Huge News for Orange County CA Homebuyers Mortgage Rates Stayed Down

Purchase money lending

Fantastic news for homebuyers is that home loan mortgage rates at Orange County CA went down big-time during 2014 and stayed down.

4.5% was the average rate on a 30-year fixed loan offered by lenders one year ago today –  see article from that time –Mortgage rate watch report for December 28, 2013.

Fantastic news for homebuyers

Average payment on a $417k conforming loan one year ago was $2,113 per month.

3.75% is the average rate offered by lenders on a 30-year fixed loan at Orange County today on December 29, 2014 (for those who qualify) –  see article –Mortgage rate watch report for December 28, 2014.

Average payment on that same $417k 30-year fixed rate loan is now $1,930 per month.

So a monthly payment on that $417k 30-year fixed rate loan now will save a homebuyer $183 per month on payment as compared with same time last year.

What this means is that now is the time for you as a homebuyer to get organized, qualified or pre-approved with a lender, and move forward to buy your dream home!

Coldwell Banker residential brokerage

 

 

By Harrison K. Long, Realtor, real estate broker, and professional real estate representative at Orange County CA.    

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.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

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Irvine Home Selling and Real Estate Market Update

Irvine Home Selling and Real Estate Market Update – November 22, 1014

Irvine CA homes and real estate market update

IMAG0187-c-Irvine CA is the economy driver at Orange County – has a population of about 230,000 people and is still growing.

Irvine homeowners and sellers have high expectations and confidence of the buyers.

530 Irvine homes are now listed for sale – with average list price of $1,131,333.

That’s a 9.2 percent drop in number of Irvine listings since November 1 (three weeks ago) when 584 Irvine homes were listed for sale.

It’s also a 28.3 percent drop in number of homes listed for sale since September 1 – when 740 Irvine homes were listed for sale.

121 Irvine sellers got buyers for homes under contract and went into escrow during the first 21 days of November – and average list price for those homes was $827,472.

The average list price of an Irvine home going into escrow is about 25 percent lower than average for sale listing price of all Irvine homes.

210 Irvine homes sold with closed deals during October 2014 – with average sold price at $902,560 – and average time on market for those homes was 72 days.

Irvine CA average home selling market time is now about 2.5 months – that time it would theoretically take to sell all homes on the market at current pace of sales.

Irvine home sellers who are serious are looking carefully at “fair market value” – the amount that other homes in the neighborhoods have actually sold for.

Irvine home selling markets are more balanced now as compared with last year November 2013 – with little or no advantage to either buyers or sellers. Buyers have improved negotiating power and choices.

More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.

People are especially attracted to Irvine, because of its positive economy and jobs, famous and award-winning schools, that it is one of the safest cities in America, and some of the best weather anywhere.

See Irvine CA homes now listed for sale – click here

See Irvine single level homes now listed for sale – click here

See Woodbridge Irvine homes now listed for sale – click here.

See Quail Hill Irvine homes now listed for sale – click here.

See Northwood Irvine homes now listed for sale – click here.

See Turtle Rock Irvine homes now listed for sale – click here.

See Turtle Ridge homes now listed for sale – click here.

Coldwell Banker residential brokerageby Harrison K. Long. Source of some information is CRMLS multiple listing service and is for homes listed and sold by all brokers and agents.

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.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas and about Irvine Home Selling and Real Estate market update.

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Top 6 Reasons to Buy a Home Now

Top 6 Reasons to Buy a Home Now

cheaper to buy than rent, truliaTo take advantage of near-record low mortgage interest rates and home prices undervalued by as much as three percent nationwide, now is a great time to buy a home.

There are still some great home buyer opportunities.

Why now is a best time for buyersThe economy is growing. From information gathered on or before August 22, 2014, the Federal Reserve’s “Beige Book” report found economic activity is up in all eight national districts, including consumer spending, freight loads for deliveries of goods, and more. But there are even better reasons to buy a home right now, and here are just a few:

More jobs are available

The Labor Department announced that the jobless rate is now below six percent. Consider how far the job market has come since January 2010 when unemployment was 9.7 percent.

Houses hedge against inflation

The Consumer Price for All Urban Consumers is up 1.7% from August 2013 to August 2014, excluding volatile food and gas prices. The food index has risen 2.7 percent over the span, while the energy index has increased 0.4 percent. This is the first month that the index hasn’t risen since 2010.

Why is that good for homeowners? Even in a tepid inflationary environment, when prices rise, a major asset such as a home, purchased at a fixed cost, becomes more valuable. Typically, in an inflationary environment, housing prices rise.

Housing price gains are slowing

The median existing-home price in August was $219,800, which is 4.8 percent higher than home prices in August 2013. This marks the 30th consecutive month of year-over-year price gains. In 2013, home prices rose in the double digits.

Mortgage interest rates are still low

According to Freddie Mac’s archives, the lowest that mortgage interest rates have been in modern history (since 1971) was in November and December 2012 at 3.35 percent with 0.7 points for a benchmark 30-year, fixed-rate loan, and that was back in 2012 before the housing recovery began in earnest. The most recent Freddie Mac survey found national averages at 4.16 percent with .05 percent points in September 2014.

Pent-up demand ready to release

Household formation has been muted since the Great Recession, preventing as many as 2.5 million people from forming households who otherwise would have. Economists with Harvard’s Center for Joint Housing Studies predict that annual U.S. housing starts should average 1.4 to 1.5 million over the coming decade. Considering that the largest generation ever –81 million Echo Boomers — are well into renting and homebuying age, the numbers should be closer to the 2.3% annual growth of the 1970’s, when 78 million Baby Boomers reached adulthood.

Buy VS rent ratios favor homeownership

Trulia, a real estate marketplace and research group announced that nationally, rents rose 6.5% year-over-year in September 2014. Apartment rents were up 6.9%, while single-family home rents gained 5.2%. At the same time, housing prices have leveled off.

The takeaway

A housing market never remains even. There are always surges and dips. Buyers could wait for better market conditions, but the present alignment of low mortgage interest rates, slowing home prices, rising rents and pent-up demand add up to great reasons to buy a home right now.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of information is Property ID.

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.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

Top 6 Reasons to Buy a Home Now

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Irvine CA Home Selling Market Recap for October 2014

Irvine CA homes and real estate market update

OLYMPUS DIGITAL CAMERA

Irvine CA is the economy engine driver at Orange County – has a population of about 230,000 people and is still growing.  Irvine homeowners have high expectations and confidence of the buyers.

People are especially attracted to Irvine, because of its positive economy and jobs, famous and award-winning schools, that it is one of the safest cities in America, and some of the best weather anywhere.

584 Irvine homes are now listed for sale – as of November 1 – with average list price of $1,131,851.

That’s a 21 percent drop in number of homes listed for sale since September 1, when 740 Irvine homes were listed for sale.

181 Irvine sellers got buyers for homes under contract and went into escrow during the past 30 days – Average list price for those homes was $839,645.  So the average list price of an Irvine home going into escrow is about 25 percent lower than average for sale listing price of all Irvine homes.

210 Irvine homes sold with closed deals during October 2014 – with average sold price at $902,560 – and average time on market for those homes was 72 days.

Irvine home sellers who are serious should look carefully at “fair market value” – the amount that other homes in the neighborhoods have actually sold for.

Irvine home selling markets are more balanced now – with little or no advantage to either buyers or sellers.

Buyers have more negotiating power and better choices now as compared with earlier this year and during 2013.

More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.

search Irvine CA homes – now listed for sale  

search Irvine single level homes – now listed for sale  

search Newport Beach homes – now listed for sale  

search East Costa Mesa homes – now listed for sale  

search Lake Forest CA homes – now listed for sale 

search Lake Forest single level homes – now listed for sale  

search Laguna Beach homes – now listed for sale

Coldwell Banker residential brokerage

By Harrison K. Long.  Source of some information is CRMLS multiple listing service and Reports On Housing and is for homes listed and sold by all brokers and agents.

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.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

Posted in Home selling strategy, Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate | Tagged , , , , , , , , , , , , , , , | Leave a comment

Irvine Best Values and Home Selling Market Update – September 9, 2014

Irvine Best Values have impact on the home selling market update.

Irvine CA is the economy engine driver at Orange County – has a population of about 230,000 people and still growing.

Irvine continues to enjoy high expectations and confidence of its home buyers.

People are especially attracted to Irvine, because of its positive local economy and jobs, famous and award-winning schools, that it is one of the safest cities in America, and some of the best weather anywhere.

More homes are sold and money spent to buy Irvine real estate as compared with any other city in the OC.

740 Irvine homes are now listed for sale – as of September 9, 2014 – according to CRMLS multiple listing service.

Average price at Irvine for a home now for sale is more than $1.1 million.

172 Irvine sellers got buyers for homes under contract and went into escrow during the past 30 days – and average list price for those homes was $880,156.

So the average list price of an Irvine home going into escrow ($880,156) is almost twenty percent lower than average for sale listing price of all Irvine homes ($1.1 million).

What this shows is that some Irvine home owners who listed their homes were unrealistic about price and need to look more carefully at fair market value – what other homes in the neighborhoods have actually sold for.

208 Irvine homes sold with closed deals during the past 30 days. Average sold price for those sold homes was $805,980 – and average time on market was 62 days.

Average time it would theoretically take to sell all homes now listed for sale (740) at current pace of home selling (172 per month) is more than 4 months.

This average time to sell Irvine homes has increased this year and especially during the past 90 days.

Irvine home selling market still favors sellers. However, this is trending toward balance recently with increased number of listings and sales moderating.

Buyers have more negotiating power and better choices now as compared with earlier this year and during 2013.

We here to help you evaluate the market in your area and price your home to sell.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information is CRMLS multiple listing service and Reports On Housing and is for homes listed and sold by all brokers and agents.

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.

Contact us at 949-854-7747 with your questions about home prices and values at Irvine and other Orange County CA cities and areas.

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate, Listing and selling homes, Live at Irvine | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Turtle Rock Irvine CA Homes Show Improved Buying Opportunities

Turtle Rock Irvine remains one of the most sought-after areas for homes, residential living and investment at Orange County CA. Turtle Rock village was planned and developed by The Irvine Company with about 3,300 homes built between 1970 to 1986.

Turtle Rock homeowners and residents treasure their safe and quiet neighborhoods that are so nearby to some of the best and top award-winning schools at Orange County – including Bonita Canyon Elementary and Turtle Rock Elementary and University High School. Turtle Rock homes are located in the hills area to the east of the University of California Irvine campus.

Turtle Rock selling prices have moderated slightly downward this past 60 days.

  • 12 Turtle Rock area homes sold during the past 30 days from July 24 to August 25, 2014 – with average sold price of $1,166,333 – and 60 days average time on market for those sold homes.
  • During 30 days from May 25 to June 25 this year – 9 Turtle Rock homes sold – with average sold price of $1,394,867.


40 Turtle Rock homes are now listed for sale – with average listed price of $1,240,298 – and average time on market of 72 days.

Home buyers have improved opportunity this year at Turtle Rock Irvine. Number and pace of selling transactions has moderated during the past 3 months – and average time from list to selling is up from last year.

Turtle Rock Irvine home selling pace has slowed, and homes are staying on the market longer. Sellers who are serious should price their homes close to fair market value and get best results.

Home buyers should find new and improved opportunities at Turtle Rock Irvine and be able to negotiate purchase terms easier this year as compared with 2013 and the first part of 2014.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information CRMLS and is for homes listed and sold by all brokers and agents.

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.

Contact us at 949-854-7747 with your questions about home prices and values at Turtle Rock Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas

Posted in Home buying strategy, Irvine Best Values, Irvine home values, Irvine homes, Irvine listings, Irvine market update | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Price Reduction presents opportunity for buyers at 3163 Watermarke Place, Irvine CA real estate

Price Reduction presents opportunity for buyers at 3163 Watermarke Place, Irvine CA real estate.

Lovely GardenMediation gardens near patio at 3163 Watermarke Place

 

 

 

 

-

Best executive style residential living with security, privacy and amenities, at Irvine CA

 

 

 

 

07 copy_10569370523_l

Beautiful, upgraded Watermarke home with premium lot location on the peaceful Meditation Garden!

 

 

 

11 copy_10569086235_lWell designed floor plan with open-concept kitchen, dining and living area.

 

 

 

 

17 copy_10569344113_lNatural light, volume ceilings and wood floors throughout.

 

 

 

 

Featuring convenience and privacy

22 copy_10569326303_lIdeal first evel location makes coming and going easy, with no steps to very close private parking space in gated garage.

 

 

 

15 copy_10569146834_lGorgeous kitchen with granite counters, white cabinets to ceiling, stainless steel appliances including 5-burner gas range, and built-in desk & cabinets.

 

 

 

18 copy_10569066995_lSpacious master bedroom has views of tranquil garden, trees & fountain, plus walk-in closet, ceiling fan and new carpet.

 

 

 

19 copy_10569135284_lAdjacent bathroom with granite counters. Inside laundry. Private patio next to Garden. Owners loved and cared for this home.

 

 

 

-Experience the Watermarke resort-style life with amenities including Clubhouse, Concierge service …

 

 

 

 

watermarke homes, 2013-Q-… sparkling pools and spas, fitness center, tennis and basketball courts …

 

 

 

watermarke homes, 2013-W-… movie theater, game room, and business center.

 

 

 

 

3163 Watermarke Place, 7-10-2014

watermarke homes, 2013-I-Watermarke is centrally located near the Irvine business center, Irvine Spectrum, Newport Beach, Orange County airport, UC Irvine, San Joaquin Wildlife Sanctuary walking/running trails, South Coast Plaza & easy freeway access.

 

3163 Watermarke Place – Now offered at $378,500 – MLS no. OC14118459

Presented by Harrison and Christi Long, Realtors and professional real estate representatives, Coldwell Banker Residential Brokerage, Irvine and Orange County CA – CAL BRE 01410855 – 949-701-2515 (cell).

Posted in Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate, Watermarke Irvine | Tagged , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Open house on Saturday, July 12, 2014 – at 3163 Watermarke Place, Irvine CA

Open house on Saturday afternoon, July 12, 2014 – at 3163 Watermarke Place, Irvine CA

07 copy_10569370523_l

Beautiful, upgraded Watermarke home with premium lot location on the peaceful Meditation Garden!

 

 

open house welcome

20 copy_10569060515_l

Best location and view Carlton Arms model on the market.

 

 

 

 

 

 

11 copy_10569086235_lWell designed floor plan with open-concept kitchen, dining and living area.

 

 

 

 

17 copy_10569344113_lNatural light, volume ceilings and wood floors throughout.

 

 

 

 

Featuring convenience and privacy

22 copy_10569326303_lIdeal first evel location makes coming and going easy, with no steps to very close private parking space in gated garage.

 

 

 

15 copy_10569146834_lGorgeous kitchen with granite counters, white cabinets to ceiling, stainless steel appliances including 5-burner gas range, and built-in desk & cabinets.

 

 

 

18 copy_10569066995_lSpacious master bedroom has views of tranquil garden, trees & fountain, plus walk-in closet, ceiling fan and new carpet.

 

 

 

19 copy_10569135284_lAdjacent bathroom with granite counters. Inside laundry. Private patio next to Garden. Owners loved and cared for this home.

 

 

 

-Experience the Watermarke resort-style life with amenities including Clubhouse, Concierge service …

 

 

 

 

watermarke homes, 2013-Q-… sparkling pools and spas, fitness center, tennis and basketball courts …

 

 

 

watermarke homes, 2013-W-… movie theater, game room, and business center.

 

 

 

 

3163 Watermarke Place, 7-10-2014

watermarke homes, 2013-I-Watermarke is centrally located near the Irvine business center, Irvine Spectrum, Newport Beach, Orange County airport, UC Irvine, San Joaquin Wildlife Sanctuary walking/running trails, South Coast Plaza & easy freeway access.

 

3163 Watermarke Place – Offered at $384,000 – MLS no. OC14118459

Presented by Harrison and Christi Long, Realtors and professional real estate representatives, Coldwell Banker Residential Brokerage, Irvine and Orange County CA – CAL BRE 01410855 – 949-701-2515 (cell).

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Watermarke Irvine | Tagged , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Turtle Rock Irvine CA Homeowners Confident About Safe Neighborhoods and Selling Prices

Turtle Rock Irvine remains one of the most sought-after areas for homes, residential living and investment at Orange County CA.

Turtle Rock village was planned and developed by The Irvine Company with about 3,300 homes built between 1970 to 1986.

People at Turtle Rock treasure their safe and quiet neighborhoods that are near some of the best and award-winning schools at Orange County.

Turtle Rock home sellers are happy with the recent prices paid by buyers.

10 Turtle Rock area homes sold during June 2014 this year – with average sold price of $1,370,380 – and 64 days average time on market.

Last year same time, 14 Turtle Rock homes sold during June 2013 – with average sold price of $1,015,000 – and average time on market at 54 days.

Selling prices are up significantly this year as compared to last year – while number of homes sold is down.

49 Turtle Rock homes have sold during first half of this year from January 1 to June 30, 2014 – with average sold price of 1,290,522.

Number of Turtle Rock homes listed for sale is way up now as compared with last year, which is good for buyers and presents them with better choices.

41 Turtle Rock homes are now listed for sale – with average list price of $1,327,000.

Buyers have more opportunity this year at Turtle Rock and Irvine – and sellers need to price their homes close to reality and use fair market value in order to get best results.

Coldwell Banker residential brokerage

Coldwell Banker previews

By Harrison K. Long. Source of information is CRMLS multiple listing service. Professional REALTOR® and real estate broker 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. Contact us with your questions about home prices and values at Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Turtle Rock Irvine | Tagged , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Happy 4th of July – from 3163 Watermarke Place, Irvine, CA

Happy 4th of July!

happy 4th of July-d-Happy 4th of July – your U.S. Independence day celebrations 2014 …

 

 

 

watermarke homes, 2013-K-… from 3163 Watermarke Place, Irvine, CA.

 

 

 

07 copy_10569370523_l

Beautiful, upgraded Watermarke home with premium lot location on the peaceful Meditation Garden!

 

 

 

20 copy_10569060515_l

Best location and view Carlton Arms model on the market.

 

 

 

 

 

 

11 copy_10569086235_lWell designed floor plan with open-concept kitchen, dining and living area.

 

 

 

 

17 copy_10569344113_lNatural light, volume ceilings and wood floors throughout.

 

 

 

 

22 copy_10569326303_lIdeal first evel location makes coming and going easy, with no steps to very close private parking space in gated garage.

 

 

 

15 copy_10569146834_lGorgeous kitchen with granite counters, white cabinets to ceiling, stainless steel appliances including 5-burner gas range, and built-in desk & cabinets.

 

 

 

18 copy_10569066995_lSpacious master bedroom has views of tranquil garden, trees & fountain, plus walk-in closet, ceiling fan and new carpet.

 

 

 

19 copy_10569135284_lAdjacent bathroom with granite counters. Inside laundry. Private patio next to Garden. Owners loved and cared for this home.

 

 

 

-Experience the Watermarke resort-style life with amenities including Clubhouse, Concierge service …

 

 

 

 

watermarke homes, 2013-Q-… sparkling pools and spas, fitness center, tennis and basketball courts …

 

 

 

watermarke homes, 2013-W-… movie theater, game room, and business center.

 

 

 

 

watermarke homes, 2013-I-Watermarke is centrally located near the Irvine business center, Irvine Spectrum, Newport Beach, Orange County airport, UC Irvine, San Joaquin Wildlife Sanctuary walking/running trails, South Coast Plaza & easy freeway access.

 

3163 Watermarke Place – Offered at $384,000 – MLS no. OC14118459

Presented by Harrison and Christi Long, Realtors and professional real estate representatives, Coldwell Banker Residential Brokerage, Irvine and Orange County CA – CAL BRE 01410855 – 949-701-2515 (cell).

happy 4th of July-f-

Posted in Irvine Best Values, Irvine home selling, Irvine home values, Irvine homes, Irvine listings, Irvine market update, Irvine real estate | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment