Buyers Today's Rates are a Gift, waiting for You!

Whether you believe this "#" is a "hashtag" or a "pound" sign, the information and chart below will be of interest to all.  Believe it or not, the historically low interest rates we have enjoyed for many years are still historically low by comparison at right around 4%, where we are today and they really are a true gift!

If you think the symbol is a hashtag, then you may think these historically low interest rates are here to stay because you haven't been through what the pound sign people have.  For the pound sign people, this may bring back some not so good memories, but at least they are aware that interest rates can and will fluctuate.  The graph below shows some historical interest rate time periods and the impact rising interest rates can have on your monthly loan payment.  

My point is, the chance of interest rates going down from where they are today are slim to none.  In fact, the interest rate forecast by Kiplinger predicts the feds will probably take the interest rates up in December and two or three more times in 2018.  

If you are currently renting and plan on living in California for the next 5 years or more then consider this. 

• For the past 5 years, homes have increased in value by an average between 5-6% per year in Orange County. 
• Renters receive no benefit from these increases from an investment or tax deduction standpoint
• Monthly rents in OC keep sky rocketing at each renewal.  
• Finally, as mentioned above, there is a good chance interest rates are only going to go up.

Here is my question, if you haven't spoken to a lender in the last year or two and want to be a home owner, what are you waiting for?  No one, except cash buyers can buy a home without a pre-approval letter.  Lenders have great programs to help get people get into a homes even if you don't feel you have enough down payment or your credit is not the best. At a minimum they will guide you with what to do so you can get that pre-approval letter.  

If you need some recommendations on some great lenders I have worked with or you are already pre-approved and need help with locating the perfect home for you, please give me a call.  I would love to help in either case.  

If you need some recommendations on some great lenders I have worked with or you are already pre-approved and need help with locating the perfect home for you, please give me a call.  I would love to help in either case.  

Orange County Fall Real Estate Market

The real estate market in Orange County typically see's a slow down in Fall. Yet we continue to see strong buyer demand for homes.  Though we have low inventory, that doesn't mean there is not opportunity out there for buyers.   In fact, in Fall we typically see home prices drop.  As those homes where the seller over priced are now ready to negotiate.  Below is a summary of the overall market in Orange County

• The active listing inventory decreased by 146 homes in the past couple of weeks, and now totals 5,493. The trend is down for the remainder of the year. Last year, there were 6,786 homes on the market, 1,293 more than today.
• There are 43% fewer homes on the market below $500,000 today compared to last year at this time and demand is down by 28%. 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, decreased by 104 homes in the past couple of weeks, down 4%, and now totals 2,825. The average pending price is $847,650.
• For homes priced below $750,000, the market is HOT with an expected market time of just 41 days. This range represents 38% of the active inventory and 62% of demand.
• For homes priced between $750,000 and $1 million, the expected market time is 57 days, a hot seller’s market (less than 60 days). This range represents 18% of the active inventory and 20% of demand.
• For homes priced between $1 million to $1.25 million, the expected market time is 97 days, a balanced market that does not favor a buyer or seller.
• For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 93 days to 99. For homes priced between $1.5 million and $2 million, the expected market time decreased from 171 to 169 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 185 days to 264 days. For luxury homes priced above $4 million, the expected market time decreased from 460 to 424 days. 
• The luxury end, all homes above $1.25 million, accounts for 36% of the inventory and only 12% of demand.
• The expected market time for all homes in Orange County increased in the past couple of weeks from 64 days to 65 days, a tepid seller’s market (60 to 90 days). From here, we can expect the market time to slowly rise as housing makes its way through the Autumn Market.

• Distressed homes, both short sales and foreclosures combined, make up only 1.6% of all listings and 2.1% of demand. There are only 35 foreclosures and 53 short sales available to purchase today in all of Orange County, that’s 88 total distressed homes on the active market, increasing by 1 in the past two weeks. 
• Last year there were 120 total distressed sales, 36% more than today.
• There were 3,116 closed sales in August, a 12% increase over July 2017 and a 1.3% increase over August 2016. The sales to list price ratio was 98% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales and short sales accounted for 0.7%. That means that 98.5% of all sales were good ol’ fashioned equity sellers.
• The average list price for all of Orange County remained at $1.7 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.

Download Your Fall Home Buyer's eGuide

Thinking of a move in early 2018, let's chat so we can put a plan in place to make your dreams become a reality.   Anticipated price increases and interest rate hikes will impact your plan.   

Don't hesitate to contact us with any questions or for full copy of our Fall Market Report!

You're Going to Fall In Love with these Orange County Events this October

Fall has arrived in Orange County a bit early and the last few weeks we have had beautiful weather... Next week summer begins again... well what we call an Indian summer :)

The events Calendar for October is jammed packed with events to enjoy in area no matter if it is 70 degrees outside or 100 degrees.  

Irvine Park Railroad - Pumpkin Patch   Through Oct. 31

Train rides, hay rides, a haunted house, a hay maze, pony rides, a moon bounce, panning for gold, face painting, picture stands, the Orange County Zoo, and a lot more.

Irvine Park Railroad   www.irvineparkrailroad.com

Knott’s Scary Farm   Sept. 21-Oct. 31

Knott’s Berry Farm is transformed into your worst nightmare with themed mazes, live shows, and scare zones.

8039 Beach Boulevard, Buena Park   www.knotts.com

Haunted Fullerton Walking Tours   Sept. 27-Oct. 27

Take this tour and find out what businesses have pots and pans flying around after hours and enjoy some of Fullerton’s history.

See website for schedule. / Fullerton Museum 

714-738-6545 / www.cityoffullerton.com

Breitling Huntington Beach Air Show   Sept. 29-Oct. 1

Drawing thousands of visitors each year, the Air Show features the US Navy Blue Angels, The Royal Canadian Air Force Snowbirds and the F-16 Viper Demonstration Team.

12-4pm / Beach Blvd. and PCH   www.hbairshow.com

Newport Beach Wine & Food Festival   Sept. 29-Oct. 1

Enjoy dinners by celebrity chefs and local masters, taste bites from 40 different top restaurants with their executive chefs and sip from over 250 varieties of wines, spirits and craft brews. 

See website for schedule. / Newport Beach Civic Center

www.newportwineandfood.com

Orange County Children’s Book Festival   Oct. 1

Authors, illustrators, booksellers, animals, storytellers, costumed characters, train rides, crafts, food and entertainment and more.

9:30am-4:30pm / Orange Coast College, Costa Mesa

714-838-4528 / www.kidsbookfestival.com

Dana Point ArtFest   Oct. 1

Buy art from over 80 regional fine artists, live jazz and blues music, food and libations provided for purchase by local restaurants, celebrate arts and humanities month.

10am-5pm / Lantern District   www.dpartfest.com

San Clemente Sea Fest   Oct. 1

Chowder Cook-off, Fisherman’s Lobster, Business Exposition, Arts & Craft Show, Surf Contest, Children & Teen Contests, Children’s Complementary Arts & Crafts, Entertainment and a U.S. Coast Guard Search & Rescue Demo Operation.

9:30am-3pm / San Clemente Pier   www.scchamber.com

Sandcastle Contest   Oct. 1

Thousands of sightseers will descend on “Big Corona Beach” to view amazing sand sculptures.

10am-3:30pm / Corona del Mar State Beach

949-729-4400 / www.newportbeach.com

Tustin Tiller Days   Oct. 6-8

The event provides an opportunity for Tustin to celebrate Orange County’s agricultural heritage. Features Parade (on Saturday at 10am), carnival, rides, food and entertainment.

Fri 4-11pm, Sat 11am-11pm, Sun 11am-8pm / 17522 Beneta Way 

714-573-3326 / www.tustintillerdays.org

Motel 6 Feet Under   Oct. 6-Nov. 4

This haunted maze is sure to frighten even the most seasoned of Halloween veterans, with state-of-the-art props and animatronics.

Business Expo Center, Anaheim   www.mables6feetunder.org

Dana Point Oktoberfest   Oct. 7

German bands, great authentic German food and large selection of German and Craft brews on tap. 

12-7pm / Sea Terrace Park   www.danapointoktoberfest.com

Laguna Beach Plein Air Painting Invitational   Oct. 7-15

Plein air landscape painters will compete for prestigious prizes and participate for the week of events including public paint outs and artist meet and greets. Collectors Gala at Tivoli Too on the 14th.

949-376-3635 / www.LagunaPleinAir.org

Fall Open House and College Fair   Oct. 10

Students can meet face-to-face with representatives from over 90 colleges and universities at Fairmont Prep’s annual College Fair.

6-7:30pm / Fairmont Preparatory Academy, Anaheim

714-234-2771 / www.fairmontprepacademy.com

Placentia Heritage Festival and Parade   Oct. 10

A pancake breakfast at 6:30am followed by the parade and band review at 9:30am. The festival begins at 9:30am and will feature the annual car show, a crafts fair, food booths, kids games and more.

Tri-City Park: 2301 N. Kraemer Blvd.

714-524-8535 / www.placentia.org/heritagefestival

Haunt at Heritage Hill   Oct. 13-14

Haunted House, Mazes, Goblins, Music, Stage Performances, Classic Horror Movie Screening. Wear your costume!

6-10pm / Heritage Hill Historical Park, Lake Forest

949-923-2230 / www.ocparks.com

Vibes4Vets   Oct. 14

A benefit concert for California’s homeless veterans and other services for veterans. 

5-10pm / Festival Amphitheatre, Garden Grove

714-761-5811 / https://vibes4vets.funraise.org

Dana Point Fine Arts Festival Show   Oct. 14-15

Celebrating Arts & Humanities Month in Dana Point!

9:30am-5pm / Dana Point Harbor   www.danapointfinearts.org

Spooktacular Fun Days   Oct. 14-15

Pumpkin patch, treats, games, crafts, gourmet food trucks and much more. Come in costume!

9am-3pm / Orange County Great Park, Irvine

949-724-6000 / www.cityofirvine.org

Silverado Country Fair and Folk Festival   Oct. 14-15

Old West rustic culture, great live music, Wild West reenactments, arts and crafts, 1800’s activities, tasty food, beer & wine saloon, plus some ‘ole timey’ contests.

Silverado Community Center & Fairgrounds

714-649-2411 / www.silveradocountryfair.org

Boot Hill   Oct. 14-15, 20-22 & 27-29

The unearthly spirits from the old west town of Bridgewood will materialize for NINE nights. Free to all, donations are accepted with proceeds going to Children’s Hospital of Orange County.

7-10pm / 16 Goldenrod, Irvine   www.legendofboothill.com

Gourmet Guys Raise “Bread” for Kids   Oct. 15

Wake up your palette with 100 bites of tasty dishes from appetizers to entrees to decadent desserts! Enjoy beer and wine plus a Mimosa and Bloody Mary bar.

12-3pm / La Habra Community Center   www.lhcm.org

Surf City 10 Miler/10K/5K   Oct. 15

The spectacular 10K is long enough to challenge your endurance yet is the perfect distance for achieving a PR. The Flat Fast course is perfect for a leisurely 5K jog.

21100 Pacific Coast Highway, Huntington Beach

888-422-0786 / www.surfcity10.com

Choc-Littlest Angel Guild’s Great Kitchens & Garden   Oct. 20

At this self-guided tour, our guests will view 6 stunning homes located in Peralta Hills (Anaheim) and Yorba Linda.

10am-4pm / Homes in Anaheim & Yorba Linda

www.littlestangelguild.org

Silverado Days   Oct. 20-22

Games, crafts, contests, rides, food and fun for the whole family. Car Show, Arm Wrestling Championship, Horseshoes, Pie-Eating, Dog Show, Chili Cook-off and more.

William Peak Park, Buena Park   www.silveradodays.com

Doheny State Beach Halloween Haunt   Oct. 21

Good ole fashioned spookiness, arts and crafts, a fun zone, and an array of educational booths.

6:30-8:30pm / Doheny State Beach: picnic sites A and B

949-496-6171 / www.dohenystatebeach.org

Healthy Smiles Gala   Oct. 21

Dinner, Live and Silent Auction, Entertain and more! Cocktail Attire. $150 per ticket.

6-10pm / Bowers Museum, Santa Ana

714-510-3846 / www.healthysmilesoc.org

Historical Cemetery Tour   Oct. 21

This guided historical walking tour features costumed actors who share stories from Orange County’s past.

Fairhaven Memorial Park, Santa Ana

714-547-9645 / www.santaanahistory.com

Wings, Wheels and Rotors Expo   Oct. 22

Civilian and military helicopters and aircraft, plus a custom car show and more than 300 varieties plus a vendor fair.

9am-4pm / Los Alamitos Army Airfield  www.wwrexpo.org

Treats in the Streets Autumn Festival   Oct. 26

Fun activities include games, trick or treating, a costume parade, and entertainment for participants of all ages.

4-7pm / Old Towne Orange Plaza Area

714-744-7293 / www.cityoforange.org

Halloween Spooktacular/Moonlight Movie   Oct. 27

Carnival Games, Halloween Cookie Decorating and Crafts, a costume parade and more. “Hotel Transylvania 2”

3-9pm / Dana Point Community Center   www.danapoint.org

Casa Creepy: Haunted House   Oct. 27, 28 & 31

Encounter ghosts, mummies, and creepy surprises around every corner during spooky tours of our historic 1927 home.

7-9pm / Casa Romantica Cultural Center, San Clemente

949-498-2139 / www.casaromantica.org

Anaheim Fall Festival/Halloween Parade   Oct. 28

Game and food booths, entertainment, crafts, haunted house, pumpkin patch, costume contest and trick-or-treating.

Center Street Promenade, Downtown Anaheim 

714-999-3456 / www.anaheimhalloweenparade.org

Los Alamitos Trunk or Treat   Oct. 28

Trunk-or-treating, treasure hunting, games, costume contests and more! Be sure to dress in your Halloween best!

5-7:30pm / Little Cottonwood Park

562-430-1073 / www.cityoflosalamitos.org

Stanton Halloween Fun   Oct. 28

This special event is open to ghosts and goblins of all ages and will feature games, DJ entertainment, costume contests, non-profit food booths and a howling good time for everyone. 12-4pm / Stanton Park    www.ci.stanton.ca.us

Happy Hallowiener   Oct. 29

Dog races, carnival games, face painting, a bouncy house, DoDo the chicken, and join everyone on the dance floor for everyone's favorite song, the Chicken Dance.

2-4pm / Old World Village, Huntington Beach

714-895-8020 / www.oldworld.ws

Villa Park Halloween Fest   Oct. 30

Visit local merchants for treats throughout the Towne Centre. There will also be hayrides, a coloring contest, food, commemorative photos and pumpkin carving.

Villa Park Towne Centre   www.vpcsfoundation.org

Brea Kidz Block Party   Oct. 31

Presented by The Cause Community Church featuring face painting, pony rides, games, bounce house, petting zoo,rock climbing wall, raffles, prizes, entertainment and free candy.

5-9pm / Brea Downtown   www.kidzblockparty.com

La Palma Halloween Carnival   Oct. 31

Join the gang and the Mystery Machine for La Palma’s safe, family oriented alternative to traditional trick or treating.

6-8:30pm / Central Park   www.cityoflapalma.org

Main Street Halloween Fest   Oct. 31

The spooky festivities include a photo booth, petting zoo, rides, costume contests and more.

4-8 / Downtown Huntington Beach   www.hbdowntown.com

Tustin Halloween Howl   Oct. 31

Costume contests, family entertainment, carnival games, prizes and candy.

3-5pm / Columbus Tustin Activity Center   www.tustinca.org

Mini Monsters Bash   Oct. 31

Games, crafts, and a mini-maze! Little ones and their adults are encouraged to dress in costume!

10am-12pm / La Habra Children’s Museum   www.lhcm.org

Cypress Halloween Carnival   Oct. 31

Family Games, Entertainment and Trick or Treat! Food will be sold for an additional cost at the event.

6pm / Cypress Community Center

714-229-6780 / www.cypressca.org

Search Orange County Homes

We hope to see you out in the community.   Remember as you are out enjoy these events we are here to help with all your real estate needs.   The Fall real estate market in Orange County is certainly hot and the market needs your home for the strong buyer demand we are seeing this year.   Don't hesitate to give our team a call to review the market in your area.