Stacy’s Newport Beach & Real Estate

Newport Beach, Corona Del Mar & Coastal OC Real Estate

Archive for orange county

Newport Beach & Orange County, CA Traditional Real Estate Market Trends-March 2010

*The sellers of a 1,600 square-foot, 2-bedroom, 2-bath condominium want to move up. They have $200,000 in equity and an outstanding loan amount of $200,000 at 6%. The move-up seller’s monthly payment is $1935.77 including principal and interest, $1,199 .10; property tax, $366.67; and homeowners fee, $370.

For only a few hundred dollars more a month, these move-up sellers can purchase a newer 2,200-square-foot, 4-bedroom, 3-bath home for $550,000.have been lost in a little over two years.

Here’s how… (To read the full and current post of Orange County market trends of attached and detached homes with numerous CHARTS,  click on the following link.)

http://bit.ly/OCTraditionalMarketReport-March2010

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Newport Beach & Orange County Real Estate Upscale Market Report for March 2010

Upscale Real Estate Market Reports for Newport Beach, Laguna Beach and all of Orange County, California:

One of the bright spots of the economy is the rise in economic indicators for the last ten months. But in January 2010, five of the ten indicators that rose weren’t the ones the
economy is watching most closely. Jobs, money supply, building permits and capital goods ordered all declined.

The home building industry posted its first production gains in years in January, but new home units are still 75% below where they were at the peak of the housing market. Further
hampering construction recovery are the rising costs of lumber and any goods derived from oil.

That’s a good thing for California home sellers, whose properties don’t need more competition. Foreclosed homes are being dumped on the market and selling at an average 28% discount (according to research by Zillow.com). This has driven housing prices to pre-boom levels.

What’s changed? Jobs – 8.4 million have been lost in a little over two years.

(To read the full post, click on the following link.)

http://bit.ly/OCUpscaleMarketReport-March2010

Orange County Home Gains – best in 4 years

The Orange County housing market is ending the year in style, with the fastest year-over-year appreciation in nearly 4 years.

For the 22 business days ending Dec. 9
Slice Price Yr. ago Sales Yr. ago
Houses $507,500 +18.0% 1,992 +14.8%
Condos $300,000 +13.9% 904 +23.2%
New $517,000 +2.6% 221 -16.9%
All O.C. $440,000 +10.0% 3,117 +14.0%

For the period ending Dec. 9 (includes 22 business days) – DataQuick’s latest homebuying report for Orange County revealed the following:  (1) $440,000 median selling price that is +10.0% vs. a year ago. March 2006 was the last time we saw faster appreciation.  (2) Latest median is -32% below June 2007’s peak of $645,000.  (3) The most recent median is 19% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the 2007 peak.  (4) Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)  (5) Single-family homes resell for 31% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 40% below their February ‘05 top.  (6) In this most recent period, O.C. shoppers bought 3,117 residences — that is +14% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)  (7) November marked 16 out of 17 months with sales gains vs. the year-ago period. That followed 33 consecutive months where sales failed to beat the previous year’s pace.

2010 Rose Parade Attracts Potentially 1.5 Billion Viewers

The 2010 Rose Parade in Pasadena, California, was broadcast in China for the first time increasing potential view-ship to 1.5 billion for the first time.   Captain Chesley Sullenberger ( US Airways) was this year’s Grand Marshall and was joined by his wife and two daughters.   This experienced and capable commercial pilot makes me glad to think of flights to and from Canada, Washington, Idaho, Chicago and Oregon, and of the “snow birds” I’ve helped in Orange County, California.

With two graduates in our family from California Polytechnic University at San Luis Obispo, we’re always enthusiastic to see the float created, built and blended together by the students from both of the Cal Poly campuses – Pomona and San Luis Obispo.  An engineering feat and great annual student project.  Orange County, too, was well-represented in this year’s Rose Parade with several floats and a marching band.

http://tinyurl.com/2010RoseParade

3131 CORTE MARIN, NEWPORT BEACH

Ideal 3-bedroom home in guard gated Newport Canyon.

3131cortemarin-exterior-small  Open living room and dining area with romantic fireplace, vaulted ceilings and French doors that open onto the lovely side yard with bubbling fountain. Remodeled kitchen with granite counters, Travertine backsplash, hardwood floors, newer SS appliances including an undercounter wine refrigerator, and French doors open to the back yard with its’ slate patio and raised gardens. Cozy family room with fireplace and open to the kitchen for true “heart of the home” living. Added bonus of a built-in home office and an attached 2-car garage.  Listed at $1,099,000.  For more information or to view this home, call Stacy McCullough at (949) 887-1199.

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Corona Del Mar Duplex in the Heart of the Village

 Great opportunity to own this large duplex income property in the heart of “the village” of Corona Del Mar. The duplex is spacious with one 3-bedroom plus 3-bathroom unit, and one 2-bedroom plus 2-bathroom unit, each with walk-in closets. The duplex is recently upgraded and provides on-site parking for 3 vehicles including a 2-car garage. Laundry hook-ups are conveniently located in the garage, and each unit has outdoor space whether it’s a deck, patio or front yard. Walking distance to the village and the beach. Offered at $1,599,000.