How Real Estate Has Changed

New-Homes-in-1950s

Buying real estate the same way our parents did will never be the same. Our parents say that things were less complicated back in the old days. Here’s proof that it was. Looking to buy a new home in Los Angeles? It costs as much as internet service now.

A Fun Reminder Of San Fernando And San Gabriel Valley Home Prices 60 Years Ago

Changing Times in Real Estate Sales

Emerging Trends in Real Estate

Emerging Trends In Real Estate: ULI Report Offers Outlook

(Source Urban Land Institute)

The Urban Land Institute has released its annual report on the key emerging trends that will shape the real estate market in 2015. Commenting on the report, Mitch Roschelle, a U.S. real estate advisory practice leader with PwC, stated, “Unlike previous reports and previous cycles, we are seeing sustained growth. In the past several years, we reported that real estate market participants’ main fears revolved around the uncertainty with the economy. Now, the trepidation in their eyes has more to do with the ability of the growing real estate markets to adapt to a series of mega trends impacting society and the global economy.”

Making sense of the story

– The report states that housing is well on the way to recovery, according to survey respondents, and they rank urban/infill as the top opportunity for 2015. Yet, the after-effect of the housing bubble has not fully dissipated, and this will partially shape demand for the next several years.

– While the tendency of millennials to postpone homeownership and rent longer will affect the apartment sector over the next several years, many survey interviewees noted that investors should consider how the housing preferences of millennials could change in the 2020s.

– The report anticipates further industry changes resulting from the emergence of the smaller “Generation Z.” Planning for a nation with fewer household formation, fewer new consumers, and a meager number of workforce entrants is the challenge ahead for a real estate industry with its eye on the 2020s.

– Downtown transformations have combined the key ingredients of housing, retail, dining, and walk-to-work offices to generate urban cores, spurring investment and development and raising the quality of life for a roster of cities. Buyers have more markets to consider now that the 18-hour centers are putting the elements in place to attract investment.

– The trend in residential real estate, according to interviewees, looks to be returning to the classic principles of supply and demand. As this major segment of the economy returns to textbook fundamentals, confidence in the residential sector should continue to rise.

– In most cycles, overbuilding and excess leverage would likely have already started building momentum by now. To the degree that hasn’t happened, the industry looks like it has learned some lessons in self-regulation and self-correction.

– Key markets to watch for real estate, according to the report, are Houston, Austin, San Francisco, Denver, and Dallas/Fort Worth because they present opportunistic-style investments in major markets.

Orange County Homes Keep Struttin

Real-Estate-Market Report

Home Living Report – Orange County Real Estate News by Diego Loya

The Real Estate market continues in the same stride from 2014. Home values continue to rise as inventory of homes for sale stay low and the demand from buyers stays strong. That being said buyers are no longer jumping at an open opportunity of a new home for sale. Today’s buyer will consider the home’s sales price as well as any deferred maintenance they will assume. A home priced right that is in great condition will sell quickly while one that is slightly overpriced and/or needs some work will sit longer and may need price adjustments.

It’s already evident that 2015 will be marked by talk of changing mortgage rates and regulations. Rates should stay low, but consumers and finance experts alike believe that we’re at or near rate bottoms. Early indications point to more sales, more listings, more new construction and more excitement. It’s not expected to be the overblown land grab of the early 2000s, but it should feel like
a healthy market, which, in and of itself, may feel like an odd sensation to real estate practitioners accustomed to the boom and bust of the 21st century.

 

Orange County real Estate Stats

  • New Listings were down 3.8 percent for single family homes and down 3.8 percent for condos and townhome properties.
  • Pending Sales increased 20.6 percent for single family homes and up 11.4 percent for townhouse-condo properties.
  • The Median Sales Price was up 5.2 percent to $549,000 for single family homes and up 4.5 percent to $350,000 for condos and townhome properties.
  • Months Supply of  Inventory was down, 14.3 percent for single-family homes and down 17.9 percent townhouse-condo units.

The 3 percent down payment programs from Fannie Mae and Freddie Mac should help potential new homeowners, but in a recent member survey by the Independent Community Bankers of America, three-fourths of respondents stated that regulatory burdens are hurting their ability to loan money. The wider economy shows slight wage increases and gas prices near five-year lows but
rising along with extended daylight and buyer demand. These various economic pushes and pulls can turn stagnant markets into exciting ones. It’s all in how you look at it.

*Data from PWR and includes Orange County and surrounding areas.

Have Questions About Possibly Selling or Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com . 

 

2015 Real Estate Continues Slow and Steady

Real-Estate-Market Report

Home Living Report – Fullerton, CA Real Estate News by Diego Loya

The Fullerton Real Estate market continues in the same stride from 2014. Home values continue to rise as inventory of homes for sale stay low and the demand from buyers stays strong. That being said buyers are no longer jumping at an open opportunity of a new home for sale. Today’s buyer will consider the home’s sales price as well as any deferred maintenance they will assume. A home priced right that is in great condition will sell quickly while one that is slightly overpriced and/or needs some work will sit longer and may need price adjustments.

It’s already evident that 2015 will be marked by talk of changing mortgage rates and regulations. Rates should stay low, but consumers and finance experts alike believe that we’re at or near rate bottoms. Early indications point to more sales, more listings, more new construction and more excitement. It’s not expected to be the overblown land grab of the early 2000s, but it should feel like
a healthy market, which, in and of itself, may feel like an odd sensation to real estate practitioners accustomed to the boom and bust of the 21st century.

Fullerton Real Estate Market February  2015

 

  • New Listings were up 17 percent for single family homes and up 17.1 percent for condos and townhome properties.
  • Pending Sales increased 37.5 percent for single family homes but down 33.3 percent for townhouse-condo properties.
  • The Median Sales Price was up 4.4 percent to $640,250 for single family homes and down 24.3 percent to $280,000 for condos and townhome properties.
  • Months Supply of  Inventory was down, 2.4 percent for single-family homes and down 2.3 percent townhouse-condo units.

The 3 percent down payment programs from Fannie Mae and Freddie Mac should help potential new homeowners, but in a recent member survey by the Independent Community Bankers of America, three-fourths of respondents stated that regulatory burdens are hurting their ability to loan money. The wider economy shows slight wage increases and gas prices near five-year lows but
rising along with extended daylight and buyer demand. These various economic pushes and pulls can turn stagnant markets into exciting ones. It’s all in how you look at it.

*Data from PWR and includes Fullerton.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com . 

 

Current Fullerton Homes For Sale

(Contact us a specific type of property you are looking for) Homes are listed by newest to come on the market.

[idx-listings city=”Fullerton” maxprice=”7000000″ minbeds=”3″ maxbeds=”8″ statuses=”1″ orderby=”DateAdded” orderdir=”DESC” count=”12″ showlargerphotos=”true”]

A Normal Fullerton Real Estate Market 2014

Home Living Report – Fullerton, CA Real Estate News by Diego Loya

The Fullerton Real Estate market in 2013 had some big gains. Homes increased to it’s highest levels since 2007. The same trend will continue into 2014. As long as the hunger from buyers to buy up homes stays strong, home sellers will reap the benefits of a strong market and growing real estate prices.

The same factors that catalyzed widespread market recovery in 2012 and 2013 are likely to continue in 2014, though perhaps at a more moderate pace. That’s not a bad thing, since the market is returning to a stable, healthy state. Potential trends to watch for in 2014 include increased seller activity, more new construction and fewer foreclosures on the market. Inventory is another metric to watch this year.

  • New Listings were down 7.4 percent for single family homes and up a huge 94.4 percent for condos and townhome properties.
  • Pending Sales decreased 33.7 percent for single family homes but up a big 105.9 percent for townhouse-condo properties.
  • The Median Sales Price was up 13.5 percent to $612,990 for single family homes and 33.9 percent to $370,000 for condos and townhome properties.
  • Months Supply of  Inventory was flat, 0.0 percent for single-family homes and townhouse-condo units.

Given how far the market has come, it’s a good time for folks to reassess their situation. Many who were hesitant to sell in recent years may find themselves in a completely different position. Getting a fresh competitive market analysis might be a good idea. Interest rates remain attractive and should remain below their long-term average, but they are expected to creep higher in 2014. Politicians are gearing up for midterm elections, so pay close attention to campaign messaging as relates to real estate or mortgage financing. Job growth is still fundamental and is likely to dominate this election cycle.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com . 

*Data from PWR and includes Orange County and some surrounding areas.

Current Fullerton Homes For Sale

(Contact us a specific type of property you are looking for)

 

Where is Orange County Housing Headed

Home Living Report – Orange County, CA Real Estate News by Diego Loya

Orange_CountyThe Fullerton Real Estate market in 2013 had some big gains. Homes increased to it’s highest levels since 2007. The same trend will continue into 2014. As long as the hunger from buyers to buy up homes stays strong, home sellers will reap the benefits of a strong market and growing real estate prices. It’s tempting to confuse market normalization with a possible slowdown. But those equipped with high-quality MLS data know better. As mortgage delinquencies fade, banks are listing bargain-priced product less often. That means investor activity – which accounts for a substantial market share – is moderating. That’s not to say that rates and prices aren’t still attractive to owner occupant buyers. They most certainly are. Some short-term volatility is expected as part of a normal market readjustment.

  • New Listings were down 0.9 percent for single family homes and up 7.3 percent for condos and townhome properties.
  • Pending Sales increased 1.1 percent for single family homes 4.3 percent for townhouse-condo properties.
  • The Median Sales Price was up 22.5 percent to $539,000 for single family homes and 22.1 percent to $348,000 for condos and townhome properties.
  • Months Supply of  Inventory was flat for single-family homes and up 22.2 percent for townhouse-condo units.

The economy has more or less shuffled along, despite some climate-induced surprises to job growth and new construction. There is no denying the fact that we’ve now seen 47 straight months of private job growth, creating 8.5 million new payrolls. There’s still work to be done. Thankfully, with such low inventory levels, many builders are bullish on new construction. The spring market is budding, and it should be an interesting one.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com .  [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”] *Data from PWR and includes Orange County and some surrounding areas.

Current Orange County Homes For Sale

(Contact us a specific type of property you are looking for) [idx-listings county=”Orange” minprice=”400000″ maxprice=”600000″ minbeds=”3″ maxbeds=”6″ statuses=”1″ propertytypes=”516″ orderby=”Price” orderdir=”ASC” count=”12″ showlargerphotos=”true”]

A Normal Orange County Real Estate Market 2014

Orange County Real Estate Report February 2014 by Diego Loya

Home Living Report – Orange County, CA Real Estate News by Diego Loya

The Fullerton Real Estate market in 2013 had some big gains. Homes increased to it’s highest levels since 2007. The same trend will continue into 2014. As long as the hunger from buyers to buy up homes stays strong, home sellers will reap the benefits of a strong market and growing real estate prices.

The same factors that catalyzed widespread market recovery in 2012 and 2013 are likely to continue in 2014, though perhaps at a more moderate pace. That’s not a bad thing, since the market is returning to a stable, healthy state. Potential trends to watch for in 2014 include increased seller activity, more new construction and fewer foreclosures on the market. Inventory is another metric to watch this year.

  • New Listings were up 0.3 percent for single family homes and up 8.2 percent for condos and townhome properties.
  • Pending Sales decreased 10.4 percent for single family homes 2.2 percent for townhouse-condo properties.
  • The Median Sales Price was up 21.5 percent to $522,000 for single family homes and 24.1 percent to $335,000 for condos and townhome properties.
  • Months Supply of  Inventory decreased 9.1 percent for single-family homes and up 16.7 percent for townhouse-condo units.

Given how far the market has come, it’s a good time for folks to reassess their situation. Many who were hesitant to sell in recent years may find themselves in a completely different position. Getting a fresh competitive market analysis might be a good idea. Interest rates remain attractive and should remain below their long-term average, but they are expected to creep higher in 2014. Politicians are gearing up for midterm elections, so pay close attention to campaign messaging as relates to real estate or mortgage financing. Job growth is still fundamental and is likely to dominate this election cycle.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com .  [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”]

*Data from PWR and includes Orange County and some surrounding areas.

Current Orange County Homes For Sale

(Contact us a specific type of property you are looking for)

[idx-listings county=”Orange” minprice=”275000″ maxprice=”3000000″ minbeds=”3″ maxbeds=”15″ statuses=”1″ propertytypes=”516″ orderby=”DateAdded” orderdir=”DESC” count=”12″ showlargerphotos=”true”]

Fullerton Real Estate Keeps Steady into 2014

Diego Loya Home Living Fullerton Real Estate Report 1-2014

Home Living Report – Fullerton, CA Real Estate News by Diego Loya

The Fullerton Real Estate market in 2013 had some big gains. Homes increased to it’s highest levels since 2007. The same trend will continue into 2014. As long as the hunger from buyers to buy up homes stays strong, home sellers will reap the benefits of a strong market and growing real estate prices.

In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year.

  • New Listings were down 36.6 percent for single family homes and up 68.8 percent for condos and townhome properties.
  • Pending Sales decreased 27.5 percent for single family homes but up a big 82.4 percent for townhouse-condo properties.
  • The Median Sales Price was up 15.8 percent to $599,990 for single family homes and 19.5 percent to $299,900 for condos and townhome properties.
  • Months Supply of  Inventory decreased 28 percent for single-family homes and up 25 percent for townhouse-condo units.

Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve’s long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It’s no wonder that buyers were active in 2013. Here’s to more of the same in 2014.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com .  [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”]

*Data from PWR and includes Orange County and some surrounding areas.

Current Fullerton Homes For Sale

(Contact us a specific type of property you are looking for)

[idx-listings city=”Fullerton” maxprice=”25000000″ minbeds=”3″ maxbeds=”15″ minimpsqft=”1400″ maximpsqft=”20000″ statuses=”1″ propertytypes=”516″ orderby=”DateAdded” orderdir=”DESC” count=”15″ showlargerphotos=”true”]

Home Prices Steady Climb in 2014

Diego Loya Home Living Orange County Real Estate Report 1-2014

Home Living Report – Orange County Real Estate News by Diego Loya

The Orange County Real Estate market in 2013 has some big gains. Homes increased to it’s highest levels since 2007. A more stable and normalized market will continue in 2014 where home prices will stay strong and the buying market will stay fierce. Although there will be more homes for sale, the buyer’s appetite will be greater.

In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year.

  • New Listings were down 17.1 percent for single family homes and 1.9 percent for condos and townhome properties.
  • Pending Sales decreased 9.0 percent for single family homes and 0.3  percent for townhouse-condo properties.
  • The Median Sales Price was up 23 percent to $530,000 for single family homes and 28.8 percent to $335,000 for condos and townhome properties.
  • Months Supply of  Inventory decreased 21.7 percent for single-family homes and flat for townhouse-condo units.

Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve’s long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It’s no wonder that buyers were active in 2013. Here’s to more of the same in 2014.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com .  [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”] *Data from PWR and includes Orange County and some surrounding areas.

[idx-listings county=”Orange” maxprice=”120000000″ minbeds=”3″ maxbeds=”15″ statuses=”1″ propertytypes=”516″ orderby=”LastUpdated” orderdir=”DESC” count=”15″ showlargerphotos=”true”]

Orange County Home Prices Start to Level Off

Home Living Report – Orange County Real Estate News by Diego Loya

Home prices in Orange County have leveled off some for a couple of reasons. One, there is just less demand. Earlier this year there was a flurry of buyers looking to purchase a home but there are less buyers right now looking to buy. Two, there’s more homes for sale. Even though there isn’t a huge amount of new listings for sale, that 2 plus percent last month does make a difference.

Do you hear that? Hummmmm. That’s the delightful sound of normalcy. Buyers are buying, sellers are selling, lenders are lending and builders are building. Sure, this varies from region to region and even city to city within a region or state, but by and large, things are returning to normal. All major indices showcase fairly robust price recovery. Consumer confidence isn’t what it could be, but it’s sufficient for now.

  • New Listings were up 2.6 percent for detached homes and increased 26.6 percent for attached properties.
  • Pending Sales decreased 2.5 percent for single family homes but increased 3.7 percent for townhouse-condo properties.
  • The Median Sales Price was up 22.2 percent to $525,000 for detached homes and 31 percent to $330,000 for attached properties.
  • Months Supply of  Inventory decreased 32.4 percent for single-family units and 17.9 percent for townhouse-condo units.

There’s some evidence that it’s not just first-time home buyers fueling the recovery. Move-up buyers are also pulling their weight. Some baby-boomers are ready to look for less space, nudging Junior out of the basement. The pizza boxes and late-night video games get old, plus there’s a fresh crop of buyers looking for a bigger space to raise their own little darlings.

Want to Sell Your Home?

Contact me now and you’ll receive a private consultation at your home. No obligation. 714.989.6040  diego@ehomeliving.com .  [gravityform id=”2″ name=”Send us Your Questions and Comments” title=”false” description=”false”] *Data from PWR and includes Orange County and some surrounding areas.

[idx-listings linkid=”259281″ count=”15″ showlargerphotos=”true”]