Fullerton Housing Looks Promising

Fullerton Realtor Diego Loya

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.

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 13 percent for single family homes and 25 percent for condos and townhome properties.
  • Pending Sales decreased 16.9 percent for single family homes and up 31.8 percent for townhouse-condo properties.
  • The Median Sales Price was up 21.4 percent to $563,500 for single family homes and down 12.3 percent to $315,000 for condos and townhome properties.
  • Months Supply of  Inventory was a positive up 4.5 percent for single-family homes but down 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 Fullerton Homes For Sale

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

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Real Estate Sizzles in Orange County, CA

Real estate is sizzling in Orange County, CA as home prices continue to climb year over year, month over month. I’ll say it again, if you are contemplating selling, do it! Don’t miss the boat. Real estate prices will not stay high forever and we cannot predict the future, all we know right now is sellers are walking away very happy.

It won’t be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there’s less incentive for these kinds of buyers, yet affordability for consumers remains attractive.

  • New Listings were up 4.2 percent for detached homes and increased 32.1 percent for attached properties.
  • Pending Sales increased 18 percent for single family homes and 25.9 percent for townhouse-condo properties.
  • The Median Sales Price was up 24.3 percent to $534,500 for detached homes and 41.8 percent to $348,000 for attached properties.
  • Months Supply of  Inventory decreased 53.8 percent for single-family units and 48.5 percent for townhouse-condo units.

With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.

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 . 

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Orange County Homes For Sale

(Contact me if you are searching for a specific property or property type)

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Real Estate is on Fire in Brea, CA

Helpful Tips For Home Buyers          Helpful Tips For Home Sellers

Brea has been on fire and it doesn’t look like it will be stopping anytime. All indicators are up. There has been an increase of homes for sale, homes in escrow and homes that have sold. As long as there is a shortage number of homes for sale the demand will push up home prices. It seems like it will be a record year for Brea. It is time to sell Brea properties.

As potentially the brightest sun in the current economic recovery, housing  activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.

  • New Listings were up 62.1 percent for detached homes and increased  an astounding 250 percent for attached properties.
  • Pending Sales (homes in escrow) increased 54.2 percent for single family homes and 75 percent for townhouse-condo properties.
  • The Median Sales Price was  up 20.2 percent to $620,000 for detached homes and up 14 percent to $345,000 for attached properties.
  • Months Supply of  Inventory (total available homes for sale) decreased 60.5 percent for single-family units and 17.6 percent for townhouse-condo units.

The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 percent again but are not likely to reach 3.3 percent again.

Helpful Resources:

Other Valuable Videos:

Diego Tell Me More, I’m looking to Buy or Sell Real Estate

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Brea Homes For Sale

(Contact me if you are searching for a specific property or property type)

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Brea’s Capriana To Open in May

Capriana, a 5.5 acre luxury premiere senior community center located in Brea, California, is nearly finished. Construction has been taking place within the development for some time now and doors are finally ready to be opened this May. The new senior community center will offer the best in continued care services and amenities. Providing comfort, quality and five-star care, Brea’s Capriana is sure to suit every resident’s needs.

“Capriana is the result of years of our relentless pursuit of excellence in senior living,” says Bill Gallaher, founder of Oakmont Senior Living, who developed the Capriana property with his wife, Cindy. “This Continuing Care Retirement Community (CCRC) is truly unparalleled, showcasing beautiful architectural design and featuring the highest standards in services and amenities.”

The senior community development will contain 75 apartment homes, 4 individual homes and the Villagio at the Capriana, a 40-unit care center. The property will also offer a vast array of amenities including 24-hour call systems and complimentary move-in services with an in-home visit and moving day support from the caring staff at Capriana. Each apartment home will also include private balconies or patios, upgraded finishes, as well as ten-foot ceilings.

Additional Capriana amenities include a private library, computer and business center, activity room, salon and day spa, art studio, movie theater, wellness center, resident gardens and a comprehensive fitness center.  The senior community center also offers signature in-home continued care services including temporary home health care, full-time in-home care, and follow-up care after a short-term illness or injury.

If you are interested in learning about homes and properties in the Brea, California area, please contact me for additional information. I would be happy to share the wonderful Brea area real estate opportunities that currently exist on the market.

Brea Real Estate Market Update

Brea Market Update

Brea Real Estate Market UpdateBig Picture: As we step into spring, home buyers and sellers are preparing for a solid real estate market. Buyers are motivated by low interest rates and an attractive affordability while sellers are loving the increased home values and bigger pockets at the end of a sale. Sellers are definitely getting Top Dollar. Here’s how February shaped up.

The Details: 

For Brea Single Family Homes and Condos

New Listings were down 36.1 percent for single family homes and down 25 percent for Townhome / Condo properties. There is a great shortage of homes for sale and a great number of buyers waiting to buy a home. If you’re a homeowner thinking about selling, you may want to consider right now! You’ll definitely get top dollar. Be prepared to sell your home quickly.

Pending Sales increased a 25.9 percent for single-family homes and 0 percent for townhouse-condo properties. No condos were sold in the month of February.

The Median Sales Price for single family homes went up a whopping 46 percent to $583,750 compared to $495,000 a month before.  Prices will continue to rise as long as there is a strong demand for housing. There are many buyers wanting to live in the city of Brea.

Months Supply of Inventory decreased 80 percent for single-family units and 94.3 percent for townhouse-condo units. Only 22 single family homes were for sale in Brea in February and only 1 condo. Compared to 34 homes and 3 condos for sale in January. Months Supply of Inventory means how many months it will take to sell every home that is currently for sale in Brea. This is a very low number and is one of the main reasons home are starting to get up in price quickly. In a normal market, you would want to see about 3 months inventory.

A few consumers may feel less confident due to Washington’s latest self inflicted crisis. Others would advise not to read the news in the first place. The fact is, the economy continues to grow, but at a snail’s pace. Sequestration is more of a nuisance than a real threat to recovery; and there’s significant pent–up demand from renters, first-timers, parental basement dwellers and investors to counteract it.

I provided a chart and graph below with more information on the current real estate market in Brea.

If you are thinking of selling your property, contact me for a consultation  I will tell you how much you can sell your property for and what is the best way to market your home. 714.989.6040. diego@ehomeliving.com

Buyers, let me know if you are looking to buy in Brea. We have a special priority list for new homes that hit the market. 714.989.6040 diego@ehomeliving.com

Brea Real Estate Market Update Feb 2013

Current Homes For Sale  in the City of Brea

To See Homes For Sale in Other Areas Search HERE

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Brea Real Estate – What's Going On?

Big Picture: Real Estate in the City of Brea has seen to normalize with a a swing upward in home prices. The numbers are largely positive. Before I bore you with the details, here’s the scoop. This is great news for home sellers, but as a buyer, finding a home has been a difficult task.

The Details: 

For Brea Single Family Homes and Condos

New Listings were down 12.1 percent for single family homes and up 50 percent for Townhome / Condo properties. There is a great shortage of homes for sale and a great number of buyers waiting to buy a home. If you’re a homeowner thinking about selling, you may want to consider right now! You’ll definitely get top dollar.

Pending Sales increased a big 100 percent for single-family homes and 20 percent for townhouse-condo properties.

The Median Sales Price was up 5.3 percent to $495,000 for single family homes and 26.9 percent to $295,000 for Townhome / Condo properties. Prices will continue to rise as long as there is a strong demand for housing. There are many buyers wanting to live in the city of Brea.

Months Supply of Inventory decreased 65.8 percent for single-family units and 79.4 percent for townhouse-condo units. Months Supply of Inventory means how many months it will take to sell every home that is currently for sale in Brea. This is a very low number and is one of the main reasons home are starting to get up in price quickly. In a normal market, you would want to see about 3 months inventory.

It’s important to watch the economy, since job growth directly fuels home purchases and since the housing industry generates jobs. The economy has added about 6.1 million jobs over the past 35 months, a sluggish but encouraging trend. Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.

I provided a chart and graph below with more information on the current real estate market in Brea.

If you are thinking of selling your property, contact me for a consuiltation. I will tell you how much you can sell your property for and what is the best way to market your home. 714.989.6040. diego@ehomeliving.com

Buyers, let me know if you are looking to buy in Brea. We have a special priority list for new homes that hit the market. 714.989.6040 diego@ehomeliving.com

Brea Local Market Update Jan 2013

 

Current Homes For Sale  in the City of Brea

To See Homes For Sale in Other Areas Search HERE

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Rate of Brea Homes Selling Keeps Increasing

Home Living Real Estate Sells Your HomeA renewed urgency has overtaken California real estate, particularly in Orange County and cities such as Brea. Virtually every major factor is up compared to the previous year. And the frequency of home sales in Brea, low inventory and decreased number of foreclosure sales continue to heat up the buying frenzy, which will only pick up even more speed in 2013. Record lows in interest rates and mortgage borrowing promise to keep a surging California real estate market soaring in the new year. Such attractive rates will not only spur new inventory to be placed on the market but also invite more buyers and sellers who have been waiting for signs of a revitalized real estate market before entering the fray.

And even if inventory remains low, demand shows no sign of slowing down, especially in Orange County and cities like Brea. Nationwide, it seems that home buying interest has regained momentum but California specifically seems to be growing by leaps and bounds:

  • Overall home buying has increased over 10%
  • New home sales grew by 25% compared to the previous year
  • The median price for homes has surged by nearly 12%
  • Single-family residential construction has picked up by 43% while new apartment builds have grown by 19%

Lastly, prices continue to rise and that should prompt home owners who have been holding onto inventory to place their properties on the market. This increase in supply can only motivate would-be investors waiting for a more promising outlook.

In short, considering any of the number of Brea homes for sale will be an intensive process requiring patience and in-depth research. Partnering with an informed ally will be of the utmost importance. I’m here and ready to help just as I’ve helped hundreds of other buyers looking for luxury real estate in Brea. I’m eager to get you started on your journey. Give me a call today.

City of Brea Real Estate

Personalize your search and have access to all homes for sale in the City of Brea within the Multiple Listing Service  HERE

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Brea Property Values On The Rise as 2013 Begins

Brea Home Values RiseBrea property and homes across Orange County are selling at their greatest since the collapse of the real estate industry in the mid-2000s. The overall number of homes purchased surged by 25% in November 2012 compared to the previous year, evidence that the local housing market is not only rallying by accelerating as we enter 2013. This increase in activity, combined with low inventory, has put valuations on a northward track. DataQuick Information Systems, which tracks real estate trends, also reported that the median housing price for Orange County increased an average of $50,000, over 12% in the same year-over-year comparison.

Numerous market indicators suggest that the frequency of real estate purchases in Orange Counties and areas like Brea are picking up pace, notably:

  • November was the tenth consecutive month where more property was purchased year over year
  • The rate of sales continue to climb in spite of a derth of inventory as reported by www.ReportsOnHousing.com
  • The median house price in Orange County has only crested $450,000 twice since the real estate market dropped and both occurrences were in 2012, in June and October

And the low inventory of Brea homes for sale and rising prices have done nothing to discourage buyers from entering the housing market for the first time or purchasing investment property. Such strong, positive rates of change suggest that Brea will continue to grow in the next twelve months as it has done in the previous twelve to eighteen. If you are considering buying real estate in the Brea area, you should align yourself with a realtor who knows the area to help find your way through a landscape of competitive bids and hard-to-find properties.

I’ve been serving Brea luxury real estate for many years and would love to hear from you. Drop me a line today so we can begin the discussion.

City of Brea Real Estate

Personalize your search and have access to all homes for sale in the City of Brea within the Multiple Listing Service  HERE

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Foreclosures Fall In Brea and Orange County

Short Sale Questions AnsweredRealtyTrac recently listed those cities with the most foreclosures anticipated for 2013. Not one California location made the list, even those counties which had been amongst the foreclosure leaders in years past such as Riverside and San Bernardino counties. Compared to states like Florida, which had eight listings on the report, this is a landmark achievement and is another strong signal that the California real estate mark is about to experience a serious resurgence. It prompted the vice president of the reporting company, Daren Blomquist, to say, “What’s happening is California has been at the forefront of the crisis for years, but now, it’s also leading the way out.”

The locales that made the list had experienced at least a 20% increase in the volume of foreclosures. A number of factors has contributed to California’s improvement, such as increased short sales, a blossoming job market and an overall increase in demand. The short sales are a particular boon to the inventory issue as it allows distressed owners to sell properties at less than what is owed on the mortgage. And despite the decrease in number of distressed properties, the fact that demand is still increasing is most likely the most positive sign of all. It means that buyers are not just looking for bargain priced properties but are targeting cities such as Brea and Fullerton as sound long-term property investments.

Of course, this comes as no surprise to those of us who call Orange County and cities like Brea home. It is an ideal location not just for speculative property purchases but for relocation to raise a family and pursue new career opportunities. Brea is a city of perpetual opportunity and renewal. It is the reason why I have spent so many years helping so many families purchase a home in Brea and nearby communities such as Fullerton.

If these features and positive forecasts sound like appealing aspects of a community you would like to join, just drop me a line so we can start you on your search for the perfect Brea home.

City of Brea Real Estate

Personalize your search and have access to all homes for sale in the City of Brea within the Multiple Listing Service  HERE

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Brea Home Prices on the Rise, Take Advantage Homeowners

Brea Home Prices Increasing

Brea Home Values RiseThe median home price in the city of Brea has risen from the same time last year. More specifically, home prices in Brea have steadily increased since 12 months ago but since November 2012 home prices have skyrocketed.

Why? There has been a rapid drop in inventory levels across Brea. Simply, as the number of available homes goes down, prices increase – simply due to demand. The drop off in homeowners deciding to put their home for sale can be due to several factors.

  1.    The winter and holiday season are typically the slowest months in real estate as homeowner are busy with the holidays and await the new year to take action.
  2.    2012 was an election year. With uncertainty of which direction the country will be led usually causes people to hold off on major decisions.
  3.    The dreaded fiscal cliff. To add more uncertainty, elected officials and the media kept everyone on pins and needles as to if the country would fall off the cliff. A last-minute back door agreement was made but consumers mind had been made up. Wait and see what happens.
  4.    Banks holding on the notorious shadow inventory. As banks and lenders struggle to move the great foreclosure shadow, more decisions have been made to help struggling homeowners or at least keep them in wait. This has caused housing inventory released to the market slow. Both short sales and bank owned REO’s have plummeted. This is good news to those homeowners and has created a great demand for available housing.

Fantastic News for Homeowners

If you have been considering selling your home. There has been no better time in recent memory to put your home for sale. Conditions are great to sell your home at top dollar. Buyers will be knocking down your door to accept their offer and will do just about anything to get it. As the past two years have been a ripe buyers market, it is now the turn of the seller to take advantage of these times.

Contact me for a personalized property evaluation for Free with no obligation. (714) 989-6040 diego@ehomeliving.com. 

Brea housing market statistics are as of 1/11/2013. The statistics you see are the most current.