Fast Buyers Now Dominate Orange County CA Home Selling Market

 

Orange County CA home selling stays hot with fast buyers climbing over each other at market to find a good deal.

This buyer excitement creates lots of competition for foreclosures and popular properties priced at under $750k. 

• Orange County has only 14 days of average market time on foreclosure listings. 

Only 206 foreclosure listings are now on the market - which is a 67 percent drop in past five months since start of this year.

• Foreclosure listings are selling at full asking price - on average.

Less than 30 days of short sale listings inventory are now on the market - average market time. 

• Only 912 short sales are now listed - which is a 64 percent drop since start of this year 2012.

Short sellers don't generally need to discount their listings from value to get buyer attention - short sales are selling for average price of about 97 percent of listing price.

For Orange County homes under $500k, average market time is 30 days.

For home $500k to $750k, average market time is 44 days.

For homes $750k to $1 million, average market time is 70 days.

 

Orange County CA for sale listing inventory continues to drop - with lots more buyers than sellers - expected to remain this way through the summer 2012.

Woodbridge Irvine single family home - $928,000 - 4 bedrooms and 3 baths - MLS# S691809 - IDX link

 

 

WOODBRIDGE IRVINE - single family home listings 

Home buying at IRVINE and ORANGE COUNTY is popular again - where real buyers are qualified, have down payment and act quickly - are prepared to make offers on well-priced properties.  

 

 

____________________________________________________

 

If you are a motivated buyer at Orange County CA real estate, hire an experienced and qualified REALTOR® now and be prepared to make quick offers.   

Source of some information is Stephen Thomas and ReportsOnHousing.com and CRMLS.

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County CA real estate 

Posted via email from Explore OC Homes

REALTORs(R) Supporting the American Dream of Home Buying and Ownership

 

REALTORs® support the American dream of buying and home ownership.

 

Many of us believe that REALTOR® support is and should be special for those who are financially qualified.

The National Association of REALTORs® legislative and business meetings Washington DC this month involved the large number of real estate agents urging lawmakers to “protect the American dream” of home ownership.

REALTORs® want to maintain the "status quo" on four tax code provisions - which would help homeowners, prospective buyers, inspire home builders and support the nation’s economy.

• Mortgage interest tax deduction 

REALTORs® oppose any legislation that would reduce or eliminate the mortgage interest deduction, the federal income tax deduction for interest paid on debt secured by a first or second home.  IRS Publication 936 provides detailed guidance on whether home mortgage payments are tax deductible.

• Property tax deduction

REALTORs® oppose any legislation that would reduce or eliminate the federal deduction for state and local property taxes.  

• Capital gains

REALTORs® support that homeowners are allowed to exclude from taxation the first $250,000 ($500,000 for married couples) of capital gain upon the sale of their home - still a strong incentive for home buyers.  IRS Publication 523 addresses the tax implications of the sale of your home. 

• Mortgage Forgiveness Debt Relief Act of 2007

REALTORs® advocate extending the Mortgage Forgiveness Debt Relief Act of 2007, which is set to expire later this year on December 31, 2012.

This law directs the IRS not to tax homeowners who have had certain mortgage debt forgiven by their lenders.  Before this law was started, this tax on so-called “phantom income” was challenging on two levels for people losing their homes in foreclosure.  Why?  "Forgiven debt" is generally taxable income.  

Unless this tax law - protection for homeowners - is extended beyond December 31, 2012, millions of underwater homeowners will be hurt even more than they are now.  These homeowners will be taxed on amount of money they were unable to pay to lenders - forgiven debt - prior to foreclosure.

_________________________________________________________________________

 

Source of information is article by Harvey S. Jacobs at WashingtonPost.com.  This is for information only and not the providing of tax or legal services.

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County CA real estate

Posted via email from Explore OC Homes

Orange County CA Treasurer to Auction Properties That Have Delinquent Unpaid Property Taxes

 

Orange County CA treasurer Shari Freidenrich announced that Orange County's property tax auction to sell real property with delinquent taxes of five or more years is on Thursday, May 31, 2012, at 10 am - in the Board Hearing Room in the county Hall of Administration - 333 Civic Center Drive, Santa Ana, CA. 

If you have not yet registered to receive updates on the tax auction, you can register at bos.ocgov.com/taxauctionreminder. 

All information about the auction, the properties to be auctioned, and the process can be found at bos.ocgov.com/taxauction.

Currently, there are 15 improved properties and 12 unimproved properties which will be sold at the auction unless the delinquent balances are paid in full by May 30, 2012.   

Source of information is Office of Orange County Treasurer

 

__________________________________________________________________________

Investors who want to buy at Orange County CA property tax auctions should be very careful and know exactly what they are bidding for and buying - and should consult with a real estate attorney and with title insurance company representative.

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County CA real estate

 

Posted via email from Explore OC Homes

Homes for Sale Listing Inventory Down at Orange County CA Real Estate

 

Listing inventory of homes for sale at ORANGE COUNTY CA REAL ESTATE has dropped to lowest number since June 2005.

Orange County CA now have current active listing inventory of 5,883 - according to CRMLS.

Highest point was June 2011 - when Orange County had 11,388 homes for sale on the market - so homes for sale inventory has been cut almost in half.

Homeowners who want to sell should get their properties ready and listed now and as soon as possible - being smart to price homes correctly to sell in this market. 

Irvine CA real estate and home selling maintains a solid pace - even with only 444 homes listed for sale - with average listing price of above $1 million.  279 Irvine homes went into backup or pending during the past 30 days - so average market time - the time it would theoretically take to sell all homes on market at this pace - is less than two months - and favors sellers. 

 

Woodbridge Irvine home - $1,060,000 listing price - 4 bedrooms and 3 baths - MLS# S696408 - IDX link

Contact us about Irvine and Orange County CA homes and real estate. 

________________________________________________

 

Source of information is ReportsOnHousing.com and CRMLS multiple listing service.

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County CA real estate 

 

Posted via email from Explore OC Homes

Turtle Ridge and Luxury Real Estate at Irvine CA

Turtle Ridge at Irvine CA - where residents and property owners are happy about communities with best of public schools, good jobs with career opportunities at private companies, some of the best weather anywhere, the University of California at Irvine, public libraries, places of worship, and excellent parks and biking trails.

People like Turtle Ridge Irvine for its hills ambiance, the quiet, views toward Newport Coast and the ocean, gated privacy, public parks, excellent schools, and some of the beautiful luxury homes in Orange County.

Brokers, Realtors and real estate professionals, have sold 26 Turtle Ridge homes so far this year - average sold price of $1,101,906 - which is average of 6.5 homes sold per month.

Turtle Ridge has 15 homes now in backup and pending status - some of these are short sales.

Turtle Ridge Irvine now has 28 homes listed for sale on the MLS - ranging from magnificent La Cima estate home with ocean view at $3,988,000 - to an Ashton Green condominium home at $425,000 - all with average asking price is $1,691,639.

Turtle Ridge home - $2,580,000 - 5 bedrooms and 5 baths - 4333 sf interior - MLS# S692351 - idx link

Turtle Ridge single family home listings

With current inventory of 28 homes for sale at Turtle Ridge - and selling 6.5 homes per month - average time on market to sell all homes would be about 4.3 months, which is balanced.

Contact us about Turtle Ridge at Irvine CA homes and real estate.

__________________________________________________________________________

Source of some information is CRMLS and IDX link - does not include that for new homes for sale or sold, those at trustee auctions after foreclosure, and includes those listed and sold by all agents and brokers.

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Turtle Ridge Irvine and Orange County CA real estate

Posted via email from Explore OC Homes

Foreclosure Home Selling Market is on Hot Fire Pace at Orange County CA Real Estate

 

Foreclosure properties are selling so fast at Orange County CA that average selling time for REOs - after lenders buy the properties at trustee auctions and list for sale again - is 18 days.

‎There are only 304 foreclosure REO lender owned homes now listed for sale at Orange County - this market needs more inventory to keep buyers happy.

Irvine CA - REO listings 

Newport Beach CA - REO listings

Laguna Beach CA - REO listings

Laguna Beach - REO listing - $1,499,000 - 3 bedrooms and 3 baths - MLS# L36457 - IDX link    

__________________________________________________________

Contact us about Orange County CA homes and real estate. 

Source of some information is ReportsOnHousing.com - and link to CRMLS - does not include that for new homes for sale or sold, those at trustee auctions after foreclosure, and includes those listed and sold by all agents and brokers. 

HARRISON K. LONG – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at California Association of REALTORs® – attorney member of the California State Bar Association #69137

Professional REALTOR® agent representation - help for property owner/sellers, private trust estate representatives, estate administrators and executors, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Turtle Rock Irvine and Orange County CA real estate 

Posted via email from Explore OC Homes