Newport Beach CA Real Estate Sales Are Up 30 Percent This Year

Newport Beach CA home sales have been up so far this year 2012 - as compared with last year 2011.

71 Newport Beach homes have sold with closed escrows so far this month - as of August 30, 2012 - with average sold price of $1,604,147.

101 Newport Beach homes sold last month during July 2012 - with average sold price of $1,545,268.

619 Newport Beach homes have sold so far this year - as of August 30, 2012 - with average sold price of $1,380,861 - so 77 Newport Beach homes are selling on average per month this year.

• 277 of the sold Newport Beach homes this year have been under $1 million - 44.8 percent of selling market.
• 235 of those sold Newport Beach homes were between $1 million and $2 million - 38 percent of selling market.
• 66 of the sold Newport Beach homes were between $2 million and $3 million - 10.6 percent of selling market.
• 47 of the sold Newport Beach homes were over $3 million - 7.6 percent of selling market.

474 Newport Beach homes sold during the first 8 months of last year 2011 - with average sold price of $1,343,359.

So Newport Beach has seen homes sale numbers up 30 percent this year through August 30, 2012 - as compared with the same time last year.

 

345 Newport Beach homes are now listed for sale - as of August 30, 2012 - with average asking price of $2,752,380.

Dover Shores home at Newport Beach - listed at $2,595,000 - 4 bedrooms and 4 baths - 3899 sf interior - MLS# L39443 - IDX link

Balboa Island listings

Balboa Peninsula listings

Big Canyon listings

Harbor View homes listings

Newport Beach listings

Newport Heights SFR listings

 

 

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Source of information is CRMLS and IDX links is includes property sold by all agents and brokers.

Contact us here about listing and sale of Newport Beach CA homes and real estate.

 

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, 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.

Posted via email from Explore OC Homes

Important Questions for Property Owners Who Are Short Selling

 

Home owners who are short selling should be asked some important questions: 

1.  Is your property already in active foreclosure? 

Active foreclosures can be determined by search of public records.  

2.  Do you have other debt? 

High debt-to-income ratio will probably prevent them from getting a loan mod.

3.  Is your financial hardship temporary? 

If it is temporary, you might want to do a loan mod and not a short sale - cannot do both at the same time. 

4.  Would you accept a loan mod if offered to you? 

Some distressed borrowers want to move on and leave their property - Whether you will accept a loan mod should be determined by people involved in the listing and any short sale deal.

5.  Have you spoken with other advisers about your financial situation? 

Home loan borrowers need to know about their options - including possible loan mod, short sale, foreclosure, deed-in-lieu of foreclosure, and bankruptcy. 

 

ORANGE COUNTY HOMES AND REAL ESTATE

 

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Source of some information is Melissa Zavala, expert short sale negotiator - http://www.facebook.com/shortsaleexpeditor

Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® broker representation and help for property owners, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, estate guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Posted via email from Explore OC Homes

Turtle Rock Highlands Lusk Homes at Irvine CA Real Estate

Turtle Rock Highlands Lusk homes is a most popular and sought after residential community for home buyers at Irvine CA real estate.

Highlands Lusk is well-known for its large single family detached homes built during 1977-78 - with 168 total homes located on Bluff View, Cedar Ridge, Clear Spring, Flintridge, Rimrock, Silver Crescent, and Sunburst.

16 Bluff View - Turtle Rock Highlands home - listed for sale at $2,000,000 - 5 bedrooms and 6 baths - custom home with 4,366 sf interior size - MLS# S705122 - IDX link

The Highlands has a beautiful community park - many of the homes have hills views toward Shady Canyon.

Four Highlands Lusk homes have sold so far this year - with average selling price of $1,448,750 - most receiving multiple offers and average time on market of 48 days.

See TURTLE ROCK HIGLANDS LUSK LISTINGS at Irvine CA real estate.

Contact us here if you want information about selling and buying of Turtle Rock Highlands Lusk homes at Irvine CA real estate.

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Source of some information is CRMLS and is for information only.

Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® broker representation and help for property owners, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, estate guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Posted via email from Explore OC Homes

Costa Mesa CA Housing Market Has Buyers and Needs More Listings

Costa Mesa CA is a popular city for home buyers at Orange County - is located just inland from Newport Beach and about two miles from Newport Harbor.

Investors and buyers have liked Costa Mesa CA real estate. 

REALTORs® and brokers at Costa Mesa sold 105 short sales so far this year 2012 (22.8 percent of market) - with average sold price of $397,647.

460 total Costa Mesa homes were sold so far this year 2012 - with average sold price of $479,593.

69 Costa Mesa home sales were REO lender owned after foreclosure (15 percent of market) - average sold price of $379,935.

Costa Mesa now has only 112 properties listed for sale, and the market has buyer demand and needs more listings.

REALTORs® and brokers at Costa Mesa are selling on average 62 homes each month - with average market time that it would take to sell all homes listed at this rate is less then 2 months - which is very fast and favors sellers big time.

Costa Mesa CA housing market is similar to other cities and areas at Orange County CA where markets have lots of buyers and needs more listings.

Costa Mesa CA SFR property listings

 

East Costa Mesa SFR listings

 

East Costa Mesa condo listings

 

 

Contact us here if you want information about selling and buying of properties at Costa Mesa and Orange County CA real estate.

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Source of some information is CRMLS and is for listings and sales by all agents and brokers.

Contact us about listing and sale of property at Costa Mesa and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, 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.

Posted via email from Explore OC Homes

Excellent Purchase Money and Mortgage Loan Rates

Even after recent market rate upswings, purchase money and mortgage loan rates are excellent for home buyers and refinancing borrowers.

Mortgage brokers here at Orange County CA on August 18, 2012, quoted the following rates on conforming loans to $417k:

Thirty-year, fixed-rate mortgage: 3.875 percent - with one point

Fifteen-year, fixed-rate mortgage: 3.0 percent - with one point

Five-year ARM: 2.75 percent - with one point

FHA loan up to $362,790 - 30 year fixed - 3.5 percent - with one point

Jumbo loan to $625,500 - 30 year fixed - 4.0 percent - with one point

Super jumbo loans higher than $625k - 30 year fixed - 4.375 percent - with one point

Lender requirements to approve loans are high, and the mortgage market is returning to more healthy underwriting standards.

Contact us here if you want information about selling and buying of properties at Orange County CA real estate.

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Source of information is First Capital Mortgage - for information only and not the providing of mortgage loan services. We do not provide home loan or mortgages services and recommend that you contact a home loan or mortgage broker professional in your area. If you are at Orange County CA and want information about mortgage rates, contact Jim Power, First Capital Mortgage - jpower@firstcapitalmtg.com.

Contact us about listing and sale of property at Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, 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.

Posted via email from Explore OC Homes

All-Cash Home Buying is Up at Irvine CA Real Estate

Irvine CA real estate has experienced an increase in all-cash buyer deals.   During the first six months of 2012, one-third of Irvine homes sold were for all-cash.

More than 1,158 Irvine homes were sold during that time - with average sold price of $645,303 - at least one-third of those were sold for all cash.

That's an increase in Irvine cash buying as compared with prior years - 20 percent at Irvine in 2009, 26 percent in 2010 and 30 percent in 2011.

This increase of Irvine all-cash buying could be because of: (a) foreign cash investors, (b) challenges for buyers to get loans, and/or (c) investors believe prices are at or near the trench.

31 Irvine properties have sold for over a million dollars in cash deals during that time. The highest priced cash sale so far this year was at 44 Blue Heron, Shady Canyon, which closed for $12.8 million - which also is the highest price home sold at Irvine so far this year.

Contact us here if you want more information about selling and buying of properties at Irvine CA real estate.

Source of some information is OCRegister.com and CRMLS.

Contact us about listing and sale at Irvine and Orange County CA homes and real estate. ~ Professional REALTOR® broker representation and help for property owners, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, estate guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Posted via email from Explore OC Homes

Investors Like Orange County CA Residential Property Opportunities

 

Real estate investors like Orange County CA residential real estate and now have a new advantage.

Orange County’s home buying was up this year during July 2012 - Buyers purchased 3,087 homes in July, which is 25.7 percent more than in July 2011 - the largest year-over-year percentage increase in sales in more than three years - home buying was up at 67 of 83 Orange County ZIP code areas. 

Median sold price of an Orange County home – the price at the midpoint of all sales – was $450,000 in July 2012 - which is way up from trench during February this year. 

 Image by the Orange County Register

 

1031 Exchange of property income tax break for Investors 

If an investment property is sold, Section 1031 of the Internal Revenue Code allows the seller to defer the payment of capital gains taxes.  In order for the entire tax liability to be deferred, the taxpayer must reinvest all of the sale proceeds and buy a property of equal or greater value, and the new property must be acquired within 180 days.  There are significant requirements set forth in Section 1031, and smart investors consult with income tax professionals and real estate attorneys.

There are solid reasons for Orange County CA real estate investors to continue to like buying and selling of residential properties.  

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Source of some information is OCRegister.com - This is for information only and is not the providing of legal or professional investment advice. If you want to buy or sell real estate as investment, you should contact an experienced income tax professional or real estate attorney in your area. 

Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® broker representation and help for property owners, trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, estate guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Posted via email from Explore OC Homes

Irvine CA Real Estate - Foreclosure Update

Irvine CA has a robust economy and home resale market. 

 

1,356 Irvine homes were resold from January 1 to July 31, 2012 - an average of 194 resold each month - with average resold price of $656,443.

Irvine also has some distressed properties and foreclosures in the pipeline.

86 notices of default were recorded re Irvine properties during July 2012.

64 notice of trustee sale auctions after foreclosure were scheduled re Irvine properties during July 2012.

350 Irvine properties are now scheduled for trustee auction sales at some time during the next two months.

255 Irvine properties are now in preforeclosure where notices of default have been recorded.

Contact us here if you want more information about foreclosures at Irvine CA real estate.

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Source of some information is ForeclosureRadar.com and CRMLS.   This is for information only and is not the providing of professional legal or real estate services. If your property is in the foreclosure process, you should consult with an experienced real estate attorney about your rights and responsibilities.

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

 

Professional REALTOR® agent representation and help for property owners, trust estate representatives, probate estate managers, executors and heirs, 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.

Posted via email from Explore OC Homes

Hot With Buyers for Homes - Orange County CA Needs More Sellers

Orange County CA now has the fastest home reselling market time since 2006 -

but the supply of homes listed for sale is at a seven-year low.

 

OC home buyers have competition with each other now and limited choices -

Number of OC homes for sale first part of August was lowest supply since 2005 - and down 33 percent from last year 2011.

Prognosticators were wrong when they predicted the past two years that many distressed properties would flood and hurt the Orange County housing market.

• Number of Orange County distressed homes listed – foreclosures and short sales – is down 79 percent this year.
• Trustee auction sales by lenders for sale is down 77 percent as compared with last year.
• Short sale listings are down 79 percent from last year.
• Distressed listings at Orange County are down 79 percent from last year.
• Lenders inventory of distressed property at Orange County is down 15 percent from last year.
• So-called shadow inventory of foreclosures isn't getting through trustee auction sales process, so these properties aren't on the market.

It's a hot market now favoring sellers at Orange County -  average “market time” is very fast - that time it would take to theoretically sell all homes now for sale at current rate of sale.

Regular equity listings at Orange County CA numbers are not enough for buyers - 40 percent down at start of August as compared with last year 2011.

Home owners at Orange County who have equity - and those who are recovering equity - should get moving now and selling - while times are so hot with motivated buyers.

 

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Source of some information is OCRegister.com and ReportsOnHousing.com.

Contact us about listing and sale at Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, 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.

Posted via email from Explore OC Homes

Why Now Is an Especially Good Time to Buy a House as Investment

Recent article at the Wall Street Journal - "Finally, It Is Time to Buy a House" - reminded of what Warren Buffett said - "Be fearful when others are greedy, be greedy when others are fearful."

Why now is an especially good time to by a house as investment.

Financially qualified people have feared the housing market about buying recently - even with amazingly good purchase money mortgage rates.

Housing prices in the U.S. rose sharply from April to May 2012 - while foreclosures slowed and inventories of homes for sale were down.

When supply of distressed property slows, economics show that buyers will be forced into higher-price properties.

Housing starts at the US were up in June 2012, and home building company stock prices are going up.

Rents of homes in the US continue to go up and are now at a ten year high.

If you can buy a house and rent it out, especially if you have twenty percent down payment and equity, rent received would hopefully cover the cost of financing and property taxes.

Top five reasons that in this economy climate buying a house can be a good long-term investment:

1. Financing is amazingly cheap.
2. Home selling prices have been driven down.
3. Rents are up.
4. Number of distressed homes for sale is low.
5. Pent-up housing demand is high

So now could be a great time for you to be "greedy" and get going as a house buyer and real estate investor.

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Source of some information is David Weidner and WSJournal.com.   This is for information only and is not the providing of professional investment advice.  Buying a house can be risky as investment and should be considered according to the investor's goals and timing.

 

Contact us here about listing and sale of property at Dover Shores Newport Beach - and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, 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.

Posted via email from Explore OC Homes

Orange County CA Great Park Balloon Ride in the Sky

 

Continued debate goes on about the Orange County Great Park and whether it can or should get funding for development from the State of California, government and private companies in the future. 

While local political debate continues -

Members of the public should at least check out and take a ride on the giant OC Great Park orange balloon, which hovers above the ground - the once upon a time U.S. El Toro Marine Corps Air Station at Irvine.

The Orange County Great Park is now involved in what its board hopes to be gradual conversion of the former Marine Corps Air Station El Toro into a 1,347-acre public playground - which is expected to take years in the future.

The Great Park Balloon is a helium-filled ball with a people-carrying basket beneath it - the ride is free.

Permanently tethered and big enough to hold about 25 people, the OC Great Park balloon will go up about 400 feet from the ground - you can see for miles on a clear day - and operation is subject to weather permitting.

The balloon ride typically lasts eight to 10 minutes - you can see the old El Toro Marine Corps air station runways - hills and homes beyond - and the Great Park's planted strawberry fields.

A good time for the balloon ride might be on a Sunday when the farmers market is going on.  

The OC Great Park is located about about 2 miles southwest from the Irvine Spectrum Center.

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Source of map image is OCRegister.com  

            

We help people with their best decisions about real estate, listing and selling of homes and properties at Orange County, California. 

 

Posted via email from Explore OC Homes