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How Accurate are Online Home Valuations?

by Ashlie DuCros

The real estate market usually heats up with the weather making Summer a busy time for real estate. This may lead many potential sellers to wonder, 

"What's my home worth?" 

As 90% of homebuyers head to the internet first to search for a home, just as many sellers will do the same to find out the value of their home thru an online automated valuation model (AVM) such as

www.orangecountyhousevalue.com


But how accurate are these estimates? 

Many experts will tell you that they are "a good starting point" but that they have an average error rate of about 8%. That may not sound like much, but on a $500,000 house, that would be a $40,000 disparity and that's a lot of money on the table. 

That $40,000 could be unaccounted for in recent upgrades, title defects, permitted versus unpermitted structures, and other property nuances, or physical characteristics that impact local demand and value such as architectural style, year built, and layout/flow of a home. These all have a major impact on the true value of your home.

In short, it simply isn’t possible for any AVM to predict the value of a home with a level of accuracy sufficient to make a housing decision. 


For that, you should contact me to view your home personally and give you an accurate value based on your home’s unique qualities and neighborhood trends and activity. I have years of experience in effectively pricing your home to sell for top dollar! 



Get your FREE automated valuation at www.orangecountyhousevalue.com and then call me when you’re ready to place your home on the market. 

 

 

Have you entered the Coldwell Banker $20,000 Cash Giveaway

Enter for a chance to win at www.coldwellbankergiveaway.com/ashlieducros

 

The OC Fair Opens Today!

by Ashlie DuCros

The 2016 OC Fair wants to see your thrilled, happy and excited Fair faces as part of this year's theme, "Get Your Fair Face On!" The fun starts today and lasts through Sunday, August 14th. The 23-day event is packed with fun for the whole family including nightly entertainment, unique food, carnival rides and headline performances in the Pacific Amphitheatre, nightly music in The Hangar and adrenaline-inducing events in the Action Sports Arena. ​

Opening weekend features the 3rd Annual OC Brew Hee Haw, a three-day craft beer round-up where guests can enjoy beer tastings, demonstrations and exhibits.

The Fair is open Wednesday-Sunday and closed Monday and Tuesday. Tickets are available for purchase at ocfair.com or from the on-site Box Office (limited hours). Be sure to click on the Discounts link to see when they are running promotions.

Free parking and shuttle service are available on Saturdays and Sundays from the Experian parking structure located off the Bristol St. exit of the 405 freeway.

Visit ocfair.com/2016 for a full listing of activities or download the free smartphone app.​

 

 

Have you entered the Coldwell Banker $20,000 Cash Giveaway

Enter for a chance to win at www.coldwellbankergiveaway.com/ashlieducros

Mortgage Rates Near All-Time Lows

by Ashlie DuCros

Mortgage rates hit a new 2016 low this week, and they're also nearing the lowest averages ever recorded. Freddie Mac reports the 30-year mortgage rate is close to the November 2012 record low of 3.31 percent. 
 
“Continuing fallout from the Brexit vote drove Treasury yields lower again this week,” says Sean Becketti, Freddie Mac’s chief economist. “ The 30-year fixed-rate mortgage followed Treasury yields, falling 7 basis points to 3.41 percent in this week’s survey. Mortgage rates have now dropped 15 basis points over the past two weeks, leaving them only 10 basis points above the all-time low.” 
 
Freddie Mac reports the following national averages with mortgage rates for the week ending July 7:
 
  • 30-year fixed-rate mortgage: averaged 3.41 percent, with an average 0.5 point, dropping from last week’s 3.48 percent average. Last year at this time, 30-year rates averaged 4.04 percent. 

  • 15-year fixed-rate mortgages: averaged 2.74 percent, with an average 0.4 point, falling from last week’s 2.78 percent average. A year ago, 15-year rates averaged 3.20 percent. 

  • 5-year hybrid adjustable-rate mortgages: averaged 2.68 percent, with an average 0.5 point, falling from last week’s 2.70 percent average. A year ago, 5-year ARMs averaged 2.93 percent. 

​​
Many experts still expect rates to increase throughout 2016 but the only thing we know for sure is that, according to Freddie Mac, current rates are the best they have been since last April.

If you are thinking of buying your first home or moving up to your ultimate dream home, NOW is a great time to get a sensational rate on your mortgage.

 

Have you entered the Coldwell Banker $20,000 Cash Giveaway

Enter for a chance to win at www.coldwellbankergiveaway.com/ashlieducros

3 Reasons to Sell this Summer

by Ashlie DuCros

1. DEMAND IS STRONG

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

 

2. THERE IS LESS COMPETITION NOW

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this summer.

 

3. THE PROCESS WILL BE QUICKER

Fannie Mae just announced that they anticipate an acceleration in home sales that will surpass 2007's pace by late summer. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

 

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Call me today to see get an estimate of what your home is worth!


 

Have you entered the Coldwell Banker $20,000 Cash Giveaway

Enter for a chance to win at www.coldwellbankergiveaway.com/ashlieducros

Displaying blog entries 1-4 of 4

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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