Trickle Up for OC Neighborhoods
In the latest Zippy's Report, Orange County Register's Jonathon Lansner's ranking of Orange County zip codes for housing performance, showed that the hardest hit zip codes for the 3rd quarter were some of Orange County's most affluent zip codes. Included in the worst performing areas were Newport Coast, Dana Point, Coto de Caza (part of the 92679 zip), and San Clement. Some of the biggest improvements were areas that have recently had some of the worst performing zip codes including, Missio…
Read more...It’s a Buyer’s Market – Or Is It?
I did some research for a client tonight and the findings are important to share with readers here. If you are a serious buyer or seller, this information is telling. Please stick with the tedium of the stats because the story it tells is meaningful. This particular buyer is looking in Mission Viejo between $450,000 and $550,000. He wants a single family residence. With that criteria, I hit the MLS looking for a picture of where we really are. As many of you know, I'm the last pe…
Read more...To My Realtor Colleagues – Gimme A Break!
Last weekend, I went into an Open House with one of my buyers that is really struggling with the 'Rent versus Buy' decision. The listing agent handed us an article by Orange County Register's Jonathon Lanser that shared the good news that home sales was up nearly 60% from a year ago. In the words of the listing agent, 'things are turning around'. As I've said before on OC Voice, I'm not convinced that this is necessarily the turnaround I'm looking for. Most of this increase in sales i…
Read more...Time to Talk Absorbtion Rates
Every now and then you see a headline touting the increase in sales in Orange County. Less than a week ago, Orange County Register's Jon Lanser posted '1-in-3 O.C. ZIPs See Homebuying Doubling or Better'. I love good news but it's important to drill deep into what these statistics are telling …
Read more...“Real Estate is Back!”
Maybe. I remember in the early stages of the boom, there were whispers of a 'bubble'. By 2005, it had turned into a dull roar. In 2006, economists were shouting at us while many of us were turning a deaf ear, convinced that this market was an exception. I know - not you - just the rest of us.…
Read more...NAR Reports National Median Home Prices
The National Association or Realtors (NAR) recently posted this excellent map. Zoom into a metro area for the most recent quarterly median home price for the market you're interested in, and its percentage change from the previous quarter. NAR has also published the 2nd quarter numbers for median home price nationwide and broken down by single family residences and condos in PDF and Excel files. View Larger Map Thanks to Jay Thompson at Phoenix Real Estate Guy for the tip.…
Read more...Further Evidence of the Short Sale Debacle
I had this conversation on Twitter today and had to share it as further evidence of the common problems we see in the marketplace when it comes to the handling of Short Sales. In case you are not familiar with Twitter, it's a social media and micro-blogging platform. The banks aren't improving th…
Read more...The Good News and The Bad
It's always best to get the bad news out of the way first, don't you think? In September, I posted 'Why Orange County's Median Price May Fall Under $400,000'. At that time, all of the exciting appreciation we'd seen in our housing boom had slipped away to January '04 levels. Mere days later…
Read more...
Linsey Planeta
Recent Comments