We just sold a property in Laguna Woods (Leisure World) listed at $150,000...a 2BR 2BA that makes financial sense! Deals like these do exist. Contact me for more information
Kristin
kristinsdevlin@aol.com
Monday, July 30, 2007
Orange County real estate looking good!
NAR Forecast: Brighter Days Ahead
Home prices are expected to recover in 2008 with existing-home sales picking up late this year and new-home sales rising early next year, according to the latest forecast by the National Association of Realtors (NAR).
"Buyers now have an overwhelming advantage given the wide selection of homes available in many markets," Lawrence Yun, NAR senior economist said. "But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state."
NAR says that existing-home sales are expected to total 6.11 million this year and 6.37 million in 2008, down from 6.48 million last year. New-home sales are projected at 865,000 in 2007 and 878,000 in 2008, compared with 1.05 million in 2006. Housing starts, including multifamily units, are forecast at 1.43 million units this year and 1.44 million in 2008, down from 1.80 million last year.
NAR says existing-home prices are likely to rise 1.8% to a median of $222,700 in 2008 after a 1.4% decline this year to $218,800. The median new-home price should rise 2.2% to $245,400 next year following a 2.6% drop in 2007 to $240,100.
"Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008," Yun said. "Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters."
Home prices are expected to recover in 2008 with existing-home sales picking up late this year and new-home sales rising early next year, according to the latest forecast by the National Association of Realtors (NAR).
"Buyers now have an overwhelming advantage given the wide selection of homes available in many markets," Lawrence Yun, NAR senior economist said. "But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state."
NAR says that existing-home sales are expected to total 6.11 million this year and 6.37 million in 2008, down from 6.48 million last year. New-home sales are projected at 865,000 in 2007 and 878,000 in 2008, compared with 1.05 million in 2006. Housing starts, including multifamily units, are forecast at 1.43 million units this year and 1.44 million in 2008, down from 1.80 million last year.
NAR says existing-home prices are likely to rise 1.8% to a median of $222,700 in 2008 after a 1.4% decline this year to $218,800. The median new-home price should rise 2.2% to $245,400 next year following a 2.6% drop in 2007 to $240,100.
"Markets that sharply reduce new construction in 2007 will generally experience respectable price increases in 2008," Yun said. "Local conditions vary considerably, but with historically low mortgage interest rates this summer and sustained job gains, it could be a good time for first-time buyers with a long-term view to test the housing waters."
Thursday, July 26, 2007
OC - New listing- Single Family BREA
New listing on a newly remodelled single family home within walking distance of Brea town center....complete with local restaurants, bars, movie theatres, high end shops. This lovely Cape Cod style cottage home is on a quiet cul-de-sac which features new kitchen cabinets, granite countertops, stainless steel appliances in the eat-in kitchen, new highly upgraded carpet, tile and wood floors, fireplace in family room, 3BR - 2.5BA with over 1600 sq ft of living space (estimated). All for $719,000!!!
OPEN HOUSE THIS SUNDAY 1PM-4PM. Come see us.
Wednesday, July 18, 2007
Orange County & National Economic News
U.S. mortgage applications rose 1.1% for the week ended July 6, the Mortgage Bankers Association reported July 11. Applications were 10.5% above their year-ago level.
Meanwhile, the National Association of Realtors (NAR) said on July 11 that it expects existing-home sales to rise to nearly 6.4 million units in 2008, up from the 2007 estimate of more than 6.1 million. Nearly 6.5 million existing homes were sold in 2006, NAR said.
As for new homes, NAR projected sales of 865,000 in 2007, and 878,000 next year, but the 2008 projection would still be down more than 20% compared with the nearly 1.1 million new homes sold in 2006.
Consumer borrowing rose at an annual rate of 6.4% in May, far above the small 1.1% gain in April and double what analysts had forecast, the Federal Reserve reported July 9. According to David Wyss, chief economist at Standard & Poor's, some of the credit card surge reflects the fact that tightening bank standards are making home equity loans harder to obtain and home values are not soaring as they did during the housing boom.
Addressing a National Bureau of Economic Research conference on July 10, Federal Reserve Chairman Ben Bernanke noted that Americans' expectations about inflation play an important role for Federal Reserve policy makers in their efforts to tame inflation. His talk dimmed hopes for a reduction in the Fed's key interest rate, which has held steady at 5.25% for just over a year.
This week look for updates on the Producer Price Index on July 17 and the Consumer Price Index on July 18.
Meanwhile, the National Association of Realtors (NAR) said on July 11 that it expects existing-home sales to rise to nearly 6.4 million units in 2008, up from the 2007 estimate of more than 6.1 million. Nearly 6.5 million existing homes were sold in 2006, NAR said.
As for new homes, NAR projected sales of 865,000 in 2007, and 878,000 next year, but the 2008 projection would still be down more than 20% compared with the nearly 1.1 million new homes sold in 2006.
Consumer borrowing rose at an annual rate of 6.4% in May, far above the small 1.1% gain in April and double what analysts had forecast, the Federal Reserve reported July 9. According to David Wyss, chief economist at Standard & Poor's, some of the credit card surge reflects the fact that tightening bank standards are making home equity loans harder to obtain and home values are not soaring as they did during the housing boom.
Addressing a National Bureau of Economic Research conference on July 10, Federal Reserve Chairman Ben Bernanke noted that Americans' expectations about inflation play an important role for Federal Reserve policy makers in their efforts to tame inflation. His talk dimmed hopes for a reduction in the Fed's key interest rate, which has held steady at 5.25% for just over a year.
This week look for updates on the Producer Price Index on July 17 and the Consumer Price Index on July 18.
Thursday, July 12, 2007
LAGUNA WOODS OPEN HOUSE SUNDAY 2-4PM
Gorgeous remodel 2BR 2BA single story with VIEW waiting for the right buyer! Come by to see and visit
253-G Calle Aragon
Laguna Woods,CA
ONLY $319,000!!!
CAll for directions and gate entrance
kristin 949.350.3771
SEE YOU THERE
253-G Calle Aragon
Laguna Woods,CA
ONLY $319,000!!!
CAll for directions and gate entrance
kristin 949.350.3771
SEE YOU THERE
Open House Sat 1:30PM-4PM
Please join me at my open house on Saturday July 14th. This is my 2BR 1BA move-in condition single story for $204,900!!!
760-D Calle Aragon
Laguna Woods,CA
Call me for directions and gate entrance
kristin 949.350.3771
760-D Calle Aragon
Laguna Woods,CA
Call me for directions and gate entrance
kristin 949.350.3771
Monday, July 9, 2007
Orange County Housing
Last Week in the News
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The nation's service economy expanded at a faster-than-expected pace in June, as the Institute for Supply Management (ISM) said on July 5 that its index of business activity in the non-manufacturing sector registered 60.7, topping May's reading of 59.7 and Wall Street's forecast of 58.1. A reading above 50 indicates expansion, while one below 50 signals contraction. The June reading was the highest since April 2006, when it hit 61.1.
Late payments on home equity loans -- payments that are 30 days or more past due -- rose to 2.15% in the first quarter of this year, up sharply from 1.92% in the final quarter of 2006, the American Bankers Association (ABA) reported July 3. On a brighter note, the ABA also reported that late payments on credit card bills dropped to 4.41% in the first quarter, down from 4.56% in the fourth quarter of 2006, the best showing in nearly a year.
The average rate for a 30-year, fixed-rate mortgage fell to a one-month low, Freddie Mac said July 5. Rates have ebbed in recent weeks as investors' fears concerning inflation have eased.
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The nation's service economy expanded at a faster-than-expected pace in June, as the Institute for Supply Management (ISM) said on July 5 that its index of business activity in the non-manufacturing sector registered 60.7, topping May's reading of 59.7 and Wall Street's forecast of 58.1. A reading above 50 indicates expansion, while one below 50 signals contraction. The June reading was the highest since April 2006, when it hit 61.1.
Late payments on home equity loans -- payments that are 30 days or more past due -- rose to 2.15% in the first quarter of this year, up sharply from 1.92% in the final quarter of 2006, the American Bankers Association (ABA) reported July 3. On a brighter note, the ABA also reported that late payments on credit card bills dropped to 4.41% in the first quarter, down from 4.56% in the fourth quarter of 2006, the best showing in nearly a year.
The average rate for a 30-year, fixed-rate mortgage fell to a one-month low, Freddie Mac said July 5. Rates have ebbed in recent weeks as investors' fears concerning inflation have eased.
Sunday, July 1, 2007
Laguna Woods, Open House Today
OPEN HOUSE - 253-G Calle Aragon 2-4PM
2BR 2BA REMODELED & BEAUTIFULLY STAGED GEM in heart of Leisure World. 27 holes of golf, club houses, loads of activities and tennis. Please stop by. Call me if you need entrance ok as it is a gate-guarded community.
949.350.3771
Thanks Kristin
2BR 2BA REMODELED & BEAUTIFULLY STAGED GEM in heart of Leisure World. 27 holes of golf, club houses, loads of activities and tennis. Please stop by. Call me if you need entrance ok as it is a gate-guarded community.
949.350.3771
Thanks Kristin
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