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Orange County Housing Market Summary Jan 2018

by Ashlie DuCros

Orange County Housing Market Summary:

 

  • The active listing inventory increased by 310 homes since the start of the New Year and now totals 3,707. Expect the inventory to increase from now through mid-Summer. Last year, there were 4,376 homes on the market, 669 more than today.
  • There are 31% fewer homes on the market below $500,000 today compared to last year at this time and demand is down by 28%. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly disappearing.
  • Demand, the number of pending sales over the prior month, plunged by 158 in the past couple of weeks, down 10%, and now totals 1,447, most likely its lowest point of the year. The average pending price is $839,613.
  • The average list price for all of Orange County decreased to $1.8 million after reaching a record $1.9 million two weeks ago. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.
  • For homes priced below $750,000, the market is HOT with an expected market time of just 46 days. This range represents 38% of the active inventory and 62% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 67 days, a slight seller’s market (between 60 and 90 days). This range represents 17% of the active inventory and 19% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 101 days, a balanced market that does not favor a buyer or seller.
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time increased from 123 days to 157. For homes priced between $1.5 million and $2 million, the expected market time decreased from 196 to 188 days. For luxury homes priced between $2 million and $4 million, the expected market time increased from 266 days to 285 days. For luxury homes priced above $4 million, the expected market time increased from 667 to 695 days.
  • The luxury end, all homes above $1.25 million, accounts for 36% of the inventory and only 12% of demand.
  • The expected market time for all homes in Orange County increased from 67 days to 77 in the past two weeks, a tepid seller’s market (60 to 90 days). From here, we can expect the market time drop dramatically by the end of this month.
  • Distressed homes, both short sales and foreclosures combined, make up only 1.3% of all listings and 2.7% of demand. There are only 17 foreclosures and 33 short sales available to purchase today in all of Orange County, that’s 50 total distressed homes on the active market, dropping by 11 in the past two weeks and reaching its lowest level since the very beginning of the Great Recession. Last year there were 112 total distressed sales, 124% more than today.
  • There were 2,269 closed residential resales in December, down by 9% from December 2016’s 2,484 closed sales. December marked a 6.5% drop from November 2017. The sales to list price ratio was 97.3% for all of Orange County. Foreclosures accounted for just 0.8% of all closed sales and short sales accounted for 0.9%. That means that 98.3% of all sales were good ol’ fashioned sellers with equity.

​​For more information, please contact us at 714-743-9778, or email ashlie@ashlieducros.com

Orange County Housing Market - Novemeber 2017

by Ashlie DuCros

Here is the Summary of Orange County Housing market

The active listing inventory decreased by 337 homes in the past couple of weeks, the largest drop of the year, and now totals 4,878. The trend is down for the remainder of the year. Last year, there were 5,955 homes on the market, 1,077 more than today.

  • There are 36% fewer homes on the market below $500,000 today compared to last year at this time and demand is down by 16%. Fewer and fewer homes and condominiums are now priced below $500,000. This price range is slowly disappearing.
  • Demand, the number of pending sales over the prior month, increased by 16 homes in the past couple of weeks, up 1%, and now totals 2,409. The average pending price is $879,146.
  • The average list price for all of Orange County remained at $1.7 million. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end.
  • For homes priced below $750,000, the market is HOT with an expected market time of just 40 days. This range represents 40% of the active inventory and 61% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 51 days, a hot seller’s market (less than 60 days). This range represents 17% of the active inventory and 20% of demand.
  • For homes priced between $1 million to $1.25 million, the expected market time is 85 days, an extremely slight seller’s market with very slow appreciation.
  • For luxury homes priced between $1.25 million and $1.5 million, the expected market time decreased from 111 days to 100. For homes priced between $1.5 million and $2 million, the expected market time decreased from 173 to 154 days. For luxury homes priced between $2 million and $4 million, the expected market time decreased from 218 days to 164 days. For luxury homes priced above $4 million, the expected market time increased from 326 to 424 days.
  • The luxury end, all homes above $1.25 million, accounts for 35% of the inventory and only 13% of demand.
  • The expected market time for all homes in Orange County decreased in the past couple of weeks from 65 days to 61 days, a tepid seller’s market (60 to 90 days). From here, we can expect the market time to remain relatively flat, rising slightly by year’s end.
  • Distressed homes, both short sales and foreclosures combined, make up only 1.2% of all listings and 2.3% of demand. There are only 20 foreclosures and 38 short sales available to purchase today in all of Orange County, that’s 58 total distressed homes on the active market, decreasing by 9 in the past two weeks. Last year there were 133 total distressed sales, 129% more than today.
  • There were 2,543 closed residential resales in October, down by 1% from October 2016’s 2,575 closed sales. October marked a 7% drop from September 2017, normal for the Autumn Market. The sales to list price ratio was 98.2% for all of Orange County. Foreclosures accounted for just 0.7% of all closed sales and short sales accounted for 1.2%. That means that 98.1% of all sales were good ol’ fashioned sellers with equity.

​​For more information, please contact us at ashlie@ashlieducros.com or 714-743-9778

5 Ways to Sell Your House Stress-Free

by Ashlie DuCros

You’ve made the decision to sell your house. You may have been mulling it over for years, or perhaps a sudden life change has prompted you to make the leap. Whether you’re relocating for a job, empty-nest downsizing, or just need a change, you’ve made it past the first hurdle of reaching the decision!

But the many complicated logistics of selling your house may feel overwhelming. Before you get stressed out and change your mind about the whole thing, know that there are some great ways to stay focused and positive as you navigate this important step. Here are some tips to help you sell your house stress-free to make this leap a very positive one.

Be Clear About Your Objectives Up Front

A lot of communication is required when selling a house, so it’s critical to set a clear set of objectives to yourself and everyone else involved in the process: your real estate agent, your family, and your friends. From the outset, determine an attainable selling price for your home with your real estate agent, and set up clear and reliable lines of communication.

Be clear with your family and friends about what they can expect during the process, and what you’ll need from them to help facilitate the situation with as little stress as possible. Determining your goals and expectations and sharing them clearly with those closest to you is a critical step in eliminating undue stress as you maneuver through the process of selling your home.

 

Stay Flexible

You may have an idea in your head of how long it will take to sell your home. If it begins to take longer than what you expected, the stress will grow. Keep in mind that there are so many variables at play—the location, the price, the market—and you’re setting yourself up for disappointment if you set your mind to a too rigid deadline. An immediate house sale is rare, so it’s best to curb your expectations and stay flexible as the process unfolds.

 

Keep Things Tidy

You may be required to show your home to potential buyers at a moment’s notice. Maybe they’re in the area and want to pop in to view your home, or perhaps some out-of-towners want to add your house to their list before ending their visit. You won’t be so easily rattled by these last-second requests if you work diligently to keep your house tidy and in order at all times.

Make beds before leaving for work in the morning, never leave dishes in the kitchen sink, and keep up with the laundry and vacuuming. Thoroughly clean the bathrooms every week. If this is overwhelming, consider hiring cleaning help during this transition period. You may want to consider enlisting the help of a willing friend or neighbor who can help with last-minute tidying up if you can’t leave work. Keeping things neat consistently will dramatically reduce your stress level when last-minute showings come up.

 

Leave the House for Social Activities

Sometimes the pressure of unexpected showings and persistent phone calls can begin to take an emotional toll. To stick a pin in the building stress of selling a home, give yourself permission to get out of the house on occasion.

Go out to dinner with friends. Take a long weekend trip. Go to a museum or sporting event. Think of this time as an investment in your personal well-being, by getting your mind off the house sale for a bit. Getting out of the house can work wonders, especially during the first few weeks your house is listed.

 

Adopt a Healthy Lifestyle

No matter how all-encompassing it may seem, selling a house is never more than one piece of the large pie of life. Don’t forsake your other needs and demands while navigating the process of selling a home. Maintain a healthy lifestyle throughout the process by eating healthy meals and getting plenty of exercise and sleep.

If you plan to move out of town, you may not be inclined to get a gym membership or join a yoga class. But you can still walk for a half hour every day or take the kids to a park where you can blow off some steam together.

Getting the appropriate nutrition is a natural way to help your body fight stress. Drink more water, pass on the fried foods, and get more hours of sleep than normal. You’ll thank yourself for the extra effort.

Selling your house can be stressful, but if you set realistic expectations and come to terms with the certainty of uncertainty for the time being, you’ll make it through with a smile.

If you need help selling your home, contact me today!

6 Tips for Selling Your House in Winter

by Ashlie DuCros

With people away on trips and cold weather making house hunting less appealing, winter can be a challenging time to sell your home. On the other hand, fewer homes on the market means yours will get more attention from buyers. By upping the cozy factor, making the most of winter assets and paying attention to details, you can make your house really stand out.

Here are six ways to prepare and stage your home for success, and create a warm and welcoming vision for buyers, even when the weather outside is frightful.

 

1. Have a cozy, crackling fire.

If you have a gas fireplace or new clean-burning woodstove, go ahead and light a fire to welcome visitors. But if your home's wood-burning fireplace is older and leaves a smoky smell in the room, hold off. Those with allergies or smoke sensitivities can be turned off — or literally turned away when they have to go outside.instead.

 

2. Keep entryways scrupulously clean.

 As with any time of year, a clean and clutter-free house will sell more easily (and maybe at a higher price) than one with more visible clutter. During winter it is especially important to remove mucky boots outside and keep family gear hidden in a closet or trunk, where potential buyers won't trip over them.

 

3. Give each room a warm touch. 

A folded throw draped over the back of an armchair, a plump quilt at the foot of the bed or an area rug in warm hues are a few small additions that will make a big difference in the way a room feels to prospective buyers. Also, be sure that every light is on — even for daytime showings. Winter days can be quite dim, and your house will look its best when it's as warmly lit as possible.

 

4. Show how outdoor rooms can be used even in the coldest months. 

If you have a covered porch or outdoor fireplace, be sure to keep the area fully furnished. Turn on outdoor lights, build a fire in the fireplace and drape a few thick throws over your outdoor furniture.

 

5. Showcase the entertaining possibilities of your home. 


Winter is prime time for festive parties and holiday open houses, so whet prospective buyers' appetites with an enticing display. Set out stacks of plates and fresh flowers on a dining room buffet or display holiday cookies on cake stands in the kitchen.

 

6. Do decorate for the holidays.

Buyers want to be able to envision living in your home, so it pays to make that vision as inviting as possible. Festive twinkling lights, green wreaths or topiary, and a decorated tree near Christmas will strike the right note. That doesn't mean you have to go overboard — in fact, a house overly cluttered with holiday decor can be a real turnoff.

How To Sell Your Home Quickly

by Ashlie DuCros

Statistics prove that buyers decide whether they want to buy a house in the first 30 seconds. First impressions are everything. Your buyer is shopping for a dream and if your home is not selling that dream, your buyer will be out the door and the offer never comes.

A few simple tricks can do wonders to any home and help sell them quicker.

DECLUTTER
When you decide to sell, you need to remove yourself emotionally from your home. It is not yours anymore, it is the Buyer’s. It’s time to go through everything you own and decide if you want to take them with you to your new home. If not, toss them. Anything that made the cut, box them and put them into storage. When professional staging companies visit a property, often they remove as much as 50% of the owners’ furniture.

CLEAN
It’s time for a thorough clean. Focus on floors, bathrooms and kitchen appliances; have a professional oven cleaner do their magic and completely revive your old, greasy oven. Nothing turns off people more than moldy, lime scaled, dirty bathrooms. Bicarbonate of soda can completely transform and remove old lime scale from shower doors and from basins and taps. Wash doors and windows, inside and out.

DECORATE
Whereas your favorite colors are part of your personality, homes with neutral, muted colors sell best. They don’t need to be bland and beige. You can still use your favorite colors on your walls, just try and choose the palest version of them. Rooms that are painted in the same colors and tones flow better, making the space light, airy and more spacious. Repaint skirting boards and door frames.

STAGE
Furniture placed next to the walls to make the space bigger is actually a myth. Grouping them together forms a cozy space which helps the room flow better. Keep as little personal items on display as possible. Don’t forget, you’re selling the Buyers their lifestyle, not yours. Clean linens and towels in the bathroom are vital. They help create that crisp, hotel look that most buyers look for.

The interior of your home only matters if the exterior is not neglected. A smart front is what can make viewers excited or turn them off completely, even before they set foot in your home. Your greenery should be freshly cut and pruned and well maintained. If you can, give a new coat of paint to your front door and a new door mat is an inexpensive way to give you maximum curb appeal.


Call me if you're thinking about selling and I'll help you t
urn your sale into a success by staging your home to its best potential!

Yorba Linda Real Estate Market Update

by Ashlie DuCros

Yorba Linda Real Estate Market Update for September 2014

There are total of 295 homes for Sale in Yorba Linda. Yorba Linda's home resale inventories decreased slightly, with a 1 percent decrease since August 2014. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in September. The median listing price in Yorba Linda stayed the same from August to September. There were a total of 21 price increases and 125 price decreases.  Total  homes in escrow is 124, with total of 69 homes that closed in August 2014.

Are you curious about your home value? Simply go to www.YorbaLindaHomeValue.com to find out via email!

Real Estate Facts:A look at Spring 2014 Housing Market

by Ashlie DuCros

Real Estate Facts: A look at Spring 2014 Housing Market.

What do you think about this article?

 Written by Steve Cook on March 4, 2014 in Real Estate  |   No comments 

real estate factsLast year, housing prices increased more than they had in seven years, and buyers’ markets turned into sellers’ markets overnight. In many cities and towns across the country, this price jump was a result of inventory shortages that forced buyers to compete over the few homes that were available for sale.

Will the housing recovery continue at a rip-roaring pace this spring, or will it slow down to let real estate consumers catch up?

Real estate facts for spring 2014

Whether you’re buying a home or selling a home this year, you should be planning for the opening of the spring homebuying season. Spring is the time of the year when most new homes come onto the market and when most buyers are looking—especially families with school-age children who want to be settled in their new homes in time for school in the fall.

The spring season sets the pattern for the year in terms of sales and price. So even if snow is still on the ground where you live, it’s time to get an idea of what to expect when your housing market emerges from hibernation.

Prices will rise—slowly. After explosive gains in many markets, home prices retreated in the fall of 2013 and the recovery’s momentum slowed. While home prices are expected to continue to rise this year, the stage has been set for them to do so at a much slower pace than last year. Experts predict that prices will rise between 3 percent and 4 percent nationally—more in the hot markets of California and less in markets such as Ohio, New England, and the Southeast.

An upswing in prices is good news for sellers hoping to get good money for their homes. Yet prices remain below their historic highs, despite the rising prices, which is fortunate for buyers.

Inventory may be limited. On January 1, inventories on Realtor.com’s database of nearly 2 million listings had fallen to virtually the same levels as last year, erasing the year-over-year inventory growth. This raises questions about the possibility of a return to the market dynamics of last year, which saw inventory shortfalls drive prices upward.

Monitor inventories in your market to see if they grow as significantly as they should in February and March. If not, you might see a repeat of last year’s shortage-driven price bubbles.

Market times will be shorter. If you’re a buyer, be ready to move fast this spring. The average market time among the 52 markets surveyed by RE/MAX in November was only 68 days. These short market times indicate that other buyers are ready to move fast, and you should be too.

Of course, market time will vary by the price of the home. Lower priced entry-level homes will sell faster than luxury homes priced at $1 million or more. According to the Institute for Luxury Home Marketing, more expensive homes are selling in a median of 181 days.

There are more question marks than usual this spring season because of the dramatic price surge of 2013 and the unanticipated shortages of homes last year. Even so, the 2014 season should be much better for buyers and sellers, with prices on the rise (but still below historic peaks in most markets) and mortgages easier to get for borrowers with good jobs and good credit.

Steve Cook is managing editor of Real Estate Economy Watch, which was recognized as one of the two best real estate news sires of 2011 by the National Association of Real Estate Editors. Before he co-founded REEW in 2007, he was vice president of public affairs for the National Association of Realtors. In 2006 and 2007, he was named one of the 100 most influential people in real estate. During his 30 years in public affairs, Cook has been a broadcast news correspondent, served two Members of Congress as press secretary and was a senior executive in the world’s largest independent public relations firm in Washington and Chicago.

Mortage applications drop as rates edge higher...

by Ashlie DuCros

Mortgage Applications Drop as Rates Edge Higher

For the second consecutive week, mortgage applications fell as higher interest rates continued to put the squeeze on refinancing activity, the Mortgage Bankers Association reported Wednesday. 

The MBA’s index on mortgage application activity, which includes both refinancing and home purchases, dropped 4.6 percent for the week ending Aug. 16. 

The refinance index was attributed to that drop, falling 7.7 percent last week from the previous week -- its largest weekly drop since late June. The refinance index has fallen 62.1 percent since reaching its peak during the week ending May 3. 

Applications dropped as mortgage rates rose 12 basis points to 4.68 percent last week. That matches the year’s high for 30-year mortgage rates, which was first hit in July, according to the MBA. Mortgage rates continue to rise as concerns mount over the Fed tapering its bond-buying program, which had been keeping mortgage rates near its historical lows in recent months. 

However, mortgage rates still remain low by historical standards and are still attracting home buyers. The MBA’s index showed that loan demand for home purchases, viewed as a gauge for future home sales, rose 1.2 percent last week. That climb comes after a 5.4 percent drop the previous week, the MBA reports. 

Source: “U.S. Mortgage Applications Fall as Rates Push Higher,” Reuters (Aug. 21, 2013

May 2013 Orange County Real Estate Market Stats

by Ashlie DuCros
Orange County Home Stats                         May 2013                   
 
City For Sale In Escrow  
Anaheim 131 238  
Anaheim Hills 66 42  
Brea 36 37  
Fullerton 124 116  
Irvine 259 165  
Laguna Beach 193 28  
Newport Coast 69 16  
Orange 118 120  
Tustin 48 70  
Yorba Linda 120 90  
       
Check out these numbers of homes for sale vs. in escrow for the month of May in Orange County Real Estate. For more information, please contact us at Aducroshomes@gmail.com, or 714-743-9778

March 2013 Orange County Home Stats

by Ashlie DuCros

 

 March 2013 Homes For Sale VS Homes in Escrow

  For Sale In Escrow      
Anaheim 130 192      
Anaheim Hills 66 43      
Brea 18 35      
Fullerton 123 98      
Irvine 207 178      
Laguna Beach 176 22      
Newport Coast 68 17      
Orange 131 105      
Tustin 55 70      
Yorba Linda 80 68      
           
Check out these numbers of homes for sale vs. in escrow for the month of March in Orange County real estate. For more information, please contact us at Aducroshomes@gmail.com, or 714-743-9778    

 

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Ashlie DuCros & Associates
Coldwell Banker Previews Global Luxury
21580 Yorba Linda Blvd.
Yorba Linda CA 92887
714-743-9778
Fax: 714-849-5489