Some Financial Perks of Homeownership

  • May 6th, 2013
  • devinlucas

Here’s a neat graphic illustrating some of the financial perks of homeownership. Newport Beach and Costa Mesa real estate certainly bring even more perks to the table!  Sources include the California Association of REALTORS®, the National Association of REALTORS®, the Federal Reserve and Energy Star. … -Devin Lucas Author Devin R. Lucas is a Real […]

California Home Prices: Highest Since 2008; Up 13.7% in a Month; Up 28.2% From Last Year

  • April 19th, 2013
  • devinlucas

California’s median home price for March hit its highest level since May 2008, according to the California Association of REALTORS® (C.A.R.), based on information collected from more than 90 local REALTOR® associations and MLSs statewide.   The statewide median price of an existing, single-family detached home climbed 13.7 percent from February’s $333,380 median price to $378,960 […]

Loan Terms – 15 v. 20 v. 30-year – Savings Add Up, But Payments Increase

  • March 25th, 2013
  • devinlucas

As you might imagine, a shorter term loan can translate into thousands of dollars saved on interest payments throughout the term.  Lower rates and shorter terms save money for those able to manage the slightly higher monthly payment.  Here’s a graphic showing a $250,000.00 loan; use any loan calculator or consult with your lender to […]

Orange County Housing: Prices Up 25.1% From Last Year

  • March 20th, 2013
  • devinlucas

As reported by the California Association of REALTORS® in the below article, as is no surprise to many home shoppers, especially in such great locations as Newport Beach and Costa Mesa, prices are up, up, up.  A full 25.1 percent February 2013 v.  2012 and a full 7.2 percent just from the previous month, according to the California […]

Home Improvement: Best Bang For Your Buck

  • March 12th, 2013
  • devinlucas

Thinking of a home remodel?   There are many great ways to improve your home.  Whether for your own enjoyment, or to increase value to your property to sell or rent, some remodels will really spruce up a property (not to mention the ‘wow’ factor and, in many cases, energy savings).  Here, from the National Association of […]

Low Inventory

  • March 8th, 2013
  • devinlucas

Most people now know there is a severe lack of supply of housing, a “low inventory,” especially of desirable homes, in desirable areas, in those under $1 million gem neighborhoods such as East Side Costa Mesa and more expensive dream homes in areas such as Newport Beach.  Supply-and-demand economics kick in, and Voilà, you have multiple offers on prime properties […]

Beware of List Price: Foot Traffic and Competitive Bidding Flock Back into Housing

  • January 16th, 2013
  • devinlucas

Newport Beach, Costa Mesa and Orange County Buyers Beware – As many prospective home buyers today are keenly aware, lack of inventory, all cash buyers and record low interest rates have created a competitive marketplace.  A “seller’s market” of the past has returned to many above-water homeowners wanting to sell, especially in such great locations as Newport […]

Mortgage Forgiveness Debt Relief Act Extended – Good For Home Supply; Mixed Messages For Economy

  • January 2nd, 2013
  • devinlucas

As part of the so-called “fiscal cliff” negotiations, Congresses’ late night settlement included a one-year extension of the Mortgage Forgiveness Debt Relief Act. Essentially, this allows underwater borrowers (those who owe more on their mortgage than their home is currently worth) to “discharge” any tax liability for loss incurred from a short sale, foreclosure or […]

Congress: Don’t Mess With the Mortgage Interest Deduction; Housing is Too Important

  • December 12th, 2012
  • devinlucas

In California, losing the mortgage interest deduction – an active discussion in Washington – would cost the average California taxpayer over $3,900.00 a year, according to the California Association of REALTORS®. That’s MORE, almost DOUBLE, the average “2k” nation-wide taxpayers may lose if the so-called “fiscal cliff” is not soon averted. 89 percent of those […]

Homebuyers – Be Prepared to Compete As Competition Heats Up; The New Supply-and-Demand Driven Market

  • December 11th, 2012
  • devinlucas

House hunters in Newport Beach, Costa Mesa, Orange County and elsewhere are encountering formidable old foes… ample competition, multiple offers and all cash buyers. Well-priced homes in desirable areas are rare – and thus a precious commodity.   Some homes in sought-after neighborhoods are selling like hotcakes, above list price, with multiple offers submitted within […]