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 … Continue Reading
California Legislature Proposes More Real Estate Transfer Taxes
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 … Continue Reading
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.
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 … Continue Reading
Some Financial Perks of Homeownership
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 … Continue Reading
California Home Prices: Highest Since 2008; Up 13.7% in a Month; Up 28.2% From Last Year
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 … Continue Reading
Loan Terms – 15 v. 20 v. 30-year – Savings Add Up, But Payments Increase
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 … Continue Reading
Orange County Housing: Prices Up 25.1% From Last Year
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 … Continue Reading
Home Improvement: Best Bang For Your Buck
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 … Continue Reading
Low Inventory
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 … Continue Reading
Beware of List Price: Foot Traffic and Competitive Bidding Flock Back into Housing
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 … Continue Reading
