Wednesday, February 6, 2019

FEBRUARY 2019 ORANGE COUNTY REAL ESTATE NEWS

 HORTON TEAM NEWSLETTER

 February 2019

Forbes 2018 Best Places to Retire
This year's roundup spotlights 25 cities in 18 different states across the country. They were selected based on an assortment of retirement-friendly features—from walkability to affordability—as well as data from the Milken Institute, National Association of Realtors, Bureau of Labor Statistics and more.



Take a look at the list here, beautifully presented and broken down by region.


*Did you know? If considering an out of area move, we can assist in finding an agent anywhere in the country! Ask us how.

Mortgage rates rise for the first time in 2019, but are expected to fall from there


Rates for home loans ticked up slightly, but look set to fall in the coming weeks as investors gird for a slower-growth economy.

Demand for assets like Treasurys, which are considered safe havens, has strengthened in recent weeks as investors have concerns about slowing global economic growth. Bond yields decline as prices rise.

In the wake of the Federal Reserve’s decision Wednesday to stand pat on interest rate increases, investor interest in bonds has surged, sending yields down again, including the longer end of the Treasury yield curve that more directly impacts mortgage rates. The sentiment change is because bonds may look like a better long-term investment than stocks as the economy weakens, and if inflation and interest rates remain steady, fixed-income assets won’t erode in value.

That’s certainly a boon for house-hunters. Yet the same housing headwinds that battered the market in 2018 remain: limited supply of properties at the prices demanded by most Americans.

CURRENTLY LISTED

397 WEYMOUTH PL, LAGUNA BEACH  $7,750,000

WWW.397WEYMOUTH.COM

1585 SOUTH COAST HIGHWAY #4, LAGUNA BEACH  $1,999,000

WWW.1585COAST4.COM

480 THALIA ST, LAGUNA BEACH  $1,779,000

WWW.480THALIA.COM

934 LA MIRADA ST, LAGUNA BEACH  $1,649,000

WWW.934LAMIRADA.COM

1098 WYKOFF WAY, LAGUNA BEACH  $1,599,000

WWW.1098WYKOFF.COM

1489 REGATTA RD, LAGUNA BEACH  $1,495,000

WWW.1489REGATTA.COM

1490 Del Mar Ave, Laguna Beach  $1,459,000

WWW.1490DELMAR.COM

605 GLOMSTAD, LAGUNA BEACH  $1,295,000

WWW.605GLOMSTADLN.COM

February 2019 Laguna Beach Statistics

Active - 235
Pending - 43
Sold in January - 22

3 - Less than $1,000,000
8 - $1,000,000 - $2,000,000 
5 - $2,000,000 - $3,000,000
4 - $3,000,000 - $5,000,000
2 - $5,000,000+

 

LEARN MORE
agent-photo

Amanda Horton 
Pamela Horton
Jace Horton


The Horton Team provides a comprehensive source of information and services for anyone buying or selling property. Their services are of the highest quality, guaranteed with proven results.

C 949.422.6122
F 949.464.3371
Amanda@AmandaHorton.com
HortonsInLaguna.com
BRE#01357056
BRE#01013024
BRE#02050612

Monday, January 28, 2019

JANUARY 2019 ORANGE COUNTY REAL ESTATE NEWS

HORTON TEAM NEWSLETTER

January 2019

2019 HOUSING MARKET OUTLOOK: 

Source: OC Register - January 7th, 2019
Where are prices headed?

Thanks to rising mortgage rates, sales will continue to be sluggish and inventory will rise in the year ahead. Price gains will continue, but they will be comparatively small.
And yes, a recession could be on the horizon, but not before 2020, most economists agree.
“The very idea of asking when a recession is going to occur is silly,” said economist Christopher Thornberg, founding partner of Beacon Economics. “You need to ask why (it would occur). If you don’t have a why, no recession.”
So if you’re looking to buy a house to live in, experts interviewed said, go ahead — with some caveats. More on that later.
But if you’re looking to make a killing flipping houses, hold your horses.
“I think those days are over,” said Chapman University economist Jim Doti.


Fewer home sales
CAR’s forecast is blunt: California transactions will fall 3.3 percent in 2019, on top of a 3.2 percent drop in 2018.
That could be good for home shoppers: Less competition.
In Orange County, existing house and condo sales are projected to decrease 4.7 percent, according to Chapman.
This doesn’t mean the sky is falling, said real estate consultant Pat Veling, president of Brea-based Real Data Strategies.
“The market is correcting to a more normal condition,” Veling said. “The problem is, we haven’t seen a normal market in so long, people don’t know what it looks like.”
Mortgage rates to rise
Historically low mortgage rates helped fuel the market rebound of the past 6 1/2 years. Then came rate hikes, and sales started to slide.
Next year, forecasters say, rates will go still higher.
According to forecasts by UCLA, CAR, Chapman and Cal State Fullerton, mortgage rates will be in the 5.2-5.5 percent range by year’s end, compared to a 2018 average of 4.5 percent.
“Rising mortgage rates, lower housing affordability and rising levels of unsold housing are all rearing their heads,” the Chapman forecast said.

A good time to buy - really
Hindsight shows 2007 was a terrible time to buy a home while 2013 was a great time.
So what about today? Will 2019 be a good time to buy?
CAR asked California consumers that question in September. Seventy-eight percent said no.
Economists beg to differ, provided you stay put for at least five years, if you can find a house you can afford in a neighborhood and school district you like, then market ups and downs won’t affect you, said Green, the USC Lusk Center director.
“You buy a home when you can afford it,” added Anil Puri, director of Cal State Fullerton’s Woods Center for Economic Analysis and Forecasting. “Timing the housing market is like timing the stock market.” Meaning, it’s pretty hard to do.
Chapman’s Doti figured buying a home could pay off even if prices don’t go up much. If home prices rise just 2 percent a year over the next seven years, a home purchase could yield a better return than some stock market investments, he calculated.
“Even in this current housing correction,” Doti said, “buying a home is still a good long-run investment.”

CURRENTLY LISTED

397 WEYMOUTH PL, LAGUNA BEACH  $7,750,000

WWW.397WEYMOUTH.COM

2561 PARK AVE, LAGUNA BEACH  $3,099,000


WWW.2561PARK.COM

1585 S COAST HWY #4, LAGUNA BEACH  $1,999,000


WWW.1585COAST4.COM

1098 WYKOFF WAY, LAGUNA BEACH  $1,599,000


WWW.1098WYKOFF.COM

1489 REGATTA RD, LAGUNA BEACH  $1,549,000


WWW.1489REGATTA.COM

1490 DEL MAR AVE, LAGUNA BEACH  $1,459,000


WWW.1490DELMAR.COM

605 GLOMSTAD, LAGUNA BEACH  $1,295,000


WWW.605GLOMSTADLN.COM

DECEMBER 2018 LAGUNA BEACH STATISTICS

Active - 280
Pending - 34
Sold -  13 closed in December

1 - Less than $1,000,000
6 - $1,000,000 - $2,000,000
1 - $2,000,000 - $3,000,000
2 - $5,000,000 - $10,000000
1 - $10,147,500
1 - $17,500,000
1 - $19,000,000

LEARN MORE


THE HORTON TEAM

Amanda, Pamela & Jace Horton provide a comprehensive source of information and services for anyone buying or selling property. Their services are of the highest quality, guaranteed with proven results.

C 949.422.6122
Amanda@AmandaHorton.com
HortonsInLaguna.com
BRE#01357056
BRE#01013024
BRE#02050612

Thursday, December 6, 2018

DECEMBER 2018 ORANGE COUNTY REAL ESTATE NEWS

HORTON TEAM NEWSLETTER

December 2018

How's the Market?
Source, Realtor Magazine November 20, 2018

Where Are We?
The market has clearly started correcting over the past few months. Interest rates have risen, reducing affordability and dampening buyer demand. However, inventory is pushing above the anemic levels that fueled price growth, and now we have a more balanced market. This is not 2008, when home prices nationwide fell by 15 percent to 20 percent. 
 
Historically, sellers adjust slowly to changing markets and price their homes higher with room for negotiation. Many price reductions do not indicate a market adjustment but rather overzealous sellers or inexperienced agents coming back down to true market value. So although inventory has increased, there is still probably a lack of quality and fairly priced homes.
Where Are We Heading?
At this time of year, inventory naturally declines through Dec. 31 and picks up again in spring. Since we are ending 2018 with the highest inventory in years, it’s likely that spring will see more homes on the market than in the recent past. Yes, coupled with rising interest rates, this may cause more pricing pressure. Don’t forget, though, that the economy is stronger now than it was before the Great Recession. We are seeing now that eager buyers and investors are jumping on the real estate opportunities they find.

What Should You Do?
Focus on a long-term strategy and decisions you can afford. Temporary market fluctuations shouldn't matter. Buyers are advised to not overpay. Sellers should consider listing before the peak levels of inventory hit the market next spring. Pricing is crucial to not go too high with asking prices.



PREPPING YOUR HOME
Color your home sale a richer shade of green
Source, LA Times December 1, 2018
The restorative power of a fresh coat of paint should not be underestimated — but who knew the right color could fetch as much as $6,271 more for a home than expected?
The secrets of such color-cash wizardry come courtesy of Zillow, who analyzed 135,000 photos from homes sold around the country between 2010 and May 2018.

Black or charcoal front doors produced top $6K premium. Light taupe living rooms netted $2,793 more than homes with white or other color walls, and light blue bathrooms cashed out at $2,786 more.

Stash the warmer, more dramatic colors such as red, yellow and brown. Red kitchens knocked an alarming $2,310 off sales, brown dining rooms sliced $1,684, and sunny yellow exteriors melted $3,408 from sale prices. So much for happy hues.

“Lighter blues and neutrals, like grays — they’re really the new beige,” said Skylar Olsen, Zillow’s director of economic research and outreach.

Tuxedo kitchens, which have upper and lower cabinets painted contrasting colors, sold for a $1,547 premium, a finding of the 2018 Zillow study. A common pairing was white set off by black or dark navy blue.

Contrast, in fact, is embedded in a color that’s been trending since 2016: greige, a blend of the cooler light gray and warmer beige. When used on exteriors, greige netted sellers $3,496 more than similar homes painted a medium brown, or with tan stucco, according to the 2017 Zillow study. Greige is a non-offensive color, a very natural look, and that’s a key word today.

CURRENTLY LISTED

397 WEYMOUTH PL, LAGUNA BEACH  $7,750,000

WWW.397WEYMOUTH.COM

2561 PARK AVE, LAGUNA BEACH  $3,099,000

WWW.2561PARK.COM

1585 S COAST HWY #4, LAGUNA BEACH  $1,999,000

WWW.1585COAST4.COM

1098 WYKOFF WAY, LAGUNA BEACH  $1,599,000

WWW.1098WYKOFF.COM

1489 REGATTA RD, LAGUNA BEACH  $1,549,000


WWW.1489REGATTA.COM

1490 DEL MAR AVE, LAGUNA BEACH  $1,459,000

WWW.1490DELMAR.COM

605 GLOMSTAD, LAGUNA BEACH  $1,295,000

WWW.605GLOMSTADLN.COM

DECEMBER 2018 LAGUNA BEACH STATISTICS

Active - 264
Pending - 24
Sold -  25 closed in November

1 - Less than $1,000,000
17 - $1,000,000 - $2,000,000
4 - $2,000,000 - $3,000,000
1 - $5,469,000
2 - $7,000,000 - $7,770,000

 
LEARN MORE

AMANDA, PAMELA & JACE


Amanda, Pamela & Jace Horton provide a comprehensive source of information and services for anyone buying or selling property. Their services are of the highest quality, guaranteed with proven results.

C 949.422.6122
HortonsInLaguna.com
BRE#01357056
BRE#01013024
BRE#02050612