the county!!

  • The active listing inventory increased by 124 homes, or 2%, in the past couple of weeks, and now totals 5,387. Last year, there were 6,000 homes on the market, 613 more than today. 
  • There are 37% fewer homes on the market below $500,000 compared to last year at this time and demand is down by 22%. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly disappearing. 
  • Demand, the number of pending sales over the prior month, increased by only 1% in the past couple of weeks, adding 31 pending sales and now totals 3,012, above 3,000 for the first time since last November. Today’s demand is 6% lower than last year when it totaled 3,196. The average pending price is $876,996. 
  • The average list price for all of Orange County remained at $1.6 million. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end. 
  • For homes priced below $750,000, the market is HOT with an expected market time of just 34 days. This range represents 37% of the active inventory and 60% of demand. 
  • For homes priced between $750,000 and $1 million, the expected market time is 51 days, a seller’s market (less than 60 days). This range represents 19% of the active inventory and 20% of demand. 
  • For luxury homes priced between $1 million to $1.25 million, the expected market time is at 67 days. For homes priced between $1.25 million and $1.5 million, the expected market time is at 89 days. For homes priced between $1.5 million to $2 million, the expected market time increased from 116 to 134 days. For luxury homes priced above $2 million, the expected market time increased from 189 to 198 days. 
  • The luxury end, all homes above $1.25 million, accounts for 35% of the inventory and only 13% of demand. 
  • The expected market time for all homes in Orange County increased from 53 days to 54 in the past couple of weeks, a solid seller’s market (less than 60 days). From here, we can expect the market time to slowly rise throughout the Spring and Summer Markets, moving from a deep seller’s market to a slight seller’s market. 
  • Distressed homes, both short sales and foreclosures combined, make up only 1.5% of all listings and 2.4% of demand. There are only 34 foreclosures and 47 short sales available to purchase today in all of Orange County, that’s 81 total distressed homes on the active market, 8 fewer than two weeks ago. Last year there were 135 total distressed sales, 67% more. 
  • There were 2,663 closed sales in April, a 5% decrease over March 2017 and a 3% decreased over April 2016. The sales to list price ratio was 98.6% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales and short sales accounted for 1.4%. That means that nearly 98% of all sales were good ol’ fashioned equity sellers 


As you can see there are many different variables for the OC real estate market. Depending on your needs and location that will determine how these factors effect your selling or buying strategy. Don't hesitate to contact me to review what is happening in your neighborhood. 

What's Your Home Value?

Monday, May 22, 2017

Orange County June Calendar of Events!! Summer is here!!


With summer quickly approaching, what everyone loves about the OC, is made all the better with a variety of events throughout the county.  So get out enjoy the weather; better yet enjoy the community we live in!!

South Orange County Job Fair   June 1
Dress professionally and bring your resume. Priority registration table for veterans. 
9am-12pm / Laguna Hills Mall
949-341-8000 / www.oconestop.com

California Footvolley World Championship   June 2-4
Footvolley is an exciting new beach sport that combines rules from beach volleyball and soccer.
9am-5pm / Huntington City Beach
949-701-9986 / www.califootvolley.com

Hyatt Regency Newport Beach Jazz Festival   June 2-4
Celebrate the kick-off of summer with a star–studded lineup of musicians, delectable food and drink selections, and dancing on the lawn.
www.festivals.hyattconcerts.com

Jubilee of Gems: Game of Stones   June 2-4
Exhibits, raffle prizes, unique gems/rocks/ jewelry, Supplies & tools, geode cutting, food and grab bags. Presented by the North Orange County Gem & Mineral Society.
Fri 5-8pm, Sat/Sun 10am-5pm / La Habra Community Center
909-455-6800 / www.lahabracity.com

Russo & Steele Collector Automobile Auction   June 2-4
The electric atmosphere of auction in the round auction block provides enthusiasts an outstanding destination to bring the whole family to experience their passion of classic cars, but also the amazing community of Newport Beach.
9am-7:30pm / Newport Dunes Waterfront Resort & Marina
602-252-2697 / www.russoandsteele.com

World Music Series   June 2 & 9
Sunset Serenades with culturally unique musical concerts. June 2: Yuval Ron Ensemble featuring Bassem Rashidi (Middle Eastern). June 9: Marcela’s Noche de Flamenco (Flamenco music and dance).
6:30pm / Heisler Park, Laguna Beach
949-497-3311 / www.lagunabeachcity.net

GGNA Annual Neighborhood Meeting   June 3
Each year, the Garden Grove Neighborhood Association hosts a general neighborhood meeting for new and existing members. Meet and/or get to know your local representatives in an informal setting to discuss local issues that matter to you.
1pm / 12381 Meade Street    www.ci.garden-grove.ca.us

Corona del Mar Scenic 5K   June 3
Whether running the 5K course, participating in the 2-mile Celebration Walk, or simply cheering the kids on in the Youth and Dolphin Dash series, all registered participants are hosted to a complimentary restaurant row feast of local eateries.
6am / Ocean Blvd & Heliotrope Ave.
949-673-4050 / www.cdmchamber.com

Studio Arts Festival   June 3
The juried festival will showcase more than 85 Southern California artists and their original works of art in ceramics, sculpture, jewelry, painting, photography, fiber and glass.
9am-5pm / Irvine Fine Arts Center   www.cityofirvine.org

Jammin’ at the Jetty - Surfing for Conservation   June 3
Proceeds from the surfing competition will benefit the conservancy.
7:30am-2:30pm / Bolsa Chica State Beach, Huntington Beach
714-846-1114 / www.bolsachica.org

Be More Healthy Expo   June 3
Admission is open to the public. There will be over 60 exhibitors featuring demonstrations, massages, senior health, health screenings, a kids zone, free drawings and much more.
9am-3pm / Eisenhower Park, Seal Beach
562-799-0179 / www.sealbeachchamber.org

Dino Days   June 3-4
Experience the adventure as the Nature Park is transformed into Dino Days with life-size moving dinosaurs! Arts & crafts, a balloon artist, face painting, dinosaur displays, and much more.
10am-2pm / 26215 Dimension Drive, Lake Forest
949-273-6960 / www.lakeforestca.gov

Huntington Beach Concours d’Elegance   June 3-4
The Huntington Beach Concours has grown to be one of the largest automotive events in Southern California featuring domestic, British, European and Asian vehicles, vintage cars and modern automobiles and motorcycles.
8am-4pm / Huntington Beach Central Park
www.hbconcours.org

Balboa Island Parade   June 4
Children on Bikes, Island Dogs, Decorated Golf Carts and Floats, Vintage Cars, USC Marching Band, Keystone Cops, Drill Teams, Marching Bands, Local Dignitaries and much more! Come for the parade and stay for the after party with live music and dancing.
11am / Marine Avenue   www.visitnewportbeach.com

Super Pet Adoption Event   June 4
More than 40 pet rescue groups and animal shelters will bring some 600 homeless dogs, cats, rabbits and small animals for adoption. Pet-related vendors, gourmet food trucks, a silent auction, low-cost microchipping and an opportunity drawing.
10am-4pm / Irvine Animal Care Center   www.cityofirvine.org

Charity Golf Tournament   June 5
Banquet & award presentation for contests. In memory and honor of a loved one who believed strongly in family and in giving back to the community, the Leon Owens Foundation believes in reaching out to others with others for others.
9am-8pm / Alta Vista Country Club, Placentia
714-687-5520 / www.leonowensfoundation.org

Tustin Street Fair & Chili Cook-Off   June 7
The world’s largest one-day Chili Cook-Off, salsa competitions, craft booths, non-profit food vendors, commercial vendors, entertainment, kids area, music, family friendly contests, wine & beer booths, family plaza and carnival attractions. 
11:30am-6pm / Old Town Tustin   www.tustinca.org

Operation Surf   June 7
Opening Ceremony for Operation Surf Huntington Beach (June 6-12). This globally recognized surf program changes the lives of wounded military heroes, one wave at a time.
9-10am / Pier Plaza, Huntington Beach
805-544-7873 / www.amazingsurfadventures.org

Purina Pro Plan Incredible Dog Challenge Western Regionals   June 9-10
Dogs from all backgrounds competing for the title of IDC Champion in agility, freestyle flying disc, dock diving and more.
See website for schedule. / Huntington State Beach
www.proplan.com

Newport Beach Wooden Boat Festival   June 10
The free event is open to the public. Enjoy the marine art, People’s Choice awards for best-in-class vessels, delicious food, lively music and special activities.
10am-5:30pm / Balboa Yacht Club, Corona del Mar
949-673-3515 / https://newportbeachwoodenboatfestival.com

Mother/Daughter Par-Tea   June 10
The event will include a petite lunch, sweet treats, tea, games and more. Open to girls ages three through 13 years old.
1-3pm / La Habra Community Center   www.lahabracity.com

Cypress Concerts on the Green   June 10 & 17
Festival seating, picnics, families and lawn chairs encouraged. No seating setup allowed prior to 2pm Friday. Arts and Crafts will be available for children starting at 5:30pm.
6pm / Cypress Civic Center/Library/Tennis Courts
714-229-6780 / www.cypressca.org

Bride World Expo   June 11
Shop and compare 150 bridal salons, florists, photo booths, photographers, disc jockeys, wedding venues, invitations, honeymoons destinations, and the best wedding values.
10am-4pm / OC Fair & Event Center, Costa Mesa
800-600-7080 / www.brideworld.com

San Clemente Classic Car Show   June 11
The show boasts 300 quality show cars from classic to exotic and is free to the public. Activities also include a fun area for kids, food trucks, vendors, DJ entertainment and live band.
10am-3pm / Avenida Del Mar, Downtown San Clemente
949-279-9211 / www.villagesanclemente.org

Dachshund Races   June 11
Short-legged, but swift Wiener Dogs belly-up to the starting gate and race to the finish line.
3pm / Old World Village, Huntington Beach
714-898-5111 / www.oldworld.ws

Healthy Smiles Golf Tournament   June 14
An event that helps sustain our vital treatment and education programs. Not a golfer? Join us for dinner, purchasing a sponsorship, or donating to our silent auction.
12:30pm / Oak Creek Golf Club, Irvine
714-510-3846 / www.healthysmilesoc.org/golf

Chili at the Beach   June 17
A chili cook off and salsa tasting benefiting the Boys and Girls Club of Huntington Valley. Enjoy live entertainment, kids activities, and street vendors selling the perfect Father’s Day gifts, and an Art Walk silent auction fundraiser.
11am-5pm / Downtown Huntington Beach
714-536-8300 / www.hbdowntown.com

Fete de la Musique   June 17
Held in conjunction with “World Music Day” to celebrate the coming of summer each June. The festival is celebrated worldwide on, or near, the beginning of summer. Promotes Laguna Beach performing arts through live music.
1-4pm / Downtown Laguna Beach
949-492-0883 / www.lagunabeachsistercities.com

Newport Beach Art Exhibition   June 17
The event gives the community the opportunity to view and purchase the art on display, mingle with the artists and enjoy a festive atmosphere of music, wine and food.
1-6pm / Newport Beach Civic Center
949-717-3802 / www.newportbeachca.gov

Father’s Day Fine Art   June 17-18
Hosted by Dana Point Fine Arts Association.
9:30am-5pm / Dana Point Harbor
www.danapointfinearts.org

San Juan Summer Nites   June 21
Our free concerts feature live music, dancing, youth activities along with a business expo. Great food is available for purchase by local restaurants or food trucks on site.
6-8pm / Historic Town Center Park, SJC
949-493-1171 / www.sanjuancapistrano.org

Fountain Valley 60th
Anniversary Parade & Fireworks Show   June 24
The City of Fountain Valley was incorporated in 1957 as the 21 city in the County of Orange. This year we look forward to celebrating the fantastic community spirit which makes the City of Fountain Valley such a nice place to live!
Parade: 9-11am / Heil Avenue, Fireworks 8-9pm / Recreation Center & Sports Park
714-593-4449 / www.fountainvalley.org

OC Pride - “As One”   June 24
OC Pride LGBT Parade and Festival. This event celebrates Orange County’s LGBT community for the opportunity to gather and show their pride. Along with a parade, exhibits and a variety of events, Billboard Dance Club Chart DJ – Nytrix will be headlining the Official “As One” Closing Party.
9am-6pm / Downtown Santa Ana   www.prideoc.com

Los Alamitos Music and Movies   June 24
Enjoy four different Saturday nights of live music and an outdoor movie that is free to the community. Tonight’s movie is the “Secret Life of Pets” with 80’s rock music by Centerfold.
6:30pm / Laurel Park   www.cityoflosalamitos.org

Aliso Viejo City “Sweet 16” Anniversary Party   June 24
Our 16th anniversary of cityhood! Residents will enjoy a variety of activities including free swim, lawn and board games, contests, music, inflatable amusements, food, and more! Admission is free, with nominal fees for food.
12-3pm / AV Aquatics Center    www.cityofalisoviejo.com

Doheny Surf Festival   June 24-25
Join us for a celebration of the Southern California surfing life style at our Doheny Surf Festival. This is a FREE event (other than parking admission to the park).
10am-6pm / Doheny State Beach, Dana Point
949-496-6171 / www.dohenystatebeach.org

If moving is one of your summer plans, give us a call. We will do the work so you can sit back and enjoy these events.    

Monday, May 15, 2017

Orange County April Real Estate Snaphot

If you are hearing the news lately there are confusing reports, Inventory is low, prices are increasing, inventory is growing, etc.  Orange County is a pretty big county so it is important when reviewing the market, that home sellers and buyers narrow down the area that is specific to their needs and use the overall county numbers as a guideline.

Below is a look how the real estate market performed in April for all of Orange County from the Association of Realtors.

Orange County Detached Home Sales April 2017

Orange County April Detached Single Family:
  • The median price in April of a detached home in Orange County was $775,000 and that is just over 4% from April 2016.
  • The Average Sales Price was $1,033,391 was up 11%, which means more higher end homes are selling.
  • Currently there are just over 3 months of Inventory.
  • Number of new listing is down 10% from last year.


Orange County April Attached Home Sales:
  • The median price in April of an attached home in Orange County was $467,000 and that is up just over 4% from April 2016.
  • Currently there is less then  2.5 months of Inventory.
  • Number of new listing is down 6% from last year.

Search Available Orange County Homes

In summary the April market remained very tight driving up pricing overall. Home Buyers would benefit with more homes coming on the market. Move up sellers have a real opportunity to get top dollar for their home as interest rates remain low

What's your Orange County Home Value?

If you are thinking of a move, don't hesitate to contact Chuck to review the current market and set a strategy in place that brings you top dollar for your home.