Not so good news articles on Orange County Coastal Real Estate

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Not so good news articles on Orange County Coastal Real Estate

ORANGE COUNTY REGISTER BUSINESS SECTION  4/11/2010

Jonathan Lansner

“SOUTH COUNTY STRENGTH ISN’T UNIVERSAL”

The “hardest” markets to sell a home are Corona Del Mar, Laguna Beach, Newport Beach, Newport Coast and Seal Beach. They have a combined market time of 7.5 months and were 17 percent of the Orange County homes for sale and 5 percent of homes in escrow.

9.26 months to sell all Orange County homes listed for $1 million-plus at current sales pace vs. 2.02 months for cheaper homes.

ORANGE COUNTY REGISTER BUSINESS SECTION  4/11/2010

Marilyn Kalfus

“FROECLOSURES ARE HOT SELLER’S MARKET”

The County high shares are. Anaheim with 65%, Rancho Santa Margarita with 58% Aliso Viejo with 57%

ORANGE COUNTY REGISTER BUSINESS SECTION 4/8/2010

AP

“MORTGAGE RATES RISE ABOVE 5%”

The era of record-low mortgage rates is over. We are seeing some panic among potential buyers who have not found houses yet. It’s all about affordability. For every 1 percentage point rise in rates, 300,000 to 400,000 would-be buyers are priced out of the market in a given year. The rule of thumb is that every 1 percentage point increase in rates reduces a buyer’s purchasing power by about 10 percent.

LA TIMES BUSINESS SECTION 4/8/2010

Lauren Beale

“FORECLOSURE AUCTION OF CAGE MANSION IS A FLOP”

The property was listed at $35,000,000 and the opening bid was $10.4 million. No bids were placed and the property reverted back to the lender. There was $18 million in loans against the property by 5 different lenders. A 1st Deed Of Trust of $425,000 a second of $10.35 million, a third of $5.5 million and 3 more loans totaling $2.1 million all in 2008. The second Trust Deed is the one that foreclosed. The 12,000 sqft home was once owned by Dean Martin.


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Sean McCracken

As the OC Realtor I’ll help you find your special OC Coastal home at that special price. With my hand holding, I’ll take you through the buying process for the minimal amount of pain - Call Me @ 949-290-5317

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