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Laguna Niguel Housing Market Report

Laguna Niguel Housing Market Report

Laguna Niguel Housing Market Report. Things have heated up dramatically in the Laguna Niguel housing market and surrounding areas. Home buyers are anxious to secure a property while the interest rates are still good. In many price ranges the inventory is not keeping up with demand. We are starting to see multiple offers again (shades of spring 2013). Not all price ranges are hot but many are. Laguna Niguel Housing Market shows lower than expected inventory. The chart above shows Orange County Housing inventory for four years. The dark blue line shows inventory for 2014. The red line shows inventory for the first three months of 2015. You will notice inventory started the year a little ahead of 2014 but has dropped under the blue line at this time. I experienced a home in Laguna Niguel priced at 799K that received 8 offers on the first weekend. On the other hand high end properties are sitting longer. One significant difference from 2013 is that the prices are higher. Since the spring of 2013 the prices are up about 20% or more but interest rates have dropped. Today buyers paying top dollar want upgraded or move in ready properties. Also due to the higher prices there are fewer investors. Most buyers want to find personal residences. Home sellers will find that buyers are picky and will not pay even market value if there is a lot of deferred maintenance. For more information or a FREE Market Evaluation of your home, call Ron Buck with Keller Williams Realty at 949-456-0505. BRE01364665. L...

“Pricing a home to sell is NOT an exact science!”

“Pricing a home to sell is NOT and exact science”, were the words uttered by a frustrated home seller in the luxury market. I don’t understand it. This week I met with a frustrated seller in south Orange County CA. He has been through two agents, one on the low end “do nothing” but MLS and the other on the high end with “all the bells and whistles”.  NO SALE so far. He could not understand why his home had not sold and could not figure out what the right price was. I was interviewed by him a year ago and I gave him a price and some suggestions. He chose to list his home 700K over what I advised with a different company. By careful evaluation of the high end market I was able to inform the home owner that the supply of homes in his price bracket was equal to over a year and a half. In other words, if NO other listings came on the market (which is unlikely) it would take a year and a half to sell all of the existing homes in his price range. Pricing correctly is quite complicated for many reasons. What most people do not realize is that there IS A REAL MARKET VALUE which we call fair market value. The closer a homeowner prices his home to this fair market value the faster the sale will occur. The higher you price ABOVE the market value, the longer the sale time and the lower the final price will be. The real market value of your home can be improved or...

2015 Proxio Global Real Estate Outlook

2015 Proxio Global Real Estate Outlook       Interest rates are almost certain to rise in 2015. What will drive interest rates higher? The Fed is signaling that the third round of quantitative easing is coming to a close and that a short-term fund rate hike is inevitable. Chief Economist for N.A.R., Mr. Lawrence Yun believes interest rates for 30-year fixed mortgages will increase to 5%, possibly as early as the spring. He also thinks interest rates will rise another 1% by the end of 2016 to a 6% level. Both Freddie Mac and the Mortgage Banker’s Association forecast the 30-year fixed rate to reach 5% by the end of 2015. Dr. Bill Conerly, a well-known economist, sees interest rates climbing even further, to perhaps as much as 6% by the end of 2015. U.S. Home prices level off as more inventory hits the market. Price gains are expected to moderate in 2015 as more inventory hits the market. This should create a more normalized environment between buyers and sellers. With the buying frenzy fading, most forecasts call for a 4 to 6% gain in home prices in 2015. . Residential resale units are expected to increase by 7%, but new development sales are expected to increase by 30%. The resale market will continue to plug along, but new development sales are expected to be very strong in 2015. There is a pent-up demand for new housing, following the precipitous decline of new construction during the housing recession. Builders are coming back strong, but the McMansion style of new homes built in the late 1990’s and early 2000’s...

Home Sellers In OC Must Sell Three Times for a Closing

Home Sellers in the OC Must Sell Three Times for a Closing This principle applies in any area and any market.  What in the world am I talking about? First a Home Seller must sell to the RE AGENTS. Why? Because agents know the home values in their area of expertise and you must win them over to get the agents to bring their valuable clients. The home owner attracts agents through the proper marketing on the MLS system plus broker open houses, electronic advertising and word of mouth. As a home owner you want to get the real estate agents excited. Secondly a Home Seller must sell to the Home Buyers. Why? Because buyers are highly educated by the internet and first hand experience. Home buyers are searching on line when they are supposed to be working or sleeping. Home buyers are hitting all the open houses and in some cases are better educated that the agent holding the open house. In short buyers are obsessed with finding a home. Sometimes they are even obsessed with the process. Oh, yes, they are the ones with the money. Thirdly a  Home Seller must sell to the Appraiser.  Why? Because appraisers have access to all the known sales in the area. Yes, every home is unique. Even the exact model match will have different lots, different elevations and different finishes. Hopefully the appraiser will see the value as well. In the cities of Laguna Niguel, Dana Point, Also Viejo and Mission Viejo in South Orange County CA cash buyers make up anywhere from 20% to 35% of the buyer market...

Top Ten Home Selling Tips

1. Evaluate the competition. Check out the competition and be honest when you compare your home to theirs. Check the sold comparables. 2. Price your home right! If you are not willing to price your home for today’s market then consider waiting until prices go up. It will save you a lot of trouble and stress. 3. Keep the lights and music playing in your home during showings.     4. Make showing your home easy for Realtors. Some buyers have restricted schedules, or make a special trip into Laguna Niguel for a weekend just to look  at real estate. 5. Make those nagging home repairs that you may have been putting off. If you don’t fix those home repairs, be sure the inspector for the buyer will find the property issue. 6. Make your home smell inviting. Cinnamon sticks in the crock pot, scented candles and plug-ins will help promote good feelings. 7. Make sure your home is in spotless condition. Everyone buys homes emotionally whether they admit it or not. Staging your home often prompts a faster, higher offer. 8. Hold Open Houses. Yes, buyers need to see homes. When the buyer is with their Realtor or not, the buyers are out looking around Laguna Niguel for their next home. 9. Use social media to promote your home to everyone you know.    10. Hire the most professional Realtor® who will market your home.   If you are thinking of selling your Laguna Niguel real estate or selling real estate anywhere in South Orange County, Ron Buck, Realtor, with 16 years experience can help you sell your home  The Ron Buck...

Fall Home Buyers Are Serious Buyers

Fall Home Buyers Are Serious Buyers Inventory in Orange County CA usually peaks in July or early August and then drops steadily until Christmas and New Years. Toward the end of January and in February the active home inventory begins to climb again. Remember, Fall home buyers are serious buyers. The reason for the drop in inventory in the fall is two fold. Many homes have sold but there are many homes that were overpriced and if they have not sold by the start of school many home sellers take there property off the market (cancelled or expired listings). Secondly the daylight hours are shorter and the sellers begin to plan for holiday season. Buyers seem to get a second wind in the fall.  Some buyers that were unable to obtain a home or could not compete for some reason in the spring are still out there and when vacation time is over we see them come back to the open houses. Another source of fall buyers are business people who are being relocated or transferred. Many of these transfers happen around the first of the year so those business people are often taking time to come and scout for homes on long weekends or even holiday weekends – especially the one right after Thanksgiving. In short the buyers which show up in the fall or between the holidays are fewer but often very serious. Remember too that the inventory has been dropping so there are fewer homes to look at. In addition, investors and sometimes Realtors and out shopping in December for a good deal too. Therefore don’t...