JUNE 2016 REAL ESTATE NEWS ORANGE COUNTY COASTAL NEWS

Supply of O.C. homes for sale jumps 10% in a month

Orange County homeowners have made a springtime rush to sell, raising the supply of homes listed by 10 percent in a month. ReportsOnHousing said 6,601 homes were for sale in brokers’ listing networks as of June 2, up 336 in two weeks and 601 in a month. Orange County’s housing market, which has struggled with limited options for house hunters, now has supply that’s 5 percent greater than a year ago.

Here’s how supply growth jumped by price level in the past month:

• Under $500,000: Up 7 percent.
• $500,000 to $750,000: Up 17 percent.
• $750,000 to $1 million: Up 15 percent.
• $1 million to $1.5 million: Up 6 percent.
• $1.5 million to $2 million: Flat.
• $2 million to $4 million: Up 5 percent.
• $4 million-plus: Up 7 percent.

ReportsOnHousing analyst Steve Thomas wrote: “As more homes come on the market and demand drops during the summer months, the housing market will cool. It is still a hot housing market, but the growth in inventory is a glaring sign that the window of opportunity to take advantage of the hottest time of the year to sell is closing. Due to the increased competition, the sizzling hot housing market is transitioning to a slight seller’s market.”

Buyers have pulled back in the same period. ReportsOnHousing said 3,022 pending sales were in escrow, virtually the same from a year ago but down 4 percent in two weeks. The last mid-spring drop was in 2010.

But the market has not yet dramatically shifted away from one with a seller’s advantage.
ReportsOnHousing’s “market time” – a benchmark of market speed – showed the typical home selling in 66 days on June 2 vs. 60 days two weeks earlier, and 62 days a year ago. Any reading under 90 days is considered by Thomas to be a “seller’s market.”
Source: OC Register 6/6/16

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woods cove - just sold!

Listed and In Escrow Within One Week
 Our Professionally Coordinated Staging, Pricing and Photography Were Key Factors To This Home Selling Swiftly.

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May 2016 LAGUNA BEACH statistics

Active - 255
Pending - 54
Sold - 65

4 - Less than $1,000,000
20 - $1,000,000 - $2,000,000
16 - $2,000,000 - $3,000,000
6 - $3,000,000 - $4,000,000
7 - $4,000,000 - $5,000,000
3 - $5,000,000 - $6,000,000
6 - $6,000,000 - $10,000,000
1 - $10,900,000
1 - $17,500,000
1 - $19,900,000

 CLICK TO LEARN MORE

 

 

 

 

 

 

MAY 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Listed byHortonsInLaguna

1070 Miramar St, Laguna Beach
www.1070Miramar.com
 Sweeping panoramic ocean and Catalina Island sunset views
from virtually every room of this beautifully remodeled and move-in-ready home.
Price Improvement to $1,355,000

O.C., L.A. and Inland Empire

Homes are Overpriced, Trulia Reports

 

Real estate website Trulia ranks Orange County, Los Angeles and the Inland Empire among the five most overvalued housing markets in the U.S.

Southern California is home to some of the most overpriced housing markets in the country. And that's taking the wind out of the recovery.

Three Southland regions ranked among the five most overvalued markets in the U.S. in a new report by real estate website Trulia. These are places where the housing costs have far outpaced growth in income.

Separately Tuesday, the closely watched S&P/Case-Shiller index reported that Los Angeles home prices inched down in January — the first monthly decline in two years.

"Southern California has seen big price increases since the bottom," said Jed Kolko, Trulia's chief economist, "without big increases in income."

March 25, 2014|By Tim Logan and Andrew Khouri

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We Hope You Had a Happy Mother's Day

In honor of Mother’s Day, the folks at Trulia found the homes of several of the most beloved moms in American film, including estimates of how much these six famous houses would cost today.

From the little yellow bungalow in Manhattan Beach, CA, where Dorothy Boyd lives in Jerry Maguire; to the on-screen Atlanta, GA, home of real-life interior designer and mom Leigh Anne Tuohy in The Blind Side.

Was your favorite on-screen mom on the list? You can read the short article here, or go straight to the list via this infographic .

To all the moms we hope you had a truly marvelous Mother's Day!



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April 2016 Sales Statistics for Laguna Beach:

243 Active Listings

54 Pending Sales  

29 Closed Sales from 4/01/16 - 4/30/16

Sales Statistics:

  4 - less than $1,000,000

14 - $1,000,000 - $2,000,000

  6 - $2,000,000 - $3,000,000

  2 - $3,000,000 - $4,000,000

  1 - $4,000,000 - $5,000,000

  2 - $6,000,000 - $7,000,000

*CRMLS 5/9/16

  

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IN ESCROW 
After Just Two Weeks on the Market
Listed by HortonsInLaguna.com
3003 Mountain View Dr, Laguna Beach
$1,695,000
www.3003MtnView.com

Thinking of Buying or Selling?

Amanda and Pamela

Committed To Your Success During

The Best Buying or Selling Experience Possible!

  

 Complimentary Market Evaluations

and Personalized Lists of Homes For Sale.

Contact Us At HortonsInLaguna.com

  

APRIL 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS

Just Listed by HortonsInLaguna
31405 Monterey St, Laguna Beach
Panoramic Ocean Views
4 bedrooms/4 baths 3100 SF
$2,395,000



In Many Markets Home Sales Are Rising
 

Sales of existing homes in the United States reached their highest level since 2006 last year. Steady home value growth has allowed many housing markets to eclipse previous records set during the housing bubble.

-- Upper price range homes are still seeing a somewhat sluggish market.

-- Home prices are up 5.8 percent from last year.

-- When a home is overpriced most buyers resist making offers not wanting to  insult the sellers. Pricing while always key is even more so in today's market. 

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Why We Are Interested in the Millennial Generation 
 

-- These 18-29 year olds are the next generation of buyers. 
 

-- Their spending is conservative and  they are saving money to pay off debt, for retirement and for buying a house. So they may be your future buyer. 
 

-- They are young professionals who prefer a turnkey home that needs little or no work. Modern homes that are cost- and energy-efficient.

Click link to read more of the Millennial News Article

 *LATimes, Market Watch 4/14/16

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March 2016 Sales Statistics for Laguna Beach:

212 Active Listings
44 Pending Sales
28 Closed Sales from 3/01/16 - 3/31/16

Sales Statistics:
7 - less than $1,000,000
11 - $1,000,000 - $2,000,000
8 - $2,000,000 - $3,000,000
5 - $3,000,000 - $4,000,000
4 - $4,000,000 - $5,000,000
1 - $5,695,000
2 - $6,000,000 - $7,000,000
1 - $19,125,000

Inventory is starting its normal creep upwards while the number of in escrow sales is about the same. Great news is the 28 closed sales in March, this is significant considering that the number of pending sales did not decrease.

 

*CRMLS 4/14/16

 

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On Broker Preview this week we thought this Laguna Beach home listed by Keller Williams to be a good buy with 3 beds/2.5 baths,  pool and ocean views. $1,595,000.                          

 

 

 

 

 

Thinking of Buying or Selling?

Click link below to contact Amanda and Pamela.

We offer Complimentary Market Evaluations

and Personalized Lists of Homes For Sale.

Visit us at:

www.HortonsInLaguna.com

MARCH 2016 COASTAL ORANGE COUNTY NEWS

Mystic Hills Listed by Amanda and Pamela
1527 Tahiti Ave, Laguna Beach
Spacious 5-Bedroom Home with ocean views from most rooms. 
www.1527Tahiti.com

 

CALIFORNIA HOME SALES KICK OFF YEAR HIGHER IN JANUARY, MARKING BEST START IN THREE YEARS

The fundamentals underlying the demand for housing fueled a healthy start to 2016. All totaled, OC home values are up 8.8% versus last year nearing the 2007 peak. $1,000,000 plus homes represent 35.0% of all OC listings.

Rental Rates: ‘Rising rents’ are quickly becoming ‘a life event’ as the top reason homebuyers will look to purchase a home. As it stands, one in four homebuyers is looking to purchase because their rent is too high. When asked what most influenced their decision to buy the only choice buyers cited more frequently was a major life event, such as the birth of a child or a marriage, according to a Redfin survey of 750 homebuyers. Zillow, recently released a report saying although the rental prices may be cooling, the situation remains tough on the ground: rents are still rising and renters are struggling to keep up.

 *CAR, Zillow 3/1/15
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FEBRUARY 2016 SALES STATISTICS FOR LAGUNA BEACH:
186 Active Listings
  47 Pending Sales
  46 Closed Sales from 1/01/16 - 2/29/16

Sales Statistics:
 10 - less than - $1,000,000
 10 - $1,000,001 - $1,500,000
   5 - $1,500,001 - $2,000,000
  11 - $2,000,001 - $2,500,000
   4 - $2,500,001 - $3,000,000
   0 - $3,000,001 - $3,500,000
   0 - $3,500,001 - $4,000,000
   6 - $4,000,001 - $4,500,000

February saw the number of Pending Sales leap by more than 50% but inventory remains very low. Most of the sales activity is below $2.5M.

* CRMLS 03/04/2016

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On last week's Broker Preview Amanda thought this Laguna Beach home on Ceanothus Drive listed for $4,699,000 had some of the best views of the day!

 
Thinking of Buying or Selling?

Click link below to contact Amanda and Pamela

www.HortonsInLaguna.com

FEBRUARY 2016 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Just Listed by Amanda and Pamela
1040 Santa Ana St, Laguna Beach
Panoramic Ocean Views, 3 Beds, 2 Baths, $1,279,000
www.1040SantaAna.com



 

2016 THE YEAR OF CAUTIOUS OPTIMISM

Demand for "for-sale" housing will grow and will continue to be dominated by older Milennials, those aged 18 to 34. This demographic has the potential to claim a third of home sales in 2016 and represent two million home purchases.

Gen-X, aged 28 to 45 years, is in prime earning years and experiencing improvements in their economic circumstances, which include more relocations and seeking better neighborhoods for their families. Older Boomers, aged 46 to 64 years, are approaching — or already in — retirement and seeking to downsize or lock to a lower cost of living. Together, these two generations will provide much of the suburban inventory that Milennials desire to start their own families.

Renting vs. Buying: There will be continued growth of rental rates and the moderating trend in home prices. The pattern seen in 2015 was largely characterized by a white-hot rental market, and if this continues, more households will likely choose to rent over buy in 2016. For the purchase market, increasing rental rates continue to make it more difficult for potential buyers to save up for a down payment.
 

Mortgage Information: Mortgage rates should also begin their long-anticipated ascent as the Federal Reserve is careful on influencing rates up without negatively impacting economic growth.  

30 year fixed Mortgage rate is currently 3.72%, down big versus one week ago
15 year fixed rate is 3.01%, down big versus one week ago.

*Inman News 2/9/16

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JANUARY 2016 SALES STATISTICS FOR LAGUNA BEACH:
162  Active Listings
  30  Pending Sales
  29  Closed Sales from 1/01/16 - 1/31/16

Sales Statistics:

 9 - less than - $1,000,000
 7 - $1,000,001 - $1,500,000
 2 - $1,500,001 - $2,000,000
 4 - $2,000,001 - $2,500,000
 4 - $2,500,001 - $3,000,000
 0 - $3,000,001 - $3,500,000
 0 - $3,500,001 - $4,000,000
 3 - $4,000,001 - $4,500,000

Sales statistics for the month of January, 2016.  There are only 30 Pending Sales, the lowest since February, 2009 almost seven years ago.  The 29 closed sales in January represents the highest number of January closings in five years.  Go figure!  The number of current Active listings is down to 162 the lowest in three years.  Now is a good time to sell with inventory and interest rates low. 

*CRMLS 2/9/16

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Just Listed and In Escrow with Multiple Offers
by Amanda and Pamela

Panoramic Ocean View Condo
3 Beds/2.5 Baths, $1,399,000
www.21799OceanVista.com

Thinking of Buying or Selling?
Click to contact Amanda and Pamela
www.HortonsInLaguna.com


  

NOVEMBER 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Close to Beach and Town - 721 Browncroft Rd, Laguna Beach

3 Bedrooms/4 Baths $1,999,000

View this home listed by HortonsInLaguna

 

Strong Sales Lift U.S. Home Prices 5.1% 
 

Solid sales pushed up U.S. home prices at a steady pace in August from a year earlier, a sign that the housing market is improving despite a slowdown in the overall economy.

Home Prices: Prices have risen at a 5% pace for most of this year, which economists see as more sustainable than last year's double-digit gains. Three years of solid hiring and historically low mortgage rates have enabled more Americans to buy homes.
 

Sales: Sales of existing homes jumped 4.7% in September to a seasonally adjusted annual rate of 5.55 million.  The number of existing homes for sales has fallen 3.1% in the past 12 months. In September, the number of available homes was equal to just 4.8 months' of sales, below the six months that is typical of a balanced market.

Mortgage Rates: Low mortgage rates are helping would-be buyers. The average rate on a 30-year fixed mortgage fell to 3.79% last week, its the 13th straight week below 4%.
 

Interest Rate News: Buyers and the industry will have to wait a little longer for the expected rate hike. This is to support continued progress toward maximum employment and price stability. So rates will stay at the current 0 to 1/4%. The Federal objective is try to maximum employment at a 2% inflation. They did hint at a possible December rate hike.

LATimes/CAR 10/28/15

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OCTOBER  SALES STATISTICS FOR LAGUNA BEACH:

189 Active Listings 
41  In Escrow
23 Closed Sales from 9/01/15 - 9/30/15

Statistics for October Sales:
  1 Sale $488,000
12 Sales $1-2 million
  4 Sales $2-3 million
  1 Sale  $3,200,000
  2 Sales $5-6 million
  2 Sales $10-11 million

  1 Sale for 17,200,000

*Source CRMLS 11/01/15

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Fabulous Alta Vista Lease - Forever Views

1350 Alta Vista Dr, Laguna Beach

4 bedrooms, 3 baths, 3,200 SF $9,775/Month

Contact Pamela and Amanda About This Lease

OCTOBER 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Just Listed - 1035 Noria Street - Ocean View Home

3 Beds, 3.5 Baths, $1,349,000

Click to View 1035 Noria St, Laguna Beach

 



Price Gains Lower, Buyers Gaining Leverage

Rising prices and low inventory have finally cooled the housing market, just a bit. Pending home sales are down nationally yet the market remains well above last year’s levels. Demand continues to outpace supply.  Even with existing housing supply barely budging all summer, sales activity is still higher than earlier this year and a year ago. The median price of an existing home is expected to rise 5.8% nationally by the end of this year. And in the West, the bright spot of real estate pricing, the average rose.
 

We're in a bit of an adjustment period right now towards a more normal market. After two years of bidding wars and big price run-ups, some sellers have yet to come to terms with a slower market. After a decade of boom, bust and boom again, many aren't sure how to react to a normal market. Sellers are not used to this slowdown as houses have been selling quickly, eventually all houses will sell. You just have to be patient.

*LATimes, CoreLogic 9/12/15
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SEPTEMBER SALES STATISTICS FOR LAGUNA BEACH:

206 Active Listings 
13 In Escrow
 34 Closed Sales from 9/01/15 - 9/30/15

34 Sales for September 2015:
  3 Sales under $1 million
15 Sales $1-2 million
  7 Sales $2-3 million
  2 Sales $3-4 million
  5 Sales $4-5 million

  1 Sale for $15,800,000

*Interesting: $4-5 million range had more sales than $3-4 million range.

*Source CRMLS 9/30/15

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Fabulous Mystic Hills Listing - by Amanda and Pamela

1527 Tahiti Ave, Laguna Beach

$2,599,000

Click to View 1527 Tahiti Road, Laguna Beach

 

AUGUST 2015 COASTAL ORANGE COUNTY REAL ESTATE NEWS

 

Newly  Listed: Ocean View Home in Mystic Hills area of Laguna Beach
Click to view 1527 Tahiti Ave, Laguna Beach

California Home Sales At Highest Level in 2 years, First Double-digit Increase since May 2012

Sales of existing, single-family homes in June reached the highest level in two years and experienced the first double-digit increase since May 2012. Home sales in the state have risen year over year for five straight months.

The June sales increased 3.3% from May and 11% compared with home sales in June 2014. The year-to-year change is significantly higher than the previous 6-month average increase of 4.3% from December 2014-May 2015.

Other key points for the OC coastal housing report include:

·        Active Listings Decline: While sales continued to improve from last year the number of active listings dipped 0.8% from the previous year. The June Unsold Inventory Index declined to 3.3 months in June, down from 3.5 months in May and 3.8 months in June 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

·        Median Number of Days on Market: Days to sell a single-family home rose slightly in June to 33.3 days compared with 28.5 days in May but was down from 33.8 days in June 2014.

·        Sales-to-list price Ratio: Properties are generally selling below the list price, except in the San Francisco Bay Area, where a lack of homes for sale is pushing sales prices higher than original asking prices to an average of 106.3% up from 104% a year ago.

·        Trends:  
 Home ownership at its lowest point in 19 years (64.8%)
 Highest price increase Newport Coast, 92657, +137.9%
 2nd Highest, Newport Beach, 92662, +61.1%

        3rd Highest, VillaPark,92861, 57.9%                                                                                                 

       

·        Mortgage Interest Rates Increased in June. Current market rates are:  

       30 year fixed Mortgage rate is currently 4.09%, up slightly versus one week ago,
15 year fixed rate is 3.25%, up slightly versus one week ago,
ARM’s represent 15.4% of all mortgages, down from 19.6% versus last year, this is the loan of choice

*CAR 7/15/15 - FANNIE MAE 7/31/15
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JULY 2015 SALES STATISTICS FOR LAGUNA BEACH:

222 Active Listings
69 In Escrow
42 Closed Sales from 7/01/15 - 7/31/15

42 Sales for July 2015:
  4 sales under $1 million
16 sales $1-2 million

*June had 27 closed sales vs. July with 42 - CRMLS 8/1/2015


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