Home Loan Rates Still Amazingly Good at Orange County CA

Home loan mortgage rates still excellent at Orange County CA – July 7, 2017

 

Source of these home loan rates information is: 

Jim Power
United American Mortgage Corporation
19782 Macarthur Blvd, Suite 250
Irvine CA, 92612
Phone: 949-295-6014
jpower@uamco.com
NMLS # 260926
BRE # 01027174
BRE # 00976701

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Amazingly Low Home Loan Rates are Still Available at Orange County CA – June 23, 2017

Amazingly low home loan rates are still available for buyers and those who want to refinance at Orange County CA.  

Source of these home loan rates information is: 

Jim Power
United American Mortgage Corporation
19782 Macarthur Blvd, Suite 250
Irvine CA, 92612
Phone: 949-295-6014
jpower@uamco.com
NMLS # 260926
BRE # 01027174
BRE # 00976701

Posted in Home buying, Home buying guide, Home buying Strategy, Irvine real estate, Mortgage lending, Mortgage loan rates | Tagged , , , , , , , , , , , , , , | Leave a comment

27 Homes Listed for Sale That Are Priced Under $500k at Irvine Real Estate

Watermarke Irvine homes

Irvine CA has 27 homes now listed for sale that are priced under $500k – click here for information.

Home buyers should take advantage of these Irvine home opportunities now during summer months.

Irvine has about 265,000 residents now and is the economy powerhouse at Orange County with jobs and employment – and continues to be the top home selling city in the county.

Connect with us about Irvine home listing and selling process and learn what your home is worth in today’s market.

Source of information for this article is CRMLS multiple listing service and is for homes represented by all brokers and agents.

We will provide the best customer service experience for you as sellers, buyers, and investors.

Presented By Harrison K. Long – REALTOR® and professional real estate representative. Real estate broker – CALBRE #01410855.  Honored as “Orange County REALTOR® of the Year 2016” by the Orange County REALTORs®.

Have questions?  Contact us by cell or text at 949-701-2515 for Irvine home selling and buying information.

“Irvine CA Has 27 Homes now listed for sale at less than $500k.”

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Orange County CA Home Selling Market Update – April 24, 2017

OC Property NewsOrange County Home Selling Market Update is Hot at Price Range Up to $1 million.

What is your home worth?

What is your home worth in today’s market?

Active listing inventory of Orange County homes for sale increased by 5% recently and now totals 5,263 homes currently listed for sale.

Price range below $500,000 is slowly disappearing.  There are 40% fewer homes on the market below $500,000 compared to last year at this time – and demand is down by 25%. Fewer and fewer homes and condominiums are now priced below $500,000.

Orange County home buying market demand – the number of pending home sales over the prior month – is stable.  Current market is now close to 3,000 pending sales – a sign that the hottest time of the year has arrived.

The average Orange County home price of pending sales is $895,476.  The average list price for all of Orange County homes remained at $1.6 million, and this high number is because of mix of homes in luxury ranges that are priced incorrectly and sit on the market too long.

Orange County Great Park balloon

  • For homes priced below $750,000, the market is HOT with an expected market time of just 33 days. (This range represents 37% of the active inventory and 59% of demand).
  • For homes priced between $750,000 and $1 million, the expected market time is 49 days, a seller’s market (less than 60 days, and this range represents 19% of the active inventory and 21% of demand.
  • For luxury homes priced between $1 million to $1.5 million, the expected market time is at 84 days.
  • For homes priced between $1.5 million to $2 million, the expected market time is 116 days.
  • For luxury homes priced above $2 million, the expected market time is at 189 days.
  • The luxury end, all homes above $1 million, accounts for 44% of the inventory and only 20% of demand.
  • The expected market time for all homes in Orange County is at 53 days and is a solid seller’s market (where it is less than 60 days).

Orange County home selling market time is expected to slowly rise throughout the Spring and Summer Markets, moving from a deep seller’s market to a slight seller’s market.

There were 2,792 closed Orange County homes sales in March 2017, a 49% increase over February 2017 and a 9% increase over March 2016 – and 97% of all home sales were equity sellers.

CONTACT US

Contact us for more information about ORANGE COUNTY CA homes and information for the home selling and buying process. 

By Harrison K. Long – Professional real estate representative and REALTOR®.  Real estate broker – CALBRE #01410855.  Broker associate, HomeSmart Evergreen Realty.  Honored as “REALTOR® of the Year 2016” by the Orange County REALTORs®.  Also an attorney member of CA State Bar Association #69137.

Source of some information is ReportsOnHousing.com and is for homes sold by all brokers and Realtor agents.  We provide the best up-to-date Orange County real estate market information for friends and clients.  Contact us for more information by cell or text at 949-701-2515.

“Orange County CA Housing Market Update – April 24, 2017”

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St. Patrick’s Day Orange County Housing Market Update

Happy St. Patrick’s Day

Orange County CA Housing Market update – March 17, 2017

Current Orange County housing market is hot with very low inventory and big-time buyer demand.

A driving force for buyers is to jump on today’s historically low interest rates before they rise again.

Securing a low rate now allows buyers to get more house for their money.  As the economy continues to improve, mortgage rates go up.  For buyers interested in cashing in on today’s low rate environment, the window of opportunity is closing.

Orange County homes for sale listing inventory increased by 111 homes in the past couple of weeks (a 2% rise) and now totals 4,571.

There are 11% fewer homes that have come on the market for sale so far this year compared to 2016.

The inventory of homes for sale is expected to start to go up as the market transitions into the spring – and will most likely peak in mid-August.

Market demand (the number of pending sales at Orange County over the prior month), decreased by 3% in the past couple of weeks, dropping by 75 and now totals 2,576.  Today’s demand is 4% lower than last year when it totaled 2,671. The average pending price is $823,575.

  • The average list price for all of Orange County is $1.7 million, and this high number is due to large number of homes for sale in the luxury ranges that sit on the market – and also recent influx of luxury listings.
  • For homes priced below $750,000, the market is hot with an expected market time of just 31 days – and this range represents 37% of the active inventory and 64% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 55 days, a seller’s market (less than 60 days). This range represents 19% of the active inventory and 19% of demand.
  • For luxury homes priced between $1 million to $1.5 million, the expected market time is at 87 days.
  • For homes priced between $1.5 million to $2 million, the expected market time increased is 133 days.
  • For luxury homes priced above $2 million, the expected market time increased and is now at 252 days.
  • Luxury homes above $1 million account for 44% of the inventory of homes for sale and only 17% of market demand.

Orange County Great Park balloon

The expected market time for all homes in Orange County increased slightly in the past couple of weeks from 50 to 53 days, and it’s still a solid seller’s market.

Foreclosures at Orange County in February accounted for just 1.2% of all closed sales and short sales accounted for 1.9% – so 96.9% of all home sales were equity sellers.

 

CONTACT US

Contact us for more information about ORANGE COUNTY CA homes and information for the selling and buying process. 

By Harrison K. Long – Professional real estate representative and REALTOR®.  Real estate broker – CALBRE #01410855.  Broker associate, HomeSmart Evergreen Realty.  Honored as “REALTOR® of the Year 2016” by the Orange County REALTORs®.  Attorney member of CA State Bar Association #69137.

We provide the best up-to-date Orange County real estate market information for friends and clients.  Source of some information is ReportsOnHousing.com and is for homes sold by all brokers and Realtor agents.  Contact us for more information by cell or text at 949-701-2515.

“Orange County CA Housing Market Update – March 17, 2017”

Posted in Housing market update, Market update, Orange County home buying, Orange County home selling, Orange County home values, Orange County Property News, Orange County real estate | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

U.S. Federal Reserve Raised Lending Rates Again Today

The U.S. Federal Reserve raised rates today for 2nd time in three months.

Click here to see article published by the Federal Reserve accordingly today. 

We expect that mortgage and home loan rates will be bumped up within the next two days.  However, many lenders were expecting this and already hedged their home lending rates up in anticipation.

Question is what impact this increasing of lending rates will have on mortgage home loan rates and on home buyers at Orange County CA – and especially first time home buyers.

Contact us by cell or text at 949-701-2515 about information for process of your Orange County CA home selling or buying.

By Harrison K. Long, Professional real estate representative and REALTOR®,  HomeSmart Evergreen Realty.  Recently honored as “REALTOR® of the Year 2016” by the Orange County REALTORs®.  Representing sellers, buyers and investors.  Real estate broker CALBRE #01410855.  Currently serving as an appointed director at the California Association of REALTORs®.  

CONTACT US hereSource of information for this article is the article published by the Federal Reserve.

“U.S. Federal Reserve Raised Lending Rates Again Today”

 

Posted in Home selling guide, Mortgage lending, Mortgage loan rates, OC home value guide, OC Property news | Tagged , , , , , , , , , , , , , | Leave a comment

Orange County CA Home Selling Market Conditions Are Perfect

Lido Isle homes

Orange County home sellers will find market conditions perfect for selling now (January to February 2017).

With such hot housing market conditions, there is no need to wait until Spring to list and sell your home.

Orange County has very low number of homes for sale and solid market buyer demand at the same time.

If you are a homeowner who wants to sell, don’t wait until the “Spring Market”.

Conditions are best now for home selling – during February 2017.

Homes that are priced below $1.5 million are in a HOT market, and the market is also hot where prices are below $750,000.

Why are the home selling conditions so favorable compared to the last few years?  Current buyer demand is strong, and the active inventory is at anemic low levels. Compared to last year, there are 11% fewer homes on the market now, and 19% fewer than 2015.  Market demand (new pending sales over the prior month) is very similar to 2016.

The expected market time (the time it would theoretically take to list a home today and then place it into escrow) dropped from 84 days two weeks ago to 67 days on January 29 – because supply of homes for sale dropped slightly while demand (new pending sales) were up.

What keeps buyer demand from being even higher today is the lack of homes for sale inventory. Sellers who opt to sell now and don’t wait until spring are taking advantage of a ripe market.

When a home is priced closed to its “Fair Market Value” and is in good condition, it should move off the market quickly.

Home sellers should work with an experienced and qualified Realtor agent who will negotiate for your best interest.

Carefully pricing by seller will result in selling at or above the asking price.

But pricing the home too high will result in wasting valuable market time, which is the first 3 weeks after coming on the market.

For those who opt to “wait until the spring,” there will probably be more buyers looking to purchase, but there will also be a big increase in number of sellers.

Increased buyer demand usually is followed by increased supply and more homes for sale.

Contact us by cell or text at 949-701-2515 about listing and selling your home.

By Harrison K. Long, Professional real estate representative and REALTOR®,  HomeSmart Evergreen Realty.  Recently honored as “REALTOR® of the Year 2016” by the Orange County Association of REALTORs®.  Representing sellers, buyers and investors.  Real estate broker CALBRE #01410855.  Currently serving as an appointed director at the California Association of REALTORs®.  

Connect with us by cell or text at 949-701-2515.

CONTACT US hereSource of some information for this article is Steven Thomas and his ReportsOnHousing.com.

“Orange County CA Home Selling Market Conditions Are Perfect”

Posted in Market update, OC home value guide, OC Property news, Orange County home buying, Orange County home selling, Orange County home values, Orange County Property News, Orange County real estate | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

PACE Liens Financial Disclosure and 3-Day Rescission Right – New CA Law Effective Jan. 1, 2017

CA laws and Real EstatePACE Liens Financial Disclosure and 3-Day Rescission Right – New CA Law Effective Jan. 1, 2017

  • A property owner may not participate in a PACE lien program without delivery of a detailed financial disclosure document received before contractual consummation.
  • The disclosure document must contain a variety of notices and warnings including a notice that the property owner may not be able to refinance or sell without paying off the PACE obligation. The property owner also retains a 3-day rescission right detailed in a statutory form.
  • Statements as to increased value of the property cannot be made unless based on a valuation as specified.
  • Existing law requires home loans to be accompanied by the Truth in lending RESPA Integrated Disclosure (TRID), which is intended to allow an “apples to apples” comparison shopping of various loan products.
  • PACE transactions are technically not loans and are not required to be accompanied by a TRID disclosure.
  • Current law gives delinquent PACE assessments “super-priority” status, as part of the tax bill, over other recorded obligations; lenders require these “super liens” to be paid off before any new financing can be obtained.
  • Requires a TRID-like disclosure be provided to a property owner participating in a PACE program, a 3 day right of rescission, and a notice that the property owner may not be able to refinance or sell without paying off the PACE obligation.
  • Prohibits making monetary or percentage representations of increased value to a property owner regarding the effect the financed improvements will have on the market value of the property unless the estimate of market value is based upon either “an automated valuation model,” a broker price opinion or an appraisal by a licensed appraiser.

AB 2693 codified as Government Code § 53328.1 and Streets and Highways Code §§5898.15, 5898.16 and 5898.17.

By Harrison K. Long, real estate attorney at Orange County CA – Member of CA State Bar Association #69137.  Real estate broker – CALBRE #01410855.  Source of information is the California Association of Realtors and CA legislative and laws information.  This is for information only and is not the providing of legal services.

real-estate-attorneyFor further information and/or professional legal services consultation, contact Harrison by text or cell at 949-701-2515 – or by email at ExploreProperties@gmail.com.  

“PACE Liens Financial Disclosure and 3-Day Rescission Right – New CA Law Effective Jan. 1, 2017”

Posted in CA real estate laws, California laws, California real estate, Home selling guide, OC home value guide, OC Property news, PACE financing | Tagged , , , , , , , , , , , , , , , , | Leave a comment

223 Via Eboli, Lido Isle at Newport Beach CA

223 Via Eboli – Lido Isle exclusive residential community at Newport Harbor

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 Classic, single-level Lido Isle beach cottage at prime street-to-strada location.

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Sought-after, quintessential and exclusive Lido Isle community.

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Sunny, south facing and gated courtyard with Mediterranean-style fountain. Dutch door carries ocean breezes into the light and airy interior of home.

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Expansive main living area features open beam ceiling, picture window toward the courtyard, fireplace and wrap around hearth ~ the perfect space to relax and entertain!

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Bright kitchen upgraded with stainless steel appliances, 5-burner Dacor convection/range & refrigerator.

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Master bedroom has fireplace, built-in shelves, large walk-in closet with organizer system, and en suite bath w/ dual vanity.

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Garden area on the strada.

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Private community playground and beach at Newport Harbor.

5953672300_e250602714_zFabulous Lido lifestyle and world class amenities ~ private community clubhouse, Yacht Club, sailing, tennis courts, beaches, boat docks, parks and social activities. Come see this best value and opportunity at Lido!

Click here to see more information and photographs. 

CRMLS multiple listing service #OC16718800

Property Presented by Christi and Harrison Long, Real Estate Professionals and Realtors.  Please contact us by cell or text at 949-701-2515.  CALBRE #01410855 and CALBRE 01438859.

“223 Via Eboli – Lido Isle at Newport Beach CA”

Posted in Home selling guide, Home selling tips, Lido Isle homes, Newport Beach CA, Newport Beach homes, Newport Beach listings, Newport Beach real estate, Newport Beach REALTOR®, Orange County home selling, Orange County Property News | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

East Costa Mesa CA Real Estate Market Still Favors Sellers

East Costa Mesa CA Real Estate Market still favors sellers who are happy with solid home sales and prices.   

East Costa Mesa single level home

East Costa Mesa single level ranch-style home

East Costa Mesa

East Costa Mesa is famous for its single level ranch-style homes that were originally built between 1953 and 1965.

72 East Costa Mesa homes were sold during the three months ending August 31, 2016. 

  • $960,400 was average home selling price at East Costa Mesa during those 3 months.
  • 1,796 sf was average interior size of East Costa Mesa homes sold during that time.
  • $534 per SF interior size was average home selling price at East Costa Mesa during that time.
  • 70 days was average time on market for those sold East Costa Mesa homes.

61 East Costa Mesa homes were sold last year during same three months ending August 31, 2015.

  • $917,705 was average home selling price at East Costa Mesa for that time last year ending August 31, 2015.
  • 1,808 sf was average interior size of East Costa Mesa homes sold during August last year.
  • $507 per SF interior size was average home selling price at East Costa Mesa during that time end August 31, 2015.
  • 62 days was average time on market for those sold East Costa Mesa homes same time last year.

East Costa Mesa homes

East Costa Mesa homes

What this means:

East Costa Mesa continues to be a hot market that favors sellers.

East Costa Mesa home sales are up 19.6 percent this year as compared with same time last year.

Average home selling price is up 4.8 percent this year as compared with same time last year at East Costa Mesa.

East Costa Mesa is one of the most popular areas for home buyers and renters at Orange County CA. 

Connect with Us HereContact us here to see East Costa Mesa homes and selling values and property opportunities.

By Harrison K. Long – Realtor, professional real estate representative. Real estate broker – CALBRE #01410855 – contact by cell or text at 949-7021-2515.

Source of information is CRMLS multiple listing service and is for homes represented by all brokers and agents – and does not include data for new home sales directly from the builders to the public.

See East Costa Mesa homes for sale – click here

“East Costa Mesa CA Real Estate Market still favors sellers.” 

Posted in Costa Mesa home values, Costa Mesa homes, Costa Mesa Live, Costa Mesa real estate, Distressed properties, Home selling guide, Market update | Tagged , , , , , , , , , , , | Leave a comment