Huge News for Orange County CA Homebuyers Mortgage Rates Stayed Down

Purchase money lending

Fantastic news for homebuyers is that home loan mortgage rates at Orange County CA went down big-time during 2014 and stayed down.

4.5% was the average rate on a 30-year fixed loan offered by lenders one year ago today –  see article from that time –Mortgage rate watch report for December 28, 2013.

Average payment on a $417k conforming loan one year ago was $2,113 per month.

3.75% is the average rate offered by lenders on a 30-year fixed loan at Orange County today on December 29, 2014 (for those who qualify) –  see article –Mortgage rate watch report for December 28, 2014.

Average payment on that same $417k loan is now $1,930 per month (for those who qualify).

So a monthly payment on that $417k loan now will save a homebuyer $183 per month as compared with same time last year.

What this means is that prospective homebuyers should get organized, qualified or pre-approved with a lender, and move forward with decisions to buy now!

Coldwell Banker residential brokerage

 

 

By Harrison K. Long, Realtor, real estate broker, and professional real estate representative at Orange County CA.    

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

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East Costa Mesa CA Home Selling Market Trends

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

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

 

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

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

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

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

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

See East Costa Mesa homes for sale here.

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

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Contact us with questions about East Costa Mesa homes and about listing and sale of your home at Orange County CA. ~ Professional REALTOR® agent representation and help for home and property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at East Costa Mesa and Orange County CA.

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Now is a Great Time for Orange County CA Home Buying

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

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

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

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

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

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

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

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

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

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

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

 

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is Steven Thomas and his ReportsOnHousing.com.

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

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

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Irvine CA Home Selling 2014 Midyear Update

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

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

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

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

5 Shade Tree, sold, 6-30-2014

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

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

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

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

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

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

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

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Connect with us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

Find out here what your Irvine CA home is worth

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Open house Saturday, July 12, 2014 – at 3163 Watermarke Place, Irvine CA

Open house Saturday, July 12, 2014 – at 3163 Watermarke Place, Irvine CA

20 copy_10569060515_l3163 Watermarke with view toward Meditation Gardens

Best location and view Carlton Arms model on the market.

 

 

 

 

 

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Beautiful, upgraded Watermarke home with premium lot location on the peaceful Meditation Garden!

 

 

open house welcome

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Well designed floor plan with open-concept kitchen, dining and living area.

 

 

 

 

17 copy_10569344113_lNatural light, volume ceilings and wood floors throughout.

 

 

 

 

Featuring convenience and privacy

22 copy_10569326303_lIdeal first evel location makes coming and going easy, with no steps to very close private parking space in gated garage.

 

 

 

15 copy_10569146834_lGorgeous kitchen with granite counters, white cabinets to ceiling, stainless steel appliances including 5-burner gas range, and built-in desk & cabinets.

 

 

 

18 copy_10569066995_lSpacious master bedroom has views of tranquil garden, trees & fountain, plus walk-in closet, ceiling fan and new carpet.

 

 

 

19 copy_10569135284_lAdjacent bathroom with granite counters. Inside laundry. Private patio next to Garden. Owners loved and cared for this home.

 

 

 

-Experience the Watermarke resort-style life with amenities including Clubhouse, Concierge service …

 

 

 

 

watermarke homes, 2013-Q-… sparkling pools and spas, fitness center, tennis and basketball courts …

 

 

 

watermarke homes, 2013-W-… movie theater, game room, and business center.

 

 

 

 

3163 Watermarke Place, 7-10-2014

watermarke homes, 2013-I-Watermarke is centrally located near the Irvine business center, Irvine Spectrum, Newport Beach, Orange County airport, UC Irvine, San Joaquin Wildlife Sanctuary walking/running trails, South Coast Plaza & easy freeway access.

 

3163 Watermarke Place – Offered at $384,000 – MLS no. OC14118459

Presented by Harrison and Christi Long, Realtors and professional real estate representatives, Coldwell Banker Residential Brokerage, Irvine and Orange County CA – CAL BRE 01410855 – 949-701-2515 (cell).

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Changing Orange County Home Selling Trends First Half 2014

Home Selling Changed Trends at Orange County First Half 2014

Orange County CA home selling trends changed drastically during first half of 2014 – as compared with first half of 2013.

Orange County no longer has the crushing buyer demand as presented during first part of last year 2013.

Inventory number of homes for sale has been up since middle of 2013, and over-pricing by home sellers no longer gets them good results.

Buyers have more opportunities and are now looking again to pay fair market value.

First half of 2014 brought on a seriously increased number of homes for sale inventory – which at Orange County is now 7,550 (40 percent more than last year) and still going up.

Orange County home buyer demand is determined by looking at number of number of new pending sales over the prior month. This is lower this year with current demand about 15 percent less than same time during 2013.

Expected market time – average time it would theoretically take to sell all homes now listed for sale – with an increasing inventory and less demand, is now at about 90 days in Orange County – longer time as compared with past two years.

However, average market time at about 3 months still shows a market favoring sellers.

Orange County annual home price appreciation is no longer blistering and has moderated down to 3 to 5% per year.

Home sellers still have some control where they fix up and stage their homes, carefully list price their homes close to fair market value, and be realistic on expectations.

With rise in Orange County home values the past two years, fewer homeowners are underwater, and there are fewer short sales.

It’s clear that buyers have more opportunity now at Orange County and that home sellers need to price their homes close to reality and use fair market value in order to get best results.

Coldwell Banker residential brokerage

Coldwell Banker previews

By Harrison K. Long. Source of some information is Steven Thomas and his Orange County Housing Report. We provide professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Contact us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

Posted in Explore the OC, Listing and selling homes, OC property value guide, Orange County CA, Orange County home selling, Orange County real estate | Tagged , , , , , , , , , , , , , , , | Leave a comment

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

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

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

 

 

 

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

 

 

 

 

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

 

 

 

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

 

 

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

 

 

 

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

Inside laundry room.

Private patio next to Garden.

 

 

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

 

 

 

 

Schedule a party at the Clubhouse with the ConciergeConcierge service,

 

 

 

 

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

 

 

 

 

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

 

 

 

 

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

 

 

3163 Watermarke Place

Home offered at $384,000 – CRMLS #OC14118459

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

Coldwell Banker residential brokerage

By Harrison K. Long. We provide Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Contact us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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Turtle Rock Irvine CA Home Selling Prices at an All-Time High

Turtle Rock Irvine CA Home Selling Prices are at an All-Time High.

Turtle Rock continues to be one of the most sought-after community locations for residential living and home buying in Orange County.

Turtle Rock home buyers were hot and busy last year during 2013, and home prices jumped with so few homes available for buyers.

Although home selling pace at Turtle Rock has moderated slightly this year, home selling prices are up more than 20 percent as compared with same time last year.

Turtle Rock has sold 39 homes so far this year through May 29, 2014 – with average sold price of $1,270,046.

Turtle Rock sold 44 homes last year during the same time – with average sold price of $1,054,830.

Home selling prices at Turtle Rock are still jumping even more – with 11 homes sold during the past 30 days (from April 28 to May 29, 2014) – and average home sold price of $1,441,527.

Some of the recent sales at Turtle Rock were homes with views and significant remodels, so prices were especially high.

Even though Turtle Rock Irvine home selling average prices are at an all-time high, this price average, we expect this to moderate somewhat for the remainder of 2014.

Turtle Rock Irvine now has 33 homes listed for sale (including detached single family homes and condominiums) – with average list price of $1,296,557.

Our Turtle Rock Irvine home selling prices and market update shows that we are still a sellers’ market with high home selling prices. However, buyers have more options and listings to consider than last year.

Coldwell Banker residential brokerage

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

We provide Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Contact us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

Turtle Rock Irvine CA Home Selling Prices at an All-Time High

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Irvine CA Home Selling and Market Value Prices Update

Irvine CA Home Selling and Market Value Prices Update

Irvine CA and Orange County home selling prices are determined with focus on comparable sales and fair market value.

615 Irvine homes are listed for sale as of today – which is a 22 percent increase since two months ago.

Irvine CA home selling remains solid. However, with more homes listed for sale now – as compared with the same time last year and 60 days ago – buyers have more choices.

Irvine homes for sale are staying on the market longer on average these days as compared with same time last year.

Average home sold homes and prices at the following Irvine communities during the past sixty days – from March 14 to May 15, 2014 – can be a guide for fair market value:

  • Airport Area Irvine – 28 homes sold – average sold price of $542,763
  • El Camino Real Irvine – 21 homes sold – average sold price of $609,030
  • Northpark Irvine – 31 homes sold – average sold price of $841,852
  • Northwood Irvine – 77 homes sold – average sold price of $753,758
  • Oak Creek Irvine – 9 homes sold – average sold price of $540,110
  • Portola Springs Irvine – 26 homes sold – average sold price of $775,315
  • Quail Hill Irvine – 18 homes sold – average sold price of $674,478
  • Shady Canyon Irvine – 5 homes sold – average sold price of $5,040,000
  • Stonegate Irvine – 13 homes sold – average sold price of $844,213
  • Turtle Ridge Irvine – 14 homes sold – average sold price of $1,530,314
  • Turtle Rock Irvine – 21 homes sold – average sold price of $1,318,419
  • University Park Irvine – 15 homes sold – average sold price of $746,759
  • Westpark Irvine – 35 homes sold – average sold price of $589,750
  • Woodbridge Irvine – 56 homes sold – average sold price of $650,238
  • Woodbury Irvine – 28 homes sold – average sold price of $669,610
  • Irvine CA all village areas – 463 homes sold during the past sixty days – average sold price of $796,704

Irvine CA home selling is more balanced this year – with sellers facing competition from other sellers who are smart about value and pricing. Sellers need to look carefully at comparable sales data and determine fair market value – which is what buyers are willing to pay – with not so much focus on what sellers want to get.

Coldwell Banker residential brokerage

By Harrison K. Long. This information is from CRMLS multiple listing service and is for homes resold by all agents and brokers. We provide Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Connect with us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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California Legislature Considers New Tax on Homeowners – SB 391

California Legislature Considers New Tax on Homeowners – SB 391

The CA state legislature has been considering a new tax that would be imposed on homeowners who need to record certain documents with their counties.

This $75 per document tax will be imposed on a variety of documents, which will include, for example, documents related to refinancing properties, taking properties in and out of trusts, making lot line adjustments, obtaining constructions loans and upon the death of a spouse.

This new tax would also apply to foreclosures (the owner would be responsible, not the lender) and filing mechanics liens.

Example: It is not untypical in a refinance, for six documents to be subject to the new tax, resulting in a tax total of $552. If a spouse dies, up to five documents need to be recorded, creating a total tax of $440 including existing recording fees.

SB 391 is in the Assembly Appropriations Committee.

The CALIFORNIA ASSOCIATION OF REALTORS® is opposing this bill.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of information is the California Association of Realtors.

We offer Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Connect with us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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