Orange County Real Estate Week Ending 3/2/2010 “Glass Half Empty” Perspective
Category : Laguna Beach Real Estate
LA TIMES BUSINESS SECTION 2/27/2010
“HOME SALES FALL SECOND MONTH IN ROW”
“In January, 7.2 percent fewer previously owned homes sold than in December. January sales were the lowest since June, but 11.5% higher than in January 2009.
ORANGE COUNTY REGISTER BUSINESS SECTION 2/25/2010
“NEW-HOME SALES FALL TO A NEW LOAN”
“The 11.2% drop in January surprised economist, who forecast a 5% rise.
ORANGE COUNTY REGISTER BUSINESS SECTION 2/23/2010
“SELLING A MANSION? EXPECT TO WAIT 3 YEARS”
“At the current pace, the overall market is a seller’s market without much appreciation at all. The number of distressed homes within the Orange County housing market is keeping a lid on appreciation. On the other hand, the higher end price ranges are experiencing a deep buyer’s market, the higher the price range, the deeper the buyer’s market. The hottest price range is homes priced between $250,000 and $500,000, with an expected market time of 1.75 months. Contrast that with homes priced above $4 million with an expected market time of 33.89 months.”
Homes listed for under a million bucks have a market time of 2.06 months vs. 8.57 months for homes listed for more than $1 million.