Tuesday, January 30, 2018

Loving these February Events throughout Orange County

Orange County Economic Forecast 2018   Feb. 1
Special Guest Speaker: Dr. Christopher Thornberg. Dr. Thornberg is Founding Partner of Beacon Economics, LLC and widely considered to be one of the nation’s leading economists. An expert in economic forecasting, regional economics, employment, and labor markets, economic policy, and industry and real estate analysis, he was one of the earliest and most accurate predictors of the subprime mortgage market crash that began in 2007, and of the global economic recession that followed.
Time/Place: 11:45am-1pm / Embassy Suites Brea: 900 E Birch St., Brea
Contact: 714-529-3660 / www.breachamber.com

Surf City USA Marathon & Half Marathon   Feb. 2-4
Run on PCH past the famous Huntington Beach pier and wind through the legendary surfing beaches of Southern California. Retro surf bands entertain along the way and the Finish Line Party includes a beach side beer garden in the California sun. Finishers receive bodacious surfboard medals!
Time/Place: See website for schedule. / Huntington Beach
Contact: 888-422-0786 / www.motivrunning.com/run-surf-city

Annual Monarch Butterfly Day   Feb. 3
OC Parks invites children and families to learn all about Monarch Butterflies and their natural habitat with an up-close look at the magnificent creatures. Children can assist in planting plants to attract Monarch Butterflies. Participants can also go inside a netted butterfly enclosure. Butterfly experts will be on-site. Additional activities include interpretive programs, children’s crafts, face painting and a balloon artist. Food will be available for purchase.
Time/Place: 10am-2pm / Mile Square Regional Park, Fountain Valley
Contact: 714-973-6600 / www.ocparks.com/parks/mile

San Juan Capistrano Car Show   Feb. 3
The classic, new and exotic will headline this popular fundraiser, which promises a fabulous display of some 400 antique and classic cars and trucks. The return of the popular New-Car Row will show the latest models from local dealers. Come and see the impressive rows of cars and trucks, shop the vendor’s booths and enjoy delicious food with your family.
Time/Place: 7:30am-2pm / SJC Community Center-Sports Park
Contact: www.sjcrotary.org/Page/carshow

Laguna Beach Music Festival   Feb. 7-11
A co-presentation of Laguna Beach Live! and the Philharmonic Society of Orange County, the Laguna Beach Music Festival is an annual multi-day celebration featuring outstanding classical and contemporary concerts in intimate spaces, community outreach programs and dynamic special events.
Time/Place: See website for schedule of events.
Contact: 949-553-2422 / www.philharmonicsociety.org/LBMF

Taste of San Juan   Feb. 8
Help launch the kick-off celebration of the Fiesta de las Golondrinas with 25 restaurants, under one roof! Taste of San Juan brings many of the restaurants and caterers serving San Juan Capistrano together to tempt you with their finest offerings.
Time/Place: 6-9pm / San Juan Hills Golf Course 
Contact: 949-493-1976 / www.swallowsparade.com

Search San Juan Capistrano Homes for Sale

Art Crawl Experience   Feb. 10
“ACE” is an auditory explosive art walk and arts festival has been acclaimed by local artisans as the Downtown Anaheim Arts District. During the evening of an ACE, attendees stroll amongst outdoor permanent art fixtures, such as Peter Shire’s illuminated birdhouse sculptures, to discover artists demonstrating their creative process live for curious onlookers.
Time/Place: Anaheim Blvd., Harbor Blvd., Center Street Promenade
Contact: 714-956-3586 / www.downtownanaheim.com

Art Auction 2018   Feb. 10
Art Auction 2018 will include 100 museum-curated works by California artists featured in recent exhibitions, special events, and the museum’s permanent collection. This festive affair will include live music, delicious cuisine, and creative cocktails.
Time/Place: Laguna Art Museum: 307 Cliff Drive, Laguna Beach
Contact: 949-494-8971 / www.lagunaartmuseum.org

Artesanos Village, Craft Fair   Feb. 10
Community Crafters meet every 2nd Saturday of the month to sell their beautiful art and display their talented skills.
Time/Place: 9am-2pm / Hecho en Mexico: 173 W Santa Fe Ave., Placentia
Contact: www.facebook.com/hechoenmexicogiftstore

Timberwolf 5K   Feb. 10
The Timberwolf 5K, sponsored by Mike Dunn, Platinum Property Realty, brings the Northwood community together in support of over 1,100 athletes and their 25 teams. New this year: Pancake breakfast, immediately following the race. Proceeds from registration and sponsorships benefit Northwood High School and Families Forward, a local non-profit providing supported housing programs, counseling, food, referrals, school supplies, career coaching, and other services for families in crisis.
Time/Place: 6:30am / Northwood High School, Irvine
Contact: www.timberwolf5k.com

The Revolution - Revolutionary War Reenactment   Feb. 10-11
Experience the American Revolution hosted by the Huntington Beach Historical Society. This free event is open to the public and will have different battles that can be witnessed throughout the day along with live music and food options.
Time/Place: Sat 10am-5pm, Sun 9am-4pm / Huntington Central Park: 7111 Talbert Avenue
Contact: www.hbhistory.org/revolution

Active Lifestyle Valentine’s Sock Hop   Feb. 11
Enjoy a delicious catered dinner and live band with the ‘50s Sock Hop theme. So get on your poodle skirts, your cardigan sweaters or leather jackets and come dressed in the ‘50s style. $20 per person or $35 per couple.
Time/Place: 5-9pm / Dana Point Community Center: 34052 Del Obispo St.
Contact: 949-248-3507 / www.danapoint.org

Newport Beach Jazz Party and Big Band Blowout   Feb. 15-18
This year’s party, featuring a big band closing each of the 4 nights will again be the time for mainstream jazz lovers from around the country (& world) to arrive in Newport Beach. In addition to a Saturday and Sunday Champagne Jazz Brunch, daily evening concerts will take place in the Marriott’s Grand Pacific Ballroom plus afternoon pool sessions on the grounds of the resort.
Time/Place: Newport Beach Marriott Hotel & Spa
Contact: 949-759-5003 / www.newportbeachjazzparty.com

Tet Festival   Feb. 16-18
Helping preserve Vietnamese culture, the Tet Festival boasts about the attraction of over 100,000+ audiences and hundreds of booths in a span of a three day weekend event. Visitors are immersed with a vibrant array of traditional foods, live entertainment, festive games, and customs celebrating the Vietnamese Lunar New Year.
Time/Place: Fri 4-10pm, Sat 11am-10pm, Sun 11am-9pm / OC Fair & Event Center, Costa Mesa
Contact: 714-388-6711 / www.tetfestival.org

Kids’ Pet Parade   Feb. 17
Part of the annual Fiesta de las Golondrinas celebration. Kids between the ages of 5 to 12 can show off their favorite animals in a contest for, The Cutest, Most Unusual, Best Team Costume (owner and pet), Funniest & Most Obedient (pet, not child).
Time/Place: 10am-1pm / Los Rios Park: 31747 Los Rios Street, SJC
Contact: 949-493-1976 / www.swallowsparade.com

Wine Tasting & Music   Feb. 17
Join us for live music, appetizers and a sampling of up to 14 different wines courtesy of San Clemente Winery. Event proceeds will benefit the Wars of Freedom Veterans Tribute designed to recognize veterans who’ve served our country during the years from 1975 to present day.
Time/Place: 3-5pm / Norman P. Murray Community and Senior Center, Mission Viejo
Contact: 949-470-3062 / www.cityofmissionviejo.org

LUZIA by Cirque du Soleil   Feb. 21-Mar. 18
This unique performance offers spectacular acrobatic performances and visual surprises, bringing the stage to life with traditional and modern representations of Mexico.
Time/Place: OC Fair & Event Center, Costa Mesa
Contact: 714-708-1500 / www.cirquedusoleil.com/luzia

Los Alamitos ‘Race on the Base’   Feb. 23-24
The yearly event has continued to provide not only a forum for local avid runners and walkers, but has also instilled a sense of pride and teamwork between the Los Alamitos City Council, the citizens of Los Alamitos, the Rossmoor Community Services District, and the local business community. Features helicopters, planes and military vehicles with music throughout the course.
Time/Place: See website for schedule. / Joint Forces Training Base
Contact: 562-430-1073 / www.raceonthebase.com

San Clemente Day 90th Anniversary Celebration   Feb. 24
To commemorate the great history and traditions of the City there will be open houses, historians, and discounts at City facilities including free recreation swim at the Ole Hanson Beach Club.
Time/Place: 9am-4pm / 105 W. Avenida Pico
Contact: 949-361-8200 / www.san-clemente.org

Festival of the Hearts   Feb. 24
Presented by Laura’s House and Tilly’s Life Center, the festival will gather local youth, parents and teachers for our youth education and empowerment day. This event, taking place during Teen Dating Abuse Awareness Month, will inspire and empower attendees with the theme of creating healthy relationships. The event will offer various workshops and breakout sessions, interactive group activity, lunch, sponsored by El Pollo Loco and live entertainment. 
Time/Place: 9am-3:30pm / Saddleback College, Mission Viejo
Contact: 949-361-3775 / www.laurashouse.org

Irvine Park Railroad Anniversary Celebration   Feb. 24-25
To celebrate their 21st year of business and to show appreciation to all their loyal customers Irvine Park is rolling back to their original 1996 prices during their anniversary weekend, including $2 train rides! $2 activities and concessions including carnival games, hot dogs, sodas, ice creams, popcorn, bounce house tickets and cotton candy. Face painting and panning for gold (gold panning requires two $2 tickets). FREE giveaways include Irvine Park Railroad balloons.
Time/Place: 10am-4pm / Irvine Regional Park, Orange
Contact: 714-997-3968 / www.irvineparkrailroad.com

Search Irvine Homes for Sale

Brea 8K   Feb. 25
This USATF-sanctioned, chip-timed race is fast and fun for all ages and athletes, runners and walkers alike.
Time/Place: 8-11am / Brea Mall
Contact: www.brea8k.com

Remember as you are out enjoying these great events we are here to help you with your real estate needs.   February is an excellent time to get your home on the market and sold for top dollar before the spring rush of competition comes on the market. 

Congratulations to Keller Williams

We have some exciting news to share, Keller Williams has been recognized by the National Association of Realtors as the leading Real Estate company nationwide.  

In one of the most stunning David and Goliath stories in real estate history, Keller Williams has surged past industry giants like RE/MAX, Coldwell Banker, and Berkshire Hathaway HomeServices to become the number one real estate franchise in agent count, closed units, and closed sales volume in the United States*. In 2017, the company’s 155,000 U.S. agents closed more than 1 million units, generating more than $300 billion in sales revenue.

I have to say for me personally Keller Williams has been an exceptional place to grow my real estate business.  Our office in Mission Viejo provides, training, mentoring and a technology platform that is unsurpassed.   If you have ever thought about a career in real estate, I would be happy to discuss with you why I choose Keller Williams and how it has supported my business thus far!

What does that mean for our clients.. In a word.. TRUST!  You can trust your home sale or purchase is being managed by the best.  

Keller Williams network of agents across the country is extensive, so if you are looking to buy, sell, invest we can help you right here in Orange County.  We should also note, Keller Williams Mission Viejo is the leader in the Orange County Market.

For a full review of how we became #1, make sure to read the official announcement.  As always if you have any questions, please do not hesitate to contact us directly.

Orange County Market Update

2017 has come to a close and we are moving very quickly into 2018.   Below is a quick look at how the market finished up in 2017.  Low inventory was the major story for 2017 and looks to be the same in 2018.   
  • The active listing inventory increased by 67 homes in the past two weeks and now totals 3,774. Expect the inventory to increase from now through mid-Summer. Last year, there were 4,320 homes on the market, 546 more than today.        
  • There are 25% 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, skyrocketed in the past two weeks by adding an additional 317 pending sells, up 22%. The average pending price is $902,385.
  • The average list price for all of Orange County remained at $1.8 million over the past two weeks. 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 40 days. This range represents 37% of the active inventory and 59% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 55 days, a hot seller’s market (fewer than 60 days). This range represents 17% of the active inventory and 20% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 68 days, a slight seller’s market (between 60 and 90 days)
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time dropped from 157 days to 112. For homes priced between $1.5 million and $2 million, the expected market time decreased from 188 to 145 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 285 days to 221 days. For luxury homes priced above $4 million, the expected market time fell from 695 to 355 days.
  • The luxury end, all homes above $1.25 million, accounts for 37% of the inventory and only 13% of demand.
  • The expected market time for all homes in Orange County dropped from 77 days to 64 in the past two weeks, a slight seller’s market (60 to 90 days). From here, we can expect the market time to drop dramatically through mid-February
Summary of Expected Market Time

  • Distressed homes, both short sales and foreclosures combined, make up only 1.2% of all listings and 2.2% of demand. There are only 15 foreclosures and 32 short sales available to purchase today in all of Orange County, that’s 47 total distressed homes on the active market, dropping by 3 in the past two weeks and reaching its lowest level since the very beginning of the Great Recession. Last year there were 91 total distressed sales, 74% more than today.
  • There were 2,269 closed residential resales in December, down by 9% from December 2016’s 2,484 closed sales. December marked a 6.5% drop from November 2017. The sales to list price ratio was 97.3% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales and short sales accounted for 0.9%. That means that 98.3% of all sales were good ol’ fashioned sellers with equity.

Search Orange County Homes

As noted above, inventory continues to drive the market.  However that does not mean there are not deals to be head.  We keep a list of off-market properties on hand that may be just what you are looking for, so please do not hesitate to contact me with with any questions,

For a full copy of this report, including market graphs and neighborhood information, click here