There are many great Orange County and Palm Desert area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market, You may also call me at (949)441-0701 for a FREE home buying or selling consultation to answer any of your questions.
Today I want to discuss where the market is heading as we head into the second quarter of 2014. People have been questioning where we're going and where we have been, but I'm going to clear these things up for you.
Orange County:
- Inventory is up: With more homes on the market, home values will begin to fall.
- Sales in Orange County are down by 45% since last summer: This can be attributed to a rise in inventory, and also the fact that we are heading into a 'normal real estate market' where there is more inventory and more options for buyers.
- Rising interest rates have also likely slowed the market.
- If you're a seller looking to sell: Price is the most critical factor.
If you're in the desert, then your real estate market is going to look different.
- We're in season in the desert, so inventory is high and sales are looking good.
- There are two factors that are driving this market that sellers need to consider:
- Our Canadian population of buyers is down to 10-15%, and we usually see them making up 75% of the market around here.
- The reason for this is that their dollar isn't as highly valued as it has been in the past.
- The entertainment industry is down by 33%. These people that usually by property here are pulling out of our market.
Hopefully this information has been helpful. Contact me at (760) 567-1823 or email me at Torey@Windermeresocal.com if you would like any further assistance.
