Tuesday, November 5, 2019

OCTOBER 2019 ORANGE COUNTY REAL ESTATE NEWS

Horton Team Real Estate Newsletter
October 2019

PAYMENT, NOT PRICE

Source: Steven Thomas Housing Report - October 7, 2019

In consideration for purchasing a home, buyers tend to focus a bit too much on their price budget, and not their monthly payment budget. After settling on a home and closing, the price no longer matters as much as the payment that is withdrawn from the checking account every single month for 30-years.

Much of today's market talk focuses on how high values are today. For detached homes they are up 60% in Orange County since bottoming in 2011. Homes have appreciated significantly from that 2011 bottom point through 2017. In June of 2017, values eclipsed the record peak reached prior to the recession in June 2007. Since breaking the record, values have only increased slightly, homes are just not appreciating much at all in 2019.

Many buyers are sitting on the sidelines and waiting… and waiting. Economists and housing experts make looming predictions about the possibility of a coming recession due to a variety of global influencing factors. These buyers are using this information to try to time the market to their advantage. Yet, those same economists and housing experts will attest that timing markets is next to impossible. As a result, many capable buyers have been permanently sitting on the sidelines rather than cashing in on an excellent opportunity.

Housing is in a very good spot right now and it has everything to do with interest rates. In November of last year, the 30- year mortgage climbed all the way to 5%. Consequently, housing slowed to a crawl. But, since then rates have plummeted to 3.5%, that is down 30%. That translates in into serious savings: For a $700,000 loan, that difference in interest rate is a $614 per month savings, or $7,373 per year. The difference is quite dramatic, and should instill a greater sense of affordability among today's buyers.

To the buyers who are waiting, now may be a better time than ever if you are looking for a home in the near future. In Orange County, demand is up 13% year over year and the active inventory is down 8%. And, unlike last year, the inventory is dropping right now. It will continue to drop through the end of the year and 2020 will start with a lot fewer homes than the start to 2019. With lower rates, demand will be stronger at the beginning of 2020. As a result, the market will be a lot hotter than what everybody has become accustomed to. Now is the time to cash in on these great rates before demand continues to rise along with prices.

RECENTLY SOLD

in Laguna Beach

12 N. Portola, Laguna Beach
Represented Seller

Sale Price: $3,300,000
3bd, 3ba, 2441 sqft
3143 Bonn Drive, Laguna Beach
Represented Seller

Sale Price: $1,750,000
4bd, 3ba, 2057 sqft
336 Canyon Acres, Laguna Beach
Represented Buyer

Sale Price: $765,000
2bd, 1ba, 725 sqft

IN ESCROW

Laguna Beach

895 La Mirada St, Laguna Beach
Representing Seller

List Price: $1,299,000
2bd, 1ba, 1,188 sqft

CURRENT LISTINGS

Laguna Beach

22191 Rico Road - $2,995,000
3 bd, 3.5 ba, 3460 sqft
www.22191Rico.com
31012 Aliso Circle - $2,499,000
3 bd, 2.5 ba, 2301 sqft
www.31012Aliso.com
885 La Mirada Lot - $599,000
25' x 100' buildable lot
www.LaMiradaLot.com
1576 Del Mar Ave - For Rent
3 bd, 2 ba, 1,476 sqft
$4,200 / mo

MARKET STATISTICS

Laguna Beach

Active - 261 (Down 12% vs. Aug)
Pending -  45 (Down 35% vs. Aug)
Sold in September - 42 (Up 55% vs Aug.)

Under $1,000,000 - 5
$1,000,000 - $2,000,000 - 21
$2,000,000 - $3,000,000 - 8
$3,000,000 - $5,000,000 - 4
$5,000,000 - $6,000,000 - 3
$7,370,000 - 1*
*Sold by the Horton Team
Learn More

THE HORTON TEAM

AMANDA
HORTON

C 949.422.6122
EMAIL AMANDA
DRE#01357096

PAMELA
HORTON

C 949.633.6667
EMAIL PAMELA
DRE#01013024

JACE
HORTON

C 714.833.1730
EMAIL JACE
DRE#02050612

Monday, September 16, 2019

SEPTEMBER 2019 ORANGE COUNTY REAL ESTATE NEWS

Horton Team Real Estate Newsletter
September 2019

WHICH HOME IMPROVEMENTS BEFORE SALE?


We have been busy consulting our clients on which improvements to make prior to selling their homes. Whether you're thinking of selling in the near or far future, we are always willing to come to your home and tell you what you should spend on and what you should not. One listing in escrow we consulted on a list of improvements, helped facilitate repairs and then consulted on how to stage the home with the owner's existing furnishings. The home sold within 2 days on the market in large part due to the preparations made. Please call on us with questions, we welcome the opportunity to map out together which improvments to facilitate so your home will present it's best!
We hope you enjoy this article below with a few initial tips from Realtor.com.
Our Best,
Amanda, Pamela & Jace  
11 Surprisingly Tiny Home Quirks That Can Stop a Sale in Its Tracks

Source: Realtor.com September 4, 2019 
Ever spend the night at a friend’s or relative’s house where they reveal some quirky shortcoming in their home? Say, the light switch in the guest room works the opposite way you'd expect (down for on, up for off), or you have to jiggle the toilet handle a few times to make it flush. These foibles might not seem like a big deal, but they could be—if you're trying to sell your house.
You can never predict what switch a buyer will turn on or what door a buyer will open. If one thing isn't right, it sends a message to the buyer's brain saying, 'If this small thing is broken, what major things are?'"
But what, specifically, are some of the most common quirks that could turn off buyers? Here are some of the flaws that you really should repair if you hope for a swift and smooth home sale.

1. Stuck front door

Don’t make it so the agent has to shove a shoulder into the front door to open it. You need a welcoming and well-working front door that swings open and closes smoothly without much effort. A carpenter can usually make a well-worth-it adjustment to the frame for sticky doors.

2. Wobbly ceiling fan

Ever see one of those wobbling, rattling fans in action? It’s not pretty. Tighten or replace ceiling fans that look like they are about to take flight from the ceiling, so they don’t send buyers running for cover.

3. Backward hot and cold water faucets

Nothing says failed DIY like cold water coming out when the hot water is turned on, and hot water coming out when cold is turned on. If you have switched faucets or pipes, set them right or hire a plumber.

4. Shaky banister

The screws are about to fall out and your stair railing is so shaky the next guest could take a tumble. This issue is not only unsightly but also downright dangerous. Check banisters, stair supports, and any railings to make sure they are secured properly.

5. Overstuffed closets

No squeaky doors and hinges or off-the-track rollers allowed. Have everything neatly organized and have all closets and cabinets at least 20% empty. Overstuffed storage tells the buyer, "This home doesn't have enough space!"

6. Cranky garage door

Make sure your garage door opens smoothly and without excess noise.You might know how to get that garage door up, but you don’t want the agent struggling with it when he or she is showing the house.

7. Noisy toilet

A noisy toilet often just needs a new toilet flapper. For under $10, you can ensure your toilet flushes well, because inevitably, someone will use the restroom at your open house.

8. Propped-up windows

Repair or replace windows that need to be propped open because their spring is shot. If a bathroom window is propped open with shampoo bottles this is not a look that gets offers.

9. Backyard gate that drags on the ground

You don’t want the agent opening the gate to your beautiful garden only to hear it scrape noisily on the pavers, concrete, or ground. Gates should be trimmed and adjusted over time so they continue to open smoothly about 2 inches off the ground.

10. Squeaky floors

Over time, nails in the subfloor loosen and rub, creating that squeak. If you can’t get to your subfloor easily to install a few screws, try sprinkling talcum powder around the noisy floorboards and sweeping into cracks in the floor to shush squeaks.

11. Unprofessional patch jobs

Putty, caulk, and paint make the carpenter what he isn't, referencing the liberal use of these materials by some sellers to put cosmetic bandages over imperfections in a home. Lots of holes are filled with caulk instead of being properly patched, cardboard wedged into doors to keep them closed instead of having the lock adjusted, or painted-over water spots on walls or ceilings instead of repairing the source of the leak.Have leaks and damage repaired properly.
 


JUST SOLD

in Laguna Beach

397 Weymouth, Laguna Beach
Represented Seller

Sale Price: $7,370,000
5bd, 5.5ba, 4949 sqft
10 Bay Drive, Laguna Beach
Represented Buyer

Sale Price: $5,340,000
4bd, 5.5ba, 3,418 sqft
605 Glomstad Lane, Laguna Beach
Represented Seller

Sale Price: $1,173,200
2bd, 1ba, 798 sqft

IN ESCROW

Laguna Beach

12 N. Portola, Laguna Beach
Representing Seller

List Price: $3,395,000
3bd, 3ba, 2441 sqft
3143 Bonn Drive, Laguna Beach
Representing Seller

List Price: $1,750,000
4bd, 3ba, 2057 sqft
Laguna Canyon, Laguna Beach
Representing Buyer

List Price: $799,000
2bd, 1ba, 800 sqft

CURRENT LISTINGS

Laguna Beach

22191 Rico - $2,995,000
3 bd, 3.5 ba, 3286 sqft
www.22191Rico.com
31012 Aliso Circle - $2,499,000
3 bd, 2.5 ba, 2301 sqft
www.31012Aliso.com
1585 S. Coast #4 - $1,899,000
3 bd, 2 ba, 1448 sqft
www.1585Coast4.com
Coming Soon - La Mirada Street
2 bd, 1 ba, 1,189 sqft house
2500 sqft buildable lot

MARKET STATISTICS

Laguna Beach

Active - 295
Pending -  69
Sold in August - 27

Under $1,000,000 - 4
$1,000,000 - $2,000,000 - 6
$2,000,000 - $3,000,000 - 8
$3,000,000 - $5,000,000 - 4
$5,000,000 - $6,000,000- 3
$13,495,000 - 1
$19,000,000 - 1
Learn More

THE HORTON TEAM

AMANDA
HORTON

C 949.422.6122
EMAIL AMANDA
DRE#01357096

PAMELA
HORTON

C 949.633.6667
EMAIL PAMELA
DRE#01013024

JACE
HORTON

C 714.833.1730
EMAIL JACE
DRE#02050612