Home Buyers – Hands Off Your Credit While Your Home Search or Loan Is Pending!

  • July 16th, 2013
  • devinlucas

Costa Mesa, Newport Beach and Orange County home buyers – in today’s tough lending and underwriting climate, it’s routine for lenders to check, double check, then check again your credit, employment and income.  In other words, the “pre approval” is hardly the final check.  Your lender is likely (in fact, required, if through Fannie Mae […]

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 […]

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 […]

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 […]

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 […]

Southern California Home Prices Hit Three-Year High; Orange County Sales Volume up 41 Percent from Last Year

  • December 3rd, 2012
  • devinlucas

More Buyers, fewer Sellers, record-low interest rates and increase in rental values made Southern California home sales jump over 25 percent this past October, compared to October 2011, a three-year high, according to real estate research firm DataQuick. Not surprisingly, coastal markets saw the biggest increase in sales, especially such prime locations as Newport Beach […]