Interest Rates Creeping Back Up; Highest in One Year

  • May 30, 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 … Continue Reading

Some Financial Perks of Homeownership

  • May 6, 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 … Continue Reading

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

  • April 19, 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 … Continue Reading

Orange County Housing: Prices Up 25.1% From Last Year

  • March 20, 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 … Continue Reading

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

  • January 16, 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 … Continue Reading

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

  • December 11, 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 … Continue Reading