Thursday, October 3, 2019

Opportunity is Knocking for Buyers of Luxury!


When you read headlines like "Luxury is slow?" Does that get you excited?  If you are a selling a luxury home probably not, but if you are looking to move up to that dream home it should! 





Looking at the overall luxury market in the OC, we find an Expected Market Time for all homes above $1.25 million of 213 days, what this tells us is luxury is simply sluggish.  There is no line at the deli counter. You walk in to your favorite restaurant and get seated right away. At the grocery store, all the check stands are open yet not a soul is checking out. It is sunny with no rain in the forecast, but when you pull up to get the car washed there is no wait. That just about sums up the luxury housing market, there are simply not enough buyers compared to the number of sellers; demand is low. There is no line of buyers waiting for yet another luxury home to come on the market. 

Yahoo Finance exclaims how the “Housing market bounces back.” CNBC touts how “Existing home sales at their fastest pace since March 2018.” The Los Angeles Times reports that “Southern California home sales and prices perked up in July.” It is understandable how luxury homeowners who list their homes have high expectations. The trouble is that none of these headlines applies to the luxury market. 

The headlines can be confusing. They seem to paint a strong housing market. They are NOT reporting on the luxury market; headlines describe the overall market. For homes priced below $1 million, Orange County real estate is much hotter and quite the contradiction compared to the upper end. 

Luxury housing is sluggish. Weekend open houses are not flooded with potential buyers. Multiple offers are extremely rare. It is not uncommon to go a week, or even weeks, without a single buyer touring a luxury home. There is very little buyer competition.

This means there is a HUGE opportunity for Buyers who are looking to step up into the Luxury Market right now!   

Search Orange County Luxury Homes


Overall inventory of homes in Orange County is down from the same time period of last year, providing the move up seller the opportunity to sell in a slight sellers market and buy in the luxury buyers market.   

Below is a snapshot of the overall market.. 

The active listing inventory decreased by 137 homes in the past two-weeks, down 2%, and now totals 6,860. Last year, there were 7,207 homes on the market, 347 more than today. 
Demand, the number of pending sales over the prior month, downshifted considerably in the past two-weeks and decreased by 127 pending sales, down 5%, and now totals 2,401. Last year, there were 2,167 pending sales, 10% fewer than today. 
The Expected Market Time for all of Orange County remained increased from 83 to 86 days, a slight Seller’s Market (between 60 to 90 days). It was at 100 days last year, a much slower market.
For homes priced below $750,000, the market is a hot Seller’s Market (less than 60 days) with an expected market time of 57 days. This range represents 38% of the active inventory and 56% of demand.
For homes priced between $750,000 and $1 million, the expected market time is 72 days, a slight Seller’s Market. This range represents 19% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 108 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time decreased from 146 to 136 days. For homes priced between $1.5 million and $2 million, the Expected Market Time increased from 147 to 155 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time increased from 220 to 278 days. For luxury homes priced above $4 million, the Expected Market Time increased from 527 to 555 days. 
The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 14% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.5% of demand. There are only 24 foreclosures and 29 short sales available to purchase today in all of Orange County, 53 total distressed homes on the active market, up three in the past two-weeks. Last year there were 68 total distressed homes on the market, slightly more than today.
There were 2,823 closed residential resales in August, 0.6% more than August 2018’s 2,806 closed sales. August marked a 2% drop compared to July 2019. The sales to list price ratio was 97.2% for all of Orange County. Foreclosures accounted for just 0.2% of all closed sales, and short sales accounted for 0.3%. That means that 99.5% of all sales were good ol’ fashioned sellers with equity.

What's the Value of your Home


If you have always wanted to purchase that Luxury home maybe down at the Beach, or on Golf Course, we should chat.  Let's put a strategy together that will get your home sold at top dollar and provide you the opportunity to make that move up you always wanted to!! 

Thursday, August 29, 2019

It's getting hot out there!



With the end of summer distractions will their be a jump in OC real estate market this fall?


Check out our End of Summer Real Estate Recap!





Many buyers and sellers are holding out for a major shift in the market favoring their point of view, but housing is not changing anytime soon. 

There is an old saying, “If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck." No matter how hard you wish it was something else, it is still a duck at the end of the day. 

Today’s housing market is a slight Seller’s Market. That is when homes are not appreciating much at all, but sellers get to call more of the shots during the negotiating process. For buyers and sellers, wishing that the market was different is a complete waste of time. 

Many buyers and sellers are holding out and hoping for a change in the market., but missing out on opportunities. Buyers want to see housing slow to a crawl like it did in the last four months of 2018 where, for a moment, they were in the driver’s seat. They would love to see prices come down, after all, aren’t values too high? 

Sellers expect the housing market to behave like it did from 2012 through 2017. Boy those were HOT years!! They should once again be able to stretch their housing price and get $15 or $20,000 more than the last sale with multiple offers within the first couple of weeks, right? 

This kind of thinking is stinking thinking. Neither are correct. What you see in the market today is ultimately what you are going to see for the rest of the year. More simply, it is what it is; what you see is what you get. Values are not going to grow much. The overall pace of housing is not going to change. Housing is going to move along at the same clip. Buyers think that the end of the year is the BEST time of the year to buy. Nope! What you see is what you get. Sellers think that the market is going to suddenly heat up.  Nope! What you see is what you get. 

OC Real Estate Snapshot:


The active listing inventory decreased by 181 homes in the past two-weeks, down 2%, and now totals 7,307. The inventory reached a peak for the year of 7,601 four-weeks ago. Last year, there were 7,001 homes on the market, 306 fewer than today, 4% less. Two years ago, there were 20% fewer homes on the market.
Demand, the number of pending sales over the prior month, decreased by 81 pending sales in the past two-weeks, down 2%, and now totals 2,548. Last year, there were 2,350 pending sales, 8% fewer than today. Two years ago, demand was 11% stronger than today.
The Expected Market Time for all of Orange County remained unchanged at 86 days, a slight Seller’s Market (between 60 to 90 days). It was at 89 days last year.
For homes priced below $750,000, the market is a hot Seller’s Market (less than 60 days) with an expected market time of 57 days. This range represents 38% of the active inventory and 57% of demand.

Find Available Laguna Niguel Homes under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 74 days, a slight Seller’s Market. This range represents 19% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 117 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time increased from 130 to 149 days. For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 244 to 162 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time decreased from 280 to 249 days. For luxury homes priced above $4 million, the Expected Market Time increased from 404 to 509 days. 
The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 13% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.4% of demand. There are only 20 foreclosures and 32 short sales available to purchase today in all of Orange County, 52 total distressed homes on the active market, down five in the past two-weeks. Last year there were 58 total distressed homes on the market, slightly more than today.
There were 2,871 closed residential resales in July, 5% more than July 2018’s 2,734 closed sales. July marked a 6% increase compared to June 2019. The sales to list price ratio was 98.3% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.24%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.

To read the entire OC Market Report - Click Here

What's the Value of your Laguna Niguel Home?


What do you think is happening in the OC real estate market?  Are you waiting but not sure if you should?  We are certain you have many questions.  The answers are completely different depending on your needs.   Example, homes priced under $750,000 are in high demand.  If your home is valued in this range and you are thinking about a move up, with the high demand and low interest rates this is an exceptional time to list your home.  Don't hesitate to give me a call to review the market in your neighborhood along with your goals.  We promise to provide you an objective point of view on what is happening in the market and if it matches your goals.


Tuesday, August 13, 2019

Can't make heads or tails of the OC Real Estate Market?

Have you heard there is a slowdown in the real estate market?  We bet you have! Have you also heard how busy the market is? We bet you have as well. Can you make heads or tails of what is really going on with the OC real estate market? 





Frankly, it is pretty simple; Buyer demand may not be as hot as prior years, but the Housing market is not collapsing either. There are no surprises on the housing front anytime soon. Reports from the housing trenches are that many buyers expect the market to drop like a rock and that is when they will finally be able to purchase. That simply is not on the horizon. Sitting back and waiting on the sidelines will prove to be a waste of time and depending on the price point you are looking at could prove to cost you money!

Below is a summary of the overall OC Real Estate Market:

The active listing inventory decreased by 113 homes in the past two-weeks, down 1%, and now totals 7,488. The inventory most likely reached a peak for the year of 7,601 two weeks ago. Last year, there were 6,893 homes on the market, 595 fewer than today. There are 9% more homes than last year.
Demand, the number of pending sales over the prior month, increased by 101 pending sales in the past two-weeks, up 4%, and now totals 2,606. Last year, there were 2,394 pending sales, 9% fewer than today.
The Expected Market Time for all of Orange County decreased from 91 days two weeks ago to 86 days today, a slight Seller’s Market (between 60 to 90 days). It was at 86 days last year.
For homes priced below $750,000, the market is a hot Seller’s Market (less than 60 days) with an expected market time of 58 days. This range represents 38% of the active inventory and 56% of demand.

Search OC Homes under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 70 days, a slight Seller’s Market. This range represents 19% of the active inventory and 24% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 109 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time decreased from 147 to 130 days. For homes priced between $1.5 million and $2 million, the Expected Market Time increased from 240 to 244 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time decreased from 288 to 280 days. For luxury homes priced above $4 million, the Expected Market Time decreased from 500 to 404 days. 
The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 13% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.4% of demand. There are only 20 foreclosures and 37 short sales available to purchase today in all of Orange County, 57 total distressed homes on the active market, up one in the past two-weeks. Last year there were 88 total distressed homes on the market, slightly more than today.
There were 2,871 closed residential resales in July, 5% more than July 2018’s 2,734 closed sales. July marked a 6% increase compared to June 2019. The sales to list price ratio was 98.3% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.24%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.

For a full copy of this report, click here!

If you are wondering if now is the time to buy, move up and/or sale, it really depends on what is happening in your life.  The message really should be that the OC real estate market is very stable, right now.  There has been an increase in homes and along with reduction in interest rates, this truly may be the best market to make a move we have had in years!  Don't hesitate to give me a call to review your goals and I am happy to review with you a hyper-local strategy that will ensure your goals are met.




Wednesday, July 17, 2019

OC Summary Real Estate Snaphot



Is the OC real estate market Hot or Not this July?







There are some mountain roads that are extremely steep. In trying to ascend it behind the wheel of a car, often the pedal is all the way to the floorboard. The engine revs loudly and the car sluggishly makes its way to the top. You want your car to zoom up the mountain, but it’s out of your control. It takes time.

Similarly, the housing market has been moving along sluggishly since the spring of last year. After hearing how slow the market had become in 2018, many homeowners eagerly waited for 2019’s Spring Market. Yet, muted demand was not just a blip on the housing radar screen in 2018. Instead, sluggish demand had been a trend that continued to this day.

There are many experts and plenty of media reports that are beginning to talk about a robust second half to 2019. They point to the tremendous drop in interest rates as a catalyst to a sharp increase in buyer demand. Their thinking is that rates have dropped more than a full percentage point since last November, which has improved affordability dramatically. They are correct; affordability has improved considerably. The payment for a $650,000 mortgage has dropped from $3,489 per month at 5% back in November, to $3,103 per month at 4% today. That’s a savings of $386 per month or $4,632 per year.

The underlying issue is that mortgage rates have been much lower than last year, after dropping considerably in March, but they have not changed the number of pending deals at all. 

The moral to the real estate trend story is that despite the incredible improvement in affordability due to low mortgage rates, buyer demand remains muted. Lower rates are not igniting a run-up in demand. Instead, there is an underlying theme that nobody is talking about. Homes appreciated handsomely from 2012 through the first couple of months of 2018, rising over 70%. That rise has brought housing to a point where many can no longer afford to purchase, and are sitting on the sidelines. 

Homes sell everyday in Orange County, but the homes that are selling are the ones that are priced correctly on the front end. With the a balanced market, pricing  is absolutely crucial in order to find success, when you list your home! It is also the perfect move up market... 


Below is a summary of the OC real estate market!

The active listing inventory decreased by 39 homes in the past two weeks, down 1%, and now totals 7,561. In the month of June, 12% fewer homes came on the market compared to June 2018. Last year, there were 6,579 homes on the market, 982 fewer than today. There are 15% more homes than last year.
Demand, the number of pending sales over the prior month, decreased by 87 pending sales in the past two-weeks, down 3%, and now totals 2,461. Last year, there were 2,454 pending sales, similar to today.
The Expected Market Time for all of Orange County increased from 89 days two weeks ago to 92 days today, a Balanced Market (between 90 to 120 days) and the highest level for this time of the year since 2011. It was at 80 days last year.
For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 64 days. This range represents 39% of the active inventory and 55% of demand.
For homes priced between $750,000 and $1 million, the expected market time is 79 days, a slight Seller’s Market. This range represents 19% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 98 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time increased from 137 to 143 days. For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 192 to 189 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time increased from 250 to 262 days. For luxury homes priced above $4 million, the Expected Market Time decreased from 667 to 518 days. 
The luxury end, all homes above $1.25 million, accounts for 35% of the inventory and only 14% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.5% of demand. There are only 20 foreclosures and 35 short sales available to purchase today in all of Orange County, 55 total distressed homes on the active market, identical to the number two-weeks. Last year there were 64 total distressed homes on the market, slightly more than today.
There were 2,715 closed residential resales in June, 6% fewer than June 2018’s 2,879 closed sales. June marked a 7% drop from May 2019. The sales to list price ratio was 97.6% for all of Orange County. Foreclosures accounted for just 0.5% of all closed sales, and short sales accounted for 0.4%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

For a complete copy of this report click here!

Thursday, July 11, 2019

Summer Pricing Strategies That Will Get Your Home Sold


Accurately pricing a home initially to avoid price reductions is the most lucrative strategy and a Golden Opportunity!









Sellers who price their homes accurately and avoid price reductions sell their homes for more. This rule of them is true all year long, but during the summer months, it is almost critical.

When a home initially comes on the market, the price will determine whether or not a seller will be raising their arms in the air with delight as they successfully close escrow. Buyers today do not want to pay much more than the most recent closed sale. Prices are a lot stickier. The days of rapid appreciation are now in the rearview mirror. Overpriced homes sit without success. Throwing a price out there just to test the market is not a wise strategy. Instead, carefully and methodically pricing a home is vital to cashing in on the Golden Opportunity, the first few weeks after coming on the market.

It is very telling to look at the sales price to last list price ratio. This refers to the final list price prior to opening escrow. In Orange County, 68% of all closed sales in June did not reduce the asking price at all. The sales price to last list price ratio for these homes was 98.9%, meaning, on average, a home sold within 1.1% of the asking price. A home listed at $600,000 sold for $593,400. In addition, 20% of all closed sales reduced their asking prices between 1% and 4%. The sales to list price ratio for these homes was 97.8%. A home listed at $600,000 sold for $586,800. For homes that reduced their asking prices by 5% or more, 12% of closed sales in June, the sales to list price ratio was 96.6%. A home listed at $600,000 sold for $579,600. Everybody would agree that closing for $593,400 is a lot better than $579,600.

The data is staggering in looking at the sales price to original list price. This is the price when a home initially comes on the market prior to any price reductions. For homes that reduced the asking price between 1% to 4%, the sales to original list price ratio was 95.6%. A home that was listed originally for $614,000 had to reduce the asking price to $600,000 to find success. Homes that reduced the asking price by at least 5% had a sales to original list price ratio of 84.1%. A home that was originally listed at $659,000 had to reduce the asking price, often more than once, to $600,000 to find success.

Accurately pricing is critical in obtaining the highest and best sales price. Homes that do not have to reduce ultimately sell for more. The amount of market time increases substantially for those that must reduce. And, there are a lot of price reductions occurring every week right now. An eye-opening 11% of all active listings reduced their asking prices last week. 

What is so important about the initial few weeks after coming on the market that helps drive success? There are many buyers who have not yet isolated their home and they are literally waiting on the sidelines for something to come on the market that meets their criteria. Every time a home is fresh to the market, there is a flood of initial activity as potential buyers clamor to be one of the first to take a look. There is more activity in the initial two weeks in entering the fray than any other time when a home is marketed. With the Internet, this period is even more important. Most buyers subscribe to a service that allows them to search homes that are on the market. When a home is newly listed, buyers receive email notifications and they are at the top of the list of homes available that match the buyer’s criteria.

With all of the fanfare, it is not a coincidence that the initial listing period is extremely important. Cashing in on the excitement makes a lot of sense; however, many sellers do not understand the significance and waste this GOLDEN OPPORTUNITY. Yes, a seller can always reduce the asking price down the road to be more in line with a home’s Fair Market Value, but the reduction will not be met with the same enthusiasm as the initial first few weeks. There is not as much excitement surrounding a price reduction. When something is brand new to the market, that is exciting. When something has been exposed to the market for a while, it becomes a bit “shop worn” and loses some of its marketing luster. 

The bottom line for sellers: spend more time carefully arriving at the asking price, taking into consideration all the pluses and minuses in the home: condition, upgrades, and location. Having the right price to begin with will not only reduce market time, it will result in more activity and a higher sales price. 

Orange County Real Estate Summary

The active listing inventory increased by 107 homes in the past two weeks, up 1%, and now totals 7,600, the highest level since September 2014. Last year, there were 6,362 homes on the market, 1,238 fewer than today. There are 19% more homes than last year.
Demand, the number of pending sales over the prior month, decreased by 113 pending sales in the past two-weeks, down 4%, and now totals 2,548. Last year, there were 2,604 pending sales, 2% more than today.
The Expected Market Time for all of Orange County increased from 84 days two weeks ago to 89 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 73 days last year.
For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 64 days. This range represents 39% of the active inventory and 55% of demand.
For homes priced between $750,000 and $1 million, the expected market time is 74 days, a slight Seller’s Market. This range represents 18% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 86 days, a slight Seller’s Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time increased from 118 to 137 days. For homes priced between $1.5 million and $2 million, the Expected Market Time increased from 149 to 192 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time decreased from 254 to 250 days. For luxury homes priced above $4 million, the Expected Market Time increased from 441 to 667 days.  Opportunities for Buyers at this level.

Search Orange County Luxury Homes


The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 14% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.4% of demand. There are only 22 foreclosures and 33 short sales available to purchase today in all of Orange County, 55 total distressed homes on the active market, up two the last two-weeks. Last year there were 58 total distressed homes on the market, nearly identical to today.
There were 2,929 closed residential resales in May, 2% more than May 2018’s 2,870 closed sales. April marked a 15% increase from April 2019. The sales to list price ratio was 97.6% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales, and short sales accounted for 0.6%. That means that 98.6% of all sales were good ol’ fashioned sellers with equity.

For a full copy of this report, click here!

Are you thinking of a move and not sure how to look at the market in your neighborhood? Don't hesitate to give me a call direct to review.  When we look at the market and determine the best pricing strategy for your home, we are looking at it hyper locally.  As well if you are looking to buy, we take the same strategy to ensure the price you are purchasing the home at is not over valued. 



Monday, July 1, 2019

Orange County Events in July

Can you believe it, today is July 1st.  We are halfway through 2019.   As they say, time flies when you are having fun and July is set to have many fun activities around the county.  

Of course, each city does a wonderful job celebrating the 4th of July, but make sure to check out all the other events scheduled this month!


What are some of your favorite events in the county during summer?  Send us a message and we are happy to share with our readers.  

Search Orange County Homes


If you are thinking of selling your home this summer and not sure how you can fit in some fun and get your house ready, don't hesitate to give me a call direct. The Orange County real estate market is very strong and the perfect market to make a move up. With increase inventory and reduction of rates, now truly is the perfect time to make a move.

Monday, June 24, 2019

4th of July Events in Orange County



Ready to celebrate Freedom! There are amazing celebrations planned around Orange County. Take a peek below..


Orange County 4th of July Events by Realtor Chuck Harper


Don't worry, while you are out enjoying the holiday, we have your real estate needs covered!   The American Dream is alive and well in Orange County and a true aspect of why I love helping clients find their perfect home! Don't hesitate to contact me with any questions you may have about the current real estate market.

If you would like this list sent directly to you, click here!

Thursday, June 20, 2019

Is Now the Most Lucrative time to Sell a home?


It is that time of the year for the family vacation. That includes airports, long lines at the TSA checkpoint, connections, and a bit of stress and anxiety. Inevitably, countless travelers with kids in tow will find themselves running to their connecting flight. The sense of urgency is intense. As if to mock the situation, the flight crew announces, “LAST CALL for flight 93!” Frantically many will barely make it, gasping for air while boarding the plane. Still others will arrive at the gate only to find that the “cabin door has been closed.”

This is also the time of year when many sellers come on the market thinking they have an ample amount of time to market their home to take advantage of the Summer Market, but that simply is not the case. Yes, summer has just begun, but the Summer Market for housing already started in May. The housing market shifts from away from the Spring Market with the distractions of the end of the school year, especially graduations. From there, the distractions of summer and the family activities take hold: family vacations, trips to the beach, trips to the pool, family reunions, summer camps, and picnics. Life gets in the way for many that are looking to purchase a home. As a result, housing downshifts from the best time of the year to sell, the spring, to the second-best time of the year, summer. 

Right around the corner is the Autumn Market. For housing, that begins as soon as the kids go back to school, which is the end of August. As soon as school starts, it is no longer the most advantageous time of the year to move a family. As a result, many buyers put searching for a home on hold until the following year. Once school starts, it is just too disruptive for a family move. Changing schools is out of the question for too many families; it is just too disruptive. So, buyers want to close escrow by the end of August. Most escrow are between 30 to 45 days, meaning they need to open escrow by the end of July.

Orange County Housing Summary
  • The active listing inventory increased by 14 homes in the past two weeks, nearly unchanged, and now totals 7,493, the highest level since September 2014. Last year, there were 6,105 homes on the market, 1,388 fewer than today. There are 23% more homes than last year.
  • Demand, the number of pending sales over the prior month, increased by 15 pending sales in the past two-weeks, up 1%, and now totals 2,661. Last year, there were 2,699 pending sales, 1% more than today.
  • The Expected Market Time for all of Orange County decreased from 85 days two weeks ago to 84 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 68 days last year.

  • For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 61 days. This range represents 39% of the active inventory and 54% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 70 days, a slight Seller’s Market. This range represents 18% of the active inventory and 22% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 92 days, a Balanced Market.
  • For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the Expected Market Time increased from 107 to 118 days. For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 167 to 149 days. For luxury homes priced between $2 million and $4 million, the Expected Market Time decreased from 302 to 254 days. For luxury homes priced above $4 million, the Expected Market Time increased from 419 to 441 days. • The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 16% of demand.
  • Distressed homes, both short sales and foreclosures combined, made up only 0.7% of all listings and 1.4% of demand. There are only 21 foreclosures and 32 short sales available to purchase today in all of Orange County, 53 total distressed homes on the active market, down 12 in the last two-weeks. Last year there were 50 total distressed homes on the market, nearly identical to today.
  • There were 2,929 closed residential resales in May, 2% more than May 2018’s 2,870 closed sales. April marked a 15% increase from April 2019. The sales to list price ratio was 97.6% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales, and short sales accounted for 0.6%. That means that 98.6% of all sales were good ol’ fashioned sellers with equity.

What's the Value of my Orange County Home?


With all seriousness, if your goal is to move this year, we need to talk today! With the low interest rates and increase in inventory the opportunity to sell now and purchase your move up property has a golden opportunity.  But the window is short before.  Don't hesitate to contact me for a confidential review of your goals.  Whether it is this year or next, developing a plan of action is key to getting your home sold for Top Dollar!


Thursday, June 6, 2019

MAJOR PRICE REDUCTION - 21 ROSEWOOD, ALISO VIEJO

Don't miss this Open House! We will only be open Saturday 1-4 at 21 Rosewood in Aliso Viejo.  Our Seller is ready for their new home and has reduced the price of this home $30,000.

21 Rosewood, Aliso Viejo

Welcome home to this stunning 3 bedroom home nestled in one of the most highly sought after Glenwood Park community in Aliso Viejo. This beautiful townhome features three light and bright bedrooms, 2 1/2 bathrooms and boasts gorgeous maple wood floors, vaulted ceilings, dual pane windows, smart home throughout, custom designer paint, open kitchen with upgraded granite countertops, light wood cabinets, beautiful upgraded stainless steel appliances, Recessed lighting, spacious eating area off the kitchen, All 3 bedrooms are upgraded with mirrored closet doors and ceiling fans. The master bathroom is equipped with his and her sink and a lovely walk in shower. The home features an oversized 2 car garage with direct access to the house and plenty of storage space! The Spacious and very private patio is perfect for family barbeques. In addition, the home has recently been repiped by the HOA and has a brand new water heater and a newer HVAC system. This community offers Resort style amenities including a swimming pool, spa, gym, tennis courts, playground, tennis courts, clubhouse and community parks. Glenwood Park is conveniently located close to Aliso Viejo Town Center, an abundance of walking and hiking trails, world class mountain bike riding, majestic beaches, luxury resorts and Blue Ribbon Schools. Do not miss this opportunity to live minutes away from the glorious California coastline and the superb resort style living Aliso Viejo offers.

Open House 21 Rosewood, Aliso Viejo


Don't hesitate to contact me with any questions about the property to schedule a showing for homes nearby.

Tuesday, May 28, 2019

Let's Play the Price is Right

Is it possible that seller's overpricing their home is what is has lead to an increase of 64% of expired listings? 

It is important to remember always, the primary reason why homes do not sale is price!





A good analogy of what has happened in the OC real estate market is Garage Sales.  Spring is in the air and so are the community garage sales. There is a real strategy behind a successful garage sale. For the amateur trying to overcapitalize on their used possessions, they often overprice and miss the opportunity to cash in on the most optimal time of the sale, the first two hours. Everybody seemingly gets sucked into the emotions behind their personal belongings. This emotional attachment leads to asking way too much. After a steady stream of uninterested buyers because of the quoted price, the amateur salesperson lowers it. Yet, the wave of initial buyers has already passed, and the steady stream diminishes to a trickle. Desperate to sale, the price is lowered yet again, attempting to avoid carting everything back to the garage and attic.

This scenario plays out over and over again on the housing front as well. Sellers frequently ignore their professional REALTOR® and price a home arbitrarily based upon emotion, or what they need out of a home in order to move on. It is challenging to see all of the deferred maintenance, lack of upgrades, an inferior location, or a small lot size, when a seller is living LIFE in it. Home is where the children are raised. First steps, first time riding a bike, first tooth for the Tooth Fairy, first day of school, first dance, there are a lot of “firsts” in a home, a collection of memories that tug at our heartstrings. 

Ignoring the expert on pricing advice is understandable, but unfortunate. The best advice is to lean into their years of experience and understanding of current market conditions, trends, and pricing strategies. The emotions behind pricing must be removed to find success. A buyer’s lens is much different. They do not want to inherit deferred maintenance. They want to see upgrades. The location and lot size are important considerations. Most importantly, buyers are not willing to overpay for a home, especially in 2019. 

The active listing inventory is at its highest level since 2011. There are 29% more homes on the market compared to last year. With more inventory, the number of unsuccessful sellers is escalating. So far this year, there have been 3,455 expired listings, up 64% compared to last year. Based upon the number of closed sales through April, 30% of homes that were marketed did not find success. At this time last year, it was only 17%. 

Summary of OC Real Estate Market

  • The active listing inventory increased by 228 homes in the past two weeks, up 3%, and now totals 7,413, the highest level since September 2014. Last year, there were 5,730 homes on the market, 1,683 fewer than today. There are 29% more homes than last year.
  • Demand, the number of pending sales over the prior month, increased by 2 pending sales in the past two-weeks, nearly unchanged, and now totals 2,655. Last year, there were 2,726 pending sales, 3% more than today.
  • The Expected Market Time for all of Orange County increased from 81 days two weeks ago to 84 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 63 days last year.
  • For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 61 days. This range represents 39% of the active inventory and 54% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 63 days, a slight Seller’s Market. This range represents 18% of the active inventory and 24% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 93 days, a Balanced Market.
  • For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time decreased from 128 to 125 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 134 to 174 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 228 to 262 days. For luxury homes priced above $4 million, the expected market time increased from 463 to 568 days.
  • The luxury end, all homes above $1.25 million, accounts for 34% of the inventory and only 14% of demand.
  • Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.4% of demand. There are only 22 foreclosures and 41 short sales available to purchase today in all of Orange County, 63 total distressed homes on the active market, down 5 in the last two-weeks. Last year there were 42 total distressed homes on the market, fewer than today.
  • There were 2,558 closed residential resales in April, 2% fewer than April 2018’s 2,614 closed sales. April marked a 13% increase from March 2019. The sales to list price ratio was 97.9% for all of Orange County. Foreclosures accounted for just 0.3% of all closed sales, and short sales accounted for 0.4%. That means that 99.3% of all sales were good ol’ fashioned sellers with equity.

For a full copy of this report, click here

How Much Equity Does My  Orange County Home Have


With the reduction in Interest Rates and increase in Inventory, the Spring Selling Season is in full swing.  However, with the summer distractions coming, the time to sell your home is now!  Don't hesitate to give me a call about the current real estate market in your area.


Thursday, May 23, 2019

Single Level Sold in Anaheim Hills

Congratulations to Vince and Irene on their recent home purchase!  We are very excited for you. We think you are going to enjoy the community of Canyon Terrace Estates

4465 E. Ardmore St. Anaheim Hills

About the home: Wonderful Anaheim hills 3 bedroom 2 bath single story home! Recently upgraded throughout with beautiful tile flooring in main areas, dual flat screens professionally installed above the great fireplace leading through the sliding glass doors to gorgeous panoramic views! Quality kitchen with upgraded cabinets, granite counter tops and stainless steel appliances, wine fridge, large bedrooms, upgraded bathrooms, custom etched windows and window coverings, crown moldings and base boards, tile roof. Large front and backyard makes this home ideal for entertainment. rear yard has a newly custom built covered patio and Gazebo overlooking the unobstructed views of the city lights.

Transaction Details:

Sold Date:   4/22/19
Sold Price:  $850,000
Buyer's Representation:  Chuck Harper

Monday, April 15, 2019

Mid April Real Estate Update


Attention Seller’s…Here comes the Competition

April: This is the time when more sellers come on the market than any other time of the year.






Isn’t it beautiful? Southern California hills are spectacularly adorned in a blanket of bright orange California Poppies. The record rainfall resulted in a “super bloom” like nobody can remember. People are venturing outside to capture the incredible site, hiking and taking selfies along the way. Spring is definitely here!

The record rainfall kept many homeowners from entering the fray and placing their homes on the market. Yet, the deluge of rain is now in the past. That was during the winter, but spring has arrived in housing as well and there is nothing keeping owners from pounding FOR SALE signs in their front yards. Like the blanket of California poppies, this is the time of the year when more FOR SALE signs blanket neighborhoods in Southern California and across the U.S. than any other time of the year. 

Nearly a third of all homes that are placed on the market during the year occur from April through June. There has already been an uptick in the number of homes coming on the market within the last couple of weeks. As a result, the active listing inventory in Orange County grew by 5%, adding an additional 344 homes. It now sits at 6,876 homes, its highest level since mid-November of 2018. 

Right now, it is the best time of the year to sell a home in terms of buyer demand. Demand is currently increasing as well, growing by 4% in the past two weeks. It will peak by mid-May. Yet, even with increasing demand, it does not mean that the market is getting hotter. In fact, what you see is what you get. The market will not improve any more than where it is today. This is due to the fact that while demand is rising, so is the active listing inventory. The inventory is rising slightly faster than demand. The added seller competition is offsetting any improvement in demand. 

In looking at the Expected Market Time for Orange County (that is the number of days from coming on the market to opening escrow), it has dropped like a rock from the beginning of the year, transitioning from a slight Buyer’s Market to a Balanced Market to a slight Seller’s Market, where it stands today. It dropped from 152 days on January 10th to 84 days today. 

For those sellers holding their collective breath in anticipation of a hot Spring, that is not going to occur. Instead, it will be a lukewarm housing market. The current Expected Market Time of 84 days is the highest level for this time of the year since 2011. Last year at this time it was a HOT Seller’s Market and the Expected Market Time was at 54 days. 


SELLER’S BEWARE:  Last year at this time there were 4,708 homes on the market. That means that there are 46% more homes available today. This is the highest level of homes on the market for this time of the year since 2011. 

Overall Summary:

The active listing inventory increased by 344 homes in the past two weeks, up 5%, and now totals 6,876. Last year, there were 4,708 homes on the market, 2,168 fewer than today. There are 46% more homes than last year.
So far this year, 3% fewer homes came on the market below $500,000 compared to 2018, and there were 15% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is continuing to vanish.
Demand, the number of pending sales over the prior month, increased by 95 pending sales in the past two-weeks, up 4%, and now totals 2,445, its lowest level for this time of the year since 2008. Last year, there were 2,602 pending sales, 6% more than today.
The Expected Market Time for all of Orange County increased from 83 days two weeks ago to 84 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 54 days last year.
For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 62 days. This range represents 41% of the active inventory and 55% of demand.
For homes priced between $750,000 and $1 million, the expected market time is 73 days, a slight Seller’s Market. This range represents 18% of the active inventory and 21% of demand.

Find the Value of Your Home Today!


For homes priced between $1 million to $1.25 million, the expected market time is 90 days, a slight Seller’s Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time increased from 103 to 109 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 146 to 154 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 230 to 222 days. For luxury homes priced above $4 million, the expected market time decreased from 562 to 466 days. 
The luxury end, all homes above $1.25 million, accounts for 32% of the inventory and only 16% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.8% of demand. There are only 19 foreclosures and 30 short sales available to purchase today in all of Orange County, 49 total distressed homes on the active market, down two from two-weeks ago. Last year there were 39 total distressed homes on the market, slightly less than today.
There were 2,265 closed residential resales in March, 13% fewer than March 2018’s 2,613 closed sales. March marked a 47% increase from February 2019. The sales to list price ratio was 97.3% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.5%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

Don't hesitate to give us a call to review the market in your area. Real Estate is very hyper local and having an Agent that understands the overall market and how to drill it down to your local area is key in getting you top dollar!

For a full copy of this report, click here!



Monday, April 8, 2019

Modern and Bright - 23772 Colima Bay, Dana Point Sold by Realtor Chuck Harper

Congratulations to our clients on the purchase of their new home in the community of Niguel Shores in Dana Point.  We know you are going to be very happy in this amazing home!

Just Sold 23772 Colima Bay Dana Point

About The Home:

Located in the guard gated community of Niguel Shores. This beautifully upgraded and expanded single level with open floor plan features 3 br/2 ba, remodeled kitchen with Ceasarstone countertops, custom designed tile backsplash, "spa" style upgraded baths, new porcelain flooring, highly upgraded throughout. The contemporary floor plan flows seamlessly with open beamed ceilings into a "great room" designed for entertaining. The indoor /outdoor gas fireplace opens from the living room onto the exterior patio which has room for expansion. The kitchen has a view of the expansive front yard and patio courtyard. The home boasts an abundance of natural sunlight through the large windows & skylights. 

The Niguel Shores community offers private "beach front" parking to Strands beach, a bluff top ocean front green for barbecuing and entertaining, multi- million dollar Clubhouse, tennis courts, 24 hour gate attendant, sand volleyball court, sports courts, park and tot lot, Jr Olympic size pool & spa. Low tax & association dues. The RITZ CARLTON and MONARCH BEACH resorts are both within walking distance. Just a short drive from Dana Point Harbor and Laguna Beach.

If you are thinking of making a move or looking for a new place to call home, don't hesitate to reach out to us.  Or goal is to ensure your real estate goals are met! 



Transaction details:

  • Sold: 4/1/19
  • Sold Price: $1,399,000
  • Buyers Agent:  Chuck Harper with Z-Team at Keller Williams Mission Viejo



Monday, April 1, 2019

Spring OC Real Estate Snapshot - Low Interest Rates put the Spring in the Market.

Spring has sprung in Orange County with the recent reduction in Interest Rates, to the lowest rates in over a year and no anticipated rate increases for the remainder of 2019. We took a look at the current numbers for the OC real estate market.. take a peek below for a summary of what we are seeing.





With the recent drops in interest rates, the spring market has completely blossomed and should stay very active with more homes coming on to the market through May.   For buyers looking at a $500,000 mortgage, the drop has resulted in a savings of $224 per month compared to last November. That is an annual savings of $2,688, or $13,440 in 5 years. The savings are even more substantial for higher mortgage amounts.  Now is the time to take full advantage of the low rates!


Summary of the Orange County Real Estate Market:

The active listing inventory increased by 166 homes in the past two weeks, up 3%, and now totals 6,532. Last year, there were 4,609 homes on the market, 1,923 fewer than today. There are 42% more homes than last year - more opportunity for buyers.
So far this year, 4% fewer homes came on the market below $500,000 compared to 2018, and there were 15% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is continuing to vanish.
Demand, the number of pending sales over the prior month, increased by 78 pending sales in the past two-weeks, up 3%, and now totals 2,350, its lowest level for this time of the year since 2014. Last year, there were 2,538 pending sales, 8% more than today.
The Expected Market Time for all of Orange County decreased from 84 days two weeks ago to 83 days today, a slight Seller’s Market (between 60 to 90 days) and the highest level for this time of the year since 2011. It was at 54 days last year.
For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 64 days. This range represents 42% of the active inventory and 54% of demand.

Search Available Homes below $750,000


For homes priced between $750,000 and $1 million, the expected market time is 66 days, a slight Seller’s Market. This range represents 18% of the active inventory and 22% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 85 days, a slight Seller’s Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time increased from 95 to 103 days. For homes priced between $1.5 million and $2 million, the expected market time increased from 140 to 146 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 245 to 230 days. For luxury homes priced above $4 million, the expected market time decreased from 650 to 562 days.
The luxury end, all homes above $1.25 million, accounts for 32% of the inventory and only 16% of demand.
Distressed homes, both short sales and foreclosures combined, made up only 0.8% of all listings and 1.8% of demand. There are only 19 foreclosures and 30 short sales available to purchase today in all of Orange County, 49 total distressed homes on the active market, down two from two-weeks ago. Last year there were 39 total distressed homes on the market, slightly less than today.
There were 1,543 closed residential resales in February, 15% fewer than February 2018’s 1,820 closed sales. February marked a 6% increase from January 2019. The sales to list price ratio was 97.4% for all of Orange County. Foreclosures accounted for just 0.3% of all closed sales, and short sales accounted for 0.6%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.

If you are thinking of buying, it is time to get off the fence and take advantage of both the increase in inventory (less competition) and the reduced interest rates (cost savings).

What's the Current Value of Your Home


For the full report Click Here!

Don't hesitate to give us a call with any questions you may have about the current real estate market in your neighborhood.




Sunday, March 17, 2019

Single-Level Home Sold in Mission Viejo

Congratulations to our client on the successful sale of her home in Mission Viejo at 22871 Pocetas.  

Sold by Realtor Chuck Harper 22871 Pocetas, Mission Viejo

About the Home

This craftsman style, single level home looks like it came straight from Currier and Ives holiday card. This quaint, but spacious 3-bedroom, 2,300 sf. , home was located on a culdesac within a short walk of Lake Mission Viejo.  It was  completely renovated/remodeled inside and out and top to bottom since purchase; new kitchen, master bath, refurbished/re-stained shake shingle siding, Frank Lloyd Wright style craftsman front door, hickory floors with wood accent beams in the living, family and dining rooms, double side fireplace between the dining room and living room, a separate fireplace in the family room and PEX piping. The Kitchen offers travertine floors, granite counter tops, stylish wood cabinets and Kitchenaid appliances. Located on a private 7,200 sf. lot. this home was perfect for the new home buyers.
Searching for a home in Mission Viejo or throughout South Orange County, don't hesitate to give us a call.

About Mission Viejo

Mission Viejo is a Orange County community with a population of 96,535 residents. Often rated as one of the best places to live in California. Living in Mission Viejo offers residents an urban feel with Lake Mission Viejo at the center of the community. The public schools in Mission Viejo are highly rated. There are plenty of activities with restaurants and shopping located throughout the community.  Don't hesitate to contact us direct to review the real estate market in Mission Viejo. 

Saturday, March 2, 2019

Are OC Homeowners staying put?


Lack of Sellers continues to affect home buyers in Orange County, is the the effects of the Great Recession 10 years later? Fewer homeowners are opting to sell in spite of homes appreciating to record levels. 



Millions flock to the Hawaiian Islands to escape the grind of everyday life and bask in the tropical sun and warm waters. After relaxing for hours on the sand and swimming in the aqua blue surf, so many vacationers forget to reapply sunscreen. Upon returning to the hotel room, the inevitable has occurred. Looking in the mirror they confirm they have a lobster red sunburn from head to toe. Nearly everybody has experienced the pain of a deep sunburn. It is hard to sleep, hard to take showers, and hard to go back out in the sunshine again. The pain is a reminder to never forget to reapply sunscreen again. 

Similarly, homeowners across the nation watched the housing market take a pounding during the Great Recession as their equity vanished in a blink. Many lost their homes to short sales or foreclosures. Everybody either personally got stung by the correction or knew of somebody who did. As a result, a new trend emerged to avoid a lobster red burn in the future: homeowners stay in their homes a lot longer. There are far fewer homeowners who opt to sell every year. Even with record home values, the trend continues.  

Below is a summary of the Orange County Real Estate Market for March 2019:

The active listing inventory increased by 194 homes in the past two weeks, up 3%, and now totals 6,294. Last year, there were 4,178 homes on the market, 2,116 fewer than today. There are 51% more homes than last year.
In January, 2% fewer homes came on the market below $500,000 compared to 2018, and there were 19% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is continuing to vanish.
Demand, the number of pending sales over the prior month, continued its rapidly rise in the past two-weeks, climbing by 297 pending sales, up 17%, and now totals 2,088, its lowest level for this time of the year since 2008. Last year, there were 2,441 pending sales, 17% more than today.
The Expected Market Time for all of Orange County decreased from 102 days two weeks ago to 90 days today, a Balanced Market (between 90 to 120 days) and the highest level for this time of the year since 2011. It was at 51 days last year.
For homes priced below $750,000, the market is a slight Seller’s Market (between 60 and 90 days) with an expected market time of 72 days. This range represents 44% of the active inventory and 55% of demand.

SEARCH ORANGE COUNTY AVAILABLE HOMES UNDER $750,000


For homes priced between $750,000 and $1 million, the expected market time is 67 days, a slight Seller’s Market. This range represents 17% of the active inventory and 24% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 96 days, a Balanced Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time decreased from 144 to 132 days. For homes priced between $1.5 million and $2 million, the expected market time decreased from 209 to 173 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 241 to 234 days. For luxury homes priced above $4 million, the expected market time decreased from 582 to 573 days. 
The luxury end, all homes above $1.25 million, accounts for 31% of the inventory and only 14% of demand.

AVAILABLE LUXURY HOMES IN ORANGE COUNTY


Distressed homes, both short sales and foreclosures combined, made up only 0.9% of all listings and 1.3% of demand. There are only 21 foreclosures and 37 short sales available to purchase today in all of Orange County, 58 total distressed homes on the active market, down one from two-weeks ago. Last year there were 40 total distressed homes on the market, slightly less than today.
There were 1,461 closed residential resales in January, 19% fewer than January 2018’s 1,800 closed sales. January marked an 18% drop from December 2018. The sales to list price ratio was 96.7% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales, and short sales accounted for 0.6%. That means that 98.6% of all sales were good ol’ fashioned sellers with equity.

To read the entire OC market report, Click Here!

For our business 2019 has started off very busy when the first of the year is generally a bit quiet.  South Orange County, is in high demand with 2018, the markets with the best turnover rates were in South Orange County and along the coast. From the south, Ladera Ranch and Rancho Mission Viejo top the list once again with a turnover rate of once every 11 years.  Laguna Woods, Coto de Caza, San Juan Capistrano and Dove Canyon, all from the south, are all turning over faster than the rest of the county. Newport Coast and Corona del Mar, two of the most expensive zip codes in the county, also made the top eight list. 

If you are thinking of making a move in 2019, now is the time to capture the market before inventory increases.  It is a very short window to capture the best time to sell.  As the rule of supply goes, less supply and high demand equal a sellers market.   As demand will increase the closer we get to summer and most like tap out mid-july, now is the time list and get your home sold!  Don't hesitate to contact me direct for a quick review of the market in your neighborhood.

Wednesday, January 30, 2019

Demand Increase in the OC Market


Are we in a Housing Thaw? With rising demand, the housing market is starting to move its way towards a Balanced Market. 








It is a Southern California chilly morning. You climb into your car for the daily commute to the office and blast the heater, but it blows cold air because the engine is not hot yet. Your fingers are numb, and you cannot wait for the temperature to start to rise. After a couple of minutes, the blowing air begins to warm. That is precisely how the housing market starts every year. Housing’s engine is cold on the first of January and takes a few weeks to heat up. This year is no exception, the market is finally starting to warm up a bit. 

The housing market in 2019 started off a lot colder than everybody had been accustom to. It was the coldest start since 2011 with an Expected Market Time of 152 days, Buyer’s Market territory (the Expected Market Time is the amount of time it would take to place a home on the market today and enter escrow down the road). But, in the past couple of weeks, the market began its annual thaw. 

Summary of the OC Real Estate Market:

The active listing inventory increased by 211 homes in the past two weeks and now totals 6,122, a 4% rise. Last year, there were 3,774 homes on the market, 2,348 fewer than today. There are 62% more homes than last year.
In 2018, 11% fewer homes came on the market below $500,000 compared to 2017, and there were 26% fewer closed sales. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly vanishing.
Demand, the number of pending sales over the prior month, climbed in the past two-weeks by 270 pending sales, up 21%, and now totals 1,435, its lowest level for this time of the year since 2008. Last year, there were 1,764 pending sales, 23% more than today.
The Expected Market Time for all of Orange County decreased from 152 days two weeks ago to 128 days today, a slight Buyer’s Market (between 120 to 150 days) and the highest level for this time of the year since 2011. It was at 64 days last year.
For homes priced below $750,000, the market is a Balanced Market (between 90 and 120 days) with an expected market time of 97 days. This range represents 44% of the active inventory and 58% of demand.

Search Laguna Niguel Homes under $750,000


For homes priced between $750,000 and $1 million, the expected market time is 102 days, a Balanced Market. This range represents 18% of the active inventory and 23% of demand.
For homes priced between $1 million to $1.25 million, the expected market time is 156 days, a Buyer’s Market.
For luxury homes priced between $1.25 million and $1.5 million, in the past two weeks, the expected market time decreased from 252 to 185 days. For homes priced between $1.5 million and $2 million, the expected market time decreased from 365 to 305 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 347 to 314 days. For luxury homes priced above $4 million, the expected market time decreased from 1,279 to 794 days. 
The luxury end, all homes above $1.25 million, accounts for 30% of the inventory and only 13% of demand.

Search Laguna Niguel Luxury Homes


Distressed homes, both short sales and foreclosures combined, made up only 0.9% of all listings and 2.1% of demand. There are only 17 foreclosures and 39 short sales available to purchase today in all of Orange County, 56 total distressed homes on the active market, down 11 from two-weeks ago. Last year there were 47 total distressed homes on the market, slightly less than today.
There were 1,789 closed residential resales in December, 21% fewer than December 2017’s 2,269. December marked a 12% drop over November 2018. The sales to list price ratio was 96.3% for all of Orange County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.7%. That means that 98.9% of all sales were good ol’ fashioned sellers with equity.

For a full copy of this report, please click here!

If you are thinking of a move in 2019, don't hesitate to give me a call to review the market in your neighborhood.  With increased demand now and lower rates, now is a perfect time to get top dollar for your home.