FEBRUARY 2020 ORANGE COUNTY REAL ESTATE NEWS

Horton Team Real Estate Newsletter February 2020 CONTINUED LOW RATES HEAT UP MARKET

Source - Irvine Standard & Stephen Thomas OC Housing Report   Those record-low interest rates you’ve been hearing about? Economists predict they’ll stay under 4% through the first quarter of 2020. The Fed’s unanimous vote to leave interest rates low – combined with low inflation – will keep rates down, according to Bankrate Chief Financial Analyst Greg McBride. “Inflation remains tame and long-term rates are settling, pulling mortgage rates down just a bit,” he said in January. Understanding the impact of mortgage interest rates can mean a lot to an Orange County family’s pocketbook. In fact, a family could save hundreds of dollars each month by purchasing a new home now compared to this time in 2018, when mortgage rates were at around 5%. When interest rates dropped to historic lows in December, they drove up Orange County home sales by 32% over year-ago levels, according to the California Association of Realtors. And for good reason. Interest rates now hover around 3.75% for a 30-year mortgage. That’s a drop of more than 125 basis points from their peak in 2018. That difference saves buyers about hundreds of dollars each month on a new median-priced Orange County home – adding up to hundreds of thousands of dollars over the life of the loan. The question then becomes, “Is now the right time to buy?” The numbers suggest that the answer is yes, and buyers are definitely listening. (Check out our local market stats at the very bottom that show a dramatic increase in pending sales!)   Homes for sale in many price ranges (nearly everything $1.5m and under) have now dipped below 60 days on the market, which is typically an indicator of a seller's market. After already starting the year with low inventory, demand continues to outpace supply in all but luxury price ranges.  It's important for buyers to keep an eye on new arrivals, and be prepared to come in with strong offers. And just as important, sellers need to keep in mind: (especially those in the luxury market) Overpriced, overzealous list prices result in wasted market time and do not generate offers. Pricing at or close to the Fair Market Value is the wisest formula for success, maximizing demand immediately upon coming on the market. JUST SOLD Laguna Beach & Dana Point 22191 Rico Road - $2,700,000 3 bd, 3.5 ba, 3460 sqft Represented Seller 32041 Point Place - $2,500,000 4bd, 3ba, 2800 sqft SOLD OFF-MARKET  -  Represented Buyer 23812 Salvador Bay, Dana Point - $1,989,000 2 bd, 2.5 ba, 1,880 sqft Represented Buyer CURRENT LISTINGS Laguna Beach 2841 Ridge Dr - $2,930,000 4 bd, 4.5 ba, 4,400 sqft COMING SOON 31012 Aliso Circle - $2,499,000 3 bd, 2.5 ba, 2,301 sqft www.31012Aliso.com 977 Noria St - $1,275,000 3 bd, 2 ba, 1,536 sqft COMING SOON 885 La Mirada Lot - $599,000 25' x 100' Buildable Lot www.LaMiradaLot.com IN ESCROW Laguna Beach 1085 La Mirada St - $1,295,000 3 bd, 2 ba, 1,712 sqft Representing Seller 959 Quivera St - $1,289,000 3 bd, 2.5 ba, 1,648 sqft Representing Seller MARKET STATISTICS Laguna Beach Active - 187 (No Change vs. Jan.) Pending - 51  (Up 42% vs. Jan.) Sold in January - 17 (Down 47% vs Dec.) Under $1,000,000 - 3 $1,000,000 - $2,000,000 - 8 $2,000,000 - $3,000,000 - 2 $3,000,000 - $5,000,000 - 3 $8,000,000 - 1   Learn More THE HORTON TEAM www.HortonsinLaguna.com

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

JANUARY 2020 ORANGE COUNTY REAL ESTATE NEWS

Horton Team Real Estate Newsletter January 2020 NEW YEAR, NEW INVENTORY Happy New Year from the Horton Team! With the new year, comes new homes for sale! With inventory at its lowest in a long time, and low rates pumping up demand, now is a great time to think about selling!  We've hand-picked what we think are some of the most relevant tips for keeping your home in the most salable condition. Even if you're not planning on selling your home quite yet, these helpful tips may even help you get a head start on any early spring cleaning!

BEST WAYS TO PREPARE YOUR HOME FOR SELLING Source - Forbes.com A few minor touch-ups can go a long way towards making a favorable impression on potential buyers — and perhaps cinching a deal. “Put your buyer’s hat on and walk thru your home like it is the first time,” says Marilou Young, an Accredited Staging Professional and an Associate Broker with Virtual Properties Realty in the metropolitan Atlanta area. “Make notes on what you, as a buyer, would notice,” Young advises, “and then repair or replace those items.” Some of her top recommendations are as follows: Clean, clean, clean. Dust on top of the fireplace mantle and fan blades, polish your appliances and faucets, and give the windows a thorough washing. If you’ve already moved out or if you’re too busy to stay on top of things, consider hiring a cleaning service to stop by every couple of weeks. Pay attention to smells. Don’t cook food with strong smells. Although it might taste great, a strong odor can linger for a long time. You don’t want your home to smell like a fast food restaurant! Clear out the clutter. You want buyers to focus on how awesome your space is, not how messy it looks. Banish that pile of shoes from the entry, that stack of mail from the kitchen table and anything else that detracts from your home’s gorgeous features. Repaint the walls neutral colors. As much as you love your dramatic red dining room, it could turn off a good portion of your buyers. So repaint your rooms in neutral tones like tans and whites that allow buyers to focus on the spaces themselves, not the color of the walls. Get rid of personal items. Buyers want to be able to envision themselves in your home, so remove anything overly personal, like family photos in the hallway or your kids’ artwork on the fridge. Let there be light! Open up all the windows to let in natural light and add floor or table lamps to areas that are dim. A bright, cheery room looks bigger and more inviting. Get rid of bulky furniture. Your furniture should fit the scale of the room, so get rid of any extra or oversized items that could make your space look smaller than it really is. Organize your closets. Storage space is a huge selling point, and if your closets are stuffed to the brim, buyers will think you don’t have enough of it. Invest in some boxes, dividers and other solutions that will help you make your stuff look more organized, and remove extra items you don’t need immediately (you can stow them away until you move). Tackle that honey-do list. All those little things you’ve been meaning to do but never got around to? Buyers will notice them, and they’ll detract from the value of your home. So set aside a weekend to tighten those loose doorknobs, fix that leaky faucet and paint over the scuffs from when you first moved in your sofa. Do a faux “renovation.” Little tweaks can make a big difference in the overall feel of a room. Kitchen a little outdated? Replace the fixtures, faucets and hinges. Family room furniture beaten up? Throw some slipcovers over it. Give each room a purpose. That spare room you’ve been using as an office / guest room /dumping ground won’t help sell your home unless you show buyers how they can use it themselves. So pick a use (office, guest room, crafts room) and clearly stage the space to showcase that purpose. Keep the flow going. The last thing you want is people bumping into furniture as they tour your home; it disrupts their focus and makes your space look cramped. Do a dry run as though you’re seeing your home for the first time and tweak anything that interrupts the “flow.” Boost the curb appeal. Don’t spend all your time indoors. More than one buyer has decided not to even enter a home based on its curb appeal, so make sure your home’s exterior looks excellent. Trim your shrubs, weed your flower beds, fix any peeling paint and keep the walkway clear. Just adding a row of potted plants along the walkway or a cheerful wreath to your front door can make a big difference. 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 AVAILABLE FOR RENT Laguna Beach & Aliso Viejo 2841 Ridge Dr - For Rent 4 bd, 4.5 ba, 4,400 sqft $8,900 / mo 1071 Oro St - For Rent 3 bd, 2 ba, 1,536 sqft $4,800 / mo 1576 Del Mar Ave - For Rent 3 bd, 2 ba, 1,476 sqft $4,200 / mo 9 Woodswallow, Aliso Viejo - For Rent - LBHS School District! 3 bd, 3 ba, 1,492 sqft $3,350 / mo MARKET STATISTICS Laguna Beach Active - 187 (Down 10% vs. Dec.) Pending - 36  (Down 3% vs. Dec.) Sold in December - 32 (Up 45% vs Dec.) Under $1,000,000 - 0 $1,000,000 - $2,000,000 - 17 $2,000,000 - $3,000,000 - 4 $3,000,000 - $5,000,000 - 6 $5,000,000-  $10,000,000 - 4 $11,500,000 - 1 Learn More THE HORTON TEAM www.HortonsinLaguna.com

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

DECEMBER 2019 ORANGE COUNTY REAL ESTATE NEWS

Horton Team Real Estate Newsletter December 2019

SLOWER GROWTH, BUT NO RECESSION Happy Holidays from the Horton Team! As we all wind down from a busy 2019, the Horton Team has been looking ahead and preparing for the year ahead. As part of this preparation, we attended yet another one of the most highly regarded economic forecasts in the country, the Chapman 2019 Economic Forecast, to see what Orange County's best and brightest have to say about where they think Orange County, California, the US, and the global economy is headed in 2020. The headline for this forecast confidently suggests that 2020 will be another good year, both in housing and for the economy as a whole, but the growth and recovery we've been experiencing since the years following the great recession is beginning to show signs of slowing. Job growth statistics are typically one of the biggest indicators of economic health and future business activity, and while growth is still positive, it has been beginning to decline year over year. Generally a good recession indicator is job growth of 1% or less, indicating a recession may be on the horizon. In October, job growth came in at 1.4%, down from 1.9% early in the year. (For reference, excellent job growth rates of the "dot com" boom and before the great recession averaged a little over 2%, and were as high as 2.6%.) The current "stalling" of economic growth is not severe enough to provide a clear recessionary signal. Although job growth has declined, its still strong enough to help keep consumer spending on a positive path; consumer debt levels are still fairly low as well. The most important trend pointing towards a positive 2020 is a strong construction sector, a metric that shows how historically low mortgage rates have brought about a surge in demand for housing inventory. Greater builder confidence, combined with a tight supply of existing homes for sale are predicted to propel total housing starts as much as 6.2% across the country, with the housing sector alone expected to account for 1% of real GDP growth in 2020.  Moving our focus to the local economy, that of California and specifically Orange County: We are seeing job growth continue to slide, slightly further than the U.S. and even California, closing in on 1.3%, a far cry from the excellent 2.1% growth OC saw in 2018. This is a result of a drop in construction jobs from earlier in the year when rates were closer to 5%, as well as a decline in the transportation and warehousing sectors as a result of the trade war. This slide in job growth is compounded by recent population growth decline and out-of-state migration over the past few years, may end up constraining long-term future home building in the county. However, in the short run, higher housing affordability due to low rates and a tight supply of housing will lead to strong market conditions in 2020. Inventory numbers are quite low right now, and with rates as low as they are, there are buyers out there. Given these conditions however, those buyers just won't have as much freedom of choice like they did in the beginning of this year.                    ALL SALES BY THE HORTON TEAM IN 2019 397 Weymouth, Laguna Beach Represented Seller Sale Price: $7,370,000 5bd, 6.5ba, 4,949 sqft   10 Bay Drive, Laguna Beach Represented Buyer Sale Price: $5,340,000 4bd, 5.5ba, 3,418 sqft   12 N Portola, Laguna Beach Represented Seller Sale Price: $3,300,000 3bd, 3ba, 2,441 sqft   674 Seaview St, Laguna Beach Represented Buyer Sale Price: $3,000,000 5bd, 4ba, 2,500 sqft   1189 Catalina St, Laguna Beach Represented Buyer Sale Price: $2,100,000 3bd, 2.5ba, 2,000 sqft   3143 Bonn Dr, Laguna Beach Represented Seller Sale Price: $1,750,000 4bd, 3ba, 2,057 sqft   480 Thalia, Laguna Beach Represented Seller Sale Price: $1,700,000 2bd, 2ba, 1,207 sqft   934 La Mirada, Laguna Beach Represented Seller Sale Price: $1,564,000 3bd, 2ba, 1,734 sqft   785 Bluebird Canyon, Laguna Beach Represented Seller Sale Price: $1,500,000 3bd, 2.5ba, 2,585 sqft   1098 Wykoff, Laguna Beach Represented Seller Sale Price: $1,450,000 3bd, 3ba, 1,642 sqft   1489 Regatta Road, Laguna Beach Represented Seller Sale Price: $1,430,000 4bd, 2ba, 1,831 sqft   1490 Del Mar Ave, Laguna Beach Represented Buyer and Seller Sale Price: $1,420,000 3bd, 3ba, 1350 sqft   454 Broadway , Laguna Beach Represented Seller Sale Price: $1,400,000 3bd, 3ba, 2,174 sqft   895 La Mirada, Laguna Beach Represented Buyer Sale Price: $1,250,000 2bd, 1ba, 1,188 sqft   31984 Coast Highway, Laguna Beach Represented Buyer Sale Price: $1,190,000 2bd, 2ba, 980 sqft   605 Glomstad, Laguna Beach Represented Seller Sale Price: $1,173,200 2bd, 1ba, 798 sqft   3 Seabridge, Laguna Niguel Represented Buyer Sale Price: $1,045,000 4bd, 3ba, 2,552 sqft   336 Canyon Acres, Laguna Beach Represented Buyer Sale Price: $765,000 2bd, 1ba, 725 sqft   21711 Wesley Dr #B, Laguna Beach Represented Buyer and Seller Sale Price: $655,000 2bd, 1ba, 900 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 2841 Ridge Dr - For Rent 4 bd, 4.5 ba, 4,400 sqft $8,900 / mo 1576 Del Mar Ave - For Rent 3 bd, 2 ba, 1,476 sqft $4,200 / mo MARKET STATISTICS Laguna Beach Active - 207 (Down 17% vs. Nov.) Pending - 37  (Down 5% vs. Nov.) Sold in November - 22 (Down 48% vs Oct.) Under $1,000,000 - 0 $1,000,000 - $2,000,000 - 14 $2,000,000 - $3,000,000 - 5 $3,000,000 - $5,000,000 - 3   Learn More THE HORTON TEAM www.HortonsinLaguna.com

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