Interest Rates Creeping Back Up; Highest in One Year

  • May 30th, 2013
  • devinlucas

Those record-low interest rates, which are partly driving the real estate recovery, especially in locations such as Newport Beach and Costa Mesa, may be heading for the rearview mirror as the economy “recovers” and rates are back on the incline. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.81 percent with an average 0.8 […]

California Legislature Proposes More Real Estate Transfer Taxes

  • May 29th, 2013
  • devinlucas

They’re at it again… the California State Legislature wants more of your money. This time, via a proposed additional $75.00 tax on any county real estate filing including refinancing, transferring into or out of a trust, liens, quit claim deeds, etc. It’s cleverly called “SB-391: California Homes and Jobs Act of 2013.” However, the same […]

Orange County Real Estate data is in for April: Sold prices up 27.4% from April 2012, the 14th consecutive month of year-over-year gains.

  • May 17th, 2013
  • devinlucas

Ugh, more mind-boggling figures from the number-crunchers at DataQuick. Orange County’s April home sales are up 27.4 percent from April 2012. Southern California’s average sales were up 23.4 percent from April 2012. And from just March 2013, the sales prices jumped 8 percent in Southern California. According to DataQuick, April was the 14th consecutive month […]

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 […]