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April 2011- Orange County Stats

by Ashlie DuCros
April 2011 Orange County Homes For Sale vs. Homes in Escrow:

City:

For Sale:

 In Escrow:

Yorba Linda

341

164

Brea

87

61

Fullerton

417

219

Anaheim Hills

190

93

Newport Coast

128

34

Orange

473

250

Irvine

795

428

Laguna Beach

312

58

 

For more information, please contact me at 714-743-9778 or logon to www.ashlieducros.com

February Pending Home Sales Rise

by Ashlie DuCros

Pending home sales increased in February but with notable regional variations, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, says it’s important to look at the broader trend. “Month-to-month movements can be instructive, but in this uneven recovery it’s important to look at the longer term performance,” he said. “Pending home sales have trended up very nicely since bottoming out last June, even with periodic monthly declines. Contract activity is now 20 percent above the low point immediately following expiration of the home buyer tax credit.”

Yun notes there could have been some weather impact in the February data. “All of the regions saw gains except for the Northeast, where unusually bad winter weather may have curtailed some shopping and contract activity.”

The PHSI in the Northeast fell 10.9 percent to 65.5 in February and is 18.4 percent below a year ago. In the Midwest, the index rose 4.0 percent in February to 81.1 but is 15.9 percent below February 2010. Pending home sales in the South increased 2.7 percent to an index of 100.3 but are 5.3 percent below a year ago. In the West, the index rose 7.0 percent to 105.6 and is 0.6 percent higher than February 2010.

“We may not see notable gains in existing-home sales in the near term, but they’re expected to rise 5 to 10 percent this year with the economic recovery, job creation, and excellent affordability conditions providing confidence to buyers who’ve been on the sidelines,” Yun said.

Source: NAR

For more information, or questions, please contact us @ ADucroshomes@gmail.com, or login to www.AshlieDuCros.com   

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What are the benefits of investing in Real Estate?

by Ashlie DuCros

Today's low interest rates and stabilized home prices have created some great investment opportunities.  Investing in real estate has unique advantages over other types of investments:

  • Interest in mortgage loans are currently tax-deductable.  Investors can lower their tax liability while increasing their equity.
  • Renters pay down your mortgage loan.  Investors reap the benefits of rental income, which offsets your mortgage cost and build equity.
  • Real Estate values have a history of increasing over the long term. Investors want an asset that appreciates with time.  
  • 1031 exchanges are available to defer taxable income when you are ready to sell.

Many investors are taking advantage of these favorable market conditions. Have questions or if you are ready to take advantage of today's real estate market, give us a call at  714-743-9778, or email ADucroshomes@gmail.com.

**Find the Best Deals in homes! Go to www.HotOCbuys.com **

Who’s Buying Homes?The Rich...

by Ashlie DuCros

NEW YORK (CNNMoney) -- The rich are different from you and me: They're buying real estate.

 

After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick Information Systems. On average, these cities saw an 18.6% jump in high-end home sales.

San Jose, Calif., had the biggest market for million-dollar homes, with a 27.4% spike in sales last year; Phoenix saw the smallest increase at just 0.4%.

 

Meanwhile, sales outside of this price point actually fell 2.8%.

 

"It hasn't been a good six months for all people, but it was a good six months for rich people," said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin. "When Wall Street goes up, rich people buy homes."

 

And Wall Street has gone up: Stock values have nearly doubled from their March 2009 lows.

 

"Higher income households are feeling better about their financial security," said Greg McBride, chief economist for Bankrate.com.

 

As their confidence soared, the wealthy took advantage of bargains in expensive homes. An average seaside manor on Jupiter Island, Fla., that might have sold for $4 million in 2006 cost less than $3 million last year. The Brentwood bungalow in L.A. was $1.5 million instead of $2 million, and that Scarsdale colonial fell to $1.1 million after going for $1.5 million four years ago.

Getting a mortgage for these expensive homes was cheaper as well.

 

Normally buyers have to take out a jumbo loan to finance any mortgage beyond the $417,000 threshold ($729,000 in high-cost cities such as New York). These loans have higher interest rates because they are considered non-conforming -- or higher risk -- and are not backed Fannie Mae or Freddie Mac.

 

In 2009 buyers of high-end homes paid 1.8 percentage points more in interest than the average buyer. But in 2010, that spread had shrunk to just 0.6 points more.

 

That reduction would save about $780 a month on a million-dollar mortgage. That may not matter much when you're a software gazillionaire, but for buyers stretching to reach that league, it can make a difference.

Some metro area markets experienced modest price rebounds in 2009, which was enough to push a handful of homes above the million-dollar threshold. In San Jose, for example, home values rose for several quarters, boosting the prices of homes right on the border of a million.

 

"You had some creep into the million-dollar bracket," said broker Scott Kliewer with Windermere Silicon Valley.

 

But in most cities, the million-dollar homes sold were actually million-dollar homes, not just those that crossed into the high-end territory because of rising prices.

 

In New York, where volume grew nearly 25%, high-priced home sales were driven by bonuses on Wall Street. Even though bonuses were slightly smaller last year, they still topped $120,000. And that's just the average; many employees brought home significantly more.

 

Wealthy clients have driven the business for Gary Reavis, the CEO of Keller Williams Hollywood Hills in Los Angeles, where sales rose about 20%.

 

He attributes the jump to the stock rebound and good times in some of the area's best-paying industries, including entertainment.

 

And in Washington, government workers continued to bolster the high-end market, which grew 20% here as well. The DC area is now the best educated place in the nation and and one of the highest paid. Median family income is now over $101,000 in the D.C. area and more than $109,000 in the Bethesda-Rockville, Md., area.

 

Other big gainers were Honolulu (26%), San Diego (14%) and Nashville (13%).

 

The real estate industry may take some solace from the mini boom in high-end sales, but it does not necessarily mean good times are ahead for the rest of the market. In fact, the rest of the market is facing a potential 25% drop in prices and stalling sales.

 

"There are not a lot of million-dollar home buyers even in the best of times," said Bishop. "It's always nice to see any segment come back, but it's the middle of the market we would like to see set the pace."

 For more information, please contact us at 714-743-9778, or email ADucroshomes@gmail.com

www.AshlieDucros.com

 

Time to "Buy" now in Real Estate?

by Ashlie DuCros

Here is an article by WSJ... 5 signs that indicate that buyers should buy a home now! 

1.Jobs- Some parts of the country were less affected by the recession than others. Prospective buyers should review job-growth data from the U.S. Bureau of Labor Statistics, at www.bls.gov. Unlike many backward-looking economic statistics, jobs data are only about a month old and can "clearly show the direction of the local economy," says Carolyn Beggs, chief operating officer of real-estate data provider Local Market Monitor Inc. The National Association of Home Builders also posts state and local employment data, at NAHB.com.

You also want to see a brightening personal-income picture for the previous six-month period. Those numbers are available via the U.S. Dept. of Commerce's Bureau of Economic Analysis, at www.bea.gov.

2.Recent sales activity-Three factors should be taken together: housing inventory, sales volume and prices.

A large inventory of homes with few actual transactions are negative indicators, according to Jeffrey Jackson, chairman of Mitchell, Maxwell & Jackson Inc., an appraisal company in New York. On the other hand, if inventory is falling and transactions are picking up, that is a good sign.

State and local boards of realtors often publish monthly inventory statistics. Inventory breakdown by metro area also can be found at the U.S. Census Bureau's website, in the American Community Survey (www.census.gov/acs/www/). Be sure to compare current inventories with long-term averages.

Also, check out the rental vacancy rates in your area, and judge them against historical rates, which you can find at the Census Bureau's website (www.census.gov) or via local real-estate professionals.

3.Construction- While not as reliable as jobs or sales-trend data for getting a read on a local housing market, the number of permits recently issued for local builders is useful for gauging builder sentiment and, by extension, future housing activity.

You can get recent permit information from your county or municipal building department, or via the National Association of Home Builders (www.nahb.com).

4.Mortgage availability- If you live in an area where most people use mortgages, it is especially important now to gauge local lending patterns. In the aftermath of the financial crisis, most national banks tightened lending standards. But some local banks haven't been hit as hard by the housing crash and are more willing to lend, even for higher-priced homes.

For instance, some smaller lenders in the New York and New Jersey area, such as Lake Success, N.Y.-based Astoria Federal Savings, are actively courting new "jumbo"-mortgage customers. Astoria Federal says it believes jumbo-loan borrowers pose less risk than other borrowers because they can demonstrate ample income and often opt for hefty down-payments.

5.Anecdotal evidence- It might sound old-fashioned in an era of electronic data, but driving around neighborhoods, checking out open houses and talking to local agents still are good ways to gather local-market intelligence.

The key is to do this kind of research only after you have gathered hard data, so that you don't misread the signs. For example, foreclosed homes can generate multiple bids and quick sales, often in all-cash deals—but that doesn't mean the market is healthy.

—M.P. McQueen

** Start your home search today! Go to www.hotocbuys.com** 

You can own 2011 Brand New Homes in Irivine $300,000...

by Ashlie DuCros

The stylish flats and loft inspired living... Starting in the high $300,000,  
the Esplanade are distinguished by unique Spanish and Santa Barbara-inspired architecture featuring two-car garages secluded in central motor courts. With garages hidden from view, an appealing street scene unfolds. Spacious courtyards and balconies set the scene for indoor-outdoor living, and granite kitchen counters head a long list of luxurious amenities. Esplanade is within walking distance of an array of stores and restaurants at Woodbury Town Center. Don't miss out on phase one release!

Call me today  at 714-743-9778, or email me ADucroshomes@gmail.com 

 

Your home didnt sell? Find out Top 9...

by Ashlie DuCros

Why Do Most Homes Listed for Sale Don't Sell?

If your home has just come off the market and hasn't sold, don't be discouraged. The reason your home did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale.

With Orange County home sales at historical lows, many homes just aren't selling.  Most homes didn't sell for a specific reason, other than the state of the real estate market.  In this special report you will learn the nine most common factors that affects successfully selling your home in today's economy.

Don't risk making the wrong choices and losing more time and money on selling your home. Before you hire your next a real estate agent, know the right questions to ask and things to do to save you time and money. Find out the top 9 Reasons why your home didnt sell by clicking on the link below.

Go to www.OCHomeSellingreport.com to download your report today!

 

 

www.AshlieDuCros.com

 

 

March 2011 Orange County Stats

by Ashlie DuCros

March 2011 Orange County Stats: # Of Homes For Sale vs. Homes In Escrow

City:

For Sale:

 In Escrow:

Yorba Linda

331

160

Brea

99

60

Fullerton

415

211

Anaheim Hills

173

88

Newport Coast

123

31

Orange

495

232

Irvine

750

395

Laguna Beach

302

54

 

For questions please contact me at 714-743-9778 or logon to www.ashlieducros.com

 

Displaying blog entries 1-8 of 8

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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