An Orange County home is nearly six times as affordable as a year ago - as measured by an index of the National Association of Home Builders and Wells Fargo Bank. Details:
Still, just 28.5% of the homes sold in O.C. in the third quarter were affordable to the typical local household. (A year ago, 4.8% of the homes were "affordable.")
A 32% price drop in O.C. homes clearly drove..(read more)
For buyers looking for a "deal" in purchasing a foreclosure, in October, the sales price to list price ratio was 101%. This means, on average, foreclosures sell for over the asking price.
The total inventory of foreclosures and short sales increased 5% over the past two weeks to 5,801 houses and condos. The increase was mostly due to short sales, when a borrower lists a property hoping..(read more)
The latest O.C. home inventory report from Steve Thomas at Altera Real Estate in Aliso Viejo says that the demand for homes - number of pending deals set within the past month - dropped by 210 homes in the past 2 weeks to 2,463 but it's still +98% vs. 1,241 a year ago (or 2,011 at this time in 2006.)
Inventory in the past 2 weeks, increased by 68 homes to 12,790 vs. 17,454 a year ago and 15,253 at..(read more)
Stats from the 22 business days ended Oct. 21 shows that shoppers bought 2,693 Orange County homes. That is 56.3% above the year ago period that was ravaged by a credit crunch that just was hitting home loans. 29 of 83 Orange County ZIP codes - roughly 1-in-3 - saw sales volume double or more in this period vs. a year ago.
Best? Santa Ana's 92703, up 575%! Oh, by the way it took pricing..(read more)
Datquick's first peek at October's Orange County home buying, based on the 22 business days ended October 6 shows a big decline from last years home buying sales price. The median selling price was $420,000 down 27.2 percent versus a year ago and 35 percent below June's 2007 peak of $645,000. The last time the median was lower was July 2003.
The Dow Jones industrial average closed July 2003 at 9,233...(read more)
The worst climate in housing since the Great Depression has put the economy- and homeownership- in the spotlight. Ohio's Joe the Plumber- whole livelihood is loosely tied to the real estate market- put Democratic hopeful Barack Obama on the defensive about the White House front-runner's tax policies. But the economic debate is far broader.
Who's got solutions for cascading home values and soaring..(read more)
In Laguna Niguel this week, the city is accepting applications for positions on various advisory panels. The Environmental Review Board, Investment Banking and Adult Committee, Parks and Recreation Commission, Planning Commission, Public Safety Committee, Senior Citizens Committee and the Traffic and Transportation Committee all have vacancies or will have after December 31. Applications will be accepted..(read more)
Rates on home equity products fell sharply. The average home equity line of credit- or HELOC- fell 36 basis points, to 5.48 percent. HELOC rates were expected to fall in response to the Federal Reserve's recent half-point emergency rate cut. Home equity loan rates plunged 27 basis points, to 7.85 percent.
The results of this past week's survey are skewed a bit because we've included a few different..(read more)
For the 22 buisness days ending September 19, Orange County sales increased 47.6 percent. However, the median sales price fell at 26.6 percent.
In Aliso Viejo the median sale home price was $413,750. Thats a 18.9 percent decrease from 2007. The sales volume was 80, a 53.8 percent change from last year.
In Dana Point the median sale home price was $850,000, a 57.3 percent decrease from the previous..(read more)
Mortgage rates exploded this past week in their biggest weekly rise in the Bankrate.com index in more than 21 years. The average 30-year fixed rate jumped 54 basis points, to 6.74 percent. A basis point in one-hundredth of a percentage point. The average 15-tear fixed soared 45 basis points, to 6.4 percent. The average jumbo 30-year fixed jumped 26 basis points, to 7.87 percent.
The one year adjustable-rate..(read more)
