How Is the Southern California Market Doing?

There are many great Orange County and Coachella Valley area homes for sale. Click here to perform 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 real estate questions.

We are headed into the fourth quarter of the year, so today we wanted to give you a quick market update to get you up to speed. 

Right now, we have roughly 5,000 active listings. Over the last three months, we are listing about 1,000 properties per month and selling 735. So, we are selling about 75% of the listings that are coming on the market, but what’s going on with all that extra inventory? We are adding about 267 homes per month to our inventory and as we head into the next season, we hope to continue to sell this inventory, but for now it’s a constant reminder that price is the most critical factor whether your home is going to sell or sit on the market for an extended period of time. In the desert, we are averaging about 110 days on market. 

In Orange County, we have close to 8,300 homes for sale right now. Coming out of the selling season, you have about 3,800 listings taken per month and 2,900 sales per month. We are adding about 900 homes per month, but demand is very high, especially in the condo market, where purchases are up an incredible 17%. 

In these uncertain times, we are still seeing condo buyers buying at an alarming rate. A condo in Orange County won’t be on the market more than 60 days on average. 

As for interest rates, I predict that they are going to remain around where they are now in the coming months; there hasn’t been much to hint that they will be rising very dramatically any time soon. 

If you have any questions for us or are looking to buy or sell in Southern California, give us a call or send us an email. We look forward to hearing from you!

How Will Home Sales Affect Your Buying and Selling Decisions?

There are many great Orange County and Coachella Valley area homes for sale. Click here to perform 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 real estate questions.

I recently read an article in USA Today that discussed how home sales recently spiked to an 8-year high in June. This is fantastic news, and is most likely happening due to the resurgence of buyers who had previously gone through a short sale or foreclosure. These buyers have finally waited out their time to be able to purchase again.

Because of this influx in buyers, we are currently seeing prices driven to an all-time high. If you’ve even been considering selling your home, now may be an opportune time to do so. Why else? Well, for starters, interest rates are going to rise soon. We aren’t sure when or by how much, but we do know a rise is impending. Now could be the best time for you to sell in the foreseeable future.

If you’ve been on the fence about buying, here’s the question you need to answer for yourself: How long do you plan on living there? It’s not about when you buy, it’s about how long you keep the investment. If you buy right, you can take advantage of the market down the road.

I hope these tips were useful. If you have any additional questions for us, feel free to give us a call or send us an email. We look forward to speaking with you!

Should You Offer a Home Warranty?

There are many great Orange County and Coachella Valley area homes for sale. Click here to perform 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 real estate questions.

Hey everyone, today we are discussing home warranties, and whether you should get one as a buyer and whether you should offer one as a seller. 

The first question we're going to answer is, "What is a home warranty?" Basically, it's something the seller pays for at the close of escrow to insure the appliances, A/C, and pool equipment. Most buyers will ask for the sellers to offer a home warranty, since the buyer hasn't lived in the home before. 

By paying for a home warranty, you are ensuring that this property is being sold in good condition and if something goes wrong, the buyer would pay a service call to the home warranty company to replace it. In 99% of offers, the buyers will request a home warranty. The only two cases where you will have to provide a home warranty as a buyer are in the case of a short sale or foreclosure. 

The home warranty generally costs between $400 and $700, depending on the size of your property. By providing a home warranty, you are extending in good faith that the home is in good condition and everything is in proper working order.

If you have any questions about home warranties, or anything else real estate related, don't hesitate to give us a call. We would love to help you out!

Save Money Remodeling Without Breaking The Bank

There are many great Orange County and Desert Cities 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 real estate questions.

Save Money Remodeling Without Breaking The Bank

How to Save Money on a Remodel

In this sort of economy, saving money any way you can is an absolute necessity. A lot of my clients have been coming to me and asking how they can spruce up their home for a bustling spring market. I have a few different ways you can save on home repairs listed below.

1. Do Your Own Sweat Equity: After talking with a lot of contractors, I have learned that if you put in the extra effort, you can save tons of money. Sometimes time is a legitimate restraint, but if you can make a repair by yourself, you certainly should. Lots of contractors charge extra money for demolition and for cleanup, so you can save money this way even if you decide to hire a contractor.


2. Go to Recycling Centers: A lot of my clients have had great success buying things that most contractors won't touch. It's mainly a liability issue for these builders, but you can find items that are discounted by up to 90% at places like Habitat for Humanity. You just need to know what you're doing in this case.


3. Limit Recessed Lighting: We all love bright homes, but the more canned lights you put in, the more it costs a contractor to fix them and it also costs you more money to use them. Instead, try adding a skylight for free natural lighting, or add a wall sconce for cheaper, lower-wattage lighting that still looks nice.


4. Consider Look-Alikes: If you want granite or marble counter tops  consider look alike materials that won't bankrupt you. Usually there are multiple alternatives to every material out there. Synthetic materials are usually cheaper, and can still look like the real thing. For example, quartz is a nice replacement for granite.


5. Plan Ahead: Before you start knocking down walls and moving toilets, etc, make sure know what you're doing and how you want things to look. Know exactly what you will need and how much of it you will need. Unforeseen obstacles will cost you the most, so prepare yourself accordingly.

These are just a few suggestions I have for you, but if you would like to talk about these things in greater detail, then feel free to contact me. I'm always here to help.