Wednesday, June 20, 2018

JUNE 2018 ORANGE COUNTY REAL ESTATE NEWS

HORTON TEAM NEWSLETTER

June 2018

Happy Summer Everyone!

Contact us for a personalized perspective on the market and how it pertains to your possible sale or purchase! Here is an article we found of interest this month. Source: Nasdaq NewsFeed, May 24, 2018:

 

Freddie Mac May Outlook: Homebuyers Showing Resiliency Amidst Limited Supply and Affordability Constraints 

Through the first five months of 2018, home shoppers have battled the trifecta of climbing home prices, higher mortgage rates and low supply. Despite these obstacles, Freddie Mac expects the healthy economy and strong consumer confidence to lead to a 3.0 percent increase in total home sales (new and existing) this year.
“While this spring’s sudden rise in mortgage rates are taking up a good chunk of the conversation, it’s the stubbornly low inventory levels in much of the country that are preventing sales from really taking off like they should be,” said Freddie Mac Chief Economist Sam Khater. “The underlying demand for buying a home is holding up, and will continue to do so, as long as the economy is generating solid job and income growth. Most markets simply need a lot more new and existing supply to cool price growth and give buyers enough choices.”
May Outlook Highlights 
  • Gross Domestic Product (GDP) in the first quarter slowed (2.3 percent) from the end of last year (2.9 percent). Fueled by an increase in consumer spending, economic growth should pick up to 3.1 percent in the second quarter and 2.7 percent for the full year.  
  • The uptick in interest rates is expected to continue. The 30-year fixed-rate mortgage is forecast to average 4.9 percent by the end of the year.
  • Despite strong demand, low supply continues to slow sales growth and put upward pressure on price appreciation. Total home sales this year are forecasted to increase 3.3 percent year-over-year to 6.32 million. Even as mortgage rates rise, home prices are expected to increase 7.0 percent this year.
  • The negative impact of higher mortgage rates on refinance activity will outweigh the expected increase in purchase origination volume. Originations are forecasted to fall about 6.0 percent in 2018 to $1.75 trillion.

 

Just Sold in Laguna Beach
1594 Skyline Drive  Represented Sellers


1075 Noria Street  Represented Buyers

In Escrow - 3095 Nestall closing this week - Represented Sellers


In Escrow - 22190 Paseo Del Sur closing end of June - Represented Sellers, Buyers

 

Currently Listed

http://www.2561Park.com

$3,099,000 4 bedroom, 3,764 sq ft home on half acre



http://www.1098Wykoff.com

$1,599,000 3 bedroom remodeled ocean, canyon view home 


http://www.946Quivera.com
$1,475,000 3 bedroom remodeled coastline view home 



http://www.30902Clubhouse8D.com
$520,000 2 bedroom condo in Laguna Niguel 



For Lease
21797 Ocean Vista Drive $4,500/month

June 2018 Laguna Beach Statistics 

Active - 283
In Escrow - 53
Sold - 30 closed in May

2 - Sold less than $1,000,000
16 - $1,000,000 - $2,000,000
5 - $2,000,000 - $3,000,000
4 - $3,000,000 - $4,000,000
1 - $9,100,000 
1- $18,333,000
1 - 23,000,000
LEARN MORE

AMANDA, PAMELA & JACE


Amanda Horton, Pamela Horton and 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

Thursday, May 17, 2018

MAY 2018 ORANGE COUNTY REAL ESTATE NEWS

AMANDA HORTON & PAMELA HORTON
REAL ESTATE NEWSLETTER

May 2018

Southern California housing ranked with 'minimal risk' of a bubble
Source, OC Register, Jonathan Lanser, April 29th, 2018

Amidst talk of bubbles, Southern California home prices are very unlikely to fall, according to Mortgage Insurance firm Arch MI.

Arch MI gauged the economic foundations of home values in 100 major metropolitan areas to determine local housing markets with “minimal” risk. Locally, Arch MI found solid performance among regional businesses and limited development of new homes as factors that should keep home prices firm.

Orange County was the riskiest market in the region — if having a 4 percent risk of a price decline in the coming two years is what you consider dicey. That compares with the county’s 28-year historical average of 25 percent chance of falling home values.

Arch MI doesn’t find much risk out of the region either: The nationwide risk of decline was 5 percent even after home prices rose 12.6 percent in two years. Yes, that was up from 2 percent a year ago.

“Housing markets in most cities are exceptionally strong due to a shortage of homes for sale,” Arch MI wrote. “Construction has lagged the growth in households and employment for nearly a decade. Even recent interest rate increases and higher taxes on some upper-income earners didn’t slow the market, as many had feared.”

“Housing markets aren’t likely to cool until the economy slows, either from substantially higher interest rates or an unexpected economic shock,” Arch MI wrote. “Short of a war or stock market crash, housing markets could continue to surprise on the upside over the next few years.”

CURRENTLY LISTED

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

WWW.2561PARK.COM

30902 CLUBHOUSE 8D, LAGUNA NIGUEL $535,000

WWW.30902CLUBHOUSE8D.COM

COMING SOON 
HOMES ON WYKOFF WAY, QUIVERA STREET

IN ESCROW - REPRESENTING SELLERS
1594 SKYLINE DRIVE, LAGUNA BEACH

22190 PASEO DEL SUR, LAGUNA BEACH
3095 NESTALL ROAD, LAGUNA BEACH

245 ASTER ST #3, LAGUNA BEACH
 

MAY 2018 LAGUNA BEACH STATISTICS

Active - 261
Pending - 43
Sold -  43 closed in April

6 - Less than $1,000,000
15 - $1,000,000 - $2,000,000
6 - $2,000,000 - $3,000,000
5 - $3,000,000 - $4,000,000
3- $4,000,000 - $5,000,000
5 - $5,000,000 - $10,000,000
1 - $10,050,000
1 - $15,500,000
LEARN MORE
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

Tuesday, April 17, 2018

APRIL 2018 ORANGE COUNTY REAL ESTATE NEWS


 HORTON TEAM
REAL ESTATE NEWSLETTER

April 2018

Thank you for reading our newsletter. In light of limited inventory, we found this article of interest this month. We look forward to being a resource for all of your real estate needs.
Happy Spring, Amanda, Pamela & Jace 




New California legislature could provide opportunity for long-time owners

Source: CNBC - March 26th, 2018

A proposed ballot initiative in California could encourage older homeowners with larger homes to downsize and move to other counties, freeing homes for younger families and potentially easing the state's chronic housing shortage.

The proposed voter measure would allow homeowners age 55 and older to sell their primary home in one county and move anywhere else in California without a significant property tax hit, assuming the new property is valued the same or less. If the replacement property is higher value, though, there are still incentives under the portability measure since it keeps property tax benefits under the citizen-led Proposition 13 tax rate rollback passed in the 1970s.

"Many seniors live in homes that no longer fit their needs because their homes are now too big or too far away from their families," said Steve White, president of the California Association of Realtors, the group behind the proposal. "If they want to downsize or move closer to their children, they could face property tax increases of 100 percent, 200 percent or even 300 percent."

In recent years, 350,000 to 450,000 homes have sold in the California market annually, according to the Legislative Analyst's Office. It estimates that the proposed measure has the potential to increase that number "by as much as tens of thousands per year."

Finally, the California Chamber of Commerce supports the voter measure and says the state has "a massive housing shortage and needs at least 100,000 additional new units a year to meet demand." It also believes the initiative "could help ease the shortage by freeing up modest-priced homes and move-up housing for young families.


Full Article:
https://www.cnbc.com/2018/03/25/california-tax-break-measure-could-help-ease-states-housing-crunch.html



Amanda has received a nomination in the Orange County Business Journal Women of the Year Awards!


Thanks to our clients and friends who support us in making a nomination like this possible!



New Listing! 3095 Nestall Road, Laguna Beach
Enjoy fantastic canyon and city views from this Top of the World single level three bedroom home at the end of the cul-de-sac.
http://www.3095Nestall.com





In Escrow!
245 Aster St. #3, Laguna Beach

Representing Sellers

 

April 2018 Laguna Beach Statistics

Active - 255
Pending - 53
Sold in March - 33

6 - Less than $1,000,000 (0 in March)
14 - $1,000,000 - $2,000,000 (+56%)*
8 - $2,000,000 - $3,000,000 (+100%)*
3 - $3,000,000 - $4,000,000 (-43%)*
1 - $5,000,000 

*Compared to March 2017

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.

Thursday, March 22, 2018

MARCH 2018 ORANGE COUNTY REAL ESTATE NEWS

AMANDA HORTON & PAMELA HORTON
REAL ESTATE NEWSLETTER

March 2018

How self-employed borrowers can get the best rates
Source, OC Register, Jeff Lazerson, March 8, 2018
Rate news summary


From Freddie Mac’s weekly survey: Average rates are on the verge of breaking the 4.5 percent barrier. The 30-year fixed averaged 4.46 percent, up 3 basis points from last week and just 4 basis points shy of 4.5 percent. It’s the ninth week in a row of rising rates.
The 15-year fixed averaged 3.94 percent, up 4 basis points in a week to the highest rate in almost seven years. The 15-year also has gone up for nine straight weeks, with increases in 18 of the past 23 weeks.
The Mortgage Bankers Association reported loan application volume was unchanged from the previous week.
Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $453,100 loan, last year’s rate of 4.21 percent and payment of $2,218 was $67 less than this week’s payment of $2,285.

Locally, well-qualified borrowers can get the following fixed-rate mortgages at zero point cost: A 15-year at 3.875 percent, a 30-year at 4.375 percent, a 15-year agency high-balance ($453,101 to $679,650) at 4.125 percent, a 30-year agency high-balance at 4.625 percent, and a 30-year jumbo (over $679,650) is at 4.75 percent.

Tax season is now. So, it’s income optimization time for self-employed borrowers (anyone that owns 25 percent or more of any business). Well, at least for those applying for mortgage credit in the near future.
You don’t necessarily need to be self-employed for two years. Fannie Mae and Freddie Mac have specific parameters that may allow one-year self-employed borrowers to qualify.
Doctors are a separate category for a few jumbo investors (above Fan and Fred’s loan limits), offering financing for one year of self-employment.
Rule number one is you can’t have your cake and eat it too. That is, don’t whittle away your taxable income by under-reporting to Uncle Sam and then get mad the mortgage contact can’t qualify you for the home you are eyeing. Explain your general down payment, loan amount and monthly maximum payment parameters to your lender. Send along copies of any documentation your lender requires.
Planning ahead is the key to understanding your maximum mortgage qualifications.

JUST SOLD
978 MEADOWLARK DR, LAGUNA BEACH

Represented Both Seller and Buyers
"Amanda is a total rock star who I would definitely use again and recommend to anyone looking for a knowledgeable agent! She went over and above our expectations."





31423 S. COAST HWY #55, LAGUNA BEACH
Represented Seller
"Thank you so much for everything. You all do so much for me and I'm very grateful."




CURRENTLY LISTED

1594 Skyline Drive, Laguna Beach $3,395,000
www.1594Skyline.com


2561 Park Ave, Laguna Beach  $3,099,000
www.2561Park.com


22190 Paseo Del Sur, Laguna Beach $2,799,000
www.22190PaseoDelSur.com


In Escrow - 3322 Via Carrizo #B Rep. Seller

In Escrow - 30902 Clubhouse #8D, Rep. Seller

MARCH 2018 LAGUNA BEACH STATISTICS

Active - 227
Pending - 47
Sold -  16 closed in February

0 - Less than $1,000,000
7 - $1,000,000 - $2,000,000
5 - $2,000,000 - $3,000,000
2 - $3,000,000 - $4,000,000
1 - $4,000,000 - $5,000,000
1 - $12,000,000

LEARN MORE
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