Sellers Favored in Decline of Orange County CA Active Homes for Sale Listing Inventory

The amazing decline in number of homes for sale listings at Orange County CA housing market favors sellers in a big way.

 

Hottest price range of Orange County CA homes selling are those below $750k - which makes up 57 percent of active for sale inventory - and 82 percent of Orange County buyer market demand.  

 

This price range at Orange County has average time to sell now at almost lightening fast pace of only 24 days.

Housing in this range at Orange County CA remains hot according Broker Steven Thomas who published his local market analytics report at ReportsOnHousing.com. 

Question is where are the new for sale listings that the Orange County housing market needs?

 

 

 

Active for sale inventory at Orange County CA real estate hit a new low - now at 3,543 homes for sale.

Irvine CA real estate is one of the busiest markets with only 252 homes listed for sale as of yesterday November 25, 2012 - Irvine needs about 750 for sale listings to be balanced.  Average market time to theoretically sell all for sale listings at Irvine is very fast at 1.2 months.

Because we are now in the prior to  Christmas and holiday season, don't expect this real estate market to have a huge increase in number of homes listed prior to December 25.    

We hope that Orange County property owners understand that the decline in active for sale listings favors them as sellers big time - and that now is the time to list and sell and possibly get the best possible price in years.  

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 Source of some information is ReportsOnHousing.com.    

 

Contact us here about listing and sale of your Irvine and Orange County CA homes and real estate.

Professional REALTOR® agent representation - 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

Great News for Home Sellers - Mortgage Rates Again at All-Time Lows

Mortgage rates again at an all-time low point has created fantastic opportunity for home and property sellers - to get their best possible price in years.

From Freddie Mac’s weekly survey (as of November 22, 2012), we see new all-time record lows on 30-year and 15-year fixed-rate home loans.

The average 30-year fixed rate dropped to 3.31 percent and 0.7 point from last week’s 3.34 percent and 0.7 point.

The 15-year fixed was down to 2.63 percent and 0.7 point, down from last week’s 2.65 percent.

The five-year ARM remained the same from last week at 2.74 percent and 0.6 point.

Assuming a well-qualified borrower received the average 30-year conforming fixed rate on $417,000, the savings would be $157 on his new monthly payment of $1,828 as compared with one year ago, when rates averaged 3.98 percent.

The 15-year mortgage monthly payment of $2,806 would be a savings of $134 per month as compared with last year’s rate of 3.0 percent.

Home and property sellers should understand positive news and that the current home selling market has lots of qualified buyers and mortgage rates at all-time lows.

Orange County CA home sellers now have their best price opportunity in years.

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Source of some information is OCRegister.com.

Contact us here about listing and sale of your Orange County CA homes and real estate.

Professional REALTOR® agent representation - 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

Supplemental Property Tax Bills After Property Buying in California

 

The first year of owning a home in California can be confusing because of county government cycles for assessing property values and sending out tax bills.  

The tax assessor's office sends out property tax bills every year in September, and those are based on the property's assessed value on January 1st of that year.  

A SUPPLEMENTAL PROPERTY TAX BILL at Orange County CA is sent out separately, covering the difference between the previous owner's property value and your purchase price.

The tax bill is based on the county fiscal year from July 1 to June 30.  Depending on when you bought your property, or completed your new construction on a new home, you may get one or two supplemental tax bills.  

First Example  

If you bought your house on August 31 of 2008 for $500,000 and the house previously was valued at $200,000.  The tax bill that the assessors office sent in September of 2008 was based on the previous owner's $200,000 value as of January 2008, and was for the fiscal year that ends June 30, 2009.  The seller should have paid part of that tax (from July 1 to Aug. 31 2008) when escrow closed.

A supplemental bill, usually sent three to six months after the purchase (depending on when the assessor's office forwards the necessary data), will cover the additional $300,000 in value for the current fiscal year.

Second example

If, however, you bought the house between Jan. 1 and May 31, 2008, your tax bill would straddle two fiscal years.  Hence, if you bought on March 31, 2008, then you would receive one supplemental tax bill for the difference in value for the April 1, to June 30, 2008, period.  You would also receive a second bill for July 1, 2008 to June 30, 2009.

Home buyers in California should contact their local county assessor and tax collector office for more information. 

 

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 Source of some information is Orange County CA Assessor and Orange County Tax Assessor. 

 

Contact us here about listing and sale of your Orange County CA homes and real estate.

 

Professional REALTOR® agent representation - 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

October Surprise - Orange County CA Buyers Crush the Market

 

3 out of 4 Orange County CA homes listed for sale went into escrow last month during October 2012 - and many more for sale listings are needed to meet growing buyer demand.

Buyers seeing value in moderated home prices and low interest rates have caused average market time for OC homes to be amazingly fast.

Orange County CA experienced in October the largest housing market rebound since 2006.  Home selling prices hit a four-year high - Median sold price reached $455,000, a 12.3 percent increase over October last year.

Home buyers completed 3,148 purchases during October 2012 - up 40.5 percent vs October of 2011 and the largest volume of October sales in seven years.

Low interest rates, pent-up buyer demand, and consumer perception that the market has stabilized all played a role in this booming market.  

Supply of homes for sale in Orange County CA has dropped 67 percent in the past 1½ years, falling last week to less than 4,000 listings.

Investor buyers picked up 22 percent of the Orange County transactions during October, while 30 percent of buyers paid all cash for properties.

Buyers continue to crush the Orange County CA real estate market.  

With home sale numbers escalating and number of listings inventory down to lowest point in the past eight years, we need more sellers for continued real estate market vigor.

  

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 Source of some information is OCRegister.com referencing DataQuick.com.

 

Contact us here about listing and sale of your Orange County CA homes and real estate.

 

Professional REALTOR® agent representation - 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

Irvine CA Real Estate on the Upswing with Buyer Demand

While Irvine CA real estate continues with hot buyer demand, needing more properties listed for sale, the selling rate and prices continue with positive upswing.

 

During the past 30 days 199 Irvine homes were sold - 25 percent more than sold during the same time last year.

 

The median sales price for an Irvine home during the past 30 days was $665,500.

 

For 22 business days ending October 18, 2012:

• Irvine 92620 - median sold at $625,500, which is 10.6 percent up from last year - 75 homes sold, which is up 150 percent from last year.
• Irvine 92602 - median sold price of $595,000, which is down 15 percent from last year - 21 homes sold, which is down 4 percent from last year.
• Irvine 92603 - median sold price was $780,000, which was 11 percent down from same time last year - 32 homes sold, which is 22 percent up from last year.
• Irvine 92604 - median sold price of $450,00 - which is 7.8 percent up from last year - 28 homes sold, which is same as last year.
• Irvine 92606 - median sold price of $595,000, which is 8.7 percent up from last year - 17 homes sold, which is 31 percent up from last year.
• Irvine 92612 - median sold price of $531,000, which is 26 percent up from last year - 35 homes sold, which is 9.4 percent up from last year.
• Irvine 92614 - median sold price at $480,000, which is 4 percent down from last year - 26 homes sold, which is 44 percent up from last year.
• Irvine 92618 - $672,000 - which is up 20 percent from last year - 51 homes sold, which is 54 percent more than last year.

Irvine CA real estate now has only 273 homes listed for sale - as of November 3, 2012 - and needs about 800 homes listed for a balanced market between buyers and sellers.

The Irvine market doesn't have enough homes for sale to keep up with huge buyer demand, and sellers are enjoying the advantage.

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Source of some information is CRMLS and OCRegister.com.

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

Professional REALTOR® agent representation - 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