Tuesday, February 20, 2018

FEBRUARY 2018 ORANGE COUNTY REAL ESTATE NEWS

AMANDA HORTON & PAMELA HORTON
REAL ESTATE NEWSLETTER

February 2018

In light of low inventory, we found this article of interest this month. Thanks for reading and as always, we are here to help so let us know how we may be of assistance! 

 

Shopping for a home? It will take longer than you think

Source, CNBC February 13, 2018

Homes today are selling in about 40 days on average, almost two weeks faster than a year ago. But it is taking a lot longer for shoppers to find a home to buy.
Two-thirds of buyers are shopping for more than three months before signing a deal, according to a new survey from the National Association of Home Builders. Why so long? They can't find a home they can afford.
Forty-two percent of buyers surveyed said prices were out of reach for the homes they wanted. Home prices have been rising at a fast clip in the past year – faster than income growth and inflation. The primary reason is a lack of homes for sale, especially lower-priced homes.
"It's the inventory problem that we're having out there that is causing these long delays in pulling the trigger," said Rose Quint, assistant vice president for survey research at the NAHB. "It's lack of affordability, although the other problems are serious as well."
About a third of those surveyed said they couldn't find a home with features they wanted or in a neighborhood they wanted. Back to prices though, 27 percent said they kept getting outbid on their offers. Bidding wars are now the rule, not the exception, in most major U.S. markets.
The lack of supply should benefit the homebuilders, and it may be already. Mortgage applications to purchase a newly built home jumped 18 percent in January compared with a year ago, according to the Mortgage Bankers Association.
"This complements other positive news on U.S. job growth suggesting that economic fundamentals are strong," said Lynn Fisher, MBA vice president of research and economics, in a release. "Based on applications, we estimate that new home sales were running at a pace of 700,000 on a seasonally adjusted annual basis – the highest such estimate in our survey which began in 2013."
The jump in demand is sizable, but the number of new homes for sale is still below historical averages and far below the number needed to satisfy both new and pent-up demand. The largest generation, millennials, are now moving into their homebuying years in force, but clearly not finding what they can afford.
The NAHB is predicting a 5 percent increase in new home construction in 2018 compared with 2017. The market could absorb far more, not just in major metropolitan areas, but across the nation.


JUST SOLD
1475 N. JAMESTOWN, ORANGE

Represented Buyers- "We couldn't have asked for anything better. In a multiple offer situation your keen negotiating secured us our home. Thanks for a great job every step of the way."



CURRENTLY LISTED

In Escrow - 978 Meadowlark  Rep. Seller/Buyer

In Escrow - 31423 Coast Hwy #55  Rep. Seller

Coming Soon - 2561 Park Avenue $3,099,000

http://www.1594Skyline.com $3,395,000

http://www.22190PaseoDelSur.com $2,799,000

http://www.990SantaAna.com $1,895,000

http://www.3322ViaCarrizoB.com $575,000

http://www.30902Clubhouse8D.com $549,000

For Lease - 9 Woodswallow, Aliso Viejo $3,300/month. In LBUSD school boundaries.

 

FEBRUARY 2018 LAGUNA BEACH STATISTICS

Active - 221
Pending - 42
Sold -  30 closed in January

5 - Less than $1,000,000
13 - $1,000,000 - $2,000,000
4 - $2,000,000 - $3,000,000
6 - $3,000,000 - $4,000,000
1 - $4,000,000 - $5,000,000
1 - $12,900,000

 
agent-photo

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

 

Monday, October 9, 2017

OCTOBER 2017 ORANGE COUNTY REAL ESTATE NEWS

Happy Fall Everyone!

Increased market times are causing price reductions on the higher end to occur. Contact us for a personalized perspective on the market and how it pertains to your possible sale or purchase!

Source: OC Register, September 19, 2017:


Hefty discounts get Laguna Beach homes selling
Laguna Beach home sellers got the county’s second highest prices in August, but it took the second largest discounts to get the deals done.
Here are highlights of ReportsOnHousing house-hunting data for resales of existing detached and attached residences in the community. Analysis includes August trends based on closed sales: sale counts; average price vs. average list price; high and low price paid in the month; average cost per square foot and average size; plus, based on broker listing networks stats on Sept. 7, the “market time” metric comparing supply of listings to new escrows opened in past 30 days.
In Laguna Beach …
Sales: 35 sold vs. 32 a year ago.
Average sales price: $2,452,114, second highest out of 46 Orange County markets tracked and was down 11.4 percent in a year.
Compared to list: Sellers got 95.7 percent of what they typically asked for, second worst of the 46 markets.
Range: High sale of $8.5 million vs. a $285,000 low.
Sizing: On average, buyers paid $1,240 per square foot on a 1,978 square-foot residence. This pricing metric was off 0.7 percent in a year.
Market speed: 209 days, listing to escrow opened vs. 294 days a year ago and 231 days two years ago.


Currently Listed in Laguna Beach
For Lease
2841 Ridge Drive $9,000/month



Coming In November For Lease:
Mountain View Drive


For Sale
www.21712Wesley7.com



New Personalized Home Search Tool

Surterre Properties is excited to announce a partnership with RealScout, a new home search service that allows for personalized search customization, allowing you to look for more specific features and traits such as: “contemporary,” “fixer-upper”, “natural light,” “open floor plan,” and more!
Give it a try and let us know how you like it! You may also as always search our web site for property at www.HortonsInLaguna.com.


October 2017 Laguna Beach Statistics 

Active - 261
Pending - 54
Sold - 29 in September

3 - Sold less than $1,000,000
14 - $1,000,000 - $2,000,000
5 - $2,000,000 - $3,000,000
6 - $3,000,000 - $4,000,000
1 - $7,850,000 

Thursday, September 7, 2017

SEPTEMBER 2017 ORANGE COUNTY REAL ESTATE NEWS

How's the Market? 

Presently in California: Source California Association of Realtors August 2017

The combination of high prices and high demand in California have combined to create an environment of record low affordability. With the economy sustaining wage growth and low unemployment rates, households who have finally saved enough to buy have rushed to buy homes while long term mortgage rates remain low.

Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 5 percent on a year-over-year basis from July 2017 to July 2018, and on a month-over-month basis home prices are expected to increase by 0.4 percent from August 2017 to September 2017. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

Presently in Orange County: Source Surterre Properties managerial report based on MLS market and company statistics.

The market does not have enough inventory to supply buyers.

The demand for homes under $750,000 has doubled since this time last year.

$750,000-$1,000,000 = Days on market is 56 compared to 84 in 2016.

$1,000,000-$1,500,000 = Days on market is 110 compared to 114 in 2016.

$1,500,000-$2,000,000 = Days on market is 104 compared to 130 in 2016.

$2,000,000 and over  = Days on market is 178 compared to 304 in 2016. 


Just Sold! 983 Noria Street Laguna Beach
An Open House Success Story -Ask us how!
Represented Buyers and Sellers 
Both parties so pleased with our services and we are so honored to have assisted in the process. 

September 2017 Laguna Beach Statistics

Active - 263
Pending - 52
Sold in August - 35

5 - Less than $1,000,000
18 - $1,000,000 - $2,000,000
4 - $2,000,000 - $3,000,000
2 - $3,000,000 - $4,000,000
3 - $4,000,000 - $6,000,000
3 - $6,000,000-$9,000,000

We are always happy to meet with you or any of your referrals to discuss personal real estate situations and needs. Let's talk about your goals and create a timing strategy for buying or selling.


Wishing you all a wonderful end of summer season!
-Amanda & Pamela

Tuesday, August 8, 2017

AUGUST 2017 ORANGE COUNTY REAL ESTATE NEWS

SALES OF ORANGE COUNTY'S HIGH-END HOUSING COOLS DOWN

The start of summer put a bit of a chill into Orange County homebuying, notably in the market’s upper crust.
Overall, 3,834 Orange County residences closed escrow and officially sold in the 22 business days ending June 27, up just 0.2 percent from a year ago, CoreLogic reported. Sales rose in only 41 of 83 Orange County ZIP codes compared to the year-ago period.
Orange County’s median selling price for all residences was $695,000 — up 5.3 percent compared to a year ago. Prices were up in 57 of 83 Orange County ZIPs compared to the previous year.
27 priciest ZIPs: This niche — median sales price of $770,000 and up — had 1,279 homes sold. That’s up just 0.2 percent compared to a year ago.
Seven-figure ZIPS: In 10 Orange County ZIP codes with median selling prices above $1 million, sales totaled 329 homes, down 1.2 percent compared to a year ago.

Source: OC Register 7/22/17




On July 25th, Amanda was presented an award for Providing Outstanding Value to Clients 
Presented by Surterre Properties founders, owners Paul Ansara-Wilhelm and Gary LeGrand 


CURRENTLY LISTED

22190 Paseo Del Sur - $2,975,000 www.22190PaseoDelSur.com




31423 Coast Hwy #55 - $1,749,000 www.31423Coast55.com


21712 Wesley Dr #7 - $1,149,000  www.21712Wesley7.com
*Also available for lease at $4,495/mo

ESCROW - 983 NORIA, LAGUNA BEACH

Representing Seller and Buyer

JUST SOLD - REPRESENTED BUYERS

9 Woodswallow, Aliso Viejo
1779 N Winlock, Orange
*Yes, we assist outside of Laguna, contact us to get your search started!

JUST SOLD - REPRESENTED SELLER

21703 Ocean Vista 101, Laguna Beach 

AUGUST 2017 LAGUNA BEACH STATISTICS

Active - 256
Pending - 16
Sold - 35

9 - Less than $1,000,000
14 - $1,000,000 - $2,000,000
9 - $2,000,000 - $3,000,000
1 - $3,000,000 - $4,000,000
2 - $4,000,000 - $5,000,000
1 - $5,000,000 - $10,000,000

Tuesday, June 13, 2017

JUNE 2017 ORANGE COUNTY REAL ESTATE NEWS

Orange County Housing Off to a Hot Start in 2017

Source, Orange County Register, May 15, 2017
Orange County’s housing market got off to a broad-based advance to start 2017.
CoreLogic’s compilation of first-quarter sales data shows lots of across-the-board increases in sales trends and pricing patterns in almost every slice of the market.
  • Median selling price, all residences: $650,000 — up 4.8 percent. Prices rose in 66 of 83 Orange County ZIP codes.
  • Total sales: 8,060, up 3.5 percent from a year ago. Sales rose in 50 of 83 Orange County ZIPs.
  • Single-family home resales: 4,817 — up 3.8 percent. Median of $715,000 — up 6.7 percent.
  • Condo resales: 2,339 — up 6.8 percent. Median of $455,000 — up 3.4 percent.
  • Builder sales: 904 new homes — down 5.3 percent. Median of $849,500 — up 6.9 percent.
  • New home share: 11.2 percent of all sales vs. 12.3 percent a year ago.
  • 27 least expensive ZIPs: Median at $588,000 and below — 2,423 homes sold, up 5 percent. Sales rose in 70 percent of these ZIPs.
  • 27 priciest ZIPs: Median beginning at $742,000 — 2,630 homes sold, up 7.2 percent. Sales rose in 59 percent of these ZIPs.
  • Million-dollar ZIPs: 9 with 551 sales, up 13 percent; 10 million-dollar ZIPs a year ago.
  • Priciest ZIP: Newport Coast 92657 at $2.73 million.
  • Cheapest ZIP: Santa Ana 92701 at $277,250.

We apologize it has been a few months since our last newsletter! Spring was a busy market for the Hortons In Laguna. 

  

31291 CeanothusLaguna Beach5/4/2017Seller/Buyer
461 Linden StLaguna Beach5/18/2017Seller
1535 CaribbeanLaguna Beach5/25/2017Buyer
1880 CapistranoLaguna Beach5/26/2017Seller
31959 10thLaguna Beach5/31/2017Seller
275 Beverly ALaguna Beach6/14/2017Seller
-"We whole-heartedly recommend Amanda Horton to anyone seeking to purchase or sell a home in Orange County. She is a true superstar and a class act." Buyer, 1535 Caribbean, Mystic Hills

"Amanda & Pamela Horton are extraordinary agents. I highly recommend them, and would absolutely work with them again." Seller, 1880 Capistrano, Arch Beach Heights

"Amanda Horton is amazing and the most wonderful realtor I've ever had! She is patient, thorough, dedicated, and consistently exceeds high expectations." Seller, 31959 10th Avenue, South Laguna

June 2017 Laguna Beach Statistics

Active - 246
Pending - 52
Sold in May - 43

2 - Less than $1,000,000
26 - $1,000,000 - $2,000,000
9 - $2,000,000 - $3,000,000
0 - $3,000,000 - $4,000,000
1 - $4,000,000 - $6,000,000
3 - $6,000,000-$7,000,000
1 - $10,350,000
1 - $13,000,000

We are always happy to meet with you or any of your referrals to discuss personal real estate situations and needs.

Wishing you all a wonderful summer season!
-Amanda & Pamela