The Postive News on OC Coastal Real Estate

  • 0

The Postive News on OC Coastal Real Estate

Week Ending 6/7/2010

“Glass Half Full” Perspective

ORANGE COUNTY REGISTER BUSINESS SECTION 6/6/2010

Jonathan Lansner

“OCEAN BREEZES ARE IN DEMAND”

Homebuying tracking shows surprising momentum in beach-close areas. The market’s momentum seems to be at the beach with nine of the top 25 performers on the momentum rankings.

The increased volume and momentum points to the fact that the discrepancy between buyers and sellers has narrowed. The narrowing has come from sellers being more realistic and buyers being more optimistic.

ORANGE COUNTY REGISTER BUSINESS SECTION 6/6/2010

Jeff Collins

INDUSTRY LEADER SAYS HOUSING MARKET HAS HIT BOTTOM”

According to Parker Kennedy, CEO and Chairman of First American Corp…

I feel the values in some communities will drop but not by much. Values have improved. Investors are back in the market, which means we have hit bottom. I don’t think real estate markets will go back to where they were in ’05, but I don’t think they should…that was not realistic. We’re now back to a good real estate market. It is hard to get a loan however…

ORANGE COUNTY REGISTER BUSINESS SECTION 6/6/2010

Kelli Hart

“DISTRESSED ORANGE COUNTY HOMES…LOW SHARES”

Seal Beach                3.9%

Newport Coast        5.4%

CDM                           6.7%

Laguna Woods        6.8%

Laguna Beach          9.3%

ORANGE COUNTY REGISTER BUSINESS SECTION 6/6/2010

“TRENDS FOR ORANGE COUNTY HOME PRICES AND SALES ARE ALL UP FOR MAY”

PRICES

15.7 % increase for resale homes

34.9%  increase for new homes

13.5 % increase for resale condos

SALES VOLUME

7.0 % increase for resale homes

61.2%  increase for new homes

18.9 % increase for resale condos

Median price is up 12 percent from a year ago…$440,000 from $390,000 a year ago

Sales volume is up to 3,056 from 2,709 a year ago

ORANGE COUNTY REGISTER BUSINESS SECTION 6/6/2010

Jonathan Lansner

“BEST STATES FOR PRICE APPRECIATION”

The five best states for price appreciation, EXCLUDING distressed sales, in March were:

Maine                        Up 8.3 %

California Up 7.7 %

North Dakota          Up 6.4 %

Virginia                      Up 4.9 %

Montana                   Up 3.8 %

ORANGE COUNTY REGISTER BUSINESS SECTION 6/5/2010

Jonathan Lansner

“MEDIAN HOME SALE PRICE AT 21-MONTH HIGH”

The median of $440,000 was last seen in August of 2008. In this most recent period, orange County shoppers bought 2,056 residences, up 12.8 percent vs. year-ago buying activity. This sales pace is 85 percent of the average of 3,597 homes sold per month in the 20 years ended in 2009.

Home pricing is up in ZIP codes representing 70 percent of the current Orange County market.

ORANGE COUNTY REGISTER BUSINESS SECTION 6/4/2010

Jonathan Lansner

“HOME PRICES TO RISE 6% LOCALLY, STUDY SAYS”

Chapman University ‘s revised forecast…after price losses for Orange County of 23.2 percent in 2008 and 12.3 percent in 2009, Orange County will rise 6 percent in 2010 and 5.4 percent in 2011

HSBC PRIVATE BANK  5/2010

Mortgage Bulletin

“ARE MORE EXPENSIVE HOMES DOING BETTER”

Home price data of markets in California suggest that, on average, the more expensive homes have suffered smaller declines so far in the downturn. The most plausible explanation is that the markets with high-prices homes did not experience the same level of speculation during the market boom.

LOS ANGELES TIMES BUSINESS SECTION 6/3/2010

Alejandro Lazo

“PENDING HOME RESALES RISE 6%”

The number of previously owned homes that have opened escrow rose 6% in the US in April. Pending sales have risen for three straight months. Pending sales are at their highest level since October.

ORANGE COUNTY REGISTER BUSINESS SECTION 6/3/2010

“HOME SALES HELP DOW SHOOT UP 225”

The stock market rebounded Wednesday after a strong increase in pending home sales.


About Author

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

Leave a Reply